According to the current market action there is no risk. None. Risk doesn’t exist. Whatever wobbles there may be on occasion it’s all priced in within a few minutes and markets proceed […]

There’s an old adage: There are two guarantees in life: Death and taxes. Let’s modernize this a bit shall we? While it’s true even the rich still die these days (for now), […]

None of us can know where markets would be trading without the Fed’s constant massive liquidity injections, but now that the bubble recognition has gone mainstream (Bloomberg, FT) and acknowledged by at […]

Last week we found out that Dallas Fed president Kaplan knows that the Fed is creating excess and imbalances in stocks. Yes, bloating the Fed’s balance sheet by over $400B  in four […]

We’re still only a few days into 2020 but a very reliable trend has already emerged and bears watching. The trend: No matter what happens anywhere in the world or even if […]

Finally. A glimmer of cognition. An admission. A sense that the Fed knows, but is largely unwilling to admit it. But Dallas Fed president Kaplan let it slip, the truth everybody already […]

Some quick takes here on events of the day: The lunatics are running the asylum and they pretend to be the sane ones. The Fed is not letting up on their liquidity […]

Spoos 50 handles down in overnight, 12 hours later new all time highs. If you called that last night step forward and show me. Nobody of course called this. But these are […]

Recently an annual ritual took place. Wall Street analysts setting year end price targets for the S&P 500 for the new year. Don’t act surprised but these latest price targets are higher […]

Rarely has failure been celebrated so much. But it is of little wonder after all, as all asset classes rose in 2019 in spite of slowing growth and flat to declining earnings. […]

What? You thought a 850+ point drop in the $DJIA would result in a down week? No Sir. The unholy alliance has struck again. Massive jawboning by multiple administration officials about how well […]