Archives for June 2009

Monthly Archives: June 2009

Hendry: Fears of inflation could trigger bigger downturn

We have followed Hugh Hendry, the outspoken and bold CIO of Eclectica Asset Management, and one of the few profitable absolute return hedgies during the last 12 to 18 months, as he built his high conviction case for ...
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Global Equity Market P/E Ratios

Below is a chart showing global equity market valuations, as produced by Bespoke Investment Group. Canadian stocks are currently fetching a P/E of 13X, and given Canada's relatively stronger economic fundamentals, from a fiscal and banking industry standpoint, ...
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Goldman Sachs:

Matt Taibbi, the controversial Rolling Stone investigative columnist who has been stalking Goldman Sachs, et al, to unearth the deep dark secrets as well as the alchemists of the current credit crisis, boldly alleges that Goldman Sachs has ...
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Tim Bond on China and the Fed’s “punch bowl”

Tim Bond, head of asset allocation at Barclays Capital, discusses in the video clips below the outlook for Chinese growth, as well as government bond yields and when the Federal Reserve Board will start raising rates. FT’s investment ...
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You Matter...

When you love the work you do and the people you do it with, you matter. When you are so gracious and generous and aware that you think of other people before yourself, you matter. When you leave ...
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The Wall Street Journal suggests that Americans should think about investing in Canadian assets to take advantage of the recent interim weakness in the Loonie, as Canada's economic outlook hinges on China and emerging markets' demand for oil ...
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Mortgage Resets: The Eye of the Hurricane?

The passing of a hurricane is quite an event, and a strong one can wreak havoc. In the eye of a hurricane, there is an eerie calm, and quiet, and the sun often shines brightly. The bigger the ...
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Hugh Hendry: June 2009 Letter

Here, below, in its entirety is Hugh Hendry's latest letter to investors. Its both enlightening, and highly educational, as the outspoken and brash Hendry has a great handle on market history as well as the English language. Hendry, ...
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Roubini: Oil and Gold Look Overpriced

Nouriel Roubini, of RGE Economics, declared at a Reuters Summit Tuesday that Oil and Gold are not reflecting their fundamentals and have come too far too soon. Reuters: Oil and gold are overvalued at current prices, which do ...
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Michael Lewis: The End of Wall Street

Michael Lewis, the trenchant author of Liar's Poker, Money Ball, and Home Game, discusses what he calls "The End of Wall Street," in this 5:33 minute segment. It's an enlightening discussion, I promise. Don't miss it. Click play ...
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David Rosenberg: Green Shoot Era Over?

In today's Breakfast with Dave, David Rosenberg, Chief Economist at Gluskin Sheff (ex-Merrill Lynch) discusses the sell-off that has begun in global equity markets overnight. Here is the summary from today's letter: Equities are selling off with the ...
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Convergence of Corporate and Treasury Yields Not What You Think

Many economy watchers are of the mind, simply so, that the market's appetite for risk is increasing, and others would like nothing more than to believe that this is yet another 'green shoot.' Earlier this week we provided ...
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Melt-up Fuels Investor Confidence

Last week Raymond James' strategist Jeffrey Saut discussed underperformance angst, and how the sentiment is helping to drive stock prices higher, due to skeptical asset managers caving in to performance pressures from clients, peers and benchmarking. This is ...
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Faber: The frame of mind of American economic policymakers

“I seldom become depressed, but when I consider that prosperity is created by ‘peace, easy taxes and a tolerable administration of justice’ I really think the US and other Western governments are doing their very best to impoverish ...
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Leveraged ETF Performance

The following note is courtesy of Bespoke Investment Group, who are masterful at creating nice clean charts. As always, a good picture or chart can say a thousand words. Below we highlight the year to date performance of ...
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