Financials are a peculiar sector, because one didn’t have to nail the March 2009 bottom in order to get a bargain. Indeed, one could have waited about two and a half years – – until October 2011 – – to get incredibly cheap prices. Since then, though, they’ve been marching ever-higher, just like everything else.
However, I noticed an interesting break in the FAS trendline (FAS being the triple-bullish leveraged ETF for financial stocks). Regardez, s’il-vous-plaît………
Those promoting the bad GDP data should listen to Wells Fargo CEO John Stumpf who, like this cranky little spot in the financial media here at biiwii, thinks the US economy is “stronger than people think”.
All you have to do is open your eyes and look at corporate profits and manufacturing, to name but two major pillars. Jobs is another, even considering the constant debates about the quality of said jobs. (more…)
With the news that Uber is now valued at $18 billion, it got me thinking about the taxicab market. I think, over time, Uber is going to do some serious damage to the wonderful world of yellow cabs. As some of you already know, the prices for the medallions that permit taxis to be used in the first place have absolutely skyrocketed:
The original intent and “raison d’etre” of our market based financial system was to facilitate capital formation and encourage investment / credit for enterprise expansion, through the establishment of efficient operational capital market exchange frameworks, so as to advance productivity and facilitate trade in the underlying economy. (more…)