In my last video before taking some time off I said that I expected a weak August jobs report and an imploding housing market to postpone the start of taper time. Well, the August jobs report was weaker than expected and mortgage bankers today reported that new mortgage applications have plunged to levels not seen since the 2008 low. Regardless of the weakness, the bond market apparently still believes that even if the Fed might not start tapering this month, tapering will start before year end. Read More
TrimTabs’ Charles Biderman joined CNBC’s Rick Santelli to track fund flows Tuesday.
I expect the Bureau of Labor Statistics on September 6 will claim that much less than 100,000 new jobs were created in August; maybe as few as 25,000. And if the Fed is telling the truth that whether or not to taper is dependent on economic data, then a weak job market on top of slowing real estate says to me there will be no tapering anytime soon. Read More
Most who follow markets now knows that the US Federal Reserve wants to “Taper” the amount of new money printed daily. But nobody seems to know when. And the real question is: what does that mean to the markets if the Fed does or doesn’t taper? Read More
The most dangerous people are those with power who are not as smart as they think they are. Particularly dangerous are those who think they have the answer to our problems, but unfortunately are not smart enough to realize that they have no clue. Read More
The stock market continues to move upward. The market value of all US stocks is $22 trillion, a whopping $13 trillion increase from the March 2009 low and roughly equal to the all-time peak reached in October 2007. The more the stock market has gone up the more investors, economists and financial commentators, all firmly believe that the U.S. economy is on the verge of rapid growth. Read More
I have been playing the financial markets for over 40 years. Successful investors all share a common trait: They each have found an edge that enables them to outperform. Historically, before the internet, there were mainly two “edges” available to investors. The first is to know more about a company, industry or product than what the market knows. The second is to be the first to get the news, also known as trading on insider information. Read More