Foursquare Is Now Twosquare: Latest Tech Bubble Casualty Has Valuation Slashed By 60%

The latest semi-unicorn to drop like a fly was none other than Foursquare, a company which makes apps that do something that most other apps already do as well if not better. Actually make that Twosquare, or rather Oneandathirdsquare, because according to ReCode, the company is close to finalizing a funding round that will see the company's value plunge to $250 million, almost two-thirds less than the $650 million it was "valued" at two years ago.

Equity Markets Will Be Increasingly Accident Prone In 2016

Having anticipated 2015 as the starting point to a turn in volatility for the last two years, BofAML warns that from here on, based on the 'Economics of Volatility framework', they expect to see a rising trend in equity volatility levels, a trend that could last 1-2 years, transporting us from the low volatility regime of the last 3 years towards a sustained high volatility regime.

The World Economy Explained With Two Cows: New Normal Edition

'Keep It Simple Stupid' is the underlying narrative of the "two cows explain economics" meme... but, in light of the 'new normal' reality unleashed by ever-intervening central planners, some of the key political, economic, and corporate systems needed a re-work...

Commerce Department Releases Consumer Spending Data Early - Worst YoY Growth Since May 2013

In yet another government SNAFU, the US commerce department has released spending data prematurely. Instead of tomorrow morning, its website released the data at 1923ET.. and it is not good. Despite a 0.3% rise in November, thanks to downward revisions, the YoY growth in Spending was just 2.9%. May 2013 was the last time YoY growth was weaker than this and corresponds with spending weakness seen in each of the last 3 recessions.

Chinese Executive Who Was Once Kidnapped By Angry Investors Disappears

Back in August, angry investors captured Shan Jiuliang, the head of Fanya Metals Exchange, in a daring predawn raid on a luxury hotel in Shanghai. The citizen's arrest came after Fanya stopped making payments on WMPs it issued. Now, it appears as though Shan has been captured again - only this time, it's not clear whether he'll be coming back.

"Canadians Should Be Concerned" As Energy Sector Job Losses Spike To 100,000 This Year

It's grim up north... and getting grimmer. Amid soaring suicide rates, Canada's once-booming oil patch is rapidly accelerating its downward trajectory. "Canadians should be concerned in times like these," warned Tim McMillan, president and chief executive of the Canadian Association of Petroleum Producers, noting that the oil and gas sector will see 100,000 job losses by the end of this year. Apart from the protracted price declines, Alberta’s oil and gas sector has also had to contend with a 20 per cent hike in corporate taxes, increased provincial royalties, a carbon tax and new regulatory policies to limit rein in carbon emissions... and now a new competitot from US exports.

Six Signs That 2016 Will Be Much Worse Than 2015

2015 has witnessed several events that had, and will have, negative repercussions on individual freedom. Orwellian totalitarianism is increasingly creeping into our everyday lives. How much more intrusive will the violations of our liberties become and for how long will the establishment get away with this? With regards to the financial system, no real solution was found to issues such as those in the euro zone. Furthermore, the financial system as a whole once again got deeper into debt. For how much longer can central banks and governments continue kicking the can down the road without any real reform?

"When Is The Crash Going To Happen?" - Mark Spitznagel Revisits "The Ticking Time Bomb"

Timing a crash can be a fool's errand, and fortunately such efforts are largely irrelevant if you are tail hedging (though they are quite relevant if you aren't). But this doesn't mean that exercises in timing are without merit. Without a doubt (or at least with over 99% confidence), bad things happen with increasing expectation when conditioning on higher Q ratios ex ante. Factoring time into the equation, and again based on history, the confidence interval around the median time would point to an expectation that the crash should commence right about now.

Crude Extends Gains After API Reports Unexpectedly Large Inventory Draw

Following last week's huge build reported by DOE, crude inventories reported by API tonight dropped 3.6 million barrels (drastically different from the 2.3mm build expected). WTI is rallying on the news, despite a 1.5 million barrel build at Cushing (up notably from last week's 847k) - the 7th weekly build in a row.

NYC Has Received A "Credible Threat" Days Ahead Of Christmas, PIX11 Reports

Update: just minutes after the WPIX report, the WNBC chief investigative reporter Jonathan Dienst said that there is no new specific threat to New York City.

A “credible threat” has been lodged against New York City, days ahead of Christmas and during an especially busy time of the year when tourists flock to the Big Apple, law enforcement sources told PIX11 News Tuesday.

Technically Speaking: It's Now Or Never For Santa

With the market now back to oversold conditions and redemptions complete, it is now or never for the traditional “Santa Rally.” Statistically speaking, the odds are high that the market will muster a rally over the next couple of weeks. While the short-term trends are indeed still bullishly-biased, the longer-term analysis (monthly) reveals a more dangerous picture emerging.