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Which Stocks Are Cheap?

Across 4,888 US listed stocks, only the micro-est of micro-caps remain (historically speaking) cheap... do you feel lucky?

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Fashion Company SQBG Tries To Crush Shorts, Force Squeeze After Chairman Urges Investors To Pull Borrow

"Tengram has instructed its broker that it will not permit borrowing of any of its shares by short sellers who are only interested in reducing the value of the Company’s stock price for their short-term gain.  We urge each of you to contact your broker today and inform them that your shares may not be made available to be borrowed by short sellers.”

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How To Defeat ISIS (In 9 Simple Steps)

Having fixed the greatest threat to the world - climate change - and following the deadly Paris attacks and numerous other violent incidents perpetrated by the terror group ISIS, many governments and populations worldwide are wondering how we can eliminate this threat. Here are some strategies to defeat the Islamic State...

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Hyperinflation Watch: Kazakhstan Unveils New 20,000 Tenge Banknote

While hyperinflating Argentina has begun discussing a rise in the denominations of its banknotes, and South Africa has admitted defeat in the currency wars, it appears Kazakhstan's collapsing currency and crashing reserves has prompted action. Since allowing the Tenge to "free float" in August it has imploded (from 188 to 308 per USD) and so today The Kazakh Central Bank unveiled the new 20,000 Tenge banknote - double the highest denomination previously.

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Another Hedge Fund Bites The Dust: Trafigura Shuts Down Its Flagship Metals Fund

While the storm clouds continue to build above Trafigura, we now know the fate of Galena and why its CEO Letchford departed the company in a hurry last week: according to a follow up from Bloomberg, Trafigura has decided to close the flagship Galena Metals Fund, the latest hedge fund victim of the rout in raw materials markets from oil to copper.

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Market Panics After Arrest Of Brazilian Lawmaker: "Never Have We Had So Little Certainty About Tomorrow"

Last week's arrest of Latin America's most prominent investment banker sent shares of BTG Pactual plunging as investors pulled a third of their money from the firm's fixed income funds. As shocking as Andre Esteves' detention most assuredly was, analysts say the real risk may stem from the investigation into Rousseff's "guy" in the Senate, Delcidio Amaral, who was also detained last Wednesday. As Bloomberg reports, Amaral's "arrest not only delayed government efforts to resolve this year’s budget dispute, but it also dispelled a long-held belief that sitting lawmakers are all but untouchable because of a quirk in Brazilian law that affords politicians special treatment in criminal investigations." 

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When The Narrative Breaks

A false capitalism reigns based on false capital - notional wealth where there is really no wealth; value where there is no value. Moments like this in history beat a path straight to currency collapse, and that will open the door to a greater collapse of all our familiar arrangements.

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To JPM, This Is The Alarming Chart Suggesting The Next Recession "Is Just Around The Corner"

"The US corporate financing gap – the difference between cash flow generation and spending on capex and dividends – has turned strongly negative. In the past, when the financing gap went strongly negative, the next downturn was just around the corner."

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RANsquawk Week Ahead Video: A busy week sees rate decisions from the RBA, RBI and BoC, while potential action from the ECB is set to take centre stage

After a subdued end to last week as a result of the US Thanksgiving holiday, this week will see markets served a deluge of data and tier 1 releases. 

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And The First To Admit Defeat In Currency Wars Is...


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More Energy Companies Accused Of Downplaying Climate Change

Obviously, oil, gas, and coal companies are not going away (at least those not near bankruptcy), but low prices are not the only existential threat facing the industry. The political movement to act on climate change is picking up steam, and the legal case against ExxonMobil perfectly illustrates that growing threat.

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Morgan Stanley Throws In The Permabullish Towel, Says It Is "Feeling Worse, But Not Sure Can Explain It""

"We are lowering our 2015 S&P500 EPS estimate from $124 to $120.5. This is to both mark-to-market for weaker Q3 results and to reduce our estimates for January earnings. The consensus bottom-up number is roughly $119. This means we anticipate earnings growing just over 1% in 2015 year-over-year, not counting a net buyback of about 2.3%."

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The IMF Confirms Yuan Inclusion In SDR Basket At 10.92% Weight, Above JPY And GBP

The IMF’s Executive Board decision today means that the yuan will be included in the SDR basket from Oct. 1, 2016, effectively anointing the yuan as a major reserve currency and represents recognition that the yuan’s status is rising along with China’s place in global finance. The weight in the basket will be 10.92%, larger than JPY and GBP. However, as politically-motivated as this decision may have been, now comes the hard part for China.

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Morgan Stanley To Cull 25% Of Fixed Income Jobs Within 2 Weeks As Revenues Plunge

Stiffer capital rules, a slump in client transactions and a shift toward electronic trading have crimped margins in key fixed-income markets, pushing banks to pull back and eliminate staff... and amid a 42% collapse in fixed-income revenue in Q3, Morgan Stanley is taking action:


The cuts are said to be worldwide and will happen with two weeks (just in time to watch the carnage unleashed by The Fed).

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Internal Bleeding, Cheap Tech, And Falling Angels

So what happens to a market that’s balanced precariously atop the shares of a handful of “must own” companies when those companies lose their halos? Historically, the previously-strong sectors join the rest in a broad sell-off.

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