The Herd Is Heading For A Cliff
Submitted by Tyler Durden on 12/29/2015 - 16:25“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.”
"Zero Confidence": 8 In 10 Americans Think Obama Is Losing To ISIS
Submitted by Tyler Durden on 12/29/2015 - 15:50According to a new poll, Americans today see their country as losing the battle against terror despite having the most powerful military in the world. Apparently only 2 in 10 Americans think the U.S. is winning the war on terror, and see the ISIS Islamic State as holding the upper hand. Who says the terrorists aren’t winning against our freedoms?
Hedge Funds Dropping Like Flies: Doug Hirsch's Seneca Capital Closing After 20 Years
Submitted by Tyler Durden on 12/29/2015 - 15:49Another hedge fund has decided to call it quits, this time chess-afficionado Doug Hirsch's event-driven $500 million Seneca Capital, which according to Bloomberg is returning outside capital today.
Marc Faber Dials In From Thailand, Sees Another Recession
Submitted by Tyler Durden on 12/29/2015 - 15:30“I think 10-year USTs are quite attractive because of my outlook for the weakening economy. Actually I believe we’re already entering a recessionin the US. Given the weakness in the global economy and the deceleration of growth in the U.S., I would imagine that by next year the Fed will cut rates once again and launch QE4."
Google's Enterprise Value Quietly Surpasses Apple
Submitted by Tyler Durden on 12/29/2015 - 15:10For the first time since early 2014, "no brainer" Apple's Enterprise Value has fallen below that of its tech giant super-hero nemesis Alphabet (the company formerly known as Google). Since early July, Apple has lost a stunning $112 billion of 'value' while Alphabet has added over $150 billion. In September we asked "have we reached peak Apple?" it appears, for now, the answer is in.
WTI Crude Surges Back To $38 Ahead Of API Data
Submitted by Tyler Durden on 12/29/2015 - 14:37It appears $38 is the new strange attractor for WTI Crude oil as it coincides with the last two weeks' "opposites" inventory data releases. Brent and WTI continue to hug each other for the 3rd day in a row. We await tonight's API inventory data (expected to see a 2.5mm draw) for the next move in crude (and therefore US equities).
Democratic Senator Calls For Extra Tax To Fund "War" Against ISIS
Submitted by Tyler Durden on 12/29/2015 - 14:31"In March, I introduced a federal budget amendment that would impose a temporary surtax to pay for our military operations against ISIS. When the Senate reconvenes in 2016, I again plan to explore this option."
The Plutocrats Are Winning (Don't Let Them!)
Submitted by Tyler Durden on 12/29/2015 - 14:15The $1.15 trillion spending bill passed by Congress last Friday and quickly signed by President Obama is just the latest triumph in the plutocratic management of politics that has accelerated since 9/11...proof that Washington can work. Mainstream media didn’t stop to ask: “Yes, but work for whom?” Instead, the anchors acted as amplifiers for official spin - repeating the mantra-of-the-hour that while this is not “a perfect bill,” it does a lot of good things. “But for whom? At what price?” went unasked. Secrecy today. Secrecy tomorrow. Secrecy forever. They are determined that we not know who owns them.
JP Morgan Employees Said To Steal $400,000 From Eight Dead Clients
Submitted by Tyler Durden on 12/29/2015 - 14:00
Can Donald Trump Do No Wrong?
Submitted by Tyler Durden on 12/29/2015 - 13:45It appears that no matter what he says, does, or is alleged to have said or done, The Donald's rating continue to rise. As Bloomberg notes in the following chart of his 'success' so far, Trump's controversial comments appear highly correlated with his poll standings as the latest poll shows his support is now larger than that of his next three rivals combined...
Turkish, Greek Jets Engage In Dogfight Over Mediterranean
Submitted by Tyler Durden on 12/29/2015 - 13:31According to eKathimerini, Greek and Turkish jets just got into a dogfight over the Aegean Sea on Tuesday when Ankara's warplanes violated Greek airspace nine times. Two of the Turkish planes "were armed."
Nothing "Schizophrenic" About Today's Abysmal 5 Year Auction
Submitted by Tyler Durden on 12/29/2015 - 13:18We were fully expecting not only a tail, but a whopping tail in today's weak market. And that is precisely what we got when moments after we learned that the When Issued was trading at 1.774% before the 1pm announcement, the 5 Year printed at 1.78%, a tail of 1.1 bps, a mirror image of yesterday's squeeze into the auction!
The Dark Side Of A Record $5 Trillion In Mergers: Hundreds Of Thousands Of Imminent Layoffs
Submitted by Tyler Durden on 12/29/2015 - 12:57The winners from a $5 trillion M&A bubble: Wall Street bankers will make hundreds of millions in M&A fees. The losers: hundreds of thousands of workers who are about to be laid off, pardon, "synergized."
"2016 Will Be No Fun" - Doug Kass Unveils 15 Surprises For The Year Ahead
Submitted by Tyler Durden on 12/29/2015 - 11:36My overriding theme and the central drama for the coming year is that unexpected events can take on greater importance as the Federal Reserve ends its near-decade-long Zero Interest Rate Policy. Consensus premises and forecasts will likely fall flat, in a rather spectacular manner. The low-conviction and directionless market that we saw in 2015 could become a no-conviction and very-much-directed market (i.e. one that's directed lower) in 2016. There will be no peace on earth in 2016, and our markets could lose a cushion of protection as valuations contract. (Just as "malinvestment" represented a key theme this year, we expect a compression of price-to-earnings ratios to serve as a big market driver in 2016.) In other words, we don't think 2016 will be fun.
Inbetween Rounds Of Golf Obama Sends His Condolences After Deadly Winter Storms Slam US
Submitted by Tyler Durden on 12/29/2015 - 11:10In the aftermath of the first deadly winter storm of the year, a dazed and confused nation suddenly finds itself in need of leadership. Unfortunately, it won't get it: "Obama offered condolences for those who lost their lives and for those who lost their homes in the tornadoes." He then spent the next 6 hours golfing and was "all smiles."


