Archive - Jan 4, 2015

Tyler Durden's picture

"Now There's Not Even Soap" Maduro Heads To China To 'Save' Socialist Utopia Venezuela





Social media is awash with striking images of #EmptyShelvesInVenezuela (#AnaquelesVaciosEnVenezuela) as the evaporation of basic human staples such as toilet paper has now been hyperinflated to total chaos at warehouses and supermarkets. As President Maduro decries the loss of $100 oil "stability", vowing to return oil prices to their rightful places (and heads to China for help), lines reach for miles for milk and soap... and the people defy governmental bans on photographing empty market shelves... "We couldn't find shampoo, so we washed our hair with soap. Now there's not even soap."

 

Tyler Durden's picture

Japanese Stocks Tumble 350 Points From Friday Highs, JPY 119 Handle, WTI Crude Hits $51 Handle





USDJPY tumbles to a 119 handle briefly before Japan opened to its normal JPY-selling spike temporarily lifted the pair 'off the lows'. This drop dragged stock futures lower with Nikkei 225 tumbling over 350 points from its Friday trading highs. Oil prices continue to slide (WTI now with a $51 handle) and EURUSD is bouncing back from its precipitous decline earlier in the evening. S&P futures were down almost 10pts but have recovered about half their losses.

 

Tyler Durden's picture

70-Year-Old Hedge Fund Founder Shot Dead By His Son





We thought yesterday's absurd story of former hedge fund manager James Crombie, founder of Paron Capital Management, who was arrested after found squatting in a million dollar Maryland house, would be as strange as it gets for hedge fund stories this weekend. We were wrong: moments ago the WSJ reported that Thomas Gilbert, founder of the $200 million Wainscott hedge fund, whose success Gilbert said previously had come from investing in biotech funds, was found dead with a single bullet to the head in his Manhattan apartment this afternoon, allegedly shot by none other than his 30-year-old son.

 

Tyler Durden's picture

Bidless Euro Crashes To Level Not Seen Since March 2006





Having closed the Friday session less than 1 pip above the hugely important 1.2000 level below which there lay many stops, following this weekend's news onslaught which seemed like a deja vu of the newsflow from the fall of 2011, where the main catalyst was the Reuters report that Germany is preparing to let Greece go once and for all (with the subsequent attempts at retraction barely noticed), or maybe just because someone wanted to price in a little more of the more than fully priced in by now ECB QE - which very well may not happen - the moment the EURUSD opened for trading it took out not only the critical 1.2000 stops, but within milliseconds the Euro found itself bidless and crashed to a low of 1.1864, promptly taking out the lows set in May 2010 when the first Greek bailout took place, and tumbled to a level not seen since March of 2006!

 

Tyler Durden's picture

ISIS Is Hiring





 

Tyler Durden's picture

What's Ahead For 2015 (In 1 Simple Cartoon)





Squeeeze...

 

Tyler Durden's picture

Keep Your Eyes On The Prize: It's Always And Ever About Energy





If technology requires a complex society to build and maintain it, and our dreams and hopes are pinned on even more complex and useful technology in the future, but net energy from new oil plays is shrinking, then it might not be wise to pin all our hopes on technology. Perhaps there should be some other plans in the works too.

 

Tyler Durden's picture

"Some Folks Were Overpaid..." Over 3 Million Obamacare Subsidy Recipients Will Owe IRS





While the Affordable Care Act fines those who don't have health insurance, it also provides subsidies for people making up to four times the federal poverty line ($46,680)... but, as The Washington Examiner reports, the subsidies are based on past tax returns, so many people may be receiving too much. In fact, as H&R Block calculates, as many as 3.4 million people who received Obamacare subsidies may owe money to the federal government.

 

Tyler Durden's picture

The Worst Case Scenario For Bond Bears According To JPM: Rising Stock Prices





'... assuming equity prices rise by 10% this year, for their bond allocation to stay at 37% (same as of Q3 2014), US pension funds and insurance companies would have to buy $550bn of bonds in 2015."

 

Tyler Durden's picture

David Rosenberg Has A Question For His Clients





David Rosenberg, formerly of Merrill Lynch and currently of Gluskin Sheff, who famously flip-flopped from being a self-described permabear to uber-bull last summer for the one reason that has yet to manifest itself in any way, shape or form, namely declaring that wage inflation as imminent (it wasn't, but perhaps Mr. Rosenberg was merely forecasting the trajectory of his own wages) and generally an end to deflation, has a rhetorical question for his paying clients, as asked in his letter to investors from January 2. To wit: "THIS IS WHAT PASSES FOR ANALYSIS?" We too follow up with an identical question not only for Mr. Rosenberg's clients, but for our own readers.

 

Reggie Middleton's picture

China, Smartphones, Margin Compression and the Future of Computing





What happens to your market when competitors are selling 61 million units of your product at 1% margin and growing revenues by 135% and shipments by over 220%? Margin compression, baby!

 

Tyler Durden's picture

Knowing It Will End Badly And Turning A Blind Eye





The problem is inherent in the knowing “that it will end badly” and yet turning a blind eye and making money anyway. For that’s what a good Wall Street aficionado does after all, right? I mean, who cares about arguing about real economics or fundamentals. Who cares – I’m up 8%!! As if that’s all that now matters. For if that’s all that matters why don’t we embrace crony capitalism, embrace stagnant wages, embrace the 99% vs the 1% as that’s the best it’ll ever be. Who cares, as long as we’re getting ours. This disgusting bloated behemoth of an adulterated Central Bank infused market is now getting downright scarier.

 

williambanzai7's picture

INFLaTaBLe YeLLeN TiMe...





Dow she blows!!!

 

Tyler Durden's picture

Arctic Polar Blast Coming: Midwest Temperatures To Plunge 35 Below Average, Chicago Facing Record Lows





Following several weeks of economic data that has been, despite erroneous expectations of a Fed rate hike, one major disappointment after another including regional Fed reports, housing data, manufacturing surveys, construction spending, and durable goods data, the US economy is about to get the slowdown scapegoat it so desperately needs: according to Weather.com, following a brief overnight respite from cold temperatures, entering the first full week of January, both the Midwest and the East will see a plunge to the coldest temperatures of the season.  As a result, high temperatures are expected to be up to 35 degrees below average in parts of the Midwest by midweek. Chicago may see a subzero high temperature on Wednesday. The last time the mercury did not reach zero was on January 6 of last year. Chicago may also set a daily record cold high temperature on Wednesday (current record is 3 degrees set just last year) and a record low temperature on Thursday morning (current record is 10 degrees below zero).

 

Tyler Durden's picture

A Greek Demands No More Lies: "If We Opt For Comforting But Phony Rhetoric We Dig Our Own Graves"





Those outside Greece could not understand why any responsible politician would sign on the dotted line when they couldn’t deliver and our credibility suffered. The cost ultimately fell on those who were unable to shield themselves from amendments passed on the sly, directives that only the most savvy could possibly understand; in short, it fell on the taxpayers, who were bled dry. It’s time for citizens and the media to grow up. To pressure politicians for the truth and not to ostracize those who dare to tell it like it is. If we opt for comforting rhetoric, knowing how phony it is, we will be digging our own graves.

 
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