BAC

The Four Key Themes From Q4 Conference Calls

Since President Trump’s surprise victory over Hillary Clinton in November, investors and management teams have been acutely focused on the new administration’s policy proposals. As expected, all 4 key themes discussed on Q4 conference calls are closely linked to Trump's policies and include tax reform, regulation, fiscal spending and trade policy.

13-F Summary: Who Bought And Sold What In The Fourth Quarter

Yesterday's barrage of 13F releases showed that hedge funds like Third Point, Eton Park and Blue Ridge piled into shares of major banks, David Tepper's Appaloosa jumped into the pharma sector starting new positions in Teva, Pfizer and Mylan while Buffett aggressively added to airline steaks and nearly quadrupled his Apple position to $7.7 billion. Here is a full breakdown of who bought what in the fourth quarter.

How We Got Here

America is in trouble because Americans got lazy. Not so much physically but morally. They began to care more about some passing thing than about the things that truly matter; the things that made America unlike other places. Better than other places. Things like principles; the plain meaning of words.

Futures Rise On Friday 13th Ahead Of Deluge Of Bank Earnings; Dollar Continues To Decline

European shares rose as Fiat rebounded on hopes concerns about parallel to Volkswagen are overblown, Asian stocks were little as Chinese shares fell to the lowest level of 2017 after poor export data, and U.S. equity-index futures rose ahead of a deluge of bank earnings. The dollar is headed for a weekly loss and gold trades at the highest price in almost two months.

BofA Finds Consumer Spending Tumbled In December, Warns Of Disappointing Retail Sales

According to BofA, retail sales ex-autos declined 1.0% mom seasonally adjusted in December. "This contrasts with other indicators of consumer strength including reports of a robust holiday shopping season, a rebound in consumer confidence and strong autos sales... we think it is prudent to prepare for a similarly negative number in Friday's report."

EconMatters's picture

Banks are cheap for a reason, they are not going to be high growers because of longer term structural changes in the Finance world some of which are fallout from the excesses of the Financial Crisis, and some have to do with technological and structural changes within financial markets themselves.

Beware Trump Tweets, And Other Major Catalysts In 2017 According To JPMorgan

In the latest macro update from JPM's Adam Crisafuli, the strategist writes that the Trumpflation rally which more than doubled the market's YTD gains since the Trump election, has gotten ahead of itself and that "it seems like a lot of headwinds that have been accumulating below the surface for weeks are quietly moving to the fore."

What Hedge Funds Bought And Sold In Q3: The Full 13-F Summary

Today was the deadline for hedge funds to submit their Q3 13-F filings, which considering they represent a snapshot in time as of Sept 30, prior to both the October volatility spike and the presidential election, are likely totally irrelevant by this time. Still, for those who religiously focus on hedge fund position changes, here is the list.