Bank of America

Buffett Adds Another 3.9 Million Apple Shares, Cuts IBM, Wells Fargo Shares: Full Q3 Holdings

Traditionally one of the most boring, and telegraphed 13-Fs, today's update of Berkshire holdings did not contain any major surprises, well maybe with one exception: while it was already well-known that at the end of June Buffett converted roughly 700 million Bank of America preferred shares into common, which now appear on Berkshire's 13F, there were two notable changes.

Bank Of America: "This Is A Clear Sign Of Irrational Exuberance"

With a record number of fund managers saying equities are overvalued even as cash levels keep falling, and more funds are allocated to stocks, while fund managers "risk taking" has never been higher, Bank of America unveils a troubling verdict: "this is a sign of "irrational exuberance".

Bank Of America: This Is What $700 Quintillion Could Buy You Today

The minerals of the asteroid belt between Mars and Jupiter could be worth US$700 quintillion:  US$100bn for each of the 7 billion people on Earth at spot prices. John S. Lewis, author of "Mining the Sky", argues that an asteroid with a diameter of 1km could have a value of more than US$150 billion.

Junk Bond ETFs Have Rough Two Weeks: Deals Pulled, Outflows Rise

Volatility has returned, at least in the junk bond market. JNK, the Barclays High Yield Bond ETF, and HYG, the iShares High Yield Bond ETF, both had the steepest decline in three months. Is this another buy the dip opportunity, or is risk avoidance about to take hold?

What Risk: Deutsche Bank Ramps Up Loans Business In Desperate Scramble For Profit

Our sense is that Cryan is under so much pressure to deliver revenue growth, his strategy is to close his eyes, hope for the best and go for it. After all, this was the man who last month said "We are now seeing signs of bubbles in more and more parts of the capital market where we wouldn't have expected to see them".

Tech Stocks Accounted For 75% Of The Market's October Return

Tech continued to lead the other ten sectors in October, generating +7.8% on a total return basis and attributing over 75% of the S&P 500's return last month. YTD, tech has contributed half of the S&P 500's 16.9% total return.

BofA: The Liquidity Supernova Is Ending, "This Is The Biggest Risk of All"

$1.9 trillion of purchases by central banks thus far in 2017… helps explain lower yields & higher equities. But in 2018 the level of G4 central bank liquidity will peak at $15.3tn in March and the YoY growth of G4 central bank liquidity will decline in 2018 & will turn negative in Jan’19.

Krieger Rants "Washington D.C. Is Swarming With Unaccountable Parasites"

"We all know it and, even worse, it’s probably a hundred times more grotesque than we can imagine. A distressingly high number of people attracted to this swamp don’t go there to do good public work or help the American people. They go in order to enrich themselves at our expense."