Bank of America

Banks Tumble After BofA, JPM Warn Revenue Will Be Down As Much As 15%

The banking sector is sliding after JPM CFO Marianne Lake warned that contrary to expectations for an ongoing rebound in revenue and profits, the bank's second quarter revenue has been 15% lower from a year ago. And while she said that US economic figures are "solid, not stellar", she blamed the same thing that has been the nightmare of daytraders everywhere: collapsing volatility. 

Paul Singer Warns "All Hell Will Break Loose"

"Given groupthink and the determination of policy makers to do ‘whatever it takes’ to prevent the next market ‘crash,’ we think that the low-volatility levitation magic act of stocks and bonds will exist until the disenchanting moment when it does not. And then all hell will break loose." - Paul Singer

The First Crack Appears In The Second Tech Bubble

In the loudest alarm yet that the second tech bubble may be about to pop, investors pulled more than $716 million from the most popular tech ETF - the XLK- last week, its largest weekly outflow in over a year.

Visualizing The Expanding Universe Of Cryptocurrencies

Bitcoin is the original cryptocurrency, and its meteoric rise has made it a mainstay of conversation for investors, media, and technologists alike. But the true impact of Bitcoin is actually far more reaching than this – it’s actually helped to birth new markets for over 800 other cryptocurrencies and assets that are available for online trading. And while the market for bitcoins is worth nearly $40 billion itself, the rest of these cryptocurrencies are actually worth even more in combination.

A New Financial System Is Being Born

"Many of us who lived through the 2008 crisis knew the financial system was dead. We knew it was corrupt, archaic and terminal, so many of us began bracing for what might come next. We did what we thought made sense at the time, which included buying precious metals like gold and silver given their historic track record of protecting wealth in periods of paradigm-shifting financial disruption, but a small group forward thinking geeks decided to do something much better. They decided to build an alternative."

What Keeps Bank of America Up At Night

"The last two weeks have further underpinned our belief that the market has had misplaced optimism in the new administration's reform agenda, while we find more and more evidence that suggests the macro environment echoes that of 2014 and 2015."

"The S&P 500 Is Now Overvalued On 18 Of 20 Valuation Metrics"

According to Bank of America: based on the 20 most widely used valuation metrics, the S&P remains significantly overvalued on 18 of 20 valuation metrics, the only exceptions being free cash flow, helped by depressed capex), and relative to bonds.