Book Value

Here’s Why Italy’s Banking Crisis Has Gone Off The Radar

For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, things are eerily quiet in Italy these days. It’s almost as if the more serious the crisis gets, the less we hear about it — otherwise, investors and voters might get spooked. And elections are coming up.

Doug Casey Has "Never Seen Anything Like This"

"What's going on in the US now is a culture clash. They don't just dislike each other and disagree on politics; they can no longer even have a conversation. They hate each other on a visceral gut level. They have totally different world views. I've never seen anything like this in my lifetime. There hasn't been anything like this since the War Between the States, which shouldn't be called "The Civil War," because it wasn't a civil war. "

China FX Reserves "Unexpectedly" Rebound Above $3 Trillion, First Increase Since June

Overnight China reported that its FX reserves "unexpectedly" rose in February for the first time since June 2016, halting a seven-month decline, rebounding over the psychological $3 trillion level controls on capital outflows and a rally in the yuan. Total foreign reserve holdings increased by $6.9 billion to $3.005 trillion last month, exceeding the consensus estimate for a $30 billion decline to $2.969 trillion

US Stocks Are Now The Most Over-Priced Since The 2000 Crash

The single most important characteristic of any investment is the price when you buy it. It doesn’t matter how spectacular your investment is. If you overpay for it, you have no margin of safety. And as the market affirmed yesterday, US stock prices can be expressed in a single word: expensive.