Dumb Money

thetechnicaltake's picture

Weekly Sentiment Report: Horrific? Hardly!





I am sure those who were buying the "Kool-aid" at the market highs feel that way, but the numbers tell a different story.

 


Tyler Durden's picture

"When Does The Party End?”" - Goldman Finds Revenue Multiples Have Never Been Higher





According to Goldman, the median company’s EV/sales ratio is now the highest in 35 years, surpassing even the dot com bubble.

 


thetechnicaltake's picture

Weekly Sentiment Report: The Price Cycle





In essence, you need to be selling strength.

 


thetechnicaltake's picture

Weekly Sentiment Report: Is This the End?





The "Mixed Signals" from 2 weeks ago, which morphed into last week's clues, must mean something this week as the markets had their worse day in 7 months on Friday.

 


thetechnicaltake's picture

Weekly Sentiment Report: Searching for Clues





At these levels of bullish sentiment, fewer bulls isn't a contrarian signal but a sign that there are fewer investors willing to push the market higher.

 


thetechnicaltake's picture

Weekly Sentiment Report: It's Just a Number





That's the conundrum investors must face if they want in to this market now.

 


Tyler Durden's picture

Frontrunning: December 31





  • Firms to Face new Rules Over Pay, Taxes (WSJ)
  • US to test commercial drones at six sites (CNN)
  • China’s Local Debt Swells to 17.9 Trillion Yuan in Audit (BBG) - which is about 2 trillion less than where it actually is (Reuters)
  • Fears after key China debt level soars 70% (FT) and in reality the debt level is saoring far more
  • Pot Shops in Denver Open Door to $578 Million in Sales (BBG)
  • China Says It Will Shun Abe After Shrine Visit (WSJ)
  • De Blasio Taking Office Citing Wealth Gap as Crime Falls (BBG)
  • China Approves $353 Million of Share Sales as IPOs Resume (BBG)
  • Obama Seeks Way to Right His Ship (WSJ)
  • Netflix Tests Subscription Fees Based on Number of Account Users (BBG)
  • Three big macro questions for 2014  (FT)
 


Tyler Durden's picture

Fund Of Funds Implosion Forces Conversion Of Ever More Hedge Funds Into "Long-Onlies"





In a world in which the Chief Risk Officer of the formerly free capital markets, Ben Bernanke, has made any downside hedges obsolete (and as a result hedge funds have posted 5 years of returns without outperforming the S&P500), the first casualty has emerged: fund of funds. These parasitic, fee-soaking institutions, which merely collect a fee on top of the fees already charged by hedge funds, are rapidly on their way to extinction as the following charts from Eurekahedge prove conclusively. Naturally, the FOF industry which generates massive fees for its "value adding" managers, will not go down without a fight. And as Pensions and Investment reports, the FOFs have found a way to strike back: convert hedge funds into long only, idiot money, and we do enjoy the irony that in this centrally-planned market the idiot money is outperforming the smart, nimble asset managers by orders of magnitude.

 


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