• Tim Knight from...
    12/21/2014 - 09:37
    The five remaining equity bears on Earth are all saying the same thing: "We'll get 'em in 2015." To which I ask: why? What's going to change?

New York Stock Exchange

Pivotfarm's picture

LightIn TheBox: Chinese IPO Still Doing Good!





Goldman Sachs has suggested that there may be up to 349 Initial Public Offerings (IPOs) taking place in China this year. But, it’s not the Chinese capital markets that those companies will be wanting. Chinese firms are still hell-bent on getting floated on the world’s biggest and best stock exchange, and rightly so.

 
Pivotfarm's picture

5 Biggest IPO Fails in History





Here are the worst IPO fails of all time in the world. The ones that we thought would be unfailingly good. The ones that we thought we could bet our bottom dollar on and still strike it rich.

 
Tyler Durden's picture

18 Signs That Massive Economic Problems Are Erupting Everywhere





This is no time to be complacent.  Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine.  In fact, a whole bunch of recent polls and surveys show that the American people are starting to feel much better about how the U.S. economy is performing.  Unfortunately, the false prosperity that we are currently enjoying is not going to last much longer. Unfortunately, the majority appear to be purposely ignoring the economic horror that is breaking out all over the globe.

 

 
testosteronepit's picture

Next Shoe To Drop: Shoddy Solar Panels From China





A cruel twist for an already threatened industry.

 
Tyler Durden's picture

Guest Post: A Brief History Of Cycles And Time, Part 2





History never changes. Or, at least it changes very slowly indeed. So here we are, like those before us, warning of our own Great Depression, of our own World War, or of even larger cycles like the fall of the English, Spanish, or Roman empires. And so far as we can tell, few listen and nothing changes. Why? Because it isn’t time. Understanding long-term cycles, and how they shape our spectrum of responses in periods of crisis and transformation is key to comprehending what is to come (and how we will allow it to affect us). Do you really think your ancestors didn’t see the Depression coming in 1921 or in 1929? Of course they did. The Balloon Option-ARM mortgage had just been invented, creating a housing boom larger and even more groundless as our own, immortalized by the Marx Brothers in The Cocoanuts. They warned the world then just as we do now, and no one listened then, just as they don’t now. Why? It wasn’t time.

 
Tyler Durden's picture

The End Of 'Orderly And Fair Markets'





Capitalism may have bested communism a few decades ago, but exactly how our economic system allocates society’s scarce resources is now undergoing its first serious transformation since the NYSE’s founding fathers met under the buttonwood tree in 1792.  Technology, complexity and speed have already transformed how stocks trade; but As ConvergEx's Nick Colas notes, the real question now is what role these forces will play in long-term capital formation and allocation.  Rookie mistakes like the Twitter hack flash crash might be easy to deride, but make no mistake, Colas reminds us: the changes that started with high frequency and algorithmic trading are just the first step to an entirely different process of determining stock prices.  The only serious challenge this metamorphosis will likely face is a notable crash of the still-developing system and resultant regulation back to more strictly human-based processes.

 
Tyler Durden's picture

Frontrunning: April 19





  • Police Searching for 19-Year-Old Boston Bombing Suspect (BBG)
  • Mayhem Erupts in Boston After MIT Campus Officer Slain (BBG)
  • Elvis Impersonator Accused of Ricin Letters Sowing Fear (BBG)
  • Blackstone Pulls Out of Dell Bid on Rapidly Falling PC Sales (BBG)
  • Before Texas plant exploded: What did regulators know? (Reuters)
  • Aso Says Japan Policy Unopposed at G-20 Meeting as Yen Falls (BBG)
  • Bipartisan pair target $2.5tn US savings (FT)
  • Plan for new Cyprus vote casts uncertainty on bailout (Cyprus Mail)
  • Ireland picks through debtors’ lifestyles (FT)
 
Tyler Durden's picture

Frontrunning: April 9





  • JPMorgan Leads Job Cuts as Banks Seek to Bolster Profit (BBG)
  • North Koreans don't show for work at Kaesong factory park (Reuters), as NK urges foreigners to leave South Korea (FT)
  • Lisbon Struggles to Close New Budget Gap (WSJ)
  • Portugal may face delay to bailout funds (FT)
  • Putin Squeezing Out UBS to Deutsche Bank Using Oligarchs (BBG)
  • China's Xi Says Fast Growth Over (WSJ)
  • Spain’s PM wants more powers for ECB (FT)
  • Bernanke Says Interest on Reserves Would Be Main Tightening Tool (BBG)
  • Bird Flu Claims 7th Victim in China (WSJ)
  • Texting While Flying Linked to Commercial Helicopter Crash (BBG)... No, Bernanke wasn't the pilot
 
Reggie Middleton's picture

One Of Ireland's Biggest Banks Busted Fudging The Books? Nah! Busted Concealing Debt? Nah! Busted.. Cyprus Was Just The Preamble





Mounds of cold, hard, indisputable evidence not found ANYWHERE else! Damn, you thought Cyprus was newsworthy? Ireland already Troika'd & they're bigger than Cyprus. Depositor recap of banks looks inevitable if this research is right!

 
Tyler Durden's picture

NYSE Updates Q2 Circuit Breakers: All Day Halt If Dow Tumbles 4,350





According to the updated NYSE Q2 circuit breaker levels, it will take a 4,350 point drop in the NYSE for an all day trading halt. Of course, if the DJIA tumbles by 30% intraday, whether to close the several hundred shares trading on the NYSE will be the last thing on people's minds.

 
Tyler Durden's picture

Guest Post: The Final Con





The stock market has now been up for ten straight days. Many on Wall Street are singing “Happy Days Are Here Again.” For them, that is probably the case. They finally have something to sell that will bring the rubes back into the markets. We are not in Kansas anymore. Fear is ebbing and greed is coming back. Those on the outside looking in are rounding up cash so that they don’t get left behind. The shills assist them with their pictures of economic recovery, new era crap and whatever other nonsense they can peddle successfully. So the cycle goes, as it has since the New York Stock Exchange came into existence. We are in another game of musical chairs where the music is playing joyfully. As in all such events, there are too few chairs to accommodate the participants when the music stops. And it always does!

 
Tyler Durden's picture

"Return = Cash + Beta + Alpha": An Inside Look At The World's Biggest And Most Successful "Beta" Hedge Fund





Some time ago when we looked at the the performance of the world's largest and best returning hedge fund, Ray Dalio's Bridgewater, it had some $138 billion in assets. This number subsequently rose by $4 billion to $142 billion a week ago, however one thing remained the same: on a dollar for dollar basis, it is still the best performing and largest hedge fund of the past 20 years, and one which also has a remarkably low standard deviation of returns to boast. This is known to most people. What is less known, however, is that the two funds that comprise the entity known as "Bridgewater" serve two distinct purposes: while the Pure Alpha fund is, as its name implies, a chaser of alpha, or the 'tactical', active return component of an investment, the All Weather fund has a simple "beta isolate and capture" premise, and seeks to generate a modestly better return than the market using a mixture of equity and bonds investments and leverage. Ironically, as we foretold back in 2009, in the age of ZIRP, virtually every "actively managed" hedge fund would soon become not more than a massively levered beta chaser however charging an "alpha" fund's 2 and 20 fee structure. At least Ray Dalio is honest about where the return comes from without hiding behind meaningless concepts and lugubrious econospeak drollery. Courtesy of "The All Weather Story: How Bridgewater created the All Weather investment strategy, the foundation of the "risk parity" movement" everyone else can learn that answer too.

 
Tyler Durden's picture

Frontrunning: December 20





  • IMF Demands Partial Default for Cyprus (Spiegel)
  • Boehner's 'Plan B' Gets Pushback (WSJ)
  • Beijing criticises US ‘political checks’ (FT)
  • White House Said to Tell Business Groups Talks Stall (BBG)
  • NYSE tries to get hitched again: IntercontinentalExchange in talks to buy NYSE (Reuters) -> N-Ice coming?
  • Greece faces ‘make or break’ year (FT)
  • Fed rejects idea of consensus forecasts, "maybe forever": Fisher (Reuters)
  • Rajoy Drives Spanish Revolution With Low-Cost Manufacture (BBG)
  • Italian Senate Set for Budget Vote Before Monti Resigns (BBG)
  • BOJ Loosens With Pledge to Review Inflation Objectives (BBG)
  • Bowing To Abe, BOJ To Review Price Goal (WSJ)
 
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