Tyler Durden's picture

You Know Iraq's Bad When...





While Malaysian Airlines may have still been flying over warzones, it appears things have become so unstable and dangerous in Iraq that none other than Emirates Airlines has chosen to "re-route' around the troubled nation:

*EMIRATES TAKING PRECAUTIONARY MEASURES TO AVOID IRAQ AIR SPACE

The re-routing is expected to take a few days according to an emailed statement as Emirates joins numerous other airlines in avoiding playing 'missile launcher roulette' with their passenger's lives to save a few bucks on gas. Of course, with the world increasingly at war, airspace (and energy) needs may soon be at a premium once again.

 
Tyler Durden's picture

NYSE Margin Debt Storms Back To All Time Highs





After dropping modestly from all time highs hit in February, NYSE margin debt has recouped virtually all its losses and is now essentially back to all time highs. And as a parallel to that, investor net worth, defined as total Free Credit Cash and Credit Balances in Margin accounts less Margin Debt, has once again dropped to all time lows.

 
Tyler Durden's picture

Here's How Obama Can Halt "Tax Inversions" Without Congress (& Why It Doesn't Matter)





As the topic of "unpatriotic" 'tax inversions' becomes a political issue, we thought it interesting to examine how big an economic issue it really is. How much income tax do U.S. companies actually pay every year to the Federal government? As ConvergEx's Nick Colas notes, the simple answer is “Not much”, at least as compared to any other major source of revenue. In Fiscal 2013, Colas adds, the total was $274 billion, or just 9.9% of all tax and withholding receipts. Your political leanings will inform your opinion about whether that number is too high or too low, of course; but we point out that, as Reuters reports, a former  international tax counsel at Treasury explains Obama could "slam dunk" dictate an end to 'tax inversions' without Congressional approval (by invoking a little known 1969 tax law)

 
Tyler Durden's picture

Marc Faber Responds To CNBC Mockery, Asks "How Has CNBC's Portfolio Done Since 1999?"





Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC's Scott Wapner reading off a litany of recent calls that have not worked out as planned. His response was notable: "I started to work in 1970, and over that career, somehow, somewhere, I must have made some right calls; otherwise I wouldn't be in business." What CNBC then edited out of the transcript was Faber pointing out his 22% annualized return in his publicly-viewable funds since then and asking - sounding somewhat frustrated at the anchor's mockery (and background snickers) - "I wonder what the CNBC portfolio would look like since 1999?" The response: silence.

 
Tyler Durden's picture

Why Herbalife Is Crashing After Hours In Two Charts





Here are the two most important charts which explain why the stock is crashing over 11% after hours.

 
Tyler Durden's picture

Most Transparent Insider Trading Congress Ever Tells SEC To Shove it





"Do as we say, not as we do," appears the modus operandi of the current administration's increasingly totalitarian regime. Today's edition of 'wait, what?' comes from The WSJ who report that The U.S. House of Representatives told a federal court Friday it should dismiss a lawsuit filed by the SEC (regarding the long-running insider-trading investigation) because Congress is lawfully allowed to ignore requests to turn over records and testimony to the executive branch agency. Arguing "sovereign immunity" and responding in a rather snarky (almost "do you know who we are?" manner), House attorneys blasted the SEC's "fool's errand."

 
Tyler Durden's picture

Here Are The Most Shorted S&P And Russell Stocks (Yes, Trulia Is One Of Them)





Earlier today, countless investors who still foolishly believe that in the new normal "fundamentals" matter, screamed out in terror when Zillow announced that it would acquire Trulia for $3.5 billion or a 20% premium to the Friday close, and were suddenly silenced. The reason: with 38% of its float short (making it the 30th most shorted stock in the Russell 2000), this was one of the most dramatic confirmations of what we said was the best trading strategy under the Fed's artificial and capital misallocation regime, namely "buying the most hated names to generate the most alpha." So for all those who still believe that the market has quite a ways to go under the yoke of the Fed's centrally-planning before it all crashes into a house of rigged cards, here is the list of the most shorted stocks in the S&P500 and Russell2000, sorted by descending short interest as a % of float.

 
Tyler Durden's picture

High-Yield Credit Hits 10-Week Wides As Stocks Bounceback To Unch





Despite an early dump on dismal data, US equity markets (except Trannies) 'v-shape-recovery'ed back up to unchanged or better (as Europe closed and POMO ended) on the heels of an increasingly more beta-sensitive AUDJPY rampfest. Trannies never really recovered (3rd down day in a row) and Russell was less exuberant in its dead-cat-bounce but the Dow and S&P closed very modestly green. High-yield credit markets continue to widen - now at 10-week wides (up 35bps from tights) - notably divergent from stocks. Away from the shenanigans in stocks, the USD ended unchanged; Treasury yields were up 1-2bps; and gold closed very modestly lower. Oil slipped 0.5% to $101.60. VIX closed unch. Only the Nasdaq is green post MH17 Headlines on 7/17 and The Russell 2000 is -1.9% and Homebuilders -9% year-to-date.

 
Tyler Durden's picture

Peak IPO





For a while the window 'grab-the-greater-fool's-money' had closed... but with stocks surging back to all-time record highs on the back of dismal data and dangerous geopolitics, the IPO bandwagon has once again exploded as 25 new names are expected to attempt to squeeze through the door this week before it once again slams shut. As WSJ notes, this is the highest number of IPOs in a week since August 2000. Is this Peak IPO? Or will it go Peak-er?

 
Tyler Durden's picture

Here's What Wall Street Bulls Were Saying In December 2007





The attached Barron’s article appeared in December 2007 as an outlook for the year ahead, and Wall Street strategists were waxing bullish. Notwithstanding the advanced state of disarray in the housing and mortgage markets, soaring global oil prices and a domestic economic expansion cycle that was faltering and getting long in the tooth, Wall Street strategists were still hitting the “buy” key. In fact, the Great Recession had already started but they didn’t have a clue: "Against this troubling backdrop, it’s no wonder investors are worried that the bull market might end in 2008. But Wall Street’s top equity strategists are quick to dismiss such fears."

 

 
Reggie Middleton's picture

Measuring How Much Poorly Thought Out Regulation Hurts The US Consumer?





Clear examples of how the wrong regulation HURTS the US consumer, and how to do something about it.

 
Phoenix Capital Research's picture

The Truth About the Fed’s Relationship With Bubbles





The Fed wants asset bubbles because they hide the rot within the US economy. If the Fed didn’t raise stock or housing prices, people might actually start to wonder… “hey, why is my life getting more and more difficult despite the fact that I’m working all the time?”

 
Tyler Durden's picture

Mapping The Global Contagion From Portugal's Systemic Banking Crisis





As multiple entities of one of Europe's largest banking dynasties rapidly crumble into bankruptcy, there are bound to be ramifications. With even the Portuguese President fearing Espirito Santo's systemic impact, we thought the following chart from Thomson Reuters would highlight the fact that is far more than just a Portugal thing... it has notable consequences for large businesses from Brazil to Mozambique.

 
Tyler Durden's picture

US-Israeli Relationship In Jeopardy, Kerry "Ruined Everything"





Is there anyone in the world who is not mocking John Kerry? As AP reports, Obama administration officials were fuming Monday over a torrent of Israeli criticism of Secretary of State John Kerry's latest bid to secure a cease-fire between Israel and Hamas. Israeli media commentators have leveled almost nonstop criticism at Kerry in recent days over his attempts to bring Qatar and Turkey — two countries viewed by Israel as strong Hamas supporters — into the cease-fire negotiations - "U.S. Secretary of State of State John Kerry ruined everything." The White House is not happy - in unusually harsh language, officials said the criticism of Kerry could put the relationship between the U.S. and Israel in jeopardy. They also said the personal attacks on Kerry crossed a line. Another red line crossed?

 
Syndicate content
Do NOT follow this link or you will be banned from the site!