• Marc To Market
    08/29/2015 - 10:18
    Dollar recovered from the exaggerated panic at the start of last week.  Outlook is still constructive.  Here is an overview of the technical condition of currencies, bonds, oil , and S&...

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Nassim Taleb's Fund Made $1 Billion On Monday; This Is How The Other "Hedge" Funds Did





You can't say Nassim Taleb didn't warn you: the outspoken academic-philosopher, best known for his prediction that six sigma "fat tail", or black swan, events happen much more frequently than they should statistically (perhaps a main reason why there is no longer a market but a centrally-planned cesspool of academic intervention) just had a black swan land smack in the middle of the Universa hedge fund founded by ardent Ron Paul supporter Mark Spitznagel, and affiliated with Nassim Taleb. The result: a $1 billion payday, translating into a 20% YTD return, in a week when the VIX exploded from the teens to over 50, and which most other hedge funds would love to forget.

 
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JPM Head Quant Warns Second Market Crash May Be Imminent: Violent Selling Could Return On Thursday





"Price insensitive" flows are starting to materialize, and our goal is to estimate their likely size and timing. These technical flows are determined by algorithms and risk limits, and can hence push the market away from fundamentals.  The obvious risk is if these technical flows outsize fundamental buyers. In the current environment of low liquidity, they may cause a market crash such as the one we saw at the US market open on Mondaay"

 
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1000s Of Political Figures Are Stashing Cash In Swiss Accounts, Foreign Ministry Admits





In spite of all the attention the nation has received in recent years, SCMP reports that thousands of so-called "politically exposed persons”, or PEPs - a category that includes heads of state and other top officials - hold Swiss bank accounts, a Swiss foreign ministry official said. But, perhaps not for much longer as Bern aims to finalize a law aimed at simplifying the process of freezing and unblocking such funds.

 
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The Fun-Durr-Mental Reason Why Stocks Are Bouncing (Again)





... or why the number 119.00 is the most important in the world right now...

 
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The Raping Of America: Mile Markers On The Road To Fascism





There’s an ill will blowing across the country. The economy is tanking. The people are directionless, and politics provides no answer. And like former regimes, the militarized police have stepped up to provide a façade of law and order manifested by an overt violence against the citizenry. Americans must break free of the apathy-inducing turpor of politics, entertainment spectacles and manufactured news. Only once we are free of the chains that bind us—or to be more exact, the chains that “blind” us—can we become actively aware of the injustices taking place around us and demand freedom of our oppressors.

 
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Why Government Hates Cash





The reason given by our rulers for suppressing cash is to keep society safe from terrorists, tax evaders, money launderers, drug cartels, and other villains real or imagined. The actual aim of the ?ood of laws restricting or even prohibiting the use of cash is to force the public to make payments through the financial system. This enables governments to expand their ability to spy on and keep track of their citizens’ most private financial dealings, in order to milk their citizens of every last dollar of tax payments that they claim are due.

 
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How Big Are China's Man-Made Military Outposts? The Pentagon Explains





Apparently, someone at the Pentagon thought that between the four-year civil war in Syria, the heightened violence in Turkey, the proxy war in Ukraine, and the threat of a new war in the Korean Peninsula, the geopolitical situation wasn’t unstable enough, because on Thursday the DoD issued a report entitled "Asia Pacific Maritime Security Strategy," in which a considerable amount of space is spent discussing China’s land reclamation efforts in the Spratlys.

 
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Why The Market Is Crashing Into The Close: JPM Explains





Curious why someone just pulled a trapdoor from under the market? JPM's Marko Kolanovic, head of quant strategies explains. "Given that the market is already down ~2%, we expect the market selloff to accelerate after 3:30PM into the close with peak hedging pressure ~3:45PM."

 
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You've Been Warned: Spotify Wants To Spy On You In Every Way Imaginable





"Music streaming market leader Spotify has decided that it wants to know a lot more about you. It wants to be able to access the sensor information on your phone so it can determine whether you’re walking, running or standing still. It wants to know your GPS coordinates, grab photos from your phone and look through your contacts too. And it may share that information with its partners, so a whole load of companies could know exactly where you are and what you’re up to."

 
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What Obama Gets Wrong On Foreign Policy





"When does the statute of limitations on blaming President George W. Bush for the record of the current administration finally expire? Obama [has become] the president who, to use one of Rose’s baseball metaphors, called his shot only to strike out."

 
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What "Smart" Money? Hedge Funds Underperform Market For Seventh Straight Year





"After roughly matching the S&P 500 through most of 1H 2015, funds lowered net exposures as the market declined in late June and failed to benefit as the index rebounded in July. The typical fund has returned +0.5% YTD, with equity long/short funds rising 1.3% and event-driven funds falling by 2.0%."

 
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10 Reasons Why The Fed Won't Raise Interest Rates





With the confused FOMC still stuck on the fence of raising rates (or not), here are ten reasons why they won't.. and a caveat in case we're wrong...

 
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Frontrunning: August 17





  • Oil moves nearer six-year low on Japan data, oversupply (Reuters)
  • Commodity Slide Spurs Treasuries as Emerging Markets Extend Drop (BBG)
  • Because 7 years is "just right" - BOE Official Says Don’t Wait Too Long on Rates (WSJ)
  • How Medicare Rewards Copious Nursing-Home Therapy (WSJ)
  • Millennials Are Developing Parents’ Taste for Jaguars, Cadillacs (BBG) ... and even more debt
  • Mexican Billionaire’s Firms Swept Up in U.S. Probe of Citigroup (BBG)
 
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New Snowden Leak Exposes AT&T's "Extreme Willingness To Help" NSA Spy On Americans





Newly disclosed NSA files expose the spy agency's relationship through the years with American telecoms companies. As NYTimes reports, The National Security Agency’s ability to spy on vast quantities of Internet traffic passing through the United States has relied on its extraordinary, decades-long partnership with a single company: the telecom giant AT&T. The documents, provided by the former agency contractor Edward Snowden, described the NSA-AT&T relationship as "highly collaborative," while another lauded the company’s "extreme willingness to help."

 
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