Before I release my opinion of JPM's most quarterly results, I want to demonstrate the risk that banks take in releasing provisions to boost accounting earnings in this environment. After reading this in its entirety, JPM shareholders should be infuriated at JPM management's actions, which are sure to be reversed in the near to medium term. It is not as if the accounting earnings boost has fooled anyone and lifted the stock, which is currently down on an up day.
The media is staring at the wrong target. Each major media outlet is copying what is popular or what the next outlet broke as a story versus where the true economic risks actually lie. Here's what's truly at stake – the United States is now at risk of losing its hegemony as the financial capital of the world!
Now that Research in Motion has reached our valuation target and offered the opportunity for material gain for our subscribers, I have decided to released the full 45 page professional Forensic Valuation report to the public. It is quite extensive, and has been quite accurate to date…
The National Association of Realtors is a marketing engine with what some may call (but not I, of course) comedians for chief economists, yet their data and their economist’s opinions are quoted regularly in credible, mainstream financial news shows and newspapers. WHY???!!! On that note… Bloomberg reports the NAR states "Pending U.S. Sales of Existing Homes Increase 4.3%"
Yeah, I know what you're saying as you read this, but many of the signs are there. Here are the legal, economic and financial widgets to contribute to an interesting crowdsourced debate, discussion and analysis for the weekend.
There goes the markets for a day, or two, or seven hundred and twenty, or however long it will take for rational and sane investors to trust these markets, ever again.
Now that the Case Shiller index has been the housing sound bite du jour, many would benefit in knowing that the index was designed to filter out the vast majority of the factors that are dragging down home prices today. That means that despite the fact that this most recent CS reading shows prices on the decline again, it in no way captures the whole picture. Even more pertinent, the parts that it doesn't capture are the worse parts. The Case Shiller index makes the housing downturn look downright rosy in comparison to the data on the streets - but you won't hear this from the mainstream financial media!
