GOLDMAN SACHS RECEIVES FOMC MINUTES EARLY
http://finance.yahoo.com/blogs/daily-ticker/don-t-trust-market-not-alone-good-reason-151040450.html
YOUR ZIP CODE OR PRIVACY
http://money.cnn.com/2013/04/18/pf/data-privacy/index.html
ONLINE HEATS UP
http://www.reuters.com/article/2013/04/10/us-socialmedia-behaviour-survey-idUSBRE9390TO20130410
LOOKS AS IF OFFLINE IS HEATING UP TOO
http://www.testosteronepit.com/home/2013/4/14/europes-stark-choice-resignation-or-revolution.html
MORPHING KNOWS NO BOUNDARIES
http://www.burtprelutsky.com/
MORPH IS TO GOAL AS
http://www.zerohedge.com/news/2013-04-18/guest-post-goal-destroy-all-constitutional-culture
FOR AWHILE
A friend who really liked the ladies told us years ago, it's not what comes before, but after the but that counts, as in: "You're a really nice guy, but......."
It turns out over the years that's been a pretty decent philosophy when it comes to making money in the market.
Run a little test the next few weeks and count how many negative headlines you see about metals and mining stocks. Now this isn't a spinoff of the noted magazine cover indicator. It's a necessary precursor.
Pundits love to be right. And so does nearly everyone else. People also like confirmation. And that's fine. It's a plausible, understandable character flaw.
Confirmation and loneliness are polar opposites. Depending on your viewpoint both can make you feel good. We usually feel best when we're the loneliest. And we have a feeling we're going to be feeling that way about certain segments of the market for a while.
If we're really, really lucky for a while will translate into just enough time to build a nice position before the unexpected happens.
Friday, April 19, 2013
FRIDAY GOLD READ
SURE THEY DID
http://blogs.marketwatch.com/thetell/2013/04/18/how-goldman-saw-the-gold-crash-coming-that-others-missed/
FORBES PIPES IN
http://www.moneynews.com/newswidget/Forbes-gold-Fed-economy/2013/04/17/id/499985?promo_code=F492-1&utm_source=Test_Newsmax_Feed&utm_medium=nmwidget&utm_campaign=widgetphase1
BUFFETT PIPES IN
http://www.bloomberg.com/news/2013-04-17/buffett-mocking-gold-sidesteps-slump-as-he-bets-on-stocks.html
GOLD IS BUSTED
http://chartsetcetera.blogspot.com/2013/04/gold-is-broken.html
COIN SALES SOAR AS PRICES FALL
http://online.wsj.com/article/SB10001424127887324493704578428332095974800.html?mod=WSJ_WorldMarkets_LeadStory
MINERS HAVE BIGGER ISSUES
http://investorplace.com/2013/04/miners-have-bigger-issues-than-gold-prices/
MINERS MISS OUT
http://online.wsj.com/article/SB10001424127887324763404578428803208832248.html?KEYWORDS=HEARD+ON+THE+STREET
WHERE ARE WE NOW
http://markdow.tumblr.com/post/48094365440/gold-and-silver-where-do-we-go-from-here
http://blogs.marketwatch.com/thetell/2013/04/18/how-goldman-saw-the-gold-crash-coming-that-others-missed/
FORBES PIPES IN
http://www.moneynews.com/newswidget/Forbes-gold-Fed-economy/2013/04/17/id/499985?promo_code=F492-1&utm_source=Test_Newsmax_Feed&utm_medium=nmwidget&utm_campaign=widgetphase1
BUFFETT PIPES IN
http://www.bloomberg.com/news/2013-04-17/buffett-mocking-gold-sidesteps-slump-as-he-bets-on-stocks.html
GOLD IS BUSTED
http://chartsetcetera.blogspot.com/2013/04/gold-is-broken.html
COIN SALES SOAR AS PRICES FALL
http://online.wsj.com/article/SB10001424127887324493704578428332095974800.html?mod=WSJ_WorldMarkets_LeadStory
MINERS HAVE BIGGER ISSUES
http://investorplace.com/2013/04/miners-have-bigger-issues-than-gold-prices/
MINERS MISS OUT
http://online.wsj.com/article/SB10001424127887324763404578428803208832248.html?KEYWORDS=HEARD+ON+THE+STREET
WHERE ARE WE NOW
http://markdow.tumblr.com/post/48094365440/gold-and-silver-where-do-we-go-from-here
EMBARGOED
Goldman Sachs was one of several that received copy of FOMC minutes 19 hours before anyone else.
Some quotes here about embargoes.
http://dailyspeculations.com/wordpress/
Some quotes here about embargoes.
http://dailyspeculations.com/wordpress/
Thursday, April 18, 2013
BEN FRANKLIN AND THE IMF
Here's a headline from a story in yesterday's WSJ: "IMF Renews Push Against Austerity."
The first paragraph, as it should, pretty much says it all.
"Seeking to keep a fragile global recovery on track, the IMF called on countries that can afford it--including the U.S. and Great Britain--to slow the pace of their austerity measures."
Forget horses. Most of these so-called leaders around the globe would give up their fiefdoms for some growth. Well, maybe that's a bit too strong. These folks never give up anything, especially anything so lucrative and cushy.
But it's safe to say they're feeling some pressure, something the IMF is doing all in it bureaucratic power to ablate.
In its semi-annual report on growth, the fund warned that across the board cuts, referring to sequester, would be a mistake leading to slower growth. They labeled it the "wrong way" to shrink the budget deficit.
Then they rolled out a few their favorite code terms. One of them is targeted reductions. Most likely in their vernacular cuts is too harsh, too graphic, too exact. These folks thrive on wiggle room.
It's their bureaucratic hyperbaric chamber. Like Count Dracula that's where they spend most of their time. Cuts the fund noted should take place further down the road. They failed to name the road. But a decent guess might be: Never Lane or Circle Drive.
Keep in mind the IMF is home to more bureaucrats than a national political party convention. Fiscal cuts equals fewer bureaucrat jobs and fewer lush benefits. Slowing or halting across the board cuts is bureaucratic code speak for not right now.
A large fortune awaits some creative entrepreneurial soul who comes out with the first video game called: "Advance the Can." Every bureaucrat on the planet will want one.
If only Ben Franklin were still among us. Ole Ben was known for many things, including his aphorisms. Here's one obviously most bureaucrats never heard: "A stitch in time saves nine."
http://online.wsj.com/article/SB10001424127887323346304578426502903053768.html
The first paragraph, as it should, pretty much says it all.
"Seeking to keep a fragile global recovery on track, the IMF called on countries that can afford it--including the U.S. and Great Britain--to slow the pace of their austerity measures."
Forget horses. Most of these so-called leaders around the globe would give up their fiefdoms for some growth. Well, maybe that's a bit too strong. These folks never give up anything, especially anything so lucrative and cushy.
But it's safe to say they're feeling some pressure, something the IMF is doing all in it bureaucratic power to ablate.
In its semi-annual report on growth, the fund warned that across the board cuts, referring to sequester, would be a mistake leading to slower growth. They labeled it the "wrong way" to shrink the budget deficit.
Then they rolled out a few their favorite code terms. One of them is targeted reductions. Most likely in their vernacular cuts is too harsh, too graphic, too exact. These folks thrive on wiggle room.
It's their bureaucratic hyperbaric chamber. Like Count Dracula that's where they spend most of their time. Cuts the fund noted should take place further down the road. They failed to name the road. But a decent guess might be: Never Lane or Circle Drive.
Keep in mind the IMF is home to more bureaucrats than a national political party convention. Fiscal cuts equals fewer bureaucrat jobs and fewer lush benefits. Slowing or halting across the board cuts is bureaucratic code speak for not right now.
A large fortune awaits some creative entrepreneurial soul who comes out with the first video game called: "Advance the Can." Every bureaucrat on the planet will want one.
If only Ben Franklin were still among us. Ole Ben was known for many things, including his aphorisms. Here's one obviously most bureaucrats never heard: "A stitch in time saves nine."
http://online.wsj.com/article/SB10001424127887323346304578426502903053768.html
THURSDAY READS
The Gloom About Gold Piles Up
http://investorplace.com/2013/04/miners-have-bigger-issues-than-gold-prices/
Change In Route
http://oilprice.com/Latest-Energy-News/World-News/Keystone-XL-Route-Change-Puts-Environmentalists-on-the-Back-Foot.html
Hog Glut http://www.futuresmag.com/2013/04/17/hog-glut-gains-as-us-exports-drop-most-in-decade?ref=hp&t=commodities
A Bite From Apple
http://www.minyanville.com/sectors/technology/articles/Apple2527s-Problem-With-iPhone-Numbers-tech/4/17/2013/id/49303
Alaska Says It's Back http://www.nytimes.com/2013/04/16/business/energy-environment/alaska-grants-a-tax-break-to-oil-companies.html?_r=0
Muni Downgrade Possible
http://www.marketwatch.com/story/moodys-may-downgrade-125-billion-in-muni-debt-2013-04-17
Scientists Reverse Memory Loss In Brain Cells
http://www.sciencedaily.com/releases/2013/04/130417164451.htm
http://investorplace.com/2013/04/miners-have-bigger-issues-than-gold-prices/
Change In Route
http://oilprice.com/Latest-Energy-News/World-News/Keystone-XL-Route-Change-Puts-Environmentalists-on-the-Back-Foot.html
Hog Glut http://www.futuresmag.com/2013/04/17/hog-glut-gains-as-us-exports-drop-most-in-decade?ref=hp&t=commodities
A Bite From Apple
http://www.minyanville.com/sectors/technology/articles/Apple2527s-Problem-With-iPhone-Numbers-tech/4/17/2013/id/49303
Alaska Says It's Back http://www.nytimes.com/2013/04/16/business/energy-environment/alaska-grants-a-tax-break-to-oil-companies.html?_r=0
Muni Downgrade Possible
http://www.marketwatch.com/story/moodys-may-downgrade-125-billion-in-muni-debt-2013-04-17
Scientists Reverse Memory Loss In Brain Cells
http://www.sciencedaily.com/releases/2013/04/130417164451.htm
Wednesday, April 17, 2013
IT AIN'T MONETARY POLICY
Bundesbank President Jens Weidmann in an interview today with the WSJ floated the notion EU recovery could take 10 years.
It obviously wasn't something Europe's politically elite wanted to hear. It also sent a shot across the bow of those leaders who have recently suggested the EU's problems were mostly rear-view mirror.
Hardly a single interplanetary soul isn't aware such could mean: hello Japan, not a pleasant table setting to enjoy a good meal.
Weidmann further suggested leaders needed to step up by overhauling some things, an oblique reference many believe to the fiscal train wreck that the EU is, and make funds available to small businesses.
Weidmann concluded that he didn't think monetary policy "is the key."
http://online.wsj.com/article/SB10001424127887324493704578428552244471438.html?mod=WSJ_hp_LEFTWhatsNewsCollection
It obviously wasn't something Europe's politically elite wanted to hear. It also sent a shot across the bow of those leaders who have recently suggested the EU's problems were mostly rear-view mirror.
Hardly a single interplanetary soul isn't aware such could mean: hello Japan, not a pleasant table setting to enjoy a good meal.
Weidmann further suggested leaders needed to step up by overhauling some things, an oblique reference many believe to the fiscal train wreck that the EU is, and make funds available to small businesses.
Weidmann concluded that he didn't think monetary policy "is the key."
http://online.wsj.com/article/SB10001424127887324493704578428552244471438.html?mod=WSJ_hp_LEFTWhatsNewsCollection
WEDNESDAY READS
BUNDESBANK PRESIDENT INTERVIEW TODAY
http://blogs.wsj.com/eurocrisis/2013/04/17/jens-weidmann-qa/?KEYWORDS=Bundesbank+president
CONSIDER THE SOURCE
http://www.money.cnn.com/2013/04/17/news/economy/china-green-energy/index.html?iid=SF_BN_LN
CYPRUS SAGA CONTINUES
http://www.reuters.com/article/2013/04/17/cyprus-bailout-vote-idUSL5N0D42R020130417
EARNINGS WATCH
http://www.bloomberg.com/news/2013-04-17/u-s-stock-index-futures-drop-yahoo-sinks-on-forecast.html
LEFT VERSUS RIGHT FILM
http://www.newsmax.com/US/hating-breitbart-film-release/2013/04/17/id/499953
LEFF HAND RIGHT SYNDROME
http://www.marctomarket.com/2013/04/great-graphic-another-look-at-emu.html
MORE FED TALK
http://www.marketwatch.com/story/feds-plosser-wants-to-start-towards-qe-exit-2013-04-16?dist=lbeforebell
PINCHING THE POKE AT PROCTER
http://online.wsj.com/article/SB10001424127887324010704578418361635041842.html?mod=ITP_pageone_0
Tuesday, April 16, 2013
GOLD AS A HEDGE
Too many believe that gold is a hedge against inflation.
And it is but only indirectly. Gold is a hedge against central bank and government incompetence.
"I'm from the government and I'm here to help you." Besides "I promise to faithfully...," there's probably few more dangerous words around.
Notice in the last few days how often the 1300 level's been mentioned in MSM. The parrots are in good cackling order. Forget crackers. What these folks really want is restitution.
In this case restitution of their alleged reputation as financial seers. Something with gold hanging on above 1600 was, like the words of an old Simon and Garfunkle tune, slip, sliding away.
If you understand the definiton of concerted, you're starting to get it. This is little more than a not-so-subtle concerted effort to pour more oil on the printing presses--the usual bureuacrat soultion to WTF's happening here?
Gun control is a hot button issue these days. But what about Ph.d-control? The damage these folks can wreak, to use a good economic term, is incalculable. Maybe we should label it, aggregate damage, so nobody would understand.
The one thing you need to understand--and soon if you don't already--is nobody's safe.
And now you know what gold is. So keep your construction-site hard helmet close at hand.
11
And it is but only indirectly. Gold is a hedge against central bank and government incompetence.
"I'm from the government and I'm here to help you." Besides "I promise to faithfully...," there's probably few more dangerous words around.
Notice in the last few days how often the 1300 level's been mentioned in MSM. The parrots are in good cackling order. Forget crackers. What these folks really want is restitution.
In this case restitution of their alleged reputation as financial seers. Something with gold hanging on above 1600 was, like the words of an old Simon and Garfunkle tune, slip, sliding away.
If you understand the definiton of concerted, you're starting to get it. This is little more than a not-so-subtle concerted effort to pour more oil on the printing presses--the usual bureuacrat soultion to WTF's happening here?
Gun control is a hot button issue these days. But what about Ph.d-control? The damage these folks can wreak, to use a good economic term, is incalculable. Maybe we should label it, aggregate damage, so nobody would understand.
The one thing you need to understand--and soon if you don't already--is nobody's safe.
And now you know what gold is. So keep your construction-site hard helmet close at hand.
11
THEY NEED YOUR TEARS
"As a result, people are getting increasingly creative at skirting controls."
The above quote could be a segue into a discussion about tax evasion or tax avoidance, only one of which many seemingly forget is illegal--evasion.
It's a story from today's WSJ about what happens when bureaucrats debase a currency and the people lose faith in their government. It's a story for those who believe it can never or won't ever happen here. See Boston marathon.
It's a story for the most part being crowded out by other, seemingly more pressing events. It's a story about Argentina, a nation more than a little familiar with inflation, currency messes and incompetent governments. See history.
It's also a story about government statistical legerdemain every government in existence has and will continue to practice until people stand up to them. See inflation rate.
http://online.wsj.com/article/SB10001424127887324010704578418662965631052.html?KEYWORDS=ARGENTINA
The above quote could be a segue into a discussion about tax evasion or tax avoidance, only one of which many seemingly forget is illegal--evasion.
It's a story from today's WSJ about what happens when bureaucrats debase a currency and the people lose faith in their government. It's a story for those who believe it can never or won't ever happen here. See Boston marathon.
It's a story for the most part being crowded out by other, seemingly more pressing events. It's a story about Argentina, a nation more than a little familiar with inflation, currency messes and incompetent governments. See history.
It's also a story about government statistical legerdemain every government in existence has and will continue to practice until people stand up to them. See inflation rate.
http://online.wsj.com/article/SB10001424127887324010704578418662965631052.html?KEYWORDS=ARGENTINA
TUESDAY READS
NO SURPRISE
http://money.cnn.com/2013/04/16/autos/aaa-driving-costs/index.html
WHAT'S NEW
http://online.wsj.com/article/SB10001424127887324345804578424480045988240.html?mod=ITP_pageone_1
GOLDMAN SACHS REPORTS
http://blogs.wsj.com/moneybeat/2013/04/16/goldmans-investments-in-companies-pay-off/
THE EU PICTURE
http://www.guardian.co.uk/business/2013/apr/16/eurozone-crisis-growth-markets-oil-price
SACRED NO MORE
http://www.testosteronepit.com/home/2013/4/15/public-pension-plans-to-share-the-pain.html
MARKETS DOWN http://money.cnn.com/2013/04/15/investing/world-markets/index.html?iid=s_mpm
UP OVERNIGHT
http://www.marketwatch.com/story/us-stock-futures-push-higher-as-gold-gains-2013-04-16?dist=lbeforebell
http://money.cnn.com/2013/04/16/autos/aaa-driving-costs/index.html
WHAT'S NEW
http://online.wsj.com/article/SB10001424127887324345804578424480045988240.html?mod=ITP_pageone_1
GOLDMAN SACHS REPORTS
http://blogs.wsj.com/moneybeat/2013/04/16/goldmans-investments-in-companies-pay-off/
THE EU PICTURE
http://www.guardian.co.uk/business/2013/apr/16/eurozone-crisis-growth-markets-oil-price
SACRED NO MORE
http://www.testosteronepit.com/home/2013/4/15/public-pension-plans-to-share-the-pain.html
MARKETS DOWN http://money.cnn.com/2013/04/15/investing/world-markets/index.html?iid=s_mpm
UP OVERNIGHT
http://www.marketwatch.com/story/us-stock-futures-push-higher-as-gold-gains-2013-04-16?dist=lbeforebell
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