I disagree with Paul Krugman from time to time but he presents an excellent breakdown of the credit problems stemming from the housing bubble here. In general, Krugman, despite being an economist, usually has a good grasp on reality. It probably has something to do with his political bent as politics means you have to [...]
I was a bit out of it yesterday but feeling much better today. Yesterday’s market action had a feel of PPT to it. Once the markets went negative and came back, it just felt “unnatural”. In soccer/football, they call it “against the run of play” when the team that’s been on its back heels the [...]
Obviously, the Fed will cut today. Whether it be 25 or 50 bp, I’m leaning toward the latter but really, I’m not that vested in today’s decision. I’m positioned to benefit in the intermediate-term from the Fed’s obvious easing cycle. Whether that happens today or over the course of the next year isn’t important (and [...]
For the (few) people who’ve been following my website and now blog for most of the year, you know I’ve been echoing the same themes again and again. But to recap quickly: 1. Peak oil is a reality. Do not be fooled by this asinine focus on weekly inventory numbers. Do not confuse production capacity [...]
I’ve posted my research report for Ensco (ESV) on the Enlightened-American website. It comes in 6 parts: Main Page+Updates Risks Upside Competitors Valuation/Investment Thesis Management, Probable Outcomes & Performance Targets Take care out there.
Watching today’s market action reminds me of the 2004 US Presidential election aftermath and the infamous headline, “How can 59,054,087 people be so DUMB?” The Bank of England announced a cut in their interest rate to 5.5% and the markets responded with the FTSE 100 ending slightly down on the day. Who can really say [...]
