bulls

Around the time that the re-opening rally began to consolidate, I developed a thesis that we would have to wait until September and October before we would know more clearly how the economy would perform over the medium-term. And my view…

Tesla On Thursday, I wrote that "Tesla has been forced to pony up for those converts. They now have $2.2 billion, $1.5 billion less than at the end of the last quarter. I think the need for more capital is a question of when, not if. But if…

Despite my unease about the secular headwinds of debt, bank balance sheets and wage stagnation, I must admit that many of the recent macro data points globally are pointing to growth. This is true in the US, in Europe, in Japan and in…

As I was preparing to write my annual "Outlook and Forecast" for 2014, I read many different views from major Wall Street firms to get a general feel of the consensus. However, during the course of my research I read one piece of work in…

By Michael Pettis I recently “debated” twice with senior Chinese officials on the future prospects for China. In both cases they made the argument that Chinese growth rates were going to rise in the next few years and that the current deep…

I have been an observer of financial markets, and of those who operate within the markets, for almost 30 years. I have never before experienced investors paying more attention to career risk than they do at present. A preoccupation with…

The bullish argument that houses are now generally affordable also does not hold up on closer examination. As we have repeated ad infinitum the average household has too much debt and is in the midst of deleveraging rather than taking on…

Jeremy Grantham: "The central truth of the investment business is that investment behavior is driven by career risk. In the professional investment business we are all agents, managing other peoples’ money. The prime directive, as Keynes…

This daily commentary is a bronze-level post. Barclays Capital has a US Macro Data Surprise Index and it was at all time highs in February. It has since dipped.

Faber, Buffett and Grantham were bullish as stocks reached their financial crisis nadir