investing

Remember the scene in A few Good Men where Colonel Jessup (Jack Nicholson) and Lieutenant Kaffee (Tom Cruise) trade insults? Following some pretty intense questioning, Kaffee yells at Jessup: “I want the truth”. With the deadly glare that…

The video below is from On the Edge with Max Keiser. I speak to Max during this show from 31 March about the US economy, Federal Reserve policy, financial repression and more. On the issue of financial repression, I think my view is pretty…

Here's the latest from Bloomberg Television, Marc Faber, the publisher of the Gloom, Boom and Doom Report, thinks that Japanese equities are going to outperform this year. Why? For the same reasons I have been saying that a more defensive…

A growing number of indicators suggest that the market is running out of steam. Equities have been in a temporary sweet spot where investors have been factoring in a self-sustaining U.S. economic recovery while also anticipating the…

Some thoughts on defined benefit and defined contribution in today's world of negative real rates plus today's links

The imminent passage of the fraud-friendly JOBS Act caused me to reflect on the fact that the worst anti-regulatory travesties in the financial sphere have had broad, bipartisan support. The Garn-St Germain Act of 1982, which deregulated…

John Hussman just came out with a note that also warns about reversion to the mean in profit margins. Here I have some comments on how these trends play out in earnings and the stock market.

Last week, I wrote a bit more on my prediction of margin compression in the US and how Apple fits in the weekly newsletter. This story in today's links from the Washington Post was really good on that with regard to Apple.

The JOBS Act is insane on many levels. It creates an extraordinarily criminogenic environment in which securities fraud will become even more out of control. One of the forms of insanity is the belief that one can “win” a regulatory…

The market lacks conviction after shrugging off the disappointing European flash PMIs last week. Even though Italian and Spanish bonds are firmer today, outperforming Germany, we detect a deterioration of conditions in Europe and are…