Saturday, August 28, 2010

Daily Markets - Albert Edwards: Bear Market Could Take S&P Down To 450

Daily Markets - Albert Edwards: Bear Market Could Take S&P Down To 450

Albert Edwards: Bear Market Could Take S&P Down To 450

Posted: 28 Aug 2010 12:16 AM PDT

I have not referred to my friend Albert Edwards's views for a while. Given the rather difficult juncture at which the U.S. stock market finds itself, I thought it opportune to consult with the big guy over at Société Générale in London.
In short, Albert sees that the structural bear market in equities has not yet reached bottom. "We have long said that the de-bubbling process would end only when equities became very cheap and revulsion in equities as an asset class hangs in the air like … [visit site to read more]


Picture Du Jour: How Low Can Stocks Go?

Posted: 28 Aug 2010 12:10 AM PDT

History and cycles are not perfect predictors, but it's worthwhile to pay attention to these indicators. One such chart, indicating the cyclical nature of stock markets, comes courtesy of Stifel Nicolaus (via U.S. Global Investors – Weekly Investor Alert). The graph below shows the 10-year rolling return of the S&P Stock Market Composite going back almost two centuries, indicating current performance (inside the circled area) is at low levels only seen during the Great Depression. Food … [visit site to read more]

Face To Face With Robert Shiller On Houses, Economy

Posted: 28 Aug 2010 12:06 AM PDT

Robert Shiller, Professor of Economics at Yale University, sits down with Simon Constable of WSJ to discuss the sharp falloff in home sales, the likelihood of a double-dip recession and what the Federal Reserve should do to stimulate the U.S. … [visit site to read more]

Moody’s Zandi Discusses U.S. Double-dip Recession Risk

Posted: 28 Aug 2010 12:03 AM PDT

Mark Zandi , chief economist at Moody's Analytics, talks with Bloomberg's Margaret Brennan about the outlook for the U.S. economy and possibility for another recession.
On the odds of double dipping, Zandi said: "I put it that 1 in 3 right now. If you'd ask me 4–8 weeks ago, I would have said 1 in 4, 12 weeks ago, 1 and 5. So it is rising uncomfortably high. I am assuming that tax rates on upper income households will in fact occur on January 1. If that doesn't happen, it could … [visit site to read more]

Don Coxe Webcast – Updated (August 27, 2010)

Posted: 28 Aug 2010 12:00 AM PDT

Don Coxe has updated his popular webcast on Friday, August 27, 2010 – good news for his followers. You can access the recording here or from the sidebar of the Investment Postcards site (the column on the right-hand side) by clicking on Don's … [visit site to read more]

Fed’s Hoenig: Monetary Policy Is Not Cure-all

Posted: 27 Aug 2010 11:59 PM PDT

Kansas City Federal Reserve President Thomas Hoenig sits down for a one-on-one interview with CNBC's Steve Liesman at the annual central bankers meeting in Jackson Hole, Wyo.
Mr. Hoenig recently stated: "Monetary policy is a useful tool, but it cannot solve every problem faced by the United States. In trying to use policy as a cure-all, we will repeat the cycle of severe recession and unemployment in a few short years by keeping rates too low for too … [visit site to read more]

South Africa – An Inconvenient Truth

Posted: 27 Aug 2010 11:55 PM PDT

By Cees Bruggemans, Chief Economist of FNB.
Regarding the public sector strike currently fully underway, a few inconvenient truths may perhaps have escaped the general notice.
I am being nearly daily asked about the impact of this strike. After thinking about it carefully, I would like to share with my readers the following.
The main impact for the electorate is one of disruptive inconvenience, to the point of heartache (one thinks of the terminally ill in hospitals and nail-biting … [visit site to read more]

Laugh Out Loud: Monopoly – Recession Edition

Posted: 27 Aug 2010 11:52 PM PDT
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