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Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media
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01 декабря, 01:00

Succinct Summation of Week’s Events 11.30.18

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Succinct Summations for the week ending November 30th, 2018 Positives: 1. Home mortgage applications rose a seasonally adjusted 9.0% w/o/w, outpacing previous week’s 3.0% rise. 2. Retail inventories rose 0.9% m/o/m, higher than previous 0.1%. 3. Wholesale inventories rose 0.7% m/o/m, exceeding expected 0.4% build. 4. Same Store sales rose 7.9% w/o/w, up from previous… Read More The post Succinct Summation of Week’s Events 11.30.18 appeared first on The Big Picture.

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30 ноября, 22:00

BBRG: Fans and Foes of Buybacks Aren’t in Disagreement

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Fans and Foes of Buybacks Aren’t in Disagreement As a group, companies that repurchase shares are good investments even as individual companies squander their money. Bloomberg, November 30, 2018       So yesterday, I vented at what I find to be some pretty god-awful buybacks from companies that either have poor management, made some… Read More The post BBRG: Fans and Foes of Buybacks Aren’t in Disagreement appeared first on The Big Picture.

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30 ноября, 16:03

10 Friday AM Reads

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Our end of week, Mueller-free morning train reads: • Klarman on Hard Choices: The importance of thoughtful deliberation—and its implications for the future of capitalism (Harvard Business School) • Could California’s ocean ranches solve a global food shortage and fix the seafood trade deficit? (Washington Post) • Med Schools’ Business Model Is Officially Dead (Med Page Today) see also Statistical pitfalls of… Read More The post 10 Friday AM Reads appeared first on The Big Picture.

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30 ноября, 14:00

2020 Audi E-Tron GT

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The 2020 Audi E-Tron GT made its debut at the LA Auto Show. Audi’s first all electric sedan does not look anything like a concept car. It is heading into production in late 2020. Audi expects to offer 12 all electric models by 2025. Starting price has not been announced yet, but I am going to guess it… Read More The post 2020 Audi E-Tron GT appeared first on The Big Picture.

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29 ноября, 17:15

Bad Buybacks

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I was working on my regular Bloomberg column, taking a closer look at some companies in the news (GE, GM, Apple, etc.) — firms not coincidentally doing big buybacks. In the process of trying to put together an objective, data-driven, dispassionate discussion, I found myself continually getting first annoyed, then angry. Why? Because these are… Read More The post Bad Buybacks appeared first on The Big Picture.

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29 ноября, 15:49

10 Thursday AM Reads

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My morning train reads: • The Climate Apocalypse Is Now, and It’s Happening to You (Wired) • What Can Investors Do About Overconfidence? (Behavioural Investment) • Politicians like Trump should back General Motors for taking risks and making changes (USA Today) but see GM bought back $10 billion in stock since 2015, double what job cuts will save (CBS News)… Read More The post 10 Thursday AM Reads appeared first on The Big Picture.

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29 ноября, 02:00

How High Was Midterm Turnout?

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From FiveThirtyEight: The 2018 wave was indisputably unlike any other in recent midterm history: It came with exceptionally high turnout. Turnout is currently estimated at 116 million voters, or 49.4 percent of the voting-eligible population. Interesting . . .   Source: FiveThirtyEight The post How High Was Midterm Turnout? appeared first on The Big Picture.

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28 ноября, 17:00

Winter Reading

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10 Books for Reading on Long Nights of Winter A Paul Volcker memoir, a Michael Lewis non-fiction thriller and a Pulitzer Prize winning history of the American Sea. Bloomberg, November 26, 2018       It’s that time of year! With Thanksgiving behind us, and the long dark winter ahead, it is as good a… Read More The post Winter Reading appeared first on The Big Picture.

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28 ноября, 15:55

10 Wednesday AM Reads

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My mid-week morning train reads: • The Nifty Fifty: The bear market of 1969 absolutely wrecked small stocks (Irrelevant Investor) • Why You Would Not Have Invested With Warren Buffett (Behavioral Value Investor) • The Radicalism of Taylor Swift: Time and again, she’s stood up for labor in her industry. (Slate) • Why Don’t We Forget How to Ride a Bike? (Scientific… Read More The post 10 Wednesday AM Reads appeared first on The Big Picture.

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28 ноября, 14:00

Changes in Emerging Markets, 2000 – 2017

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From UBS via Meb: In the last two decades, the Chinese economy has overtaken the US in PPP, while India’s is now as large as Germany, France, and the UK combined. Of the world’s 20 largest economies, emerging nations now outnumber developed nations. And while the US has impressively doubled the size of its economy,… Read More The post Changes in Emerging Markets, 2000 – 2017 appeared first on The Big Picture.

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27 ноября, 20:30

MIB: How to Work Your Way Up From the Bottom

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Ralph Scamardella began at the bottom of the restaurant industry, working his way up from dishwasher to assistant to head chef. He chefed (is that a word?) at legendary rooms like Plaza Hotel’s French restaurant and at Polo under legendary chef Daniel Boulud. But his focus was on the business side of the “back of… Read More The post MIB: How to Work Your Way Up From the Bottom appeared first on The Big Picture.

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27 ноября, 17:15

Dashboard: Recession Watch

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I really like the cyclical depiction of the business cycle via this Infographic from LPL Financial Research. A long, slow recovery, like the one we had following the credit crisis, can give numerous signals as it matures. We have been experiencing that. Given the corporate profit picture, relatively low interest rates, modest inflation and strong… Read More The post Dashboard: Recession Watch appeared first on The Big Picture.