Taipan Daily: Wall Street's Wall of Death by Erin Beale, Group Publisher, Taipan Publishing Group
The market wrapped up a green week with news that the GDP slowed just 1% in the second quarter, giving hope with better-than-expected numbers that the recession is finally drawing to a close.
But our resident skeptic Adam Lass still openly wonders if numbers like these really tell the whole story. Despite the sharp rise in the Dow this week, one might worry that corporate profits aren’t climbing at an adequate rate to support the rise in share prices. Adam points out that down in the very fine print corporate profits have been falling and will continue to fall like cartoon anvils. Read his views – along with one of our most controversial Taipan Daily pieces yet – below…
Wall Street’s Wall of Death
For the past few weeks, we have heard endless examples of lagging corporate profits and failing economic numbers spun as “better-than-expected” buying signals.
Sometimes the stories are completely contradictory – like when the Fed claims one day that it has to pump out more cash so we can start adding jobs, and the next says not to worry about all that excess cash crashing the dollar, because the lack of new jobs for the foreseeable future will keep inflation under control.
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The Seven Myths You Need to Know the Truth About
As Washington continues to tussle over healthcare reform, hard questions are flying not only on the Hill but on Main Street as well. Are healthcare costs really soaring? Those who cast a skeptical eye on healthcare reform are constantly beaten over the head with the Canadian success story… but is Canada really the healthcare promised land?
Justice explores recent bold claims made by Cliff Asness, the founder of a multibillion-dollar quantitative strategy hedge fund, regarding the healthcare “myths” that are largely taken for truth in the modern healthcare debate. Read them – and weigh in with your own opinion – right here…
The Big Ugly Precedent They Want Us to Forget About
Do you remember Continental Illinois National Bank and Trust Company, the top-10 bank that became a cropper in the early ‘80s? People recall the failure of Conti as just that – a “failure” – but the thing is, it wasn’t a failure. Conti didn’t actually go belly up. It got bailed out.
If the Conti story sounds familiar, it’s because we’re in the process of reliving it on an epically bigger scale. Here, Justice draws parallels between the Conti “failure” and our modern banking system collapse. Read more about why we’re still living out the effects of the past 25-year cycle, and why the Fed and Treasury’s trusty martingale system – placing bigger and bigger bets, doubling down until all comes good – is on the edge of breakdown…
A Quick Double-Digit Return in an Uncertain Market
When any one of the host of economic reports we’re used to turning to – Durable Goods reports, Consumer Confidence surveys, Housing Price indexes – hits the news wires, the market tends to react to the first few words pretty darn quickly. So if Consumer Confidence is down, we ought to sell Wal-Mart, right? And then the initial flurry of activity comes and goes, and some other headline grabs the herd’s attention, and off we go in another direction.
Problem is, most of these reports were never intended to be read by regular folks. Beyond the headlines, they are composed of far more grungy little details than most investors have time to mess with. According to Adam, the headlines these reports generate are confusing the market to no end, and creating a false rally. He explains his theory here, and also shows you an easy way to profit amidst the cloudy forecast…
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Justice has developed quite a knack for touching raw nerves in Taipan Daily… and this week he outdid himself again. Readers weigh in on Justice’s exposé of Cliff Asness’ healthcare myths, and boy were the responses passionate.
If anything, those who agreed with Cliff Asness would say the free market system, messed up as it is, is more humane in the long run, not less. Unfulfilled promises do no one any good at all, and the hidden failures (or not-so-hidden failures) of the world’s socialized healthcare systems are the skeptics’ main reason for concern. Read more and join the debate right here…
Global Markets Tempt Investors… Should You Buy?
Three markets have been making news recently… One you should buy, one you should sell, and one former star that’s headed for “Red Dwarf” status.
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