Blog
Politics Without Precedent
At ANG Traders, we normally try to keep the political content to a minimum, but we have reached a point where we no-longer can restrain ourselves. We must say that the American education system....
A Check-Up on the Fundamental Roots of the Market
This week we want to revisit the stock market’s fundamental footing to see if there has been any improvement. We start with the price-to-earnings ratio (PE). As the chart below shows, PE....
Oct. 17, 2016, Weekly Summary: Weather Report
Weather ReportWeather reports are probability statements about the future based on the historical patterns of various indicators such as air pressure, the position of the jet-stream, and water and....
This Time, It’s Not ‘Irrational Exuberance’
It is not ‘irrational exuberance’ that is fueling this particular bubble, it is more along the lines of resignation; participants are resigned to the fact that equities and bonds are the only....
Doing business in India is almost impossible without without the use of “black money”.
Doing business in India is almost impossible without without the use of “black money”. This is the heaviest anchor that business has to drag around and what keeps capital away from India.The most....
What Has the FED Done Since the Great Recession?
First, it needs to be understood that, officially, the FED has a dual mandate: reduce unemployment, and control inflation. The former seems to have been accomplished — even if the data is....
Equities Are Going Down, Or Is That Up?
The U.S. Federal Reserve Bank (FED) and the Bank of Japan (JOB), made dual announcements about their respective monetary policies within hours of each other, to what seemed to be the breathless....
Weekly Summary:Question Not Answered
Question Not Yet AnsweredThis week, the market ‘yo-yoed’ its way to a slight (1%) recovery from last Friday’s close. The question we asked last week, ”Is This The Inflection Point?” , is still not....
The fact that these IYIs do not have skin in the game is necessary in order for those who DO have…
The fact that these IYIs do not have skin in the game is necessary in order for those who DO have skin in the game to enact the laws, which they have written to suit themselves exclusively.If the....
A Rich Perspective
The short-sited (we would say, narcissistic) machinations of the world’s uber-rich, who have been designing the global rules of finance exclusively for their own benefit, are approaching a....
Is This The Inflection Point?
For months now, we have been pointing out that stocks, bonds, and gold were trading off-the-curve and unsupported by the fundamentals. We also pointed out that there is no way of predicting when....
Partying Like It’s 1999
In our recent SA article, we pointed out that the gold market today has a number of similarities to that of 1998–2001. Here, we present the argument that today’s stock market also has some....
Sept. 4, 2016, Weekly Summary: Rates Maintain Their Upward Bias
Rates Maintain Their Upward Bias
The employment numbers for August came out this Friday and they were lower than had been anticipated:
Nonfarm payrolls increased by 151,000 (consensus 180,000).....
Aug. 27, 2016, Weekly Summary: The FED Effect
The FED Effect
As we stated last week…” This bubble has been created and sustained by the FED’s actions, and it will be the FED’s actions that kill it.” As such, it is no surprise that Janet....
Aug. 20, 2016, Weekly Summary: Inflation, Deflation, and Earnings Yield
Inflation, Deflation, and Earnings Yield
The the Pring Deflation Index tracks sectors that benefit from deflation, such as banks, insurers, and utilities, while the Pring Inflation Index tracks....
Aug. 13, 2016, Weekly Summary: Sitting on a Hedge is More Comfortable Than it Sounds
Sitting on a Hedge is More comfortable Than it Sounds
All summer we have been pointing out how disconnected from the real economy the market is. This position arises from a number of metrics:....
The Equity Casino Has Disassociated From Reality: More Evidence of Psychosis in the Stock Market
Psy-cho-sis: when thoughts and emotions disconnect from external reality.In our recent Seeking Alpha article Beanie Baby and Other Bubbles , we argued that the stock and bond markets were....
July 30, 2016, Weekly Summary; Bad News is Good News
Bad News is Good News in Our Upside-Down World
GDP growth was forecast-ed to be 2.6% year-over-year in the second quarter, instead it came in at 1.2% and Q1 was revised down to 0.8%. That is a....
July 23, 2016, Weekly Summary: Beanie Babies and Tulips
A bubble occurs when the valuation of an asset disconnects from fundamental metrics. The Beanie Baby bubble (mid-1990’s) is an extreme example of this; there was no fundamental justification for....
The concentration of wealth that started with the bullshit ‘tickle-down’ economics that Reagan…
The concentration of wealth that started with the bullshit ‘tickle-down’ economics that Reagan/Thatcher set in motion with the ‘Big Bang’ of financial deregulation, has created the disparity....
The concentration of wealth that started with the bullshit ‘tickle-down’ economics that Reagan…
The concentration of wealth that started with the bullshit ‘tickle-down’ economics that Reagan/Thatcher set in motion with the ‘Big Bang’ of financial deregulation, has created the disparity....
Humanity has advanced because of technology and cooperation.
Humanity has advanced because of technology and cooperation. Biologically, however, we are not much different than our ancestors 50k-years ago. At that time, we were organized into tribes of 50 to....
Beanie Babies and Tulips
Beanie Babies and TulipsA bubble occurs when the valuation of an asset disconnects from fundamental metrics. The Beanie Baby bubble (mid-1990’s) is an extreme example of this; there was no....
July 16, 2016, Weekly Summary: A Tail of Two Bubbles
A Tail of Two Bubbles
Last week, we outlined some of the fundamental reasons for concern about stock valuations, and even though there are many more economic reasons to be worried, we will present....
July 9, 2016, Weekly Summary: Is There Fundamental Support for Equities?
Is There Fundamental Support for Equities?
First, we are going to look under the hood of the economy to see if the rally in equities has a fundamental underpinning; starting with the velocity....