 |
Noted short seller and hedge fund manager Bill Fleckenstein was interviewed on Bloomberg TV a couple of days ago. He touched on the topics of JP Morgan and financials in general, along with his view of the European dilemma.
Fleckenstein had been quoted as saying he wouldn’t buy JP Morgan if a gun was put to his head before the recent trading losses were exposed.
{ 0 comments }
In the latest issue of Forbes Magazine, Ken Fisher, money manager and author of several books including Markets Never Forget (But People Do): How Your Memory Is Costing You Money-and Why This Time Isn’t Different
Fisher touts four other books including Lefèvre’s Reminiscences of a Stock Operator, Benjamin Graham and David Dodd’s Security Analysis, Roger Babson’s pre-1929 Business Barometers for Anticipating Conditions and, Modern Book Collecting by Robert Wilson.
{ 1 comment }
Energy stocks (oil, coal, natural gas) have been remarkably weak lately. Chesapeake Energy (CHK), the large natural gas producer, recently hit its lowest price in over 3 years.
Wilbur Ross, “private equity legend and master of the turnaround,” was on CNBC’s Fast Money yesterday. Ross commented on the turnaround potential of natural gas.
{ 0 comments }
Market technician Charles Nenner of the Charles Nenner Research Center in Amsterdam was recently interviewed by Jim Puplava. Nenner said his downside target for the S&P 500 was 1325. If it breaks that level he said we would be in for a longer period of correction, but he thought it would hold with the market remaining in a trading range.
Nenner also said if the NASDAQ 100 doesn’t break 2600 he believes the the major market indices will reach new highs. However, over the longer term Nenner predicts the stock market will break down to much lower ground.
Nenner also commented on the gold and silver markets with some disturbing predictions for the metals bulls.
{ 1 comment }
Apple has been the producer of some of the most popular products of the past 10 years. From iPods to iPhones, Apple has become iT. Throughout history fads have captured the minds of the public; especially impressionable youthful consumers.
I recall nearly every kid in my high school wearing puka shell necklaces at one point in time. I thought the whole thing with the shells was kind of silly so I never joined the puka frenzy. Puka shells adorned the necks of 95% of the high school lemmings for about two weeks then they were completely gone – poof. You couldn’t find a single person wearing them.
{ 0 comments }
Canadian hedge fund manager Eric Sprott ($9 billion assets under management) was on CNBC’s Halftime Report yesterday. The interview was conducted at the SkyBridge Alternatives (SALT) conference in Las Vegas (two videos included below).
Sprott said we had an overlevered banking system going back to the NASDAQ crash. The Lehman event exposed the overleveraged system. Lehman’s liquidation created nothing but chaos. Subsequently the powers that be (ECB, Fed, Bank of Japan) made every attempt to not let things unravel, according to Sprott.
{ 1 comment }
