Promoting Useful Knowledge

  Financial markets never cease to amaze me. We’ve seen a company most of us heard of before a couple of weeks ago threatening to bring the whole system down. This comes on top of the CCP’s ability to put in new regulations like Steph Curry knocking down three pointers. I shared an article below about how China’s ban on crypto is different this time. I’m not exactly sure it is. The CCP had plans to dominate the world, but I’m not sure this is how they thought it would go. I thought of today’s title when I saw the strength of equity and crypto markets this week. All the news pointed to another lower week, but they seemed to fight it off and end the week higher. It’s also the title of a song in my pre-race routine. Here are some of the lyrics. I think it describes the crypto community quite well. Not sure if that ends good or bad. Time out, let's get something clear I speak more truth than you want to hear Scapegoat to cover up your fear, you can't bring me... You ain't never...

  Most equity markets had a down week. This was the second red week in a row, which has only happened two times in the last year. The last time we saw three consecutive down weeks for US markets was a year ago this week. There was a lot of red out there globally too. Hong Kong and China were some of the worst performing. China, and in turn Hong Kong, was down again on regulatory worries out of Macau. Another big story last week was the developments with China Evergrande Group’s credit issues. Below, I share a couple of links that cover this, plus a few screenshots from Refinitiv’s Eikon desktop product. Another thing I’ve been noticing more and more with the equity markets, the wall of worry is getting steeper and steeper. This week something like half a dozen tier one banks have made calls for a selloff. We also see below in the BofA Fund Manager survey that a lot of managers are not expecting a stronger economy. This has led to some pretty expensive downside protection for the ma...

  Summer is over. Well not officially, but the masses are ready to get back to a little more normalcy. The Delta variant is still causing some issues with those plans, but we're starting to see people move about more. Let's hope the trend continues and we're able to keep the virus at bay.  In this week’s post, things will be a little different than before. I’ll be sharing some of the best of the past week, but also some of the best things from my summer “break.” A few of them are not finance specific. As the summer came to an unofficial end in the States, I wanted to take a look at how the summer looked from a performance and volume perspective. For the most part the ‘Sell in May’ mantra was not a good idea. US Tech, via the NASDAQ 100, was the strongest of the major global indices I looked at, up by about 12% since the beginning of May. The numbers were higher until this week's selloff. Brazil’s Bovespa was the strongest for some time, but has been in selloff mode sinc...