Submitted by Roddy Boyd via Southern Investigative Reporting Foundation,
Purchase, New York is a woodsy, suburban hamlet on the Connecticut state line that’s known as much for its residents' extraordinary wealth as it is for being the headquarters address for corporate heavyweights like MBIA, PepsiCo and MasterCard.
And just like that the "no brainer" party's over. Remember when in January 2014 Carl Icahn laid out his extensive thesis on why being long AAPL is the best investment out there? Or when a little over a year later, hoping for even more stock buybacks (even as he was decrying short term activism) he boosted his price target on AAPL to $240?
All that is now over.
Speaking during a CNBC interview, Carl Icahn admitted the ultimate "no brainer" is no longer a holding of his:
The panic-buying continues in the crude complex. Oil prices are up for the 3rd day in a row, trading up to $46 for the first time since December 4th 2015. Despite continued growth in inventories and worse than expected economic growth, it appears speculative traders in black gold just can't get enough... Of course, as we just detailed, this merely accelerates the self-defeating re-birth of shale production as cash-flow desperation trumps rationality.
June crude is back at its highest sicne Dec 4th 2015... and above its 200dma...
Three days ago, Pioneer surprised oil market watchers when it not only said that it has already produced more oil than it had initially forecast, but that once crude returns to $50, all systems are go. This is what it said in its Q1 press release:
Submitted by Lakshman Achuthan via BusinessCycle.com,