Why The Stock Market Has Soared (And We'll All Soon Know What It's Like To Be A Madoff Client)
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Howard Marks: "So Much For The Experts"
Authored by Oaktree Capital's Howard Marks,
In August, I mentioned that I had chosen the title “Political Reality” for my memo in part because of my liking for oxymorons. I classed that title with other internally contradictory statements, such as “jumbo shrimp” and “common sense.” Now I’m going to discuss one more: “expert opinion.”
In Stunning Pair Of Interviews, Trump Slams NATO And EU, Threatens BMW With Tax; Prepared To "Cut Ties" With Merkel
In two separate, and quite striking, interviews with Germany's Bild (paywall) and London's Sunday Times (paywall), Donald Trump did what he failed to do in his first US press conference, and covered an extensive amount of policy and strategy, much of which however will likely please neither the pundits, nor the markets.
Matt Taibbi: "Insane Clown President Trump Was Right About The Media"
While U.S. political journalist Matt Taibbi has made no bones about his dislike of Donald Trump... (via Rolling Stone a day after the election)
Goldman Is Concerned: "The S&P Has Surged 6% Since The Election But 2017 EPS Forecasts Haven't Budged"
Goldman is starting to get concerned.