With officials calling Saudi deputy crown prince bin Salman's $2 trillion estimate of Saudi Aramco valuation as "unrealistic and mind blowing," OilPrice.com's Cyril Widdershoven notes the primary discussion taking place is the overall level of transparency offered by Aramco’s leadership, which is supported by the Saudi government.
What may be the most controversial annual shareholder meeting in Wells Fargo history, in which the board is seeking re-election after last year's misselling scandal, devolved into a screaming match on Tuesday morning and was briefly halted following interruptions by angry shareholders as the bank's chairman and chief executive tried to calm nerves ahead of a vote that could oust the majority of its board.
This is too easy. Forget NFLX Calls. As Goldman explains, the road to real riches over the past 8 years (off the '666' lows in the S&P) is simple - Sell Vol!
The S&P 500 VIX Short-Term Futures Daily Inverse Index which tracks the return of being short a one-month VIX future was up 4364% from March 9, 2009 through 1Q 2017.
Confirming the strong housing data reported earlier by Case-Shiller which showed the fastest pace of home price appreciation since 2014, moments ago the Census reported that New Home Sales rose 5.8% in March to an annual pace of 621K units, just shy of the highest print going back to January 2008, and solidly beating expectations of a 585K print.
Unlike existing home sales, new home sales are benefiting from an increase in the supply of homes for sale. New home inventories increased 1.1% in March.
The Looting Machine Called Capitalism
Paul Craig Roberts
I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.