A really long, long time ago, well before most of today's wall street analysts made it through puberty, the entire international financial system almost collapsed courtesy of a mortgage lending bubble that allowed anyone with a pulse to finance over 100% of a home's purchase price...with pretty much no questions asked.
Authored by Irina Slav via OilPrice.com,
Two analyst firms have revised upwards their production growth forecasts for the Permian, expecting oil output there to be 300,000 bpd higher by the end of this year. The firms are none other than Wood Mackenzie, whose analysts expect 300,000 bpd more in Permian output by end-2017—a 200,000-bpd increase to its year-end forecast—and Rystad, which sees the cumulative increase for June-December at 300,000 bpd.
With Dick's stock crashing after reporting dreadful results this morning, in which both comp sales and EPS missed as the company slashed its full year guidance below even the lowest sellside forecast (it now sees full year EPS of $2.80 to $3.00, below the previous guidance of $3.65 to $3.75 and the Wall Street estimate of $3.62 ), the management team had no reason to hold back on today's earnings call, and luckily - unlike many other retailers who still hold out hope that the worst is behind them - it did not, for an unvarnished look into the retail space.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation.
How expensive are US equities versus their peers around the world? Compared to bonds? Commodities? Are there fundamental risks we can identify?
In the following presentation, Cantillon Consulting's Sean Corrigan answers all of the above and details what opportunities for better asset allocation might lie ahead...
http://player.vimeo.com/video/226011733
Howver, deep in the presentation is an intriguing little chart.