Business

Before the financial crisis and the billions of dollars in corporate bailouts, and trillions more in central bank quantitative easing, the world of investing was simpler.

Via The Ron Paul Liberty Report,

Let's start at the beginning. Bubbles and Busts are both created by The Federal Reserve.

Presidents are merely along for the ride. They like to credit themselves for the bubbles, and then look for scapegoats, usually the (non-existent) free market during the busts.

But it is The Fed that creates them both.

Below are some key highlights from Third Point's latest Q2 letter, in which we find that Dan Loeb, despite some early market turbulence and thesis drift, has again managed to do what 95% of his peers have been unable to do, outperforming the S&P YTD and returning 10.7% through June 30, up 4.6% in the second quarter.

From the Second Quarter 2017 Investor Letter:

Review and Outlook

 

Submitted by Jeff Paul

The US government likes to pretend that the rising cost of living is under control. People in Southern California know better. According to a new report in the Los Angeles Times, median house prices in Southern California have doubled in the last five years.

LA Times reports:

In many corners of Southern California, home prices have hit record highs. And they keep going up.

 

By Dana Lyons of J. Lyons Fund Management

Stocks have recently witnessed an unprecedented cluster of new highs occurring on negative volume.