Authored by Simon Black via SovereignMan.com,
One of the greatest investors in the world is getting worried…
Howard Marks is the billionaire founder of Oaktree Capital, one of the largest and most successful investment firms in the world.
A few times each year Marks write up his thoughts about financial markets– he calls them ‘investment memos’.
And he just released his latest one with a very clear message: it’s time to be cautious.
From Marks’ memo…
When we reported yesterday about Putin's surprisingly harsh response to last week's House legislation to launch new sanctions against Russia, which also binds Trump from unilaterally removing sanctions without getting Congressional approval, we concluded that "now we await the US re-retaliation in what is once again the same tit-for-tat escalation that marked the latter years of the Obama regime, as the US Military Industrial Complex breathes out a sigh of relief that for all the posturing by Trump, things between Russia and the US are back on autopilot."
As many traders quietly leave for summer break soaking up even more liquidity as they go, a busy US calendar unfolds in the week ahead, with ISM, PCE price data and, of course, payrolls in the spotlight.
Key Events, courtesy of RanSquawk
By Bill Blain of Mint Partners
Politics - More Destabilizing Than You Think!
“With comedy we can search for the profound...”
Dark skies, torrential rain and thinking about putting the log-burner on.. Welcome to high-summer in England. Markets are thin and the crowds trying to clamber on the train were noticeably lighter this morning. (Actually, the sun was shining this morning as my train sat listlessly somewhere “Sarf” of Wimbledon..)
Authored by Paul Craig Roberts,
The Congress of the United States by almost unanimous votes in both House and Senate has made it clear that Congress would rather destroy the President of the United States and to increase the risk of nuclear war than to avoid conflict with Russia by normalizing relations.