Back in April, we reported that the Long-Short Strategy Fund of John Burbank, one of the handful of investors who made a killing from shorting subprime, and head of what was at the time the $2.4 billion Passport Capital, was shutting down after a series of negative returns: according to HSBC, the fund - which had an AUM of $636 million as of March - had lost 2.1% in the first two months of this year and was down 11.8% in 2016.
Authored by Stefan Gleason via Money Metals Exchange,
The Federal Reserve can make or break a president.
Monetary policy influences all financial markets as well as the cycles in the economy. No president wants to have to run for re-election when the stock market and economy are turning down.
As if there weren't enough geopolitical stress points in the world to fill a lifetime of "sleepy, vacationy" Augusts, late on Friday night President Trump spoke to Chinese President Xi Jinping and told him that he's preparing to order an investigation into Chinese trade practices next week, according to NBC. Politico confirms that Trump is ready to launch a new trade crackdown on China next week, citing an administration official, a step that Trump delayed two weeks ago under the guidance of his new Chief of Staff Gen. Kelly, but now appears imminent.
After scoring a major court victory on Thursday in its years-long pursuit of any and all emails sent by former Secretary of State Hillary Clinton pertaining to the Sept.11, 2012 attack in Benghazi, watchdog group Judicial Watch has announced that it’s suing the Department of Justice for failure to turn over records pertaining to former FBI James Comey’s handling of the infamous “Comey memo."
Authored by MN Gordon via EconomicPrism.com,
“Markets make opinions,” goes the old Wall Street adage. Indeed, this sounds like a nifty thing to say. But what does it really mean?
Perhaps this means that after a long period of rising stocks prices otherwise intelligent people conceive of clever explanations for why the good times will carry on. Moreover, if the market goes up for long enough, the opinions become so engrained they seek to explain why stock prices will go up forever.