Michael Novogratz, principal at Fortress Investment Group LLC, talks about the global economic and market outlook and investment strategy. He speaks with Erik Schatzker from the Skybridge Alternatives Conference in Las Vegas on Bloomberg Television’s “Market Makers.” (Source: Bloomberg) 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
Read More »
A little more than two years ago, I wrote Goes Down Double-Speed. I wrote it after the market had doubled from its lows two years earlier. I want to update the piece and explain we have learned over the past 2+ years, and maybe discuss what could happen over the next 2+ years. Anyway, here is the modified table of bull and bear markets: Since the last piece, the gains have come slowly, validating my...
Read More »
Count Goldman Sachs as one of the S&P 500 bulls. Although not exactly at the level of Jeremy Siegel, analysts from Goldman are out with a new report which predicts the S&P 500 to hit 2100 in 2015. They expect a rapid increase in dividends to keep the yield on the S&P 500 at around 2% and for earnings to grow to $124 per share by 2015. Below is the full report from Goldman...
Read More »
PIMCO’s Bill Gross brought a smile face mug on Bloomberg TV‘s “Market Makers” today to illustrate to Erik Schatzker and Sara Eisen how happy he is. Bill Gross said the end of the 30 year US bond rally is unlikely to be like 1994 and he sees 12-months of treasury, corporate and high yields that don’t move much. Bill Gross also said: “We see bubbles everywhere, and that is not to be dramatic and...
Read More »
Marathon Asset Management has filed its 13F for the first quarter of 2013 with the SEC. The full filing can be found on the SEC website at this link. The firm’s long equity holdings were scuttled in the period, with their total market value declining from $3,356,022,526 at the end of 2012 to $1,623,780,420 at the end of 2013′s March. Marathon Asset Management’s Long Equity Holdings Drop Most of the big drop in the...
Read More »
By: greenbackd David Tepper was on CNBC this morning arguing that stocks are historically cheap: said the post showed “when the equity risk premium is high historically, you get better returns after that.” He continued, “So we’re at one of the highest all-time risk premiums in history.” In making his argument Tepper referred to this article, Are Stocks Cheap? A Review of the Evidence, in which Fernando Duarte and Carlo Rosa argue that stocks are cheap...
Read More »
Jamie Dimon has been in the news lately due to a seeming obsession over whether he will remain both the CEO and Chairman of JPMorgan Chase & Co. We have posted some exclusive coverage on that topic over the past few weeks. Nomura met with Jamie Dimon and discusses both JPMorgan performance as well as the corporate governance issue. Nomura has a nice chart (which we inserted below) on several large financial companies where...
Read More »
BAML is out with their latest hedge fund monitor. Last week they noted that hedge fund leverage had reached a level not seen since 2007 (the data was confirmed by a report from analysts at SocGen). This week they note that funds are reducing their exposure to equities but positions still remain at high levels. Hedge funds reduced their long S&P 500 positioning by ~21%; from $22.4bn to $17.8bn. Positioning remains in a crowded long after...
Read More »
Goldman Sachs is out with a new report on S&P 500 foreign revenue based on 10K filings for the first quarter of 2013 and 2012. Foreign revenue increase has helped firms boost their top line overall in 2012. The biggest winner according to the report …. energy based companies. A brief summary followed by the full report below: S&P 500 Foreign Revenue Uncertain growth in Asia and Europe combined with FX concerns have supported...
Read More »
Today’s market saw the three major indices lose a small amount of ground after weeks of strong trading. The S&P 500 finished down 0.37 percent to 1,626.67, Nasdaq fell 0.12 percent to 3,409.17, and the Dow Jones fell 0.15 percent to 15,082.62. Many of the big movers on the market were positive however, and some of the most interesting stocks were Tesla Motors Inc (NASDAQ:TSLA), News Corp (NASDAQ:NWSA), Barnes & Noble, Inc. (NYSE:BKS), JPMorgan...
Read More »
Just yesterday we posted how of all BofA clients only hedge funds have been raking up their stakes in US equities, the trend seems ubiquitous. Societe Generale’s Hedge Fund Watch concludes the same, net long exposure in S&P 500 (INDEXSP:.INX) has been edging closer to an all-time high. Hedge funds added up to their longs against the backdrop of weak economic data in US, SocGen expects a major sell off in the second half...
Read More »
