Category Archives: Markets

As was.. Asia steady overnight. Shanghi up 14 points or so. The US debt issues are not affecting sentiment in the markets. No one is pricing in any US default or even slightly hedging against such an event. US indexes got that near term weakness but rebounded into the close. Some sort of breakout rally …

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Asia overnight weak but most sub 1% falls. However, the big story was the Shanghi that collapsed over night by over 3% and making a very bearish chart now. Amazingly many industrial metal issues have not collapsed this am inc Rio, Anglo etc. I have sold down on the few copper related issues i held. …

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Eurozone-statement-on-Greece-s-2nd-bailout Kicking the can just extended the EFSF entity to providing 30 yr loans to Greece. The EFSF was intended to be a temporary ‘crisis’ entity. It has become the, effective, backdoor issuer of euro area bonds. Something the original creators of the euro fought hard to prevent.  Complete fiscal union is close at hand, …

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We have Asian markets much stronger over night bouncing on the ‘good’ news of Euro increases in money supply to both banks and greece through the effective creation of euro bonds through the EFSF. This is very good for asset markets as more loans equals more money which makes each existing unit worth less so …

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The Following chart is one we have seen a number of times no doubt. This chart is the ratio of gold to financial assets. On this chart 1.5% of total financial world assets. I personally think Gold is significantly less that this amount as this chart totally ignores paper derivative contracts and unfunded liabilities which …

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We are in this difficult area of many charts in the difficult summer period where participants ‘chopped up’. Many hedge funds remain down for the year in spite of the 5% or so higher equity indexes from the jan01 open. (Gold 10% higher than her jan open and silver 30% higher). Asia over night weak …

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“A very nice and informative website. The challenge for small investors will be to preserve capital in an environment where the government is corrupt, the media is prepared to misinform people, and where the corporate and especially the financial sector is increasingly dishonest”. Marc Faber July 20th 2011

Deputy Governor Hirohide Yamaguchi of the BOJ pledged “decisive” policy action.. Imo he is making a play here for the top job. I’m on record as saying the Governor, Masaaki Shirakawa is in the ‘departure lounge’. I believe this is the commencement of his exit. So, I wonder what decisive measures the central banker could …

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Choppy markets continue.. Soros’ quantum endowment fund now in 75% cash. Many hedge funds having a very tough time of it here and now. ”The easy money is gone’ Faber. http://www.bloomberg.com/news/2011-07-19/soros-quantum-holding-75-cash-leads-hedge-funds-baffled-by-global-crises.html “I find the current situation much more baffling and much less predictable than I did at the time of the height of the financial …

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Asia weak over night.. no great moves just continued worries on a slowing China, inflation and the US and European weakness and poor data. No panic though, yet. http://www.stocktiming.com/Shanghai_Daily_Stock_Market_Updates/shanghai-index-update-friday.htm This has all the appearances of a chart you want to short doesn’t it. The HSI is little better. The hongkong markets is liquid and carries …

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The star hedge fund manager’s q2 letter to shareholders (july 7th) covering the Euro crisis, US debt ceiling, US stocks, YEN and macro JapanGreenlight-Capital-Q2-Letter