The Blues Brothers
Global stocks have taken a bath in recent days, but there’s at least one investor “buying the dip”. News broke late on Wednesday that billionaire Bill Ackman’s investment firm had taken a large stake in that of another billionaire – Warren Buffett’s Berkshire Hathaway.
UK Sparks: Ultra Electronics Wins US Navy Contract; EN+ Earnings Slump
The US Navy awarded Ultra Electronics and its joint venture partner Sparton DeLeon Springs a contract worth up to $1.04bn to manufacture sonobuoys for at least five years. Ultra Electronics CEO Simon Pryce said the “important” contract reflects the US focus on anti-submarine warfare. A sonobuoy is a portable electronic sensor that can detect underwater sounds.
Closing Bell (August 16)
Cotton (CT) Daily MACD Positively Crossing
“EU Treat US Even Worse Than China”
New on the Frontier (Aug 19-23): Kuwaiti CPI on Tap amid Regional Volatility and Lower Oil Prices
Eliminating that Factor Home Bias
Revamping the Client Segmentation Process
Busy is not the same as effective. In our “always-on” environment, we are constantly trying to keep up with what’s in front of us at any given moment. This approach does not lend itself to long-term planning, daily stress management or reflection on the question, “Am I doing the right things to create success in my business?”
Game of Bridge or Game of Thrones between China and U.S.?
The entire German yield curve is negative. The U.S. 3-Month Treasury yield is at 2%, while the 10-Year yield currently sits close to 1.65%. Excluding U.S. debt with 20 years to maturity or more, U.S. short-term Treasuries now have the highest yield among all developed-nation debt.
Recession, Really? Not Based on Today’s Economic Data
UK Sparks: Betting Group GVC Announces £12.3m Loss After Merger Charges
GVC Holdings, the sports betting and gaming group that owns Ladbrokes Coral, made a pre-tax loss of £12.3m in the first six months of this year. The loss, which compares to a pre-tax profit of £114m in the same period of last year, came after £224m of charges, mostly for the “amortisation of acquired intangibles” relating to the integration of the Ladbrokes Coral Group.
Closing Bell (August 15)
USDCAD Weekly MACD Trying to Positively Cross
UK Sparks: FirstGroup Joint Venture Wins HS2 Rail Franchise
A joint venture of FirstGroup with Italian rail operator Trenitalia has been awarded a franchise to run Britain’s West Coast and new High Speed 2 train services. The 70%-30% joint venture will take on the franchise from December 8. In a first phase to March 2026, First Trenitalia will operate existing InterCity West Coast services while acting as a “shadow operator” for the HS2 programme.
Closing Bell (August 14)
China Data Highlights Trade War Hit
Natural Gas (NG) Daily MACD Positively Crossing
Closing Bell (August 13)
FX Rundown: August 13th, 2019
Intro to Exchange-Traded Funds
Investing In The Age Of De-Globalization
From a macro perspective, de-globalisation should therefore work like globalisation in reverse, though this is unlikely to be in a perfectly symmetrical manner. Trade-dependent economies are most vulnerable, with small to middle open economies challenged to revamp their growth models.
You Can’t Train A Great White Shark – Or Control Global Trade
In my view, the US has exhibited these two forms of overconfidence bias in its current trade situation. First, the desirability effect: In my travels, it has been clear that the vast majority of Americans I’ve spoken with believe it would be desirable to have more favorable trading conditions, which helps to explain why the Trump administration has been so focused on strong-arming other nations, especially China, into better trade agreements.
It’s a Small, Small World
Global equity markets have been experiencing heightened volatility over the last few weeks. In my opinion, there are quite a few intertwined issues at work here. First, China’s economy has a large export component, accounting for nearly 50% of all GDP. China has made the domestic economy a focus, to reduce its dependence on exports over the last decade.
A Deep Dive Into A Market Driver With Alpha Generating Potential
UK Sparks: Tui Profits Hit By Boeing 737 Max Grounding
Travel group Tui has reported a 46% fall in third-quarter underlying earnings before interest, taxation and amortisation to €101m, as the grounding of Boeing’s 737 Max aircraft cost it €144m. For the full year, the group still expects full-year underlying earnings to be 26% lower than the €1.18bn achieved in 2018, with total 737 Max costs of up to €300m. Tui says customers have booked later than normal, following last year’s European heatwave, while demand continues to be affected by Brexit uncertainty.