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Olduvai III: Catacylsm
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Three-Card Monte, Wall Street-Style

Three-Card Monte, Wall Street-Style Their operation was in jeopardy, their ‘business model’ at risk. Their reaction was typical for the brazen barons of finance, writes Michael Brenner. Surer than Three Card Monte, from the Tricks with Cards series (N138) Duke, Sons & Co. to promote Honest Long Cut Tobacco, 1887. (Metropolitan Museum of Art/Jefferson R. […]

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There Has Been Just One Buyer Of Stocks Since The Financial Crisis

There Has Been Just One Buyer Of Stocks Since The Financial Crisis Over the weekend we showed a chart which demonstrated that the bulk of the 21st century has been characterized by equity retail fund outflows offset by a tsunami of bond inflows, i.e. a reverse “great rotation.” The chart also illustrated that periods of “big bond inflows often […]

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Weekly Commentary: Monetary Disorder 2019

Weekly Commentary: Monetary Disorder 2019 The S&P500 advanced 6.5% in 2019’s first 13 trading sessions. The DJ Transports are up 9.2% y-t-d. The broader market has outperformed. The small cap Russell 2000 sports a 9.9% gain after 13 sessions, with the S&P400 Midcap Index rising 9.3%. The Nasdaq Composite has gained 7.9% y-t-d (Nasdaq100 up […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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