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Tag Archives: SVEN HENRICH
Game Over
Game Over Game over. Occam’s Razor: The simplest explanation is often the best one. Central banks will never extract themselves. Whether they ultimately end QE is besides the point. They won’t reduce their balance sheets. They can’t. Powell’s “performance” yesterday was not an accident. He’s been running on the same theme of offering absolutely zero […]
The Secret
The Secret The secret is out. It can no longer be denied and it’s up to each and everyone of us to help bring the secret to the forefront of public awareness. For the mainstream financial media won’t do it, indeed they allow the guardians of the secret to continue to deny its existence. For […]
Instability
Instability In every century the same thing happens at one point or another. Society loses the plot and gets caught up in a mania, a grandiose exercise in self delusion. It can be political, it can be religious, and yes it can be economic. Sometimes these manias are confined to regions or small groups of […]
To The Breaking Point
To The Breaking Point If you thought fundamentals, valuations and earnings growth matter the joke is on you. In 2020 central banks have managed to do the unthinkable: Not only once again save investors from any damage in markets, but they intervened to such a degree that negative earnings growth is now the stuff of […]
Unspoken Truth
Unspoken Truth We all know it yet the unspoken truth deserves to be said out aloud. You all heard the phrases ‘Don’t fight the Fed’, and ‘ there is no alternative’. Can we be clear what these phrases really mean? They mean people are buying assets at prices they otherwise wouldn’t because a central planning committee is […]
Super Bull
Super Bull You know where I stand: Markets have been bloated to high heaven via unlimited and unprecedented liquidity injections creating the illusion of a bull market when there is none. Yes indices such as $SPX and $NDX show incredible strength driven by a few single stocks, but as we discussed the rest of the […]
Crash #2?
Crash #2? President Trump is mocking Warren Buffett for having sold his airline stocks, Druckenmiller crying on TV about having been humbled by the market while every Robinhood retail trader piling into ever more into calls is laughing all the way to the bank. The professionals gobsmacked at the complete upside down events in markets […]
Straight Talk
Straight Talk We live through very unique times, not only because of the shock of the coronavirus that recently hit the world unexpectedly, but also because of large complex structural issues that have been building for decades. A popular mantra says the stock market is not the economy and the economy is not the stock […]
Takeover
Takeover We can’t print ourselves out of this crisis again, but that isn’t stopping the Federal Reserve from trying. Thursday’s intervention program, the latest in a string of panic moves to keep the financial system afloat, constitutes a complete takeover attempt of the market ecosphere, only the buying of stocks directly is last missing piece […]
Nobody Knows Anything
Nobody Knows Anything The more I read and observe the clearer the message: Nobody knows anything. And by that I mean nobody truly knows how any of this will turn out and I think this point needs to be driven home more clearly. Tons of projections of this, that and the other. Just stop. I happen […]
Answers
Answers The year is 2020. A new virus is spreading across the planet like a wildfire. More lethal than the flu, highly contagious with no cure. Stocks markets collapse, global economies are shutting down with billions of people quarantined to their homes and millions losing their jobs overnight. What do you do? What DO you […]
2020 Crash
2020 Crash Complacency came before the fall. All of 2019 market participants ignored the non existent earnings growth. Too strong was the now pavlovian reflex to chase easy central bank money. Too trusting in central banks to again produce a reflation scenario that would make all the troubles go away. Everything was ignored and markets […]
The Turn?
The Turn? Did markets just hit a key wall and are ready for a much overdue turn? That’s the question we want to explore from a technical perspective following the sudden reversal action on Thursday and Friday as action at a key technical juncture may suggest a shift in character. Let me make perhaps a […]
1937
1937 We’ve talked about the year 2000 comparison (Party like it’s 1999). In 2020 markets went onto a similar structural tear just having rammed relentlessly higher. In 2000 markets famously topped in March following the Fed’s Y2K inspired liquidity injections in 1999 as markets had vastly disconnected from fundamental reality. Now that the truth is out we […]
