With the S&P making new cycle highs, and talk of “double dips” a distant memory, we look to previous cycles to guide us as to how long this one could last. Below is a chart of the duration of all … Continued
Though it probably seemed like it would be a long time before leverage came back to the financial system, the following comment from Discover caught my eye on its most recent conference call. The company is moving from benchmarking equity … Continued
It’s tax season and Friday, so here’s my offbeat post for the day: Last year Warren Buffett wrote a controversial letter to congress claiming that he only paid $6.9m in taxes in 2010 (a 17% tax rate) and suggested that … Continued
Late last year the Fed reinitiated liquidity swaps with foreign central banks (read: Europe). If memory serves, the move was good for a 3%+ rise in the S&P 500. Now that the crisis in Europe is slowing down for the … Continued
The S&P 500 and Dow have each by now made new multi year highs. Small caps, however, have not kept pace. The Russell 2000 is still below its 2011 peak, and is underperforming again today.
The good people at Bespokeinvest.com just posted a long term chart of the S&P 500 and Nasdaq which highlighted that while the S&P is only 11% from its all time high, the Nasdaq is still more than 60% away. For historical comparison, … Continued
Even after today, the S&P 500 is still up double digits for the first quarter of 2012. This follows another double digit quarter: in 4Q11 the S&P was up 11%. Since 1957, the S&P 500 has only been up double … Continued
Along with the previous post, a chart showing total world steel consumption from 1970-2004.
BHP’s comments that iron ore demand growth from China will slow helped send the market lower today. In that context, below is China’s steel consumption relative to the rest of the world as of 2010. It may be somewhat surprising … Continued