The end of September marked the 5th straight monthly loss for the S&P 500. And if today was any indication, it looks like the streak could extend into October. Before we get too negative though, this is only the 7th … Continued
Last week, Harleysville insurance agreed to be acquired by Nationwide for $60 per share, which works out to $1.6B or about 2x book value. Prior to the news, HGIC was trading at about half that level. P/C insurers have been … Continued
The beleaguered Bank of America broke the $6 barrier today as the S&P 500 sits at the all important 1120 level. BAC is now back to levels it last hit in April 09. It has about $20 in book value … Continued
On the last day of the quarter below is a list of the best and worst performing S&P 500 stocks quarter to date. The S&P is down 12.9% for the quarter with about two hours left in the trading day. … Continued
Despite the Dow being up 150 pts as I write, one segment of the market that’s not on board with the rally are consumer momentum stocks, which are down almost across the board–many significantly so: NFLX -8.7%AMZN -2.33%LULU -3.2%CMG -2.2%PCLN … Continued
Despite a 60% drop from it’s $300 high, NFLX is still trading at 30x earnings. How low can it go?
There was an article in the Journal today about hedge fund competitors of John Paulson preparing to capitalize on Paulson’s poor performance by gaming his possible liquidations. Below are the top 10 holdings of Paulson’s funds as of the end … Continued
The S&P 500 is down 5.5% YTD including today’s rally. Perhaps not too surprisingly “defensive” sectors are faring the best in the negative environment. Utilities are the strongest performers YTD followed by Consumer Staples and Healthcare. Financials have been the … Continued
Bon Voyage! Oops, wrong picture… Onward and upward!
The S&P 500 has now bounced off of 1125 four times. Is this the bounce that finally leads to a breakout?