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A Conversation with Andrew Horowitz of The Disciplined Investor

It has been just over a year since the last conversation with Andrew Horowitz and his weekly podcast, so we just had our return engagement at the end of last week (right before the big Friday drop).   Most of the focus was on the market that just won't quit, the constant rotation, the lack of correction, the divergences that have yet to matter and the like.   Feel free to…

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tuesdaystie

Tuesdays with Benjamin

This chart sums it up – the market has been all about Tuesdays since mid January.  Flat otherwise.   What is peculiar is that while some of us were talking about this pattern 6-7 weeks ago, it has in the last few weeks become obvious to everyone – yet still continues.  That's not how it used to work…once something becomes obvious on Wall Street it traditionally fails quite quickly….

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detour

SPX Reaching Historical Extremes on Weekly/Monthly Chart

We are starting to see some very extreme readings on our monthly and weekly index charts since there has been no correction this year.  I posted below first the monthly chart of the S&P 500 going back 15 years showing bollinger bands – rarely do we get above the upper monthly one, and never have we been this far above during this time frame.  Then below that I posted…

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Paladinfunds290

Launch of Paladin Long Short Fund (PALFX)

Hanna Capital is proud to announce the launch of its flagship fund, the Paladin Long Short Fund (PALFX).  Available through a variety of brokers as well as direct purchase, this no-load fund seeks capital appreciation.  See the fund's prospectus here. Distributor: Capital Investment Group, Inc., Member FINRA/SIPC , 17 Glenwood Ave, Raleigh, NC 27603, (800) 773-3863.  There is no affiliation between Hanna Capital LLC, including its principals, and Capital Investment Group, Inc….

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Mar13

No Real Change from the Fed; All Eyes to April

As expected not much has changed in this month's statement – the Fed says any inflation you say see is going to go away soon enough (so no worries).  Europe improved a bit, housing remains in 'depression', etc etc.   One dissent.  Expectations seem to be building for Operation Twist to be replaced by "sterilized QE" – announced either in April or June. …

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Mar13

[Video] Goldman Sachs' David Kostin Unusually Bearish for a Wall Street Analyst

Interesting interview here with Goldman's Chief US Equity Strategist David Kostin – despite a market that refuses to relent he has quite a bearish bent on both the economy and the markets, calling for a year end target of ….S&P 1250.   This really stands out as most Wall Street strategists tend to bend to the rose colored glasses side.

He cites 3 main trends, the first two more economic focused but the last pointing to earnings which I think will be the key.  Earnings growth has slowed substantially and 2012 forecasts are extremely back end loaded, meaning to reach growth estimates there is going to have to be a big reacceleration in latter 2012.  This during a time of political uncertainty and more important policy uncertainty as massive U.S. tax breaks come back into focus.  Analysts who are bottom lining estimates must be counting on a Chinese economy that returns to burning and Europe coming out of "flat to recession"….  …

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Mar13

Looking to Gap to Yearly Highs

The nearly non stop run of 2012 looks to continue this morning.  Yesterday's volume was the lowest for a non holiday week in years according to Bloomberg, but in the end all that matters is price.  V shaped low volume rallies have now become the norm rather than the exception post 2008.   I don't see a particular reason for the gap up, but I suppose we don't really need reasons.   …

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Mar12

A Chat with Andrew Horowitz

It's been about 2 years since I last had a sit down chat with Andrew Horowitz of The Disciplined Investor blog.  We spoke late Friday about the markets, the economy, the "Fed/global central banker put", and trying to invest in a world where moral hazard is now the status quo rather than the exception.  Feel free to listen in (audio link is about 2/3rds down the page), but be warned we both speak at 1.33x the rate of a normal person so you might need to slow down the output of your computer speakers.

For those on iTunes you can go here.

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Mar12

Bloomberg Looks at Monster Beverage (MNST) as a Takeover Candidate

I can't think of a bigger impact product in the past decade in the beverage industry outside of of "Energy drinks".  While there are multiple brands in this category, certainly the one of the 2 most ubiquitous is Monster Energy, which for many is like Xerox or Kleenex – a brand that defines a product. (Red Bull being the other)  Bloomberg takes a look at the company, and it's potential as a takeover candidate, despite a huge run in the stock the past few years. …

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