Salient to Investors: Senator John McCain said JPMorgan’s chief investment office increased risk by mislabeling the synthetic portfolio as a risk-reducing hedge when it was really involved in proprietary trading. Subcommittee Chairman Carl Levin said they found a trading operation that piled on risk, ignored limits on risk taking, hid
READ MORE... →Salient to Investors: Jim O’Neill at Goldman Sachs Asset Mgmt sees 1575 on the S&P 500 in 2013 but to go above 1600 would require US economic growth to rise to ridiculously strong levels of 4 percent or more. O’Neill sees a trading range for the S&P 500 of 1,500 to
READ MORE... →Salient to Investors: Michael Montgomery at IHS Global Insight said current work weeks are very, very, very long on a historical basis, and a cause of job growth in manufacturing, which with housing and other industries starting to join autos in supporting manufacturing, makes the job gains more sustainable. Transportation
READ MORE... →Salient to Investors: Ryan Larson at RBC Global Asset Mgmt (US) said the rally could end given few catalysts around but any pullback should be short-term provided central bank accommodation remains. The Dow recouped all its losses from the financial crisis in less than 65 months, more than a year faster than
READ MORE... →Salient to Investors: In 2012, Norway’s sovereign wealth fund, the world’s largest: near doubled investments in Australian bonds and equities increased sovereign debt fourfold and added provincial debt securities increased investments in emerging markets including Turkey, Russia and Taiwan lowered debt holdings of U.K. and France. Read the full article at http://www.bloomberg.com/news/2013-03-13/norway-fund-boosts-aussie-debt-holdings-four-times-adds-states.html Free email alerts
READ MORE... →Salient to Investors: Jeffrey Kleintop at LPL Financial said: One year or more of gains lie ahead for US stocks if history is any guide. This bull market is the 7th to last at least four years since World War II, 4 of which ran for 5 years or more,
READ MORE... →Salient to Investors: Jeremy Grantham at Grantham Mayo Van Otterloo says: The US is muddling through reasonably well in the short-term, but long-term we are in a slowdown unappreciated by most economists – because they are not interested in the long-term. US growth won’t ever return to previous levels because
READ MORE... →Salient to Investors: Brian Jones at Societe Generale said many things are going the right way – more people working means more people spending, which to some extent neutralizes higher taxes. Dean Maki at Barclays expects GDP will rise at a 2 percent annual average pace in half2 from a 1.5 percent rate in half1
READ MORE... →Salient to Investors: Larry Trefz writes: The rally will continue until sentiment turns for the worse, then expect a correction of over 10%. Warren Buffett sees says stocks are good value and cheaper than other forms of investment, while the dumbest investment is long-term government bonds. Stan Druckenmiller sees a
READ MORE... →Salient to Investors: Markos Kaminis at Wall Street Greek writes: Unemployment data excludes people who have fallen out of the labor force, and not by choice. The unemployment rate is 11.8%, not the 7.7% rate just reported for February. Underemployment is closer to 18.0% than the government’s U-6 figure of
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