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China Central Bank Advisor: “Bitcoin As A Currency Could Collapse Entire Economies”
An advisor to China’s central bank, Sheng Songcheng, said that virtual currencies like bitcoin are assets but do not have the fundamental attributes needed to be a currency that could meet modern economic development needs. Speaking in an interview with financial magazine Yicai, the PBOC advisors said that the adoption of Bitcoin as a national currency by a country “could lead to its economic collapse.” Sheng Songcheng, a counselor at the PBoC, dismissed digital currencies like bitcoin as assets that lack the value basis of a legitimate currency. “Bitcoin does not have the fundamental attributes needed to be a currenc... -
Finance 0
Hedge Funds Now Most Net Short 2Y Since 2007
Yeah so, this is worth noting as you ride off into the weekend sunset. The latest CFTC data out this afternoon and current through Tuesday as usual shows that specs are now the most net short the 2Y since 2007. As Bloomberg writes, “a total $4.8m/DV01 was cut in 2Y futures by specs [while] net positioning in 10Y futs remains near YTD highs.” So flattening it is. Or at least flattening they think it will be. ... -
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Housing Stands Tall In 2017: ETFs In Focus
The U.S. homebuilding industry is in good shape, and still one of the pillars on which the economy rests. The 2017 outlook for homebuilding is quite compelling given historically low mortgage rates, impressive first-quarter 2017 existing home sale data and a tight inventory. Consistent job growth, healthy demand-supply balance and seemingly high homebuilders’ confidence are adding to the momentum. What Numbers Have to Say According to recently released existing home sales data by the National Association of Realtors, existing home sales increased 1.1% to a seasonally adjusted rate of 5.62 million units in May. Sales were 2.7% higher than th... -
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Thomson Reuters: Paying Higher Dividends For 24 Consecutive Years
Thomson Reuters (TRI) has raised its dividend for 24 straight years and is arguably one of the safest sources of income in the market for investors living on dividends in retirement. The company’s business benefits from selling mission-critical solutions and generates significant amounts of recurring revenue (86% of sales), which results in very predictable cash flow and a high Dividend Safety Score. Thomson Reuters has also been improving its earnings profile through various transformational strategies and expects its adjusted EPS to grow at a double-digit rate this year. Let’s take a closer look at this reliable dividend growth stock... -
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The Hidden State Of Money
Correctly interpreting the bond market is more than just how and when to invest your money in UST’s. Not that it isn’t useful in such a money management capacity, but interest rates starting at the risk-free tell us a lot about what is wholly unseen. There is simply no way to directly observe inside an economy what is taking place at all levels and in all transactions. We try to estimate as best we can in the aggregate, but the real economy works itself out far over the horizon. The closest we might get to a more accurate description is provided by market prices. Though incomplete by themselves, they are derived of the same dispersed know... -
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Why You Need To Know About “Pro Forma” Versus GAAP Earnings
I’m a forensic accountant, so I love earnings season. Four times a year, companies release their financial and operating numbers to the public. It can be chaotic, even though you could all but set your watch to it. It’s a regular market mover. When you hear about companies that meet, beat, fell short of failing, or, yes, cheated “expectations,” it’s all about the quarterlies. For people like me who dig through the numbers, earnings season is crucial. We’re on the brink of the next big data release, so dive into some of the numbers with me. Recent reports from CNBC, USA Today, and other news outlets suggest that the coming earn... -
Finance 0
Blue Apron ($APRN) Post-IPO Buy The Dip Or Run Far Far Away?
Blue Apron is a company that sends boxes of uncooked food to your home. When you open the parcel, you find neatly packaged items with easy recipes for turning them into nutritious/delicious meals. Individual and family plans are available, with options for vegans, pescatarians, and other diet tribes. The company made its IPO last month, with shares going for $10 a pop. Since then the price has sunk down to below $8, after a brief rise to $11. The question is, should investors take the opportunity to buy the dip or give APRN a wide berth? To form an educated opinion, we’ve got to get a better understanding of Blue Apron’s competition, as... -
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The Big Four Economic Indicators: June Nonfarm Employment
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process. They are: Nonfarm Employment Industrial Production Real Retail Sales Real Personal Income (excluding Transfer Receipts) The Latest Indicator Data As the adjacent thumbnail of the past year illustrates, Nonfarm Employment remains in...
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