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Posts by Wyatt's Torch

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  • The dangers of deflation The pendulum swings to the pit

    10/24/2014 11:00:54 AM PDT · 74 of 75
    Wyatt's Torch to Pelham

    No doubt it was abused. That what I meant by the “porked up Congress version”. I would also say that a lot of the bankers got away scott free. There should have more people thrown in jail. The massive fines don’t make any “person” accountable except the shareholders.

  • Jameis Winston expected to enter NFL Draft, but won't drop out of FSU

    10/24/2014 8:32:30 AM PDT · 26 of 26
    Wyatt's Torch to dfwgator

    He’s much more a pro style QB than JM

  • U-Verse customers report strange emergency message

    10/24/2014 8:31:09 AM PDT · 16 of 44
    Wyatt's Torch to BenLurkin

    The @Uverse twitter feed is filled with apologies. Example:

    AT&T U-verse @Uverse
    @WellsDunbar We’re investigating why this occurred and working toward a resolution. We apologize for the inconvenience this morning.

  • The dangers of deflation The pendulum swings to the pit

    10/24/2014 8:26:25 AM PDT · 69 of 75
    Wyatt's Torch to expat_panama

    A lot of people lump the GM bailout with TARP. Very very very different things. GM was a union bailout. There was no systemic risk if GM has to file chapter 11 which is exactly what should have happened. The banks, and AIG (who was the counterparty to all the CDS’s), were systemic risks.

  • Investment & Finance Thread Market Bounce Re-cap

    10/24/2014 8:21:54 AM PDT · 80 of 81
    Wyatt's Torch to expat_panama
  • Jameis Winston expected to enter NFL Draft, but won't drop out of FSU

    10/24/2014 7:51:12 AM PDT · 24 of 26
    Wyatt's Torch to HMS Surprise

    Great player. Total immature, moronic, arrogant, asshat who is going to end up killing/really hurting someone...but a good player.

  • GA Senate: Nunn 47 - Perdue 44

    10/24/2014 7:41:56 AM PDT · 47 of 70
    Wyatt's Torch to mrs9x

    Dear lord that is all he has done. Every ad he runs puts up the picture of her with Obama.

    Issue with the GOP in Ga right now is Perdue and Deal are just bad candidates.

  • The dangers of deflation The pendulum swings to the pit

    10/24/2014 7:14:38 AM PDT · 65 of 75
    Wyatt's Torch to expat_panama
    Mark to market... Reading Street Fighters about the collapse of Bear, showed what happens when there are liquidity rumors. Bear could not get anyone to accept their collateral for daily repo funding. Then it became a vicious cycle that put them out of business in 3 days. Lehman went through the same thing. Merrill was next. Imagine that with Citi, Wells, JPM, GS, BAC etc. That's what would have happened if TARP didn't backstop the system.
  • The dangers of deflation The pendulum swings to the pit

    10/24/2014 6:29:09 AM PDT · 60 of 75
    Wyatt's Torch to 1010RD

    Complete collapse of the credit system for years as banks unwound billions of derivatives and took massive losses. Runs on liquidity as everyone pulled out cash. Thousands of banks go under. Bigger collapse in asset prices unable to be paid back as they are now under water. Even more businesses shut down and tens of millions lose their jobs. It would have been what happened but x 1000. TARP allowed the Fed to step in as the lender of last resort and backstop the losses thereby securing the “full faith and credit” of the financial system.

    Yes it “distorted” the market and didn’t “allow it to clear” but the impact of that would have been disastrous. TARP did what it was supposed to do and stopped the freefall into many years long credit collapse.

  • The dangers of deflation The pendulum swings to the pit

    10/24/2014 4:08:45 AM PDT · 48 of 75
    Wyatt's Torch to 1010RD

    People “can’t get loans” (first of all that’s just false) because of credit overlays the banks are placing above and beyond the normal market restrictions because they are afraid of being prosecuted by DOJ if the loans go bad. I heard that over and over and over the last 3 years at housing conferences.

    I will always disagree on TARP (the original not the porked out Congress version). I think it saved an epic disaster. Far more than mere “disruption”.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 5:57:28 PM PDT · 38 of 75
    Wyatt's Torch to Lurkina.n.Learnin

    Interestingly Bill McBride who does the Calculated Risk blog posted this today:

    Few Comments on QE

    A few comments on QE:

    • The FOMC is expected to announce the end of QE3 on Wednesday October 29th, following the FOMC meeting next week.

    • Most research shows that the primary impact of QE on interest rates is from the size of the Fed balance sheet (”stock”) as opposed to the impact on supply and demand (”flow”). This means that interest rates will not spike when QE ends (something I’ve noted at the conclusion of previous QE purchases).

    • The positive impact of QE on the economy was probably modest and was the result of lower interest rates. QE probably lowered interest rates 50 bps (maybe more or less). However monetary policy has been the only game in town since fiscal policy has had a negative impact on the economy over the last 4 years (my view is the pivot to austerity was a mistake, and the actions of Congress for the last 3+ years have been negative for the economy).

    • The possible negative impacts of QE (such as inflation, weak dollar) never materialized. Inflation remains below the Fed’s target, and the U.S. dollar has strengthened recently. As I noted yesterday, without the recent increases in shelter (rent and OER), inflation would be close to 1% year-over-year. Without QE, inflation might be dangerously low!

    • At the end of the previous rounds of QE, the economy was still struggling from the effects of the housing bust and financial crisis. Households were still deleveraging in the aggregate. Now the economy is in much better shape, and the effects of the crisis are diminishing. Therefore I do not expect another round of QE during this recovery (although I think the first rate hike might be later than most people expect).

    • On inflation: Some people are warning that inflation will pick up as the economy gains traction (because of the size of the Fed’s balance sheet). That is possible, but I don’t expect a rapid increase in inflation. Many of the factors that led to sharply rising inflation in the ‘70s are not currently present (like wages and contracts tied to CPI and different demographics).

    • My view is QE was not a panacea, but overall QE was a success. I was a frequent critic of the Fed prior to the financial crisis - I think the Fed was almost anti-regulation during the housing bubble, and initially the Fed was behind the curve when the crisis was looming - however once Bernanke became aware of the severity of the crisis, the Fed was aggressive and effective. Perhaps they were a little slow in implementing QE3 - and with low inflation an argument could be made now to extend QE - but overall I think QE was a success.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 4:08:34 PM PDT · 33 of 75
    Wyatt's Torch to expat_panama

    It’s not just people on these threads. A lot of republicans think that QE is “printing money” and therefore is inflationary. All anyone has to do is look back at 1937-38 to see what happens if you tighten too soon and too quickly.

    Most people do not understand monetary policy. Both the DEMAND and the supply side.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 4:05:40 PM PDT · 32 of 75
    Wyatt's Torch to Lurkina.n.Learnin

    I think the primary catalyst was the removal off the gold standard and allowed free floating dollar. Volcker’s raising of rates and choking off demand to bring in line with supply finally broke the cycle that begin in 71.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 2:16:27 PM PDT · 27 of 75
    Wyatt's Torch to cynwoody
    The explanation as to why the Fed's "quantitative easing" has not caused more inflation is that the money hasn't circulated much, being not loaned out by the banks, but rather, kept on deposit at the Fed by the banks.

    We talk about velocity a lot. The unwinding of the asset purchases (taking liquidity back out of the system) is going to be critical. expat_panama and I have discussed that numerous times.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 2:14:20 PM PDT · 26 of 75
    Wyatt's Torch to eyeamok

    Deflation is far far far worse than inflation. See Japan for reference.

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 2:13:39 PM PDT · 25 of 75
    Wyatt's Torch to Lurkina.n.Learnin

    Yeah well that’s different ;-)

  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 2:13:20 PM PDT · 24 of 75
    Wyatt's Torch to expat_panama
    Just had a meeting with economists from Stone McCarthy. Their biggest risk/concern is the lack of inflation and noted the big drop in TIPS spreads over the last few weeks. Deflation or disinflation remains my biggest concern as well from a monetary standpoint. The biggest obstacle to growth remains fiscal and regulatory policy as we have frequently discussed.
  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 10:52:39 AM PDT · 7 of 75
    Wyatt's Torch to Lurkina.n.Learnin

    That’s not “deflation” :-)

  • Singer Joss Stone joins soldiers at dawn-till-dusk Cenotaph vigil (Poppy appeal)

    10/23/2014 8:08:51 AM PDT · 3 of 7
    Wyatt's Torch to Eurotwit

    She’s an odd duck but can really sing.

  • Investment & Finance Thread Market Bounce Re-cap

    10/23/2014 7:48:49 AM PDT · 70 of 81
    Wyatt's Torch to expat_panama
    LOL

  • Here's one campaign promise that Obama has (unfortunately) kept

    10/23/2014 7:37:19 AM PDT · 7 of 8
    Wyatt's Torch to expat_panama
    One major fallacy the right uses is "gas was under $2 when Obama came to office and now it's close to $4" - Yeah that happens in a major economic slowdown like we saw in late 2008 and most of 2009. Yes it is technically correct but largely irrelevant to anything having to do with policy. Gas and oil prices recovered to more "normal" levels during the current recovery. And for those that want to "drill here, drill now!" well, we are thanks to fracking technology (output levels are the highest since the early 80's). You also cannot have low oil prices and output at the same rate. Bakken and Eagle Ford have breakeven rates over $60/bbl. <$2 gas and $40 oil are gone.

  • Investment & Finance Thread Market Bounce Re-cap

    10/23/2014 5:49:45 AM PDT · 69 of 81
    Wyatt's Torch to expat_panama
    4WMA Claims lowest since 2000:

  • Democrats Fed Up With Obama's Inept, Embarrassing White House

    10/23/2014 5:10:25 AM PDT · 34 of 60
    Wyatt's Torch to Biggirl
    Businessweek cover:

  • Retina iMac Review: The Screen That Makes Desktops Relevant Again

    10/23/2014 5:07:17 AM PDT · 31 of 41
    Wyatt's Torch to Sir_Ed

    What Dell 4K monitor would be good? I need to replace my 7 year old Mac Pro and am thinking of the Mac Book Pro/Monitor option. Thanks.

  • Retina iMac Review: The Screen That Makes Desktops Relevant Again

    10/23/2014 5:05:22 AM PDT · 30 of 41
    Wyatt's Torch to Swordmaker

    It’s time to replace my early 2008 Mac Pro. It has lived a very long and very productive life. I am intrigued by this machine but am contemplating going the Mac Book Pro/27” Monitor combo so I have the option of portability. Anyone have an opinion?

  • Investment & Finance Thread Market Bounce Re-cap

    10/22/2014 7:20:12 AM PDT · 61 of 81
    Wyatt's Torch to expat_panama

    The return of market volatility sent the S&P 500 to a low of 1,820 last Wednesday, down 9.8% from its September 19 all-time high of 2,019.

    There certainly hasn't been a shortage of concerns. The global economy has been slowing, commodity prices have been plunging, geopolitical tensions have been high, and the Ebola virus has been spreading. And all this came amid expectations that the Federal Reserve would soon tighten monetary policy.

    But at 1,941 today, the market is now up a remarkable 6.6% in just five trading days.

    "The question is this: "What changed so much in the macro picture since just four sessions ago when everyone was hitting the panic buttons??" NYSE floor governor Rich Barry asked. "Three things have changed:

    "1) The Street is expecting the Fed to be slightly more dovish when they meet next week. Last Thursday, (perfect timing, I might add), St. Louis Fed President James Bullard said the Fed "should consider delaying the end of its bond purchase program to halt the decline in inflation expectations." As we said in this note, the market, up until that point, did not even think it was possible to delay the end of QE. Although nobody really expects them to keep the QE program going, there is a growing sense that the FOMC will push out the date for interest rate hikes.

    "2) Oil (finally) has stopped its free-fall, and is now simply languishing in the low 80s. As a result, energy stocks have stabilized and are not weighing heavily on the indices.

    "3) With a cautioned sigh of relief, we add that the Ebola concerns have eased. It was a huge relief when it was reported that 43 of the 48 people on the original watch list in Dallas had passed the 21-day incubation period and appear to be in the clear. We believe that the Ebola scare was a HUGE issue for the market. If the news continues to be positive, we believe this relief (short-covering) rally will continue."

    The S&P is almost as close to its high as it is to its recent low. Which way do we go next?

  • Investment & Finance Thread Market Bounce Re-cap

    10/22/2014 7:13:20 AM PDT · 60 of 81
    Wyatt's Torch to Lurkina.n.Learnin

    Yeah couldn’t have anything to do with GDP increasing... Has to be the tax hikes... SMDH

  • Investment & Finance Thread Market Bounce Re-cap

    10/21/2014 8:02:53 AM PDT · 48 of 81
    Wyatt's Torch to expat_panama
    Discuss...

  • Obama's Strange Dependence on Valerie Jarrett

    10/21/2014 6:09:02 AM PDT · 15 of 70
    Wyatt's Torch to Cincinatus' Wife

    First female president...

  • Investment & Finance Thread Market Bounce Re-cap

    10/21/2014 6:05:20 AM PDT · 45 of 81
    Wyatt's Torch to expat_panama
    We definitely need to drill for more oil right?

  • Investment & Finance Thread Market Bounce Re-cap

    10/21/2014 4:55:12 AM PDT · 44 of 81
    Wyatt's Torch to expat_panama

    Dow futures up 75 this morning

  • My sources say there has been a major release of U.S. oil reserves

    10/20/2014 11:05:59 AM PDT · 50 of 101
    Wyatt's Torch to MeneMeneTekelUpharsin

    SMDH...

  • Investment & Finance Thread Market Bounce Re-cap

    10/20/2014 10:48:54 AM PDT · 39 of 81
    Wyatt's Torch to Lurkina.n.Learnin

    Exactly. Furthermore the details are stored on the phone and never hit the Apple servers or the merchants servers. I think it required touch id as well to use. Apple has agreements with the banks to process as “card present” which is lower fees than “card not present.” It’s pretty innovative and potentially disruptive.

  • Investment & Finance Thread Market Bounce Re-cap

    10/20/2014 7:55:54 AM PDT · 35 of 81
    Wyatt's Torch to abb

    DJIA driven by the decline in IBM

  • Investment & Finance Thread Market Bounce Re-cap

    10/20/2014 5:19:22 AM PDT · 30 of 81
    Wyatt's Torch to expat_panama
    MS commodities forecast:

  • Investment & Finance Thread Market Bounce Re-cap

    10/20/2014 4:37:02 AM PDT · 26 of 81
    Wyatt's Torch to abb
    Spot the moment IBM announced a clunker quarter and lowered guidance?

  • OSX.10 Yosemite released - Direct Link to download

    10/17/2014 12:45:14 PM PDT · 18 of 36
    Wyatt's Torch to Swordmaker

    Updated my early 2008 Mac Pro last night. Looks good!

    It is time for me to look at a replacement though. It’s almost 7 years old... Looking at the new 5K Retina 27” iMac

  • Investment & Finance Thread Freepathon Special

    10/17/2014 10:41:14 AM PDT · 112 of 114
    Wyatt's Torch to expat_panama

    NYSE MAC DESK MID-DAY MARKET UPDATE:
    DOW 16,417 (+300 points), S&P500 1892 (+29 handles), Brent Crude $86.00/barrel (+$0.18), Gold $1,232.60/oz. (-$7.90)

    MARKET DRIVERS: (Stocks are exploding to the upside amid a solid round of corporate earnings and better-than-expected housing and consumer confidence data.)

    • According to the Commerce Department, Housing starts climbed 6.3% in September to a 1.02 million annualized rate from a 957,000 pace in August. The reading was in-line with consensus estimates.
    • The University of Michigan preliminary consumer confidence index for October increased to 86.4, the strongest since July 2007, from a final reading of 84.6 in September. The October reading topped the consensus estimate of 84.
    • China’s central bank said it would inject up to 200 billion yuan, ($32.8 billion), into 20 large national and regional banks.
    • European markets also rallied sharply as an ECB board member indicated that the central bank will start buying asset-backed securities and covered bonds “within the next few days” as part of its new program. (Greece is up by 1,170 Dow-equivalent points!)
    • In the IPO-space, Zayo Group priced 21.052M shares last night at $19/share. The stock opened on the NYSE floor this morning at $21.51.

    Rich’s Commentary:
    Good news: the ‘Take ‘em Boys’ are back!... It has been an insane week for stocks, that’s for sure... For illustrative purposes, we’ve attached the one-week chart of the Dow below which shows how the market traded down 747 points from Monday’s highs to Wednesday’s lows — then reversed by 545 points from Wednesday’s low to today’s session-highs... Amazing. By the way, Wednesday was so ugly, many investors/traders were reaching for the panic button. Today, we see the short sellers reaching for that same panic button. Several factors have contributed to today’s rebound off of massive losses:
    1- Technically, the major indices were way oversold.
    2- Word hit the tape that the ECB is implementing a Bernanke-type QE program “within a couple of days”. (By the way, Greece rebounded by 1,100+ Dow-equivalent points today, after dropping the same amount on Wednesday!)
    3- Yesterday’s comments by St. Louis Fed President Bullard, that the Fed should consider delaying the end of its bond purchase program to halt the decline in inflation expectations. (No one knew that was even an option!)
    4- Solid earnings reports and guidance, particularly from Big Industrials, (GE and Honeywell).
    We think the volatility is here to stay for a while, so keep your helmets at the ready just in case... Moving on, the Dow continues to extend to new session-highs, while volume is strong again today, (options expiration), with ~400M shares on the tape at this time. Internally, breadth is bullish across the board. Advancing Issues: 3362 / Declining Issues: 895 — for a ratio of 3.8 to 1. Advancing Volume exceeds Declining Volume by a ratio of 5.3 to 1. New 52-Week Highs: 38 / New 52-Week Lows: 14... Meanwhile, in the trading pits, Brent crude for December settlement advanced 1.2% to $86.83/barrel after gaining 2% yesterday. Some dovish Fed commentary and improved consumer confidence data is helping to rally crude off of the 28-month low it set two days ago. Bonds are lower again as traders fade the fear trade; bumping the 10-year US Treasury yield up to 2.209%... Notre Dame vs. FSU tomorrow should be a heck of a battle... We like the Irish... Have a tremendous weekend!

    Sector Highlights brought to you by: streetaccount.com »

    Industrials the best performer with the S&P Industrials Index +2.5%.
    • Multis outperforming. TXT +11.1% leading after Q3 EPS beat as better margin performance offset weaker sales and increased F14 EPS guidance by 4%. HON +4% as Q3 EPS beat by ~4% on better organic growth, segment margins and taxes and raised low end of F14 EPS range. GE +3.7% Q3 EPS of $0.37 beat by a penny; 90 bp of industrial margin expansion and 31% increase in equipment orders the bright spots.
    • Transports +2.1% mostly higher. Rail names generally outperforming, led by CP +3.9%, but KSU (0.5%) lagging after Q3 earnings better, although some attention on light volume growth. Trucking names led by YRCW +4.4%, while SWFT +2.2% added to Short-Term Buy List at Deutsche Bank and ODFL +2.3% upgraded to buy from neutral at Longbow Research. Airlines mostly higher, led by DAL +4.2%.
    • Building materials outperforming. EXP +3.9% announced will acquire CRS Proppants for ~$225M cash. VMC +4.1%, MLM +3.8%.
    • Machinery outperforming. ETN +4%, TEX +3.5% among notable gainers. Ag names lower, notably CNHI (1.7%), with selloff in corn and soybeans a likely headwind.

    Energy outperforming with the S&P Energy Index +2.3%.
    • Sector bouncing back with Brent Crude +1.2%, WTI Crude +0.9% to $83.44 trading higher as well. Note the sector has been beaten down recently, falling ~10% over the past month. Natural gas (1.3%).
    • Integrateds outperforming. COP +4.4%, OXY +4.1% and HES +3.3% leading the way higher.
    • Oil services higher with the OSX +1.6%. SLB +5.7% rallying after beating earnings expectations. Analysts were pleased with North American and Latin American performances. CJES +6.7%, HAL +6%, NBR +5.1% and WFT +2.7% also outperforming. NBR upgraded at both Cowen and UBS. PTEN +3.8% also upgraded by UBS. RIG +0.4% and HERO (4.8%) both downgraded at Cowen.
    • E&Ps rallying with the EPX +2.1% adding to yesterday’s ~3.5% move higher. HK +5.7%, SM +5.2%, CLR +5.2% and WLL +4.8% a few of the notable gainers. CHK +0.2% adding to yesterday’s ~17% gain on the back of its sale of Southern Marcellus and Utica Shale assets to SWN +0.8%. Recall SWN fell ~10% yesterday on the news, but was upgraded by Raymond James this morning.
    • Other notable performers: PSX +4.7%, ACI (6.3%).

    Healthcare outperforming with the S&P Healthcare Index +2.1%.
    • Hospitals and managed care adding to yesterday’s outperformance. THC +3.3% and HCA +3% leading the hospitals. Recall HCA had a positive preannouncement yesterday. AET +3.1% and WLP +2.8% leading the managed care names. UNH +1.7% upgraded at Leerink Partners, which believes the company will start growing again in 2015.
    • Biotech broadly higher with the IBB +2.5%. Large-caps doing well, with GILD +4.7%, CELG +3.2% and BIIB +3.1%. REGN +9.6% rallying after announcing EYLEA injection meets the primary endpoint. Doesn’t appear impacted by AMGN +1.7% patent infringement lawsuit. MYGN (7.3%) selling off after receiving draft Medicare coverage from Prolaris, and lowering Q1 guidance.
    • Ebola related stocks mixed. IBIO +18% and SRPT +5.1% a few of the notable performers. SRPT announced the publication of Ebola and Marburg phase I clinical study results last night. VSR (15%), NLNK (9.7%) and LAKE (6.2%) all under pressure.
    • Other notable performers: SNN +4.1%, MCK +3.2%, ACT +2.4%. MCK initiated outperform at RBC Capital.

    Tech in line with the S&P Information Technology Index +1.7%.
    • Semis outperforming again with the SOX +2.1%. Earnings in focus with XLNX +7% after Q3 EPS beat by nearly 13% on better GMs with aerospace/defense the bright spot, while communications disappointed. ADM +3.8% Q3 missed and company guided Q4 revenue down 10-16% q/q, but Street more upbeat on restructuring plan that will include 7% global workforce reduction. SNDK (1%) lagging as Q3 EPS beat despite slight revenue miss on better GMs, with Street takeaways fairly upbeat, but supply constraints seen as a near-term overhang.
    • Internet mixed. GOOG (1.4%) in focus after reporting Q3 EPS miss driven by lower than anticipated revenue and higher than expected expense growth, although Street reaction fairly neutral to report. NFLX (5.1%) continuing to selloff. FB +3.3% , TWTR +3% among leaders.
    • Hardware also broadly higher. BBRY +3.4% among leaders. WSJ’s Heard on the Street column was cautiously positive on AAPL +2.2%, noting new iPad won’t be a major driver of growth, but as welcome addition to line-up.
    • Software broadly higher. FTNT +4.3%, SAP +3.6% and CRM +3.3% among notable gainers.

    Consumer discretionary in line with the S&P Consumer Discretionary Index +1.7%.
    • Retail relatively underperforming with the S&P Retail Index +1.1%. URBN (13.4%) getting hit after saying the previously reported Q3 negative comps have continued quarter-to-date. The stock was downgraded by multiple analysts. WTSL (4.4%), AEO (3%), ANF (3%) and ARO (2.9%) the other notable decliners among the apparels. Dollar stores and discounters outperforming after Stifel Nicolaus initiated BIG +3.4%, DG +3% and DLTR +2.2% all with buy ratings. Housing-related space also outperforming with LOW +2.4% and LL +0.8% topping gains.
    • Apparel and accessories led lower by VRA (2.7%), MOV (1.3%) and TIF (1.2%).
    • Homebuilders higher with the ITB +1.5%. Housing starts beat slightly this morning, while permits were weaker. Continued to be driven by multi-family. HOV +5.4% leading the way. WLH (0.2%) the notable decliner.
    • Auto space adding to yesterday’s rally. Services/parts led higher by MGA +3.6%, VC +3.5%, TEN +3.3% and HTZ +3.2%. GM +3.3% and F +1.3% also adding to yesterday’s strength.
    • Media space broadly higher. TWC +3.1%, CMCSA +3%, DIS +2.8% and DISH +2% the notable outperformers.

    Financials underperforming with the S&P Financials Index +1.6%.
    • Banks below the tape with the BKX +1%. Money centers led by JPM +2.9%, while BAC +2%. Investment banks getting a lift from MS +2.6% earnings which showed big EPS beat with wealth mgmt., trading and IB helping. However, regionals mixed with the KRX +0.4% after busy day of earnings. Upbeat market reaction to earnings from STI +3.4%. However, earnings from CMA (2.3%), MTB (0.9%), HBAN +0.2% and BK +0.7% not as well received.
    • Credit cards mixed. COF (3.2%) lagging after reporting Q3 EPS miss. AXP +3.3% notable gainer.
    • Online brokers rebounding with ETFC +2.3% and SCHW +2.1% leading.
    • Insurers outperforming, led by LNC +3.1%, PFG +3%.
    • Asset managers outperforming. APO +5%, KKR +3.9%, FIG +2.8% the leaders.

  • Investment & Finance Thread Freepathon Special

    10/17/2014 7:30:58 AM PDT · 106 of 114
    Wyatt's Torch to expat_panama
    The entire economy as depicted by emoji:

  • Ron Klain to be Ebola czar: report

    10/17/2014 7:20:44 AM PDT · 12 of 132
    Wyatt's Torch to sunmars

    Yeah he sounds qualified to handle a major health crisis...

    Ronald A. “Ron” Klain is an American lawyer and political operative best known for serving as Chief of Staff to two Vice Presidents - Al Gore (1995–1999) and Joseph Biden (2009–2011).[1][2] He is an influential Democratic Party insider. Earlier in his career, he was a law clerk for Supreme Court Justice Byron White during the Court’s 1987 and 1988 Terms and worked on Capitol Hill, where he was Chief Counsel to the Senate Judiciary Committee during the Clarence Thomas Supreme Court nomination. He was portrayed by Kevin Spacey in the HBO film Recount depicting the tumult of the 2000 presidential election.

  • Investment & Finance Thread Freepathon Special

    10/17/2014 5:45:49 AM PDT · 104 of 114
    Wyatt's Torch to expat_panama

    We are nearing the bottom of the bowl...

  • Investment & Finance Thread Freepathon Special

    10/17/2014 5:30:41 AM PDT · 102 of 114
    Wyatt's Torch to expat_panama

    Housing Starts 1.017MM, Exp. 1.008MM,
    Permits 1.018MM, Exp. 1.030MM

  • Investment & Finance Thread Freepathon Special

    10/17/2014 4:37:53 AM PDT · 100 of 114
    Wyatt's Torch to expat_panama

    Einhorn’s Greenlight Capital raising money for a new fund.

  • Investment & Finance Thread Freepathon Special

    10/16/2014 12:58:14 PM PDT · 96 of 114
    Wyatt's Torch to Aliska

    Zero Hedge and some others have used the “3:30 Ramp, LLC” name for a while. Primarily as a moniker for the Fed’s POMO.

  • Investment & Finance Thread Freepathon Special

    10/16/2014 10:56:03 AM PDT · 93 of 114
    Wyatt's Torch to expat_panama

    Got it off Twitter but it’s a Bloomberg screen shot

  • Investment & Finance Thread Freepathon Special

    10/16/2014 8:22:56 AM PDT · 90 of 114
    Wyatt's Torch to expat_panama
    Interesting chart:

  • Investment & Finance Thread Freepathon Special

    10/16/2014 5:57:17 AM PDT · 88 of 114
    Wyatt's Torch to expat_panama
    Population adjusted claims:

  • Investment & Finance Thread Freepathon Special

    10/16/2014 5:32:13 AM PDT · 87 of 114
    Wyatt's Torch to expat_panama

    Claims 264,000 - lowest since June 2000

  • Investment & Finance Thread Freepathon Special

    10/16/2014 5:05:32 AM PDT · 85 of 114
    Wyatt's Torch to expat_panama
    Inflation expectations are lowest since 2010:

  • How Reparations Could Happen

    10/16/2014 4:58:52 AM PDT · 91 of 104
    Wyatt's Torch to Chgogal; expat_panama; Lurkina.n.Learnin

    Can anyone validate the $500K+ average household net worth?