Category Archives: Financial Markets

Around the Web

By Biiwii

Financial news & analysis from around the web

 

Around the Web

By Biiwii

Market News and Analysis From Around the Intertubes

 

Around the Web

By Biiwii

Market News & Analysis From Around the Web

 

Financial Services Industry Eats Clients

By Biiwii

Ref:  Why the big broker behind your financial adviser might be working against you

Tell me, which of them (the big brokers and investment houses) warned anyone about it being time to sell in 2000, or in 2007?  There are exceptions out there, especially in smaller boutique style shops.  But generally speaking, this thing we call Wall Street (big firms and the media that is their propaganda arm) exists to sell people the dream, then mark it up, front run it (in one way or another, legally or otherwise) extract fees from it and ultimately fleece it on the way down again (as regular people puke a tanking market and pay trading commissions for the privilege).

Here I cue up the old story about when I bought my first and only BMW (it was fine, but really it was not me) back in 2002.  The deal was done and I sat with the business manager to finalize the transaction.  He was a kid who had been fired from Merrill Lynch not 2 years earlier for keeping his clients in cash and totally safe at the market top.  Problem was, he was not turning tricks, err I mean commissions for Merrill.  All done.

Then there are the Certified Financial Advisers (the ones not incentivized with ties to performance) who are little more than mutual fund salesmen.  Don’t try to tell them about well rounded market analysis because they’re just going to go ‘la la la la la… I can’t hear you… have you stopped talking yet?… la la la…’ when you ask them about legitimate risk management strategies they employ.  Mine told me in 2000 ‘well, MFS and Putnam have professional money managers who would never allow big losses like you yourself would probably experience’.

Well thank you Putnam for cutting my wife’s IRA in half by 2002 (and it turned out, front running it) and MFS for chopping 40% off of mine.  This is when I pulled every penny from said adviser, did it myself and have since put on an annual average (including the last 3 very underwhelming years) of around 35% from 2002 to present day.

More than that though, the seeds were sewn for this website and its ‘not very pleased with Wall Street and the mainstream Financial Services industry’ orientation.

I get email updates from the White House and a recent one was talking about legislation to bring accountability to those financial advisers who are basically free to eat their clients (my words of course) and do not impose fiduciary responsibility upon themselves, and I think that is a good thing. These pigs need this responsibility imposed on them.

One thing that running NFTRH has done for me since 2008 is make me aware that there are plenty of advisers (some of whom subscribed) who are ethical and probably cannot live comfortably with themselves unless they are trying to do the right thing at all times.  This post is obviously about the other guys.  There’s a lot of them too.  Indeed, I’ll bet the big firms are infested with them.

Around the Web

By Biiwii

 

Around the Web

By Biiwii

 

Around the Web

By Biiwii

 

Around the Web

By Biiwii

 

Europe Rising vs. US, but India’s the Thing

By Biiwii

The Hedged Europe ETF (HEDJ) found support vs. (SPY) and the Europe vs. US trade remains a good one.  I took my HEDJ profit because there is resistance congestion coming up by longer-term charts of the Euro STOXX 50, DAX, etc., which are at interim upside targets.

hedj.spy

With respect to the previous post about USD and Euro, it sure looks like ‘so far, so good’ for European stocks in their ‘me too’ play to what the US did with its most recent, and successful* QE  a few years ago.  Because Europe is leveraging currency devaluation, it can only be a play for me.

Continue reading Europe Rising vs. US, but India’s the Thing

Around the Web

By Biiwii

A more annoying ‘around the web’ than usual…

  • Adjusting Barry Ritholtz for inflation and hypocrisy  –IKN  [biiwii comment: a short, sweet and perfect little post exposing b/s in a corner of the internet i don’t normally expect to find it. but then again, it’s everywhere isn’t it?  i am sure in all my years of writing you’ve even found some of it here… and @ IKN and well, everywhere]
  • What Top Fund Managers Really Think About Gold  –Casey Research  [biiwii comment: speaking of bullshit, i’ll go a little IKN on you and present the winner of the b/s olympics, this hilariously titled piece from jeff clark.  jim rickards helped bail out ltcm, wrote books and is a smart guy who i sincerely respect.  but a top fund manager?  really?  now the rest of them… a “wealth coach”, a part newsletter writer/part fund manager and then old pal chris martenson, a “futurist who specializes in energy depletion”… please.  it’s another gold article attempting to make sense of things that seemingly don’t make sense, and that is the answer… it doesn’t make sense but it is what it is.  got that jeff?  i just wrote a post that wondered if the gold promoters were extinct or maybe just tuned out.  they’re not extinct, so hopefully they are well tuned out.  i’d better move on before i get hung up on this one and piss myself off]

 

I Like to Box in Yellow Gox Box Socks

By Biiwii

Hey, I like Dr. Seuss.

The Semiconductors, which has been my favorite sector both for trading and for market indications (with the Biotech a close second) is merrily on its way to the 750 target.  This chart and its target were created as the Semiconductor index was consolidating a ‘Handle’ out of the ridiculous October hysterics (cue Microchip Semi with its idiot management… ‘errr, we are a bellwether and we see a Semi slow down’… FF 2 mos… ‘oh, never mind, business is great!’).  Amazingly, there are only 20 points to target.

sox