Third quarter financial statements suggest that the recovery leadership is shifting from consumer durables spending to capital goods spending.
Strategies
3460 posts
If you’re inclined to tumble around in those turbulent waters, go for it. But that’s precisely what we don’t want to do.
According to our work, in the past Malaysia has been a leading tell of shifts toward emerging market equity outperformance.
To borrow what Winston Churchill said about the Americans, “European politicians will do the right thing after exhausting all other options.”
With corporate earnings growth heating up and demand for capital rising, shares of companies with low and stable growth rates will likely perform poorly.
Why did we sell Morgan Stanley? Because public disclosures about banks’ sovereign debt exposures are useless in order to ascertain the level of risk with a reasonable degree of confidence.
Call me an optimist, but I don't see Europe allowing such a drastic and negative situation to manifest itself to large scale contagion.
If VIX contango persists, I will replace my short VXZ exposure with a short exposure to VXX to profit from the term structure.