The $15 trillion rout in global equity markets since May is reawakening the lure of gold for investors seeking safety. Hedge funds and other large speculators more than doubled their net-long position in bullion last week, just three weeks after they were the most-bearish ever. Investor holdings of gold through exchange-traded products are expanding at…
Gold is Back in Fashion after a $15 Trillion Global SelloffDetailsThe U.S. Mint appears to have sold all of the American Eagle silver coins it has allocated so far this month. The Mint allocated 4 million ounces for the week of Jan. 11, when sales on 2016-dated coins began, and then 1 million for this and future weeks. This means an allocation of 5 million…
U.S. Mint Sells Nearly All of Silver-Coin Allocation So Far This MonthDetailsInvestors have noticed that the stock market has gone through a radical change in the past few months. Veteran investor Mark D. Cook, who pointed out red flags a year ago, feels vindicated. Finally, stock prices confirmed what he saw in 2014: We’re in a bear market and about to go over the cliff, he…
The Bear Market in Stocks has Finally ArrivedDetailsAny bounce in U.S. stocks will be short-lived, widely followed market watcher Dennis Gartman cautioned on Tuesday. The warning came as U.S. stocks were poised to open higher following data that showed China’s economy grew by 6.8 percent, easing fears of a more significant slowdown. What has the publisher of The Gartman Letter concerned is…
Gartman: Why Any Stock Bounce will be Short-LivedDetailsThe S&P 500 has begun 2016 with its worst performance ever. This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat of 2008. Nor do they want investors to believe this environment is commensurate with the…
A Recession Worse than 2008 is ComingDetailsThe stock market rout is starting to get really expensive — destroying $2.3 trillion from the market’s top last year and $1.5 trillion in net wealth just this year. The giant companies that predominantly populate the Standard & Poor’s 500 have fallen an average of 8.9% this year — which, when translated into dollars, is…
Market Crash Robs $2.3 Trillion from InvestorsDetailsThe late-day selloff came despite earlier gains sparked by better-than-expected trade data from China and an early bounce in oil prices from recent lows. But the two-day bounce faded as the mood shifted on Wall Street from the once-winning buy-the-dip mentality to a “sell the rally” strategy, says Jack Ablin, chief investment officer at BMO Private Bank. By the…
Late Selloff Puts Stock Indexes in CorrectionDetailsThere are cynics, there are doomsayers, and then there’s Albert Edwards, the Societe Generale economist who is in a league almost of his own. Edwards’ most recent call is that if the US economy plunges into a recession led by weak manufacturing output, stocks will be worth about a quarter of what they’re priced at…
ALBERT EDWARDS: If I'm Right, the US Stock Market will Fall 75%DetailsThe City of London’s most vocal “bear” has warned that the world is heading for a financial crisis as severe as the crash of 2008-09 that could prompt the collapse of the eurozone. Albert Edwards, strategist at the bank Société Générale, said the west was about to be hit by a wave of deflation from…
Beware the Great 2016 Financial Crisis, Warns Leading City PessimistDetailsRBS has advised clients to brace for a “cataclysmic year” and a global deflationary crisis, warning that major stock markets could fall by a fifth and oil may plummet to $16 a barrel. The bank’s credit team said markets are flashing stress alerts akin to the turbulent months before the Lehman crisis in 2008. “Sell…
RBS Cries 'Sell Everything' as Deflationary Crisis NearsDetailsThe Dow Jones industrial average closed down 167.65 points, or 1.02%, to 16,346.45, putting it more than 10% below its record close last May and back in correction territory. The blue-chip barometer had been up by almost 140 points earlier in the session. The Dow finished the first week of trading in 2016 down 6.19% — its worst…
Stocks Close Out Week with Worst Start to Year EverDetailsBillionaire financier George Soros is warning of an impending financial markets crisis as investors around the world were roiled by turmoil in China trade for the second time this week. Speaking at an economic forum in Sri Lanka’s capital, Colombo, he told an audience that China is struggling to find a new growth model and…
Soros: It's the 2008 Crisis All Over AgainDetails
