| |
11 09 2018 WOWS FULL ISSUE
An Alternative Way To View Or Print The Entire Current Issue As A Single Document
11/09/18Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
|
No Soothsayers, These
For ECRI's Achuthan and Banerji It's All About Cycle Data Analysis
11/09/18 3:13 AMLakshman Achuthan and Anirvan Banerji have your number, and yours and yours. Practically the whole world’s, in fact, as co-founders of Manhattan’s Economic Cycle Research Institute — or ECRI as it’s more often known. (Lakshman handles operations, Anirvan directs research.)
Widely known for the uncanny accuracy of the calls it makes about turning points in the economic cycle, ECRI is the economics shop for non-economists. By training and inclination, neither ECRI founder spends time tinkering with econometric models, nor do they expend intellectual capital arguing the finer points of neo-Monetarist versus neo-Keynesian religious beliefs, for either fun or profit. [More]
|
Manufacturing Slowdown
Risks To Growth Tilted To Downside
11/09/18 8:00 AMBy Dave Rosenberg
Global manufacturing activity, as per the IHS Markit data, slowed further in October, with the headline PMI composite falling to a nearly two-year low of 52.1. And early indications are that we will see further weakness in the months ahead, as the forward-looking new orders index touched a 25-month low. [More]
| | Global Investment Field
Lower Expecations, Lower Allocations
11/09/18 6:00 AMBy Dimitri Balatsos
Global Growth — Up the Down Escalator
The synchronized acceleration in global growth anticipated by the consensus earlier this year has lost its shine. By our own count, 2Q2018 was the peak in the rate of growth in this business cycle. [More]
| When History Rhymes
Pay Attention To Its Warnings
11/09/18 5:00 AMBy Christine Lagarde
Mark Twain once said that “History never repeats itself, but it does often rhyme.” As heads of state gather in Paris this week to mark 100 years since the end of World War I, they should listen closely to the echoes of history and avoid replaying the discordant notes of the past.
For centuries, our global economic fortunes have been shaped by the twin forces of technological advancement and global integration. [More]
|
| | Non-Committal
Patience the Key As Broken Stocks Find, Test Bottoms
11/09/18 7:01 AMBy Blaze Tankersley
On November 5th I wrote,
“The bear retains the edge clearly but the market is saying that it has discounted what is probable and only real black swan results are likely to disturb the consolidating and retesting process. Expect choppy results must continue as the downside momentum runs out in this episode. [More]
| Fading “TINA”
Could Active Management’s Stock Rise As Fed Slims Balance Sheet?
11/09/18 6:01 AMBy A Gary Shilling
Among investors the “tina” concept is fading —There Is No Alternative to equities. So they’ve been shifting assets from riskier ones such as emerging-market stock funds that pay higher fees to managers to lower-cost assets such as money-market funds that had their biggest net inflows in the third quarter since the last quarter of 2014. [More]
|
Insiders & Buyouts
Do Managers Undervalue Assets “To Help Themselves”?
11/09/18 8:00 AMBy Jarrad Harford, Jared R Stanfield, and Feng Zhang
Conflicts of interest arise in management buyouts (MBOs) and freezeouts: the acquirers (managers and controlling shareholders) have an incentive to pay the lowest price to selling shareholders, despite having a fiduciary duty to them. [More]
| | |
| |
|
|
|
