WOWS — Full Issue
An Alternative Way To View Or Print The Entire Current Issue As A Single Document
5/25/18 3:00 AMAttention 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]
"The End of Indexing"
Niel Jensen's Reasoned Case for Active, Niche Investing Now
5/25/18 3:01 PM
Niels C. Jensen, the founder and CIO of London’s Absolute Return Partners LLP, and highly
regarded author of its internationally known Absolute Return Letter, isn’t at all the sort of investment manager and advisor given to bombast. Far from it.
Before founding Absolute Return in 2002, the Danish banker put in stints in London at Shearson Lehman, Goldman Sachs — where he was co-head of its European equity business between 1992 and 1996 — when he joined Oppenheimer to run its European operations. [More]
Slowing Growth, Over-Achieving Consumers, Wages, Jobs & Jobless
5/25/18 8:00 AMBy Philippa Dunne and Doug Henwood
In a new NBER working paper, Robert Gordon asks “Why has economic growth slowed when innovation appears to be accelerating?” It’s easy to get distracted by the latest quarterly growth figures —and even be impressed when they come in above 2% — and forget the long sweep of history. Between 1920 and 1970, U.S. GDP growth averaged 3.7% a year; over the last decade, it’s been 1.6%, a decline of 57%. [More]
Are We There Yet?
Peak Monetary Policy Tightening’s Impact on Equities Strategies
5/25/18 7:00 AMBy Solomon Tadesse
Financial markets respond to changes in monetary policy. After years of ultra loose monetary policy following the financial crisis, the Federal Reserve has been on a tightening course, with the current Fed Funds rate standing at 1.5-1.75%. Yet despite the fact that unemployment is at an historic low, inflation has been uncharacteristically muted for an economy at such a late stage in the business cycle, driving the consensus view that we may still be far away from the top of the rate cycle, with official projections suggesting a path that could go beyond 2020. [More]
Take The Easy Profits
Selected Oils Likely Great Investments But Will Take Patience
5/25/18 7:01 AMBy Blaze Tankersley
Back on 1/31 we opened up long XOP via a short put as we worked with the forecast seasonality and took a “shotgun,” approach to the sector buying them all on top of the core stocks we had been focused on. I wrote,
“Seasonality in oil was off last year so we are cognizant of that but I could easily paint that as a bullish thing. [More]
Corporates’ Sinking Spell
Bond’s Worst Tumble Since 2000
5/25/18 5:01 AMBy Cecile Gutscher
You need to rifle through 18 years of history to find selloffs that compare to the one corporate bond investors are now enduring.
Debt of American companies just posted their third-worst 100-day returns since 2000, according to a JPMorgan Chase & Co. [More]
Big Data And The Illusion Of Sparsity
5/25/18 8:00 AMBy Domenico Giannone, Michele Lenza, and Giorgio Primiceri
The availability of large data sets, combined with advances in the fields of statistics, machine learning, and econometrics, have generated interest in forecasting models that include many possible predictive variables. [More]