The MasterCharts: October 2010
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Sunday, October 31, 2010

No Gold Or Silver Bubble Says Sprott's John Embry

No Gold Or Silver Bubble Says Sprott's John Embry
Source: zero hedge
 26 October 2010 


On one hand, one has professional stock bubble top-tickers (of the variety that would benefit from some error-checking)-cum-amateur precious metal pundits claiming that the gold bubble is unmistakable. On the other, there are those who have made hundreds of millions of dollars for their investors actually investing in precious metals, such as in this case Sprott's John Embry, who states that there is no bubble in either gold or silver. "Jim Rogers, who is one of the world's leading authorities on commodities, dealt with the bubble issue recently by recounting an interesting anecdote. While addressing a group of high-end money managers, he inquired as to how many of them held gold or silver in their accounts, and remarkably, 75% replied they had never owned either precious metal. When gold is trading at several multiples of the current price at some point in the future, you can be assured that every single person at a similar gathering would be long and then discussion of a bubble might be legitimate. In my considered, opinion we are many years and thousands of dollars away in price from that debate." Whom does one believe? That's obviously rhetorical. Amusingly, Embry takes a stab at the Financial Times, which he dubs a conduit for the establishment: "The FT has been speaking much less disparagingly about gold recently. The paper consistently denigrated gold and its change in tone might be instructive." Of course, a variety of second-rate media outlets are more than happy to step in and fill the "goldbug" bashing void in the FT's absence.

Full recent thoughts from Embry (pdf):

 


Embry Oct22

Read more…


Wednesday, October 27, 2010

do the Credit markets paint bullish picture for Equity markets?

BMO seems to think so…

 

Figure 1: S&P Global 1200 and Sovereign Default Risk          

Description: cid:image003.jpg@01CB74E0.40F9A530

Figure 2:  S&P 500 and North American Inv. Grade CDS

Description: cid:image004.jpg@01CB74E0.40F9A530

 

Figure 3: Credit Default Swap Section of Equity Screening By.

 

 

Figure 4:  Bank of America Equity/CDS Overlay

 


Saturday, October 09, 2010

Tuesday, October 05, 2010

Financial Times: The global implications of QE2

October 04 2010 2:11 PM GMT
The global implications of QE2
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By Gavyn Davies
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Gavyn Davies on the global effects of another round of quantitative easing from the Federal Reserve

Read the full article at: http://www.ft.com/cms/s/0/4e74bd74-cfb9-11df-a51f-00144feab49a.html?ftcamp=rss



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