Archive for June, 2012

LIBOR 4-1-9

Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.

I remember the first time I had to toil through the turgid definitions and legal boilerplate constituting the LIBOR provisions of a typical syndicated loan agreement. I remember saying to myself I hope I never have to lok at this shit again.

But it was not to be.

During the course of my career I had to read the same whiteshoe goobldygook over and over, including when I took out my last mortgage. Why? Because it is ubiquitous in modern finance. Interest rate clauses are one of the cornerstones.

Yet LIBOR is not the kind of thing that the average man on the street thinks about or even reocgnises by reference.

Search “LIBOR” in google news. Better yet, search ” LIBOR cesspit.” You will see that there are literally thousands of news stories covering the LIBOR scandal, which obviously encompasses Barclays and the entire TBTF banking system. 

Suddenly English politicians are calling it a “massive cesspit.” These are the people who chose to ignore that every facet of the ongoing global financial crisis somehow winds its way back into the financial Liberia known as the City of London (e.g. AIG Financial, Lehman, MF Global, London Whale to name but a few). 

The truth is what we all ready know. You would be very very hard pressed to find a pristine ungamed corner of TBTF banking. It is not that the politicians don’t know this. It is that they have been paid to shut their mouths.

And now they will be paid to control the damage from this unfortunate LIBOR situation as best they can.

There are three things you can say about every TBTF CEO: 1. They are grossly incentivized to push the envelope as far as possible, 2. They all claim there is too much regulatory oversight and 3. They all say they are unable to monitor the reckless and criminal activities of their far flung operations.

The answer: Bust them up and start throwing the culprits in the big house you sack of useless poltical and regulatory porn turds!













Barclays has something to hide
They’ve taken the world for a ride
By fixing the rates
Their profit inflates
All Banksters have cheated and lied

The Limerick King











Can Greece Buy Freedom From Debt For a Mere €3,000 Per Person?

Courtesy of Mish.

Greek shipping heir Peter Nomikos has a plan wipe out Greek debt. His idea is to buy all the Greek bonds then forgive the debt.

Given that Greek bonds sell for 12 cents on the dollar, on the surface his plan may seem like a reasonable idea. First let’s consider the idea, then potential problems.

Der Spiegel interviews Peter Nomikos who says ‘For a Donation of 3,000 Euros, Every Greek Can Buy Freedom’

Greek shipping heir Peter Nomikos has taken matters into his own hands. While EU leaders wrangle for a solution to Greece’s problems, Nomikos started a non-profit to wipe out the country’s debt. If all of his countrymen do their part, he tells SPIEGEL ONLINE, they will be able to shore up the country’s finances.

SPIEGEL ONLINE: Mr. Nomikos, you have just started a campaign to free Greece of debt. Your organization buys up Greek bonds and then forgives the debt. Are you serious?

Nomikos: Professionally, I deal with distressed debt. And it struck me that Greece has a historical opportunity. In the euro, the Greeks have a very strong currency, while the price of their government bonds has collapsed. That makes it possible to buy back debt at very low prices and reduce the Greek debt burden with relatively little expenditure.

SPIEGEL ONLINE: You are asking your countrymen for donations. What do you tell them?

Nomikos: If you break down the national debt, each Greek owes around €25,000 ($31,485). So I am telling my fellow citizens to make themselves debt-free. Greek government bonds with a nominal value of one euro currently trade for around 12 cents. For a donation of around €3,000, every Greek can buy his freedom.

SPIEGEL ONLINE: How many bonds has your foundation already bought?

Nomikos: We always buy those bonds that have the deepest discount. So far we have invested €273,000 ($343,816) and hold €2.2 million ($2.8 million) in Greek debt.

SPIEGEL ONLINE: And then you cancel the debt?

Nomikos: Not immediately. If we did that, we would decrease the impact of our project. When the GDP-to-debt ratio goes down, bond prices go up. If the movement becomes a great success, this could become a problem, because we cannot buy debt as cheaply on the markets. So we hold these bonds for

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Germany Cries: “Europe Is Coming For Our Money”, Greece Promptly Obliges

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

"Greece is an exception in the Euro Zone" - Angela Merkel, December 9, 2011

"Exception from ESM Seniority only applies to Spanish aid" – Angela Merkel, June 29, 2012


It took about a year, but finally Germany, with a little assistance from Merkel on Friday morning, has figured it out. And is now blasting it on the front pages of its various newpapers:


Europe is coming for our money!

What else does Die Welt say:

When economic historians in a few years determine the turning point at which the euro zone turned into a debt community, they may refer to the last Thursday night. In those dramatic hours when Angela Merkel after massive pressure from Italian Prime Minister Mario Monti and Spanish Prime Minister Mariano Rajoy buckled – and agreed to an agreement whose scope is now very difficult to estimate.

Specifically, what is now painfully clear to everyone in Germany is that if indeed Merkel's declarations over the past few days are to be taken at face value, then Germay has just lost control over European supervision: a topic very near and dear to all Germans' heart, as up until this point money would be handed out only in exchange for conditionality. A move whie Welt calls a paradigm shift: "To date the Germans insisted that the €-aids come equipped with shackles. Money was always associated with reform programs that were monitored by the Troika of the EU, European Central Bank (ECB) and International Monetary Fund (IMF)." That is now no longer the case. At least according to conventional wisdom:

Precisely for this reason were countries like Portugal and Ireland long afraid to apply for assistance. Now dipping into the bailout pot will be far easier… The federal government has always stressed that any bailout will come with strict conditions. Now all has changed, partly because of pressure from the financial markets. Italy and Spain struggling with risk premiums at record levels. So far, however, they refused to implement emergency measures. That could now change. Monti has already cheered: "the Troika will never come to Rome."

Die Welt may be on to something: while in the case of the Spanish bailout, the European action opened the…
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Devalue the Euro?

Devalue the Euro

Courtesy of Bruce Krasting

Holy smokes! The EU technocrats have finally pulled out the big guns! The agreement on Friday was to take the incredibly bold step of avoiding subordination in the Spanish bond market. The money needed for the busted Spanish banks will now be made available directly from Brussels with few strings attached. Wow! What a breakthrough!

Global markets have taken a quick look at what has been offered up by the deep thinkers in Euroland and said, “WE LOVE IT!”

Me? I think it’s a spit in the bucket. The half-life of this bailout will be measured in weeks.

We have seen this play out time and again the past four years. The capital markets are forcing policy decisions. 

“Wise” people like Paul Krugman have said for years that “Bond Vigilantes” don’t exist. There is no doubt any longer that they exist and are alive, well and hungry. The vigilantes are also armed with highly sophisticated robots that can execute attacks on multiple fronts and across markets in milliseconds. The war going on in the bond markets is not over by a long shot.

My read of the EU summit is that Spanish banks are going to get a “soft” bailout. Existing common shareholders and subordinated bond holders will not get wiped out (as they should). The bankers must love this result. They get to keep their jobs for a few years longer, all the time praying for a miracle.

Where does this go? Directly to Italy. Which Italian bank would love to have some of that cheap equity money that Brussels is doling out? All of them.

But here’s the deal, France’s banks are in desperate need of new equity too. They have been selling off assets left and right. That’s no way to keep up employment in Socialist France. There are some very big balances sheets in Paris that need a new slug of 3% Perpetual Preferreds. If Italy’s banks get the "Sweet Deal," then the French banks will have their hands out too.

Talking about re-caps of banks in Spain, Italy and France, we might just as well include a few dodgy banks in Brussels. A couple of German banks are also thin on equity.  Add a few of them to the list.

Ah… I’m sorry to rain on the parade, but the number derived…
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Foie gras and Illegal Immigrants

Courtesy of ZeroHedge. View original post here.

Submitted by testosteronepit.

Wolf Richter

The other day, we were doing one more time what on Sunday will become illegal in California: eating foie gras in a restaurant. Pan seared foie gras “traditionally raised in Sonoma, California,” served with poached local apricots. I’d go to jail for this anytime. We were sitting at the edge of San Francisco, looking at the Bay and the Bay Bridge draped across it, and we were talking—when we weren’t preoccupied by the divine, unctuous foie gras—about sweet corn and illegal immigrants.

Foie gras is a dish the Greeks already enjoyed, and I don’t mean the austerity Greeks under Prime Minister Giorgios Papandreou, but the Greeks that fought off the Persians. And it’s one of the many paradoxes in California—a state that has absolutely everything except a decent government and a balanced budget. Lobbied by well-meaning people, I suppose, Republican Governor Arnold Schwarzenegger, in his infinite wisdom, signed a law in 2004 that made the sale and production of products derived from force-fed birds illegal. But he gave us some time to adjust to this harsh new life: the law wouldn’t take effect until July 1, 2012. OK, it’s banned in other countries too—Italy, the UK, and Germany for example—and Chicago experimented with a ban for a couple of years.

Force-feeding hapless geese and ducks—gavage as it’s called—is certainly gruesome, but so is just about anything else that has to do with meat. Ever watch an orca hunt and eat a sea lion? It’s brutal out there, and the food chain knows no mercy and has no human sentiments. We use drones to bomb people in distant countries, but when it comes to the sensuous pleasure of two slices of foie gras, we get squeamish.

A lugubrious moment: eating the final but to-die-for products of a mini-industry that had been exterminated by the government; and California still has double-digit unemployment. There were a number of us. The guy across from me was in charge of the wine. He knew his way around Bay Area vintners, was a farmer, and had a degree in economics.

He was talking about sweet-corn and the harvest that had started some time ago. If you’re a city guy like me, listening to a farmer over superb wine and foie gras is fascinating. Sweet corn, the result…
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The Dark (Pool) Truth About What Really Goes On In The Stock Market

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Courtesy of the author, we present to our readers the following excerpt from Dark Pools: High-Speed Traders, AI Bandits, and the Threat to the Global Financial System, by Scott Patterson, author of The Quants.

In early December 2009, Haim Bodek finally solved the riddle of the stock-trading problem that was killing Trading Machines, the high-frequency firm he’d help launch in 2007. The former Goldman Sachs and UBS trader was attending a party in New York City sponsored by a computer-driven trading venue. He’d been complaining for months to the venue about all the bad trades—the runaway prices, the fees—that were bleeding his firm dry. But he’d gotten little help.

At the bar, he cornered a representative of the firm and pushed for answers. The rep asked Bodek what order types he’d been using to buy and sell stocks. Bodek told him Trading Machines used limit orders.

The rep smirked and took a sip of his drink. “You can’t use those,” he told Bodek.

“Why not?”

“You have to use other orders. Those limit orders are going to get run over.”

“But that’s what everyone uses,” Bodek said, incredulous. “That’s what Schwab uses.”

“I know. You shouldn’t.”

As the rep started to explain undocumented features about how limit orders were treated inside the venue’s matching engine, Bodek started to scribble an order on a napkin, detailing how it worked. “You’re fucked in that case?” he said, shoving the napkin at the guy.


He scribbled another. “You’re fucked in that case?” “Yeah.”

“Are you telling me you’re fucked in every case?” “Yeah.”

“Why are you telling me this?”

“We want you to turn us back on again,” the rep replied. “You see, you don’t have a bug.”

Bodek’s jaw dropped. He’d suspected something was going on in- side the market that was killing his trades, that it wasn’t a bug, but it had been only a vague suspicion with little proof.

“I’ll show you how it works.”

The rep told Bodek about the kind of orders he should use— orders that wouldn’t get abused like the plain vanilla limit orders; orders that seemed to Bodek specifically designed to abuse the limit orders by exploiting complex loopholes in the market’s plumbing. The orders Bodek had been using were child’s play, simple declarative sentences…
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Crude Oil Market: A Perfect Bear Storm Despite the Euro Pop

Courtesy of ZeroHedge. View original post here.

Submitted by EconMatters.

By EconMatters

Crude oil prices, along with world stocks, surged on Friday after euro zone leaders reached an accord on directly recapitalizing regional banks as well as measures to cut soaring borrowing costs in Italy and Spain.  Brent crude jumped more than 7% in one day to close at $97.80 a barrel, while WTI also settled up 9.36% to $84.96 a barrel on NYMEX.  However, for the quarter, spot Brent and U.S. oil futures still fell 20.4% and 17.5$ respectively--their steepest quarterly percentage drops since the fourth quarter of 2008 post financial crisis.  Looking ahead, we believe this little ‘Euro pop’ will soon fizz out weighted down by the reality of basic market fundamental factor.     

First of all, the Euro accord bandaid does not fundamentally change what’s causing the current crisis to begin with--high sovereign debt, out-of-control government spending, and insolvent regional banks.  Add to this scenario is a slowing of European demand, parts of Europe are in a recession, and this not only affects less oil being consumed in Europe, but backs all the way up the supply chain from Ford automobiles being sold and needing to be manufactured, to Chinese factories needing to ratchet manufacturing cycles down to account for less demand out of Europe.

Macroeconomics aside, the oil inventory picture in the U.S. is also quite interesting, to say the least, these days. For example, On 1/27/2012 there was 338,942 Million Barrels in US storage facilities, then on 2/24/2012 it started slowly rising to 344,868 Million, then Inventory builds started accelerating as on 3/23/2012 there were 353,390 Million on hand, then we jumped dramatically to 375,864 Million Barrels on 4/27/2012, with another sizable increase to 384,740 on 5/25/2012, and on 6/22/2012 the number stands at 387,166 Million Barrels in US Storage facilities, way above the five-year range. (See Chart Below)  

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29 Jun 2012 – ” One Step Beyond ” (Madness, 1979)

Courtesy of ZeroHedge. View original post here.

Submitted by AVFMS.

Understands who can… The Brussels nightly drama yielded first tweeted “results”, then none, then yes. Then some bickering, Southern drama, then truce. Then they still were not done haggling.

In any case, first white smoke signals 30 minutes ahead of the US close managed to turn around the equity market sharply by over 1%, leading to an only mild negative close. Asian stocks up 1.5% as a whole, leaving Q1 behind and heading into the weekend. Overnight data showing stable CPI and employment figures in Japan, but disappointing IP readings slowing to 6.2% YoY (fcst 6.7% after 12.9%. Don’t forget the Fukushima base effect, here) and PMI slipping just below the 50 mark at 49.9 after 50.7, its weakest reading since Dec 2011.

Roaring ROn start in Europe with equities gapping up 3%, Core EGBs wider by a good 15bp. Italy and Spain tighter by 40 and 50 bp respectively in 10s, taking BTPs back through 6% and BONOs through 6.50%. The effect was even more explosive in 2s, down by 70 bp and 85bp, taking the latter respectively back to the 3.75% and 4.50% area. Then again, it’s certainly a big move, but on second thought these remain HIGH yields.

Main and Financials tighter by 10 and 20. Tamer commodities reaction with 1.5%-2% upswing. EUR out to the 26 handle.

German Retail Sales hit hard in May and at -1.1% YoY a huge miss of the +1.9% forecast. Previous data was as well revised lower from -3.8% to -4.3%. Same picture on a MoM basis at -0.3%

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Mainstream Economics is a Cult

Courtesy of ZeroHedge. View original post here.

Submitted by George Washington.


Neoclassical Economics Is Based on Myth

Neoclassical economics is a cult which ignores reality in favor of shared myths.

Economics professor Michael Hudson writes:

[One Nobel prize winning economist stated,]  “In pointing out the consequences of a set of abstract assumptions, one need not be committed unduly as to the relation between reality and these assumptions.”


This attitude did not deter him from drawing policy conclusions affecting the material world in which real people live….


Typical of this now widespread attitude is the textbook Microeconomics by William Vickery, winner of the 1997 Nobel Economics Prize:

“Economic theory proper, indeed, is nothing more than a system of logical relations between certain sets of assumptions and the conclusions derived from them… The validity of a theory proper does not depend on the correspondence or lack of it between the assumptions of the theory or its conclusions and observations in the real world.  A theory as an internally consistent system is valid if the conclusions follow logically from its premises, and the fact that neither the premises nor the conclusions correspond to reality may show that the theory is not very useful, but does not invalidate it. In any pure theory, all propositions are essentially tautological, in the sense that the results are implicit in the assumptions made.”

Such disdain for empirical verification is not found in the physical sciences."Our models show there is no chance of water"

Neoclassical economists created the mega-banks, thinking that bigger was better.  They pretend that it's better to help the big banks than the people, debt doesn't existhigh levels of leverage are good, artificially low interest rates are fine, bubbles are great, fraud should be covered up, and insolvent institutions propped up.

Indeed, even after a brief period of questioning their myths – after the 2008 economic crisis proved their core assumptions wrong – they have quickly regressed into their old ways.

 Government Economic Leaders Surprised that Real World Isnt Responding to their Magic Pixie Dust

Economics professor Steve Keen notes:

Neoclassical economics has become a religion.  Because

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Guest Post: Whitewashing The Economic Establishment

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by John Aziz of Azizonomics

Whitewashing The Economic Establishment

Brad DeLong makes an odd claim:

So the big lesson is simple: trust those who work in the tradition of Walter Bagehot, Hyman Minsky, and Charles Kindleberger. That means trusting economists like Paul Krugman, Paul Romer, Gary Gorton, Carmen Reinhart, Ken Rogoff, Raghuram Rajan, Larry Summers, Barry Eichengreen, Olivier Blanchard, and their peers. Just as they got the recent past right, so they are the ones most likely to get the distribution of possible futures right.

Larry Summers? If we’re going to base our economic policy on trusting in Larry Summers, should we not reappoint Greenspan as Fed Chairman? Or — better yet — appoint Charles Ponzi as head of the SEC? Or a fox to guard the henhouse? Or a tax cheat as Treasury Secretary? Or a war criminal as a peace ambassador? (Yes — reality is more surreal than anything I could imagine).

The bigger point though, as Steve Keen and Randall Wray have alluded to, is that DeLong’s list is the left-wing of the neoclassical school of economics — all the same people who (to a greater or lesser extent) believed that we were in a Great Moderation, and that thanks to the wonders of modernity we had escaped the old world of depressions and mass unemployment. People to whom this depression — judging by their pre-2008 output — was something of a surprise.

Now the left-wing neoclassicists may have done less badly than the right-wing neoclassicists Fama, Cochrane and Greenspan, but that’s not saying much. Steve Keen pointed out:

People like Wynne Godley, Ann Pettifors, Randall Wray, Nouriel Roubini, Dean Baker, Peter Schiff and I had spent years warning that a huge crisis was coming, and had a variety of debt-based explanations as to why it was inevitable. By then, Godley, Wray and I and many other Post Keynesian economists had spent decades imbibing and developing the work of Hyman Minsky.

To my knowledge, of Delong’s motley crew, only Raghuram Rajan was in print with any warnings of an imminent crisis before it began.

DeLong is, in my view, trying to whitewash his contemporaries who did not see the crisis coming, and inaccurately trying to associate them with Hyman Minsky whose theory of
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Phil's Favorites

Why are Atlantic and Gulf coast property owners building back bigger after hurricanes?


Why are Atlantic and Gulf coast property owners building back bigger after hurricanes?

Surf threatens beach houses on Dauphin Island, Alabama, September 4, 2011 during Tropical Storm Lee. AP Photo/Dave Martin

Courtesy of Eli Lazarus, University of Southampton and Evan B. Goldstein, University of North Carolina – Greensboro

U.S. coastal counties are densely populated and extensivel...

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Zero Hedge

Russian And South Korean Fighter Jets Face Off In "Mid-Air Confrontation"

Courtesy of ZeroHedge. View original post here.

For the first time since the fall of the Soviet Union, Russian jets flying through South Korean airspace provoked the South Korean military into a "midair confrontation" that involved firing hundreds of warning shots. All told, South Korean jets fired 360 machine-gun rounds and at least 20 flares, Bloomberg reports.

Three Russian military planes (two Tu-95 bombers and one A-50 airborne early warning and control aircraf...

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Insider Scoop

The Daily Biotech Pulse: Acadia Schizophrenia Drug Fails, Viveve Plummets, Eisai Gets Breakthrough Therapy Designation

Courtesy of Benzinga.

Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peaks

(Biotech stocks hitting 52-week highs on July 22)

  • Acasti Pharma Inc (NASDAQ: ACST)
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Kimble Charting Solutions

Is Crude Oil Sending a Bearish Message to the Stock Market?

Courtesy of Chris Kimble.

Crude Oil (NYSEARCA: USO) and the S&P 500 Index (INDEXSP: .INX) have peaked and bottomed together several times in the past 9 months. See points (1) and (2) on the chart above.

In summary, the correlation between Oil and the stock market has been quite interesting and demands investors attention.

Crude Oil has been creating lower highs of late and is breaking price support at (3).

If the correlation remains the same, Crude Oil may very well be sending a bearish message to stocks.

Tricky spot for active investors – careful here.


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Chart School

RTT Plus Chart Book (Sneak Peak)

Courtesy of Read the Ticker.

The magic of support and resistance channel lines and how they direct price. Here are some chart disclosed to members via the RTT Plus service. All charts are a few weeks old. 

XAU bound by parallel channel lines.

Click for popup. Clear your browser cache if image is not showing.

Newmont Mining support from Gann Angles.

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US Dollar index (DXY) dominate cycle ...

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Digital Currencies

Cryptos Suddenly Panic-Bid, Bitcoin Back Above $10k

Courtesy of ZeroHedge. View original post here.

Following further selling pressure overnight, someone (or more than one) has decided to buy-the-dip in cryptos this morning, sending Bitcoin (and most of the altcoins) soaring...

A sea of green...

Source: Coin360

Bitcoin surged back above $10,000...

Ethereum bounced off suppo...

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DNA testing companies offer telomere testing - but what does it tell you about aging and disease risk?

Reminder: We're is available to chat with Members, comments are found below each post.


DNA testing companies offer telomere testing – but what does it tell you about aging and disease risk?

A telomere age test kit from Telomere Diagnostics Inc. and saliva. collection kit from 23andMe. Anna Hoychuk/

Courtesy of Patricia Opresko, University of Pittsburgh and Elise Fouquerel, ...

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Professor Shubha Ghosh On The Current State Of Gene Editing


Professor Shubha Ghosh On The Current State Of Gene Editing

Courtesy of Jacob Wolinsky, ValueWalk

ValueWalk’s Q&A session with Professor Shubha Ghosh, a professor of law and the director of the Syracuse Intellectual Property Law Institute. In this interview, Professor Ghosh discusses his background, the Human Genome Project, the current state of gene editing, 3D printing for organ operations, and gene editing regulation.


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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...

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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism


The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...

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Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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Free eBook - "My Top Strategies for 2017"



Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:


·       How 2017 Will Affect Oil, the US Dollar and the European Union


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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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