Archive for April, 2015

One Bubble at a Time: 3D-Printing Stocks Implode

By Wolf Richter at Testosteronepit (see also www.amazon.com/author/wolfrichter)

3D printing popped on the scene a few years ago, and soon it was everywhere. The media were raving about it. Companies were formed and attracted VC money, and the hype bloomed, and soon IPOs of even the tiniest outfits flew off the shelf in the US and Europe. Valuations soared, and everyone was in heaven. Even The Economist jumped on the bandwagon with its article, “A Third Industrial Revolution.” A new world had begun.

But not everyone was a true believer. Among these unwelcome detractors and party poopers was Terry Gou, founder and president of Foxconn, one of world’s largest electronics manufacturing companies. It makes the iPhone and other gadgets. In June 2013, when the Taiwanese media pushed him on 3D printing, he retorted, “3D printing is a gimmick” with no “real commercial value.”

Foxconn has been using 3D printing for nearly 30 years, he said. But the technology wasn’t suitable for mass production. You could print a phone, he said, but it would be a useless phone because the technology could not assemble electronic components. That process still required humans or specialized machines.

The modernization of 3D printing didn’t mean “the advent of a third industrial revolution,” he said, debunking The Economist. It was just one of many useful technologies.

His insights were too mundane for the money that went looking for a spiritual place to go. Terry Gou, ultimate industry insider, was ignored (even though I wrote about it at the time, ha!). And valuations skyrocketed.

But at the end of 2013, the phenomenal bubble began to hiss hot air. And since then, it has been tough.

On Wednesday, Stratasys (SSYS), the largest player in the space, warned on revenues and earnings, after having already warned three months ago. For the year, it now expects revenues of $800 million to $860 million. Analysts expected $943 million. Its loss, stuffed with all kinds of write-offs, could reach $245 million, or $4.79 per share. It would be twice as large as its loss in 2013 and 10 times larger than its loss in 2012.

It blamed the “decline in relevant capital spending… particularly in North America”; “a slower…
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Baltimore As A Microcosm Of America

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Screen Shot 2015-04-30 at 10.25.59 AM

In these drug-saturated neighborhoods, they weren’t policing their post anymore, they weren’t policing real estate that they were protecting from crime. They weren’t nurturing informants, or learning how to properly investigate anything. There’s a real skill set to good police work. But no, they were just dragging the sidewalks, hunting stats, and these inner-city neighborhoods — which were indeed drug-saturated because that’s the only industry left — become just hunting grounds. They weren’t protecting anything. They weren’t serving anyone. They were collecting bodies, treating corner folk and citizens alike as an Israeli patrol would treat Gaza, or as the Afrikaners would have treated Soweto back in the day. They’re an army of occupation. And once it’s that, then everybody’s the enemy. The police aren’t looking to make friends, or informants, or learning how to write clean warrants or how to testify in court without perjuring themselves unnecessarily. There’s no incentive to get better as investigators, as cops.

– From the excellent Marshall Project article: David Simon on Baltimore’s Anguish

Baltimore, Maryland is in many ways the perfect microcosm for these United States of America. If you still don’t get that, you’ll be in for a rude awakening in the years ahead.

A gradual erosion of the Constitution and the civil rights of the citizenry, the abuse of power by people in authority, perverse financial incentives that lead to horrible outcomes, zero accountability, and a ubiquitous surveillance state apparatus; Baltimore has it all. Yet all of these troubling traits have also come to characterize early 21st century America.

As tends to be the case, the populations that have been victimized the longest and most systemically — in Baltimore and across the U.S. — are the poor, weak and disenfranchised.  Like a cancer, corruption, theft, and blatant abuse of the citizenry by the powerful will spread and spread until it consumes everything unless the tumor is removed. It has now spread so deeply and so dangerously throughout American life, the general public will soon have no choice but to confront it and do something about it, or face a total extinction of opportunity and suffer the same desperate fate as the people out in the streets of Baltimore.

David Simon, creator of the excellent hit HBO series “The Wire,” recently sat down for…
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LinkedIn Mania Over? Shares Plunge 21% After Hours on Earnings Miss

Courtesy of Mish.

It's tough predicting the end to manias. Tonight I ponder a 21% plunge in extended hours trading in LinkedIn. Is the mania over?

Please consider LinkedIn Plunges as Second-Quarter Forecast Misses Estimates.

LinkedIn Corp.’s shares plunged as much as 27 percent after the company delivered quarterly revenue that missed analysts’ estimates for the first time, shaking confidence in a historically stable business plan.

The professional-networking website also forecast sales that missed projections for the second quarter and cut its guidance for annual revenue, citing the strong U.S. dollar and slower-than-predicted growth.

“This is an extraordinary miss for a company that has by and large avoided any major blowups since going public,” said Paul Sweeney, an analyst at Bloomberg Intelligence.

Since its debut as a public company in 2011, LinkedIn has steadily surpassed estimates for sales until now. The company, with its mix of job-related tools for consumers and businesses, has been expanding its offerings every year under Chief Executive Officer Jeff Weiner, through acquisitions and rapid hiring. Those efforts aren’t translating to as much revenue growth as expected, Sweeney said.

Second-quarter revenue will be $670 million to $675 million, the company said Thursday. Analysts had predicted $718.3 million, on average, according to data compiled by Bloomberg. LinkedIn also trimmed its forecast for annual revenue to $2.9 billion, from $2.93 billion to $2.95 billion.

The company’s shares fell 21 percent in extended trading, after dropping 2 percent to close at $252.13. The stock had gained 9.7 percent this year.

Profit excluding some items was $73 million, or 57 cents a share, matching analysts' predictions. LinkedIn’s net loss widened to $42.5 million, or 34 cents a share, from $13.4 million, or 11 cents.

Mania in Pictures

Blame Game

LinkedIn blamed the plunge on strength in the US dollar. It generates 39% of its revenue outside the US.

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One More Reason Why The Student Debt Bubble Is About To Get A Lot Larger

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

In “The Treasury’s Worst Case Scenario: Over $3.3 Trillion In Student Loans In A Decade,” we presented the following rather disturbing graphic which shows that in the event unemployment “edges up” after 2017 and the gap between unemployment and underemployment doesn’t narrow between now and then, the size of the government’s direct loan program will balloon to $3.3 trillion by 2025.

Based on the real delinquency rate for student borrowers — which, as we have shown on dozens of occasions, is around 30% — some $1 trillion in student loans will be on their way to default in the space of 10 years, and that number could be much higher depending on how many former students opting to enroll in IBR payment plans end up with calculated payments of zero due to their financial circumstances. Note also that extrapolating from “delinquent” to “default” isn’t as much of a stretch as it once was and is in fact becoming less of a stretch by the year because we pointed out earlier this month, the percentage of borrowers delinquent by 90 days or less who eventually make a payment is falling steadily

With tuition rates rising by a staggering 24% every five years, just about the last thing the government (and by extension, the taxpayer) needs is another reason to suspect that the student debt bubble is going to start growing even faster than it already is. Unfortunately, new evidence suggest that just might be the case. 

Via WSJ:

Parents are having a harder time saving for college, a report released Wednesday shows.

Fewer American parents are saving for college and the average sum that families who are saving have accumulated to pay college costs has fallen, according to a report by the country’s largest private student-loan lender SLM Corp., better known as Sallie Mae, and market-research company Ipsos Public Affairs.

Forty-eight percent of parents with children under age 18 are saving for college this year, down from 51% last year and a peak of 62% in 2009, the report says. On average, those families that are saving have $10,040 set aside for college, down 25% from $13,408 in 2014.

The findings come as college costs continue to rise. The average annual cost of tuition, fees and room and board at private nonprofit


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The War On Cash: Transparently Totalitarian

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Nick Giambruno via Doug Casey's International Man blog,

George Orwell once wrote “If you want a picture of the future, imagine a boot stamping on a human face—forever.”

Not exactly a cheery thought, and one I don’t agree with.

While the forces pushing for centralization of power have been prevailing for decades, they haven’t won a total victory yet. Technologies that empower the individual and that tend toward decentralization—including the Internet, encryption, 3D printing, and cryptocurrencies—offer a powerful ray of hope, reasons to be optimistic about the future.

So the tug of war between the collectivists and the rest of us continues.

One thing that would tip the scales heavily in favor of the collectivists would be victory in the War on Cash. Their goal is to eliminate the use of hand-to-hand currency, so that governments can document, control, and tax everything.

It’s exactly like what Ron Paul said: “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.”

One way they are waging the War on Cash is to lower the threshold at which reporting a cash transaction is mandatory or at which paying in cash is simply illegal. In just the last few years…

  • Italy made cash transactions over €1,000 illegal;
  • Switzerland has proposed banning cash payments in excess of 100,000 francs;
  • Russia banned cash transactions over $10,000;
  • Spain banned cash transactions over €2,500;
  • Mexico made cash payments of more than 200,000 pesos illegal;
  • Uruguay banned cash transactions over $5,000; and
  • France made cash transactions over €1,000 illegal, down from the previous limit of €3,000.

I recently spoke about this with Dr. Joe Salerno, an Austrian economist with the Mises Institute. Joe is the best chronicler of the global War on Cash and is here to offer an Austrian rebuttal to the economic nonsense peddled by advocates of this war.

I am happy to bring you his informed insight.

Until next time,

*  *  *  *

Nick Giambruno: What is the War on Cash?

Joe Salerno: The War on Cash is the attempt by governments to phase cash out of their economies. Governments hate cash because they hate the financial privacy cash makes possible. And they prefer…
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Saudis, Russians No Longer Buying Gold In Dubai As Oil Slump Curbs Precious Metals Shopping

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Over the course of the oil price slump we’ve documented the far-reaching effects of falling crude. Leaving aside the capital markets for now, the downturn has rippled through oil boom towns both in the US and Canada. Take Fort McMurray (in oil-rich Alberta) for instance, where home sales fell 66% in February or Sidney, Montana where the collapse in oil revenue has left law enforcement and schools strapped for cash in the face of rising crime and crumbling infrastructure. Then there is of course Texas which, until recently, was America’s job creation engine but which shed a recession-like 24,500 non-farm jobs in March alone. 

Blue collar workers in North America aren’t the only one’s feeling the pain however. Sliding crude has also taken its toll on precious metals vendors in Dubai whose customer base is drying up now that fewer Saudis and Russians are going on gold shopping sprees in the country’s Dubai Gold Souk marketplace. 

Here’s Bloomberg:

Under streets and alleys covered by roofs to protect window shoppers from the intense desert sun, more than 300 stores peddle everything from ingots to Bedouin jewelry. The Dubai Gold Souk had become one of the largest such marketplaces, offering tax-free precious metal, as Persian Gulf oil wealth ballooned in the past few decades.

Now, with the plunge in crude throttling economies across the Middle East, gold buyers are harder to find. Demand for the metal is slowing in the region and Dubai has seen a drop-off in some visitors. Shopkeepers say sales are declining because tourists from Saudi Arabia and Russia have less cash to spend. Sellers offer discounts for gold that two years ago fetched a premium.

“The market is dead,” Jeffrey Rhodes, who has spent 27 years in Dubai’s gold industry and founded Rhodes Precious Metals Consultancy DMCC, said by telephone on April 21. “There’s no real demand here”…

Even with fewer shoppers in the market, which rose to prominence in the 1940s and is spaced across two buildings as high as six floors, Dubai is still a major trading hub. The weight of all the gold jewelry on display comes to about 25 metric tons, the same as five Indian elephants, according to an association representing the vendors.

Shopping trips from the Middle East “are fewer and shorter, and they


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“Purge” Night 4: Baltimore Quiet As Tensions Rise In Philadelphia – Live Feed

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

A heavy National Guard presence and a draconian curfew have ended the rioting in Baltimore, but, as RT reports, the popular uprising against police brutality has spread across the US. Peaceful protests are taking place in Baltimore and several major cities and on the heels of last night's New York City protests, tonight it is Philadelphia that is seeing clashes between police and civilians…

As Fox29 reports,

Protesters organized a demonstration at Philadelphia's City Hall to draw parallels between the death of a man shot during a traffic stop and a death in police custody that sparked riots in Baltimore. The protesters are currently at Broad and Vine Expressway. Protesters are currently trying to get on Vine Street Expressway. According to FOX 29's Dave Kinchen the march is no longer peaceful and fights are breaking out.

Organizers of the "Philly is Baltimore" Demonstration compare the December shooting death of Brandon Tate-Brown in Philadelphia to the April 19 death of Freddie Gray in Baltimore.

The district attorney isn't pressing charges in Tate-Brown's death, saying evidence indicates that he was reaching into his car for a loaded pistol. A lawsuit filed Tuesday alleges that officers planted the gun. Police say city lawyers will respond in court.

*  *  *

Live Feed:

Broadcast live streaming video on Ustream

*  *  *


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The Pentagon’s “Long War” Pitches NATO Against China, Russia, & Iran

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Authored Op-Ed by Pepe Escobar, originally posted at SputnikNews.com,

Whatever happens with the nuclear negotiations this summer, and as much as Tehran wants cooperation and not confrontation, Iran is bound to remain – alongside Russia – a key US geostrategic target.

As much as US President Barack Obama tried to dismiss it, the Russian sale of the S-300 missile system to Iran is a monumental game-changer. Even with the added gambit of the Iranian military assuring the made in Iran Bavar 373 may be even more efficient than the S-300.

This explains why Jane's Defense Weekly was already saying years ago that Israel could not penetrate Iranian airspace even if it managed to get there. And after the S-300s Iran inevitably will be offered the even more sophisticated S-400s, which are to be delivered to China as well.

The unspoken secret behind these game-changing proceedings actually terrifies Washington warmongers; it spells out a further frontline of Eurasian integration, in the form of an evolving Eurasian missile shield deployed against Pentagon/NATO ballistic plans.
 
A precious glimpse of what's ahead was offered at the Moscow Conference on International Security (MICS) in mid-April.
 
Here we had the Iranian Defense Minister, Brigadier-General Hussein Dehghan, openly stating that Iran wanted BRICS members China, India, and Russia to jointly oppose NATO's uncontrolled eastward expansion, and characterizing NATO's for all practical purposes offensive missile shield as a threat to their collective security.
 
We also had Russian Defense Minister Sergey Shoigu and Chinese Defense Minister Chang Wanquan emphasizing their military ties are an "overriding priority"; plus Tehran and Moscow stressing they're strategically in synch in their push towards a new multipolar order. 
 
Tearing up the New Iron Curtain
 
Washington's Maidan adventure has yielded not only a crystallization of a new Iron Curtain deployed from the Baltics to the Black Sea. This is NATO's visible game. What's not so visible is that the target is not only Russia, but also Iran and China.
 
The battlefield is now clearly drawn between NATO and Russia/China/Iran. So no wonder they are getting closer. Iran is an observer at the CSTO (Collective Security Treaty Organization) and is bound to become a member of the SCO (Shanghai Cooperation Organization) by 2016.

Russia providing S-300 systems to Iran; S-400 systems to China (with new, longer-range guided missiles); and developing the S-500 systems, which are capable of intercepting supersonic targets, for itself, all point to an ultra high-tech counterpunch. And NATO knows it.

This budding


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Is Your State Racist?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With the topic of racial division increasingly top of mind in America, The Washington Post reports a new study suggests that the rural Northeat and South are the most racist regions of America. The study, based on Goggle searches for race-related phrases, shows racist people in the U.S. appear to be clustered along the Appalachian Mountains from Georgia, through New York and all the way up to Vermont.

Think Google Searches for the “n-word” are irrelevant? Think again…

“Results from our study indicate that living in an area characterized by a one standard deviation greater proportion of racist Google searches is associated with an 8.2% increase in the all-cause mortality rate among Blacks,” the authors conclude.

Other hotbeds of racist searches appear in areas of the Gulf Coast, Michigan’s Upper Peninsula, and a large portion of Ohio.

Perhaps on a bright note,

But the searches get rarer the further West you go.

West of Texas, no region falls into the “much more than average” category.

So America could be less divided that some think… perhaps.





First Blythe Masters, Now Goldman Investing In Bitcoin

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

When Bitcoin first appeared, its proponents valiantly claimed that the revolutionary new digital currency was nothing more than a modernized version of a legacy non-fiat currency such as gold or silver, one which would allow global transactions seamlessly and without tracking by monetary authorities, but one which was more convenient than gold as one would never actually have to hold it – the “bitcoin” could be stored safely in virtual vaults that could be accessed anywhere in the world. Most importantly, it would be a libertarian statement of non-compliance with the fiat status quo.

Then MtGox happened and “unexpectedly” thousands of Bitcoin users found out they had been corzined, and their digital “money” – which supposedly was tracable – had disappeared forever.

Of course, fraud happens, so this humiliating incident to what was once the biggest bitcoin exchange was promptly brushed off.

But when a little over a month ago we reported that none other than former head of JPM’s commodities head, Blythe Master, had reemerged from the shadows as chief executive of the Bitcoin startup Digital Asset Holdings, then all those who valiantly clung to the belief that Bitcoin is some aspiration to a libertarian, anti-status quo contrarianism, were promptly quieted.

As the FT reported then, the startup aims to be a venue for buyers and sellers of financial assets to meet and transact, switching currencies into bitcoin in order to cut the cost and time of settlement and make use of the decentralised “block chain” as a secure record of transactions.”

There is a school of libertarian ‘visionaries’ who want to imagine a world without big banks, big governments,” said Ms Masters, who left JPMorgan last April. “That’s nice, but completely irrelevant to this business model. We don’t imagine a world in which big banks and big governments don’t exist.”

“They say they want the world to change, but the world will change by adopting new technology to do a better job,” she said. Reducing the frictional costs of financial transactions is “one of the great challenges of our time”.

She was right.

And just to hammer the point that Bitcoin has become the playground of precisely those who also control fiat money in all its infinitely dilutable permutations, earlier today we learned thart Goldman Sachs…
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Zero Hedge

Explosion Hits Russia's Largest Virus Lab Which Houses Plague, Smallpox, Ebola And Other Deadly Viruses

Courtesy of ZeroHedge View original post here.

A sudden explosion at a Siberian virus research center on Monday reportedly left the facility engulfed in flames, according to several Russian news outlets. 

Firefighters and other emergency personnel were dispatched to the "Vector Institute" located several miles from Novosibirsk - an emergency which was upgraded "from an ordinary emergency to a major incident," a...



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Phil's Favorites

The future of work will still include plenty of jobs

 

The future of work will still include plenty of jobs

Even though the future is unknown, Canada’s employment rate has risen steadily from 53 per cent in 1946 to more than 61 per cent today. (Shutterstock)

Courtesy of Wayne Simpson, University of Manitoba

There is now widespread anxiety over the future of work, often accompanied by calls for a basic income to protect those displaced by automation and other technological changes.

As a labour economis...



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Lee's Free Thinking

Is The Drone Strike a Black Swan?

Courtesy of Lee Adler

Pundits are calling yesterday’s drone strke a “black swan.” Can a drone strike on a Saudi oil facility, be a “black swan.”

According to Investopedia:

A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, their severe impact, and the practice of explaining widespread failure to predict them as simple folly in hindsight.

I seriously doubt that no one expected or could have predicted a drone strike on a Saudi oil facility.

Call Me A B...

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Insider Scoop

New Relic Cuts 2020 Sales Guidance, Announces Changes In Management

Courtesy of Benzinga

New Relic (NYSE: NEWR) has reaffirmed its second-quarter guidance and cut its sales guidance for fiscal year 2020 from $600 million-$607 million to $586 million-$593 million.

The company’s chief technology officer, Jim Gochee, and chief revenue officer, Erica Schultz, have resigned. New Relic also named board member Michael Christenson as its chief operating officer. Christenson joins from his ...



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The Technical Traders

Metals are following downside sell off prediction before the next rally

Courtesy of Technical Traders

It is absolutely amazing how the precious metals markets have followed our October 2018 predictions almost like clockwork.  Our call for an April 21~24 momentum base below $1300 followed by an extensive rally to levels above $1550 has been playing out almost like we scripted these future price moves.

Now that the $1550 level has been reached, we are expecting a rotation to levels that may reach just below the $1490~1500 level before attempting to set up another momentum base/bottom formation.  And just like clockwork, Gold has followed our predictions and price is falling as we expected. Just look at our October 2018 chart where we forecasted the price of gold...



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Chart School

Crude Oil Cycle Bottom aligns with Saudi Oil Attack

Courtesy of Read the Ticker

Do the cycles know? Funny how cycle lows attract the need for higher prices, no matter what the news is!

These are the questions before markets on on Monday 16th Aug 2019:

1) A much higher oil price in quick time can not be tolerated by the consumer, as it gives birth to much higher inflation and a tax on the average Joe disposable income. This is recessionary pressure.

2) With (1) above the real issue will be the higher interest rate and US dollar effect on the SP500 near all time highs.

3) A moderately higher oil price is likely to be absorbed and be bullish as it creates income for struggling energy companies and the inflation shock may be muted. 

We shall see. 

...

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Kimble Charting Solutions

Bond Yields Due For Rally After Declining More Than 1987 Stock Crash

Courtesy of Chris Kimble

U.S. Treasury Bond Yields – 2, 5, 10, 30 Year Durations

The past year has seen treasury bond yields decline sharply, yet in an orderly fashion.

This has spurred recession concerns for much of 2019. Needless to say, it’s a confusing time for investors.

In today’s chart of the day, we look at a longer-term view of the 2, 5, 10, and 30-year treasury bond yields.

Short to long term bond yields are all testing 7 to 10-year support levels as momentum is at the lowest levels in a decade.

A yield rally is likely due across the board after a recent decline that was bigger than the stock crash in 1987!

If yields fail to ral...



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Digital Currencies

China Crypto Miners Wiped Out By Flood; Bitcoin Hash Rate Hits ATHs

Courtesy of ZeroHedge View original post here.

Last week, a devastating rainstorm in China's Sichuan province triggered mudslides, forcing local hydropower plants and cryptocurrency miners to halt operations, reported CoinDesk.

Torrential rains flooded some parts of Sichuan's mountainous Aba prefecture last Monday, with mudslides seen across 17 counties in the area, according to local government posts on Weibo. 

One of the worst-hit areas was Wenchuan county, ...



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Biotech

The Big Pharma Takeover of Medical Cannabis

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

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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Promotions

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.

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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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