Archive for 2016

The Global Bear Market In Freedom

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Erico Matias Tavares via Sinclair & Co.,

Americans will be celebrating Memorial Day this weekend, to honor those who fought and died for the values they have traditionally cherished the most as a nation: life, liberty and the pursuit of happiness.

The world has changed dramatically in recent decades. The geopolitical situation is much more complex, with rising powers challenging America’s supremacy. The intractable war on terror seems interminable. Old foes appear to spring back to life even more powerful than before. And things at home look dicey in terms of politics and economics.

As we reflect upon the ultimate sacrifice that others have made‎, it is an opportune moment to consider a very important question: is the US winning the fight for freedom?

More than other dictatorial regimes, “totalitarianism” represents the opposite of everything America is supposed to stand for. For most people it conjures images of a repressive leader and his minions having total control of a society with very limited freedoms. That’s not too far off from reality, but there’s more to it and a process to get there.

The term was first coined by Giovanni Amendola in 1923 to describe the emergence of Italian fascism (which was different from other dictatorships). However, it only gained traction in academic research during the 1960s largely based on the work of political scientists Carl Friedrich and Zbigniew Brzezinski. They reformulated the definition to account for the Soviet Union as well as the fascist regimes of the 20th century, where a totalitarian system featured the following mutually-supportive defining characteristics:

  1. An elaborate guiding ideology;
  2. A single mass party, typically led by a dictator;
  3. A system of terror, using such instruments as violence and secret police;
  4. A state monopoly on weapons;
  5. A state monopoly on the means of communication; and
  6. Central direction and control of the economy through state planning.

As far as we can tell this definition has not been materially updated since it was first proposed, perhaps because the topic has lost academic interest following the collapse of the Soviet Union. One critique is that many totalitarian regimes do not exhibit all these characteristics at‎ the same time, and not with the same intensity. Initially they may even be welcomed and perceived as necessary by the general population, only to…
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Trickle-Down Crash? Trophy Assets Suddenly Tanking

Courtesy of John Rubino.

One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99%.

And now it’s ending. Falling oil prices and negative interest rates (rich people own a lot of government bonds) seem to have sucked the animal spirits out of the 1%, leading to stories like this:

A Worrisome Pileup of $100 Million Homes

(New York Times) – One of the latest symbols of the overinflated luxury housing market is a pink mansion perched above the Mediterranean on the French Riviera.

The 13,000-square-foot property, built and owned by the fashion magnate Pierre Cardin, is composed of giant terra cotta orbs arranged in a sprawling hive. The home’s name befits its price. “Le Palais Bulles,” or “the Bubble Palace,” is being offered for sale at approximately $450 million.

The listing is part of a global pileup of homes listed for $100 million or more. A record 27 properties with nine-figure prices are officially for sale, according to Christie’s International Real Estate. That is up from 19 last year and about a dozen in 2014.

If you add in high-priced “whisper listings” that are offered privately, brokers say the actual number of nine-figure listings worldwide could easily top 40 or 50.

Continue here >

And this…

Trophy Corporate Jets Were All the Rage, Until They Weren’t

(Bloomberg) – The private jet Janine Iannarelli is selling for a Russian client has leather seats, wood paneling, a satellite phone and can fly nonstop from Tokyo to Los Angeles. The price has dropped $3 million since September and is still falling.

Iannarelli today is hawking the 10-year-old Bombardier Global 5000 for $14.5 million but recommends that her client cut the price further as the market for large-cabin business jets keeps weakening. A new Global 5000 lists for $50.4 million.

“There’s absolutely no evidence of a recovery on the horizon,” says Iannarelli, founder


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Libertarian Party Chairman Candidate Strips To His Underwear On Stage

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

While badly needing an alternative to the fake left-right division plaguing US society, Americans will not get a much needed, credible libertarian “third choice” for at least another year. Here’s why.

Earlier today, the Libertarian Party nominated former New Mexico Gov. Gary Johnson and former Massachusetts Gov. William Weld as its presidential ticket Sunday, as the party attempts to elevate itself into the mainstream during an election that’s given the small party unprecedented opportunity. Unfortunately, “taking itself into the mainstream” was just not meant to be for a party that earlier today saw a candidate for chairman strip to his underwear and give the entire convention a striptease.

The pair, both two-term governors, have more executive experience than any other candidate in the race, and they will offer an alternative to two historically unpopular candidates, presumptive Republican nominee Donald Trump and Democratic front-runner Hillary Clinton.

“This is the best message team going forward,” Johnson, the Libertarians’ presidential nominee, told reporters after Weld won the vice presidential nomination.

And, as NBC reports, it all came to be in a contested convention. After endless speculation that the Republican Party’s divided primary might end in a contested convention in Cleveland and continued theories that the Democrats’ primary could end in Philadelphia with a floor battle between party insiders, 2016 finally had a contested convention, in Orlando. 

Johnson won on the second ballot after falling short of a majority by just a few votes — getting 49.5 percent — on the first. However, unlike the democratic or republican races, there were no superdelegates who will make all the difference.

Unfortunately, it is here that things took a turn for the bizarre. The tense hour between ballots left candidates scheming and delegates making floor deals and chanting for and against candidates. It was the kind of drama political reporters had previously only dreamed about.

While Johnson locked down enough votes on the second ballot, the drama was far from finished Sunday. Libertarians also allow their party to choose the vice presidential nominee, and Johnson’s chosen running mate — Weld — is not a party favorite, as many question whether he’s really a Libertarian. It didn’t help that he endorsed Ohio Gov. John Kasich for the Republican presidential nomination earlier in the…
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China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

We got an early hint of what the PBOC would do tonight on Friday and Saturday, when as we reported, an unprecedented volume burst of bitcoin buying out of China, sent the digital currency soaring to the highest level since 2014.

To be sure, we had expected sailing would not be smooth for the FX market, when on Friday afternoon, after Yellen’s’ unexpectedly hawkish comments at Harvard, which sent the USD surging, we predicted a stormy sea for the Monday Yuan fix:

CNY will be interesting on Sunday night

— zerohedge (@zerohedge) May 27, 2016

That is precisely what happened when moments ago the PBOC set the official exchange rate of the onshore Yuan lower by nearly 0.5%, from 6.5490 to 6.5794, the lowest fixing in more than 5 years, or February 2011.

Which brings us to a post we wrote last Wednesday, when according to Daiwa, “Round Two Of China Capital Outflows Is About To Begin.” The highlights:

As Kevin Lai, HK-based chief economist of Asia ex-Japan at Daiwa Capital Markets writes in note released overnight, round two of China capital outflows is about to begin, if second half last year was considered the first round. This is what he believes will happen next:

  • China’s FX reserves may fall below $2t in about a year
  • Downward pressure on FX reserves is most likely to be underestimated as short-term speculative flows are far more ready to leave than real flows
  • Based on estimates, about 49% of PBOC’s FX reserves are made up of flows which are speculative and short-term in nature
  • Expects decline in FX reserves to be more rapid in next 24 months at least
  • Look for further $500b decline to $2.7t by end-2016 and a further $900b decline to $1.7t by end-2017
  • If companies, especially SOEs, face trouble paying back creditors, central government would bail them out
  • Massive bailouts would require government’s monetary policy to turn a lot more aggressive, putting more pressure on yuan
  • Policymakers would have to seriously think about letting CNY slide gradually to a better equilibrium level

His conclusion: the USD/CNY will hit 7.50 by end-2016, some 15% higher than where it is now.

Then again, also today Goldman chimed in
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“This Is Not The America My Parents Immigrated To In 1957″

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by ‘Stucky’ via The Burning Platform blog,

Not that I remember what America was like in 1957, as I was not yet five years old. Years later, when I was old enough to understand, they told me their story. Briefly, it goes like this.

Dad was born in Romania (Czernowitz in Northern Bulovina), but he identified (haha) as German because, well, his dad was German, his mom was German, they spoke German and kept German customs, and lived in a German community so, applying the “quacking duck” theory, that’s what he was. Mom was born in Yugoslavia (now, Slovenia), but she identified as German for the same reasons as dad did. The Nazi regime would refer to folks such as my parents as “Volksdeutsche” —- being German as a people or race, regardless of citizenship. More on that  here.

When dad was about seventeen the Deutsche Wehrmacht (army) made a pit stop in his neck of the woods, and forcibly yanked his ass off the farm, and within a few weeks turned him into a bonafide Mortarman (dudes who launch grenades). He might have destroyed or damaged a Russkie tank or two, but was eventually captured by the Russians, and spent the rest of the war, and some time thereafter, in one of their luxurious prison camps. When mom was a pre-teen the Russian army made a pit stop in her neck of the woods, killed most of her family, but spared her life and put her to work as a slave laborer and sex-toy (cuz she was very pretty), in one of their gulags.

Obviously they both survived this ordeal (otherwise I probably wouldn’t be writing this). However, after the war ended, neither parent was allowed back to their ancestral homes. In order to keep Germans from becoming a “problem” again, Eastern Europe (with approval of all the Western powers) decided to enact a program of ethnic cleansing by expelling as many as 14 million Germans. This German Diaspora comprised the largest migration of any European people in modern history. More here. Many died, estimates range from 500,000 to 2,000,000. My parents survived that as well, obviously.

They arrived as Flüchtlinge (refugees) in an Austrian camp for such people … two Germans as refugees in a German country,


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CEO Of Asia’s Largest Commodity Trader Unexpectedly Resigns

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

We have tracked the problems of recently junked Noble Group – Asia’s largest commodity trader - extensively over the past year (see “Noble Group’s Kurtosis Awakening Moment For The Commodity Markets“, “Junk Isn’t Very Noble: Asia’s Largest Commodity Trader Responds To Moody’s Downgrade“, “Noble Group’s Cliffhanger“, “Noble Group’s “Collateral Margin Call“, “Noble Group’s “Margin Call” Part II: The Enron Moment“).

And then moments ago things finally turned serious for the company, which just a few weeks ago finalized a $3 billion credit facility in what according to some was an “all clear” moment. Apparently the only clarity was for long-time company CEO, and former Goldmanite Yusuf Alireza, that the time has come to exit stage left.

As the company announced moments ago on the Singapore stock exchange, not only is CEO Alireza resigning, to be replaced by William Randall and Jeff Frase as co-CEOs, but the company will also begin the sale process of its Noble Americas Energy Solutions, a deal that will generate “significant cash proceeds”, which is great since Nobel is desperately in need of cash; it also means that the company is losing one more of its star performing assets as it continues to asset strip itself of any potential future growth, and is merely scrambling to preserve solvency and liquidity.

Randall, based in Hong Kong, is currently President of Noble Group and an Executive Director and will retain his Board Seat. Frase, based in Stamford, Connecticut is currently President, Noble Americas and Head of Oil Liquids and will be invited to join the Board.

From the press release:

The Directors of Noble Group announce that they have accepted the resignation of Yusuf Alireza, Chief Executive Officer.

Mr. Alireza has helped guide Noble through a very challenging period, moving the company to an asset light, merchant focused model; he played a pivotal role in the successful sale of Noble Agri to a group of investors led by COFCO, and has also been instrumental in securing the recently announced re-financing, a crucial element in the process of giving the group a stable base from which to develop.

With this transformation process now largely complete, Mr. Alireza considered that the time was right


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ECB Policy-Failure On Display: European Businesses Aren’t Planning To Invest

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

There once was a time (at least in banished Austrian economic circles) when low market interest rates signaled to entrepreneurs a positive environment in which to make investments in order to grow or create new product. That indicator has long since been broken as central banks muddy the waters and arbitrarily move interest rates wherever they feel ‘optimal’, including corporate bond rates.

The textbook intent of NIRP and ZIRP is to incentivize the banks to make loans and increase credit demand by making rates more attractive; however the central banks have not been able to do that, and the central planners now don’t know what to do (aside from the inevitable helicopter money path of course) in a debt-saturated world.

As evidence that the mechanism the central banks rely on to stimulate the economy is broken, we turn to a recent survey done by Intrum Justitia AB, which looked at whether or not negative interest rates were changing the minds of Europe’s companies on investment decisions (CapEx) – the answer is a resounding no.

84 percent of the 9,440 companies surveyed in 2016 said that low rates haven’t affected their willingness to invest, up from 73 percent just last year. In other words, not only are artificially low rates not spurring businesses to invest earlier than originally planned, companies aren’t even considering it anymore.

Intrum CEO Mikael Ericson said “Evidently, the strategy of keeping interest rates low for more than a year has not created the much sought-after stability. A calculation of an investment includes assumptions of the future. To get the calculation to go together those assumptions need to include a belief in stability and prosperity in the future. Perhaps the negative interest rates do not signal that stability at all, rather that we are still in an extraordinary situation.”

With nearly $10 trillion in debt trading at negative yields, it is safe to say we are still in an extraordinary situation. More importantly, the key takeaway here (other than another central planning failure) is that despite an extremely low cost of capital, companies still have no projects worth undertaking that make capital investments attractive – that should be what concerns everyone.





Paul Craig Roberts: Killary Will Be The Last US President

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Authored by Paul Craig Roberts,

As Our Past Wars Are Glorified This Memorial Day Weekend, Give Some Thought To Our Prospects Against The Russians And Chinese In World War III

The Saker reports that Russia is preparing for World War III, not because Russia intends to initiate aggression but because Russia is alarmed by the hubris and arrogance of the West, by the demonization of Russia, by provocative military actions by the West, by American interference in the Russian province of Chechnya and in former Russian provinces of Ukraine and Georgia, and by the absence of any restraint from Western Europe on Washington’s ability to foment war.

Like Steven Starr, Stephen Cohen, myself, and a small number of others, the Saker understands the reckless irresponsibility of convincing Russia that the United States intends to attack her.

It is extraordinary to see the confidence that many Americans place in their military’s ability. After 15 years the US has been unable to defeat a few lightly armed Taliban, and after 13 years the situation in Iraq remains out of control. This is not very reassuring for the prospect of taking on Russia, much less the strategic alliance between Russia and China. The US could not even defeat China, a Third World country at the time, in Korea 60 years ago.

Americans need to pay attention to the fact that “their” government is a collection of crazed stupid fools likely to bring vaporization to the United States and all of Europe.

Russian weapons systems are far superior to American ones. American weapons are produced by private companies for the purpose of making vast profits. The capability of the weapons is not the main concern. There are endless cost overruns that raise the price of US weapons into outer space.

The F-35 fighter, which is less capable than the F-15 it is supposed to replace, costs between $148 million and $337 million per fighter, depending on whether it is an Air Force, Marine Corps, or Navy model

A helmet for a F-35 pilot costs $400,000, more than a high end Ferrari

(Washington forces or bribes hapless Denmark into purchasing useless and costly F-35)

It is entirely possible that the world is being led to destruction by nothing more than the greed of the US
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Study Says Lie to Employees to Get Them to Work Harder Without Paying Them More

Courtesy of Mish.

A study that no doubt wasted money concluded employers could get employees to work harder by doing one of two things:

  1. Giving them meaningful work
  2. Convincing the employees their work is meaningful when it isn’t.

Please consider How to Get Employees To Work Harder Without Paying Them More.

A new study walks through a solution to an age-old conundrum for employers: how to make employees work harder without paying them more.

The answer is to give them meaningful work, according to research by economists Michael Kosfeld, Susanne Neckermann, and Xiaolan Yang published on the economics commentary website VoxEU. Or at least motivate staff to believe their work has meaning.

Knowing that you matter really does matter, according to the study, “which suggests that the provision of meaning can be a low-cost instrument to stimulate work effort.”

In a survey of 413 students in Hangzhou, China, academics got output to increase by telling a group of study participants that their data-input work was of great importance to a research project. Another group was told the work was just a quality check that would probably never get used. The performance of those told that their work was of great importance ranked about 15% higher in the data-entry task.

Flawed Study

Where’s the control group?

Stressing the negative to half the employees and the positives to another is hardly a valid test.

And as for giving employees more meaningful work … if companies could do that, they would have done so already.

Finally, purposely telling employees lies is going to make for really angry employees when they do discover the truth. … and they will if continually lied to.

Mike “Mish” Shedlock





Opportunity Amongst The Entrails Of European Banks

Courtesy of ZeroHedge. View original post here.

Submitted by Capitalist Exploits.

By Chris at www.CapitalistExploits.at

In a misguided and desperate attempt to fight the headwinds of deflation (a byproduct ofunsustainable debt which the market has been trying to unwind for the past decade), central bankers have manipulated markets with a range of tools. This ranges from a lot of preposterous jawboning to quantitative easing and slashing interest rates all the way down to levels never experienced before.

The markets’ belief in central bankers abilities to keep this particular boat afloat has never been higher. We can see this in the futures market where the market is pricing in low (and even negative) interest rates well into the sunset. If you doubt me go take a look at Euribor rates where the market still expects 3-month euro rates to be 0% some 5 years from now.One would only do this if one thought that default risk was non-existent.

As if that is not enough, central bankers themselves actually are beginning to believe their own rhetoric:

“But we are magic people. Each time we take something and give to the markets – a rabbit out of the hat.” - Vitas Vasiliauskas, ECB Governing Council member

We are clearly dealing with delusional people, and market participants are increasingly making decisions based on the absurdities uttered by these people.

Expecting the very same people who have caused so many of the problems we face today to be able to both identify and then solve those problems is like expecting my dog to be able to solve a quantum mechanics problem, cook my dinner, and restrain himself from chasing a cat. It’s just not going to happen.

While we can’t stop or change what these monetary masters of the universe have done (and will likely continue to do), we can look to profit from the global mispricing of assets – a byproduct of their actions.

The economic and political problems in Europe have seen investors turn on European banking stocks in the same way an ill treated pit bull can turn on its owner, mauling him to death.

Ask one hundred people where things are headed with European banks and you’ll likely receive an overwhelming majority telling you they’re in trouble and to stay away.

This is one of…
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Phil's Favorites

Overpriced tech IPOs sell grand visions but aren't worth their valuations

 

Overpriced tech IPOs sell grand visions but aren't worth their valuations

rblfmr / Shutterstock.com

Courtesy of John Colley, Warwick Business School, University of Warwick

The year of the tech IPO is 2019. Uber went public on May 10 with a US$82.4 billion valuation. Fellow ride-sharing app Lyft floated in March with a U$24 billion valuation and Pinterest had a US$10 billion IPO in April...



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Zero Hedge

Futures Slides As Trade Tensions Escalate

Courtesy of ZeroHedge. View original post here.

S&P futures were lower on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc in muted trade amid renewed worries over the U.S.-China spat after reports Washington is considering cutting off the flow of American technology to as many as five Chinese companies including Hangzhou Hikvision Digital Technology, the world's largest supplier of video surveillance products, expanding the US crackdown on China beyond Huawei to include world leaders in video surveillance. The dollar and 10Y yield were unchanged ahead of today's FOMC Minutes.

...



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Kimble Charting Solutions

Emerging Markets About To Submerge If 3-Year Support Breaks?

Courtesy of Chris Kimble.

Are Emerging Markets about to “Submerge” and head a good deal lower? What they do at (3) will go a long way in answering this question!

Emerging Markets ETF (EEM) has been lagging the broad market for the past 15-months. They hit their 50% retracement level of the last year’s highs and lows and falling resistance at (2) recently. The weakness of last has EEM trading below its 200-MA line.

EEM has spent the majority of the past 3-years inside of rising channel (1), which reflects that this trend remains up. The weakness of late has it testing the bo...



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Insider Scoop

Amgen To Buy Danish Collaborator Nuevolution For $167M

Courtesy of Benzinga.

Amgen, Inc. (NASDAQ: AMGN) took a logical step forward in buying a preclinical biotech it has been collaborating with since 2016. 

What Happened

Amgen announced Wednesday an agreement to buy Copenhagen-based Nuevolution for $167 million.

Th...



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Chart School

Weekly Market Recap May 18, 2019

Courtesy of Blain.

China – U.S. trade talk continued to dominate the week.   A heavy selloff Monday was followed by 3 up days, with Friday moderately down.

On Monday, Chinese officials announced retaliatory tariffs against the U.S., hitting $60 billion in annual exports to China with new or expanded duties that could reach 25%.

Then on Wednesday:

The Trump administration plans to delay a decision on instituting new tariffs on car and auto part imports for up to six months, according to media reports.

...

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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

 

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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Biotech

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

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

 

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University

...



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ValueWalk

More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...



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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

Excerpt:

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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OpTrader

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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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.

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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