Archive for 2017

Riding The Blockchain Train: These Companies Changed Their Name, And Their Stock Price Soared

Courtesy of Zero Hedge

Many others had done it, but nobody quite as blatantly as beverage maker Long Island Iced Tea Corp, which on Thursday became the latest to jump on the cryptocurrency bandwagon, bizarrely but profitably changing its name to Long Blockchain Corp, which sent its shares soaring by 500%.

In an ironic twist, we previewed LTEA's hilarious "pivot" just one day earlier when – discussing a similar surge in microcap stock Net Element – we said:

Now that it is abundantly clear that for a stock to explode higher, all that is necessary – and sufficient – is a press release mentioning the company's name and throwing in the word "blockchain" in the same sentence (see Riot Blockchain and LongFin Corp), other public microcaps have decided that if that's all it takes, then by all means they will gladly take investors' money.

Indeed, as the value of Bitcoin has skyrocketed in recent months, companies previously focused on making fitness apparel, bras, cigars and beverages (and many other unrelated things) have rebranded themselves as virtual currency or blockchain companies of one sort or another. In this light, what Long Island Ice Tea Blockchain did was the culmination of what to many is clear mania beahvior, as many obscure companies have pivoted operations or simply changed their names to cash-in on the cryptocurrency wave, a trend reminiscent of the dotcom boom. As profiled previously, a barrage of companies have seen their shares sky-rocket, largely on words such as “crypto” or “blockchain” in their names.

And investors have cheered them on, pushing their stock prices up, forcing countless microcaps to ride the "Blockchain train"

Artist's impression of The blockchain train

Courtesy of the NYT, below is a list of companies that have moved into crypto or blockchain businesses, or changed their names. The list also captures the surge in market value since the close on Oct. 11, a day before bitcoin crossed the $5,000 mark.

* * *

BEFORE: Long Island Iced Tea Corp.

AFTER: Long Blockchain Corp.

Long Island Iced Tea made iced teas in flavors including peach and lemon, as well as lemonades. On Thursday, the


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Uninvestable Tesla

 

Uninvestable Tesla

Courtesy of Vitaliy Katsenelson

Tesla is an uninvestable stock for me, not just because of its high valuation but also because it fails our fairly basic quality test, which I shamelessly borrowed from Warren Buffett: Would I still buy this stock if right after the purchase the stock market were to close for ten years? If you are a big Tesla car and stock fan, before you start throwing rocks at me, pause and wait till you finish this article – the rocks and I will still be there.

Think about the next ten years. But before you start mentally drawing upward-sloping lines from the current environment into the next decade and drooling over the rosy vision of Tesla’s future that Elon Musk has painted – produce half a million model 3s and bunches of semis and roadsters, and then send a roadster to Mars (I kid you not; that is in his 2018 plan – I’d like you to think about another version of the next ten years: higher (maybe much higher) interest rates, a recession in the US and around the globe, and a less promiscuous bond market where Tesla would have pay a substantial premium to US Treasuries (as would any other company that loses over a billion dollars a year in a highly cyclical industry). And now answer this question: Would Tesla survive this change in economic weather if it happened next year or even three years out? And the answer is … a weak “maybe” at best, and “unlikely” at worst.

The counterargument I’d get: Yes, but we are not going into a recession. Actually, we are. I (and nobody else, for that matter) just don’t know when. After nine years of appreciating stock markets and tepid economic growth, we tend to forget that recessions are a regular  economic fact of life, usually arriving every four to five years (so we are overdue for one). Most Millennials have yet to experience adulthood (have a job and a family) through a recession. They have also never had to borrow at high interest rates – but that is liable to happen, too.

Recessions are usually caused by expansions. Recessions are like the hangover that comes after the wild college party (economic expansion). It’s hard to have a good, fun college party with lots of booze and then…
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Visualizing The Global Rush To Build Skyscrapers

Courtesy of Zero Hedge

As the creator of today’s visualization, Alberto Lucas López, points out, “the world’s tallest buildings have acted as barometers”.

Another way of putting it? Our biggest architectural accomplishments are highly visible symbols of what society values most, and those values have changed over time.

Today, the paramount belief system in many parts of the world is in capitalism, and there is no more potent marker of the economic might than fantastically tall commercial skyscrapers.

Today’s visualization is an effective way to take in the mind-bending scale of the newest generation of megatall buildings. It’s headlined by Jeddah Tower, a skyscraper currently under construction in Saudi Arabia that will smash the one kilometer mark when it’s completed in 2019.

Courtesy of: Visual Capitalist

CITIES ARE GROWING UP

In general, only very large cities have the resources to build and support extremely tall buildings.

With the explosion of urbanization around the world and developing economies asserting themselves in high profile ways, the stage is set for a global skyscraper boom.

In the last two years, 39 skyscrapers taller than 300m have been constructed, with five of the them eclipsing the height of the Empire State Building.

Global skyscraper construction has increased a whopping 402% since 2000.

HIGH-RISE HOT SPOTS

China

Nearly every sizeable Chinese city has skyscrapers under construction, and the numbers are staggering. Since 2012, China has added 38 skyscrapers over 300m (~1,000 ft) in height, and there are another 16 skyscrapers on the way in 2018.

In particular, the Pearl River Delta megaregion, which is anchored by Hong Kong, Shenzhen, and Guangzhou, has seen an astonishing commercial construction boom. Today, 20 of the 100 tallest buildings on earth are located in just this one urban megaregion of China.

China’s Top 10 Tallest Buildings

In total, 46 of the world’s 100 tallest skyscrapers are now located in China, and that number is sure to increase in coming years.

United Arab Emirates

Construction has been relentless in UAE for decades, and much of that development has been


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No Peace In Our Times: The Inevitability Of War

Courtesy of ZeroHedge. View original post here.

Via GEFIRA,

“While people are saying, peace and safety, destruction will come on them suddenly, as labor pains on a pregnant woman, and they will not escape.”

Are you, man or woman of Christian and European heritage, aware of this prophecy or do you prefer to live in a fancy world of happy-clappy wishful thinking that the brotherhood of men is about to put an end to human conflict once and for all? Though Christmastide is a time of merrymaking, it may also be a period of reflection. The Birth that we celebrate on Christmas Day was perceived by some as such a threat as to justify the Massacre of the Innocents. Peace and good will were closely intertwined with discord and hostility. Do you think we are living in better times? Do you think we are living in Fukuyama’s end of history?

War has persisted throughout history ever since the dawn of mankind. That’s probably the best indicator that it will persist for all eternity. Why should it cease? War for the purposes of this text is not merely the outright hostilities, the firing guns and resounding battle cries. It is a constant strife that is being played out on a day-to-day basis which now and again erupts into its dramatic form of the opposing armies acting on the theatre of war. Why do we broaden the definition of war? If only because casualties – and we mean loss of lives – are not necessarily the highest during the time of the roaring guns. Those sustained during the periods of peace may be just as high or even higher. Case in point: the Yeltsin era in Russia lasting for roughly ten years. Within that decade, life expectancy plummeted from 70 down to 60, which means that the country’s loss of lives amounted to the magnitude comparable to that during any war, which is millions. This loss of life was brought about by social and economic reforms i.e. steps taken supposedly to make the living standards better and these were demanded or suggested or advised by the powers outside Russia. The result? Closed down factories, laid off employees, poverty and the attendant disease and demise of many. Were these not


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“My Eyes Popped Out Of My Head”: Ohio Woman Receives $284 Billion Electric Bill

Courtesy of ZeroHedge. View original post here.

The ‘Nightmare Before Christmas’ has nothing on this.

Due to a processing error made by her local power company, one Ohio woman discovered earlier this month – to her abject horror – that she owed Penelec, her power provider, $284 billion, a figure that’s larger than the combined national debts of Hungary and South Africa.

According to The Eerie Times News, Mary Horomanski discovered the error while she was checking her bill online. Initially, she wondered if the hefty charge was due to her Christmas decorations.

“My eyes just about popped out of my head,” said Horomanski, 58. “We had put up Christmas lights and I wondered if we had put them up wrong."

There was, of course, one small silver lining: According to her bill, Horomanski didn’t have to pay the entire $284,460,000 sum until November 2018. Her minimum payment for December was a relatively paltry $28,156. And Penelec hadn’t turned off her electricity – yet.

Fortunately for Horomanski, the issue was quickly resolved when she texted her son, who contacted the power company and told them about the bill. They confirmed that the sum was an error, and that Horomanski owed much, much less. Her online statement was quickly fixed to the correct amount: $284.46.

A spokesman for the power company said he doesn’t know how the error occurred but that it was obviously the result of somebody accidentally moving a decimal point nine digits to the right.

“I can’t recall ever seeing a bill for billions of dollars,” Durbin said. “We appreciate the customer’s willingness to reach out to us about the mistake."

The incident, Horomanski said, prompted her to ask for a different gift from her son this year.

“I told him I want a heart monitor,” she said.





The Dollar’s Reign As The Global Reserve Currency Is Running Out – Fast

Courtesy of ZeroHedge. View original post here.

The dollar’s hegemony over the global financial system can’t last forever. Like all things, it will eventually come to an end.

The only question left, as MacroVoices' Erik Townsend puts it, is whether we’re in the second inning and there’s going to be another hundred years of the dollar serving as the world’s global reserve currency? Or whether we’re in the bottom of the ninth and it’s all about to fall apart? Or maybe somewhere in between.

In an interview with Jeffrey Snider, CIO at Alhambra Partners, Luke Gromen, founder of Forest for the Trees, and Mark Yusko, founder and fund manager for Morgan Creek, Townsend explores the issue in greater detail. For many, the decline of the dollar as the world’s reserve currency is difficult to imagine. But the first blow to the petrodollar system has already been delivered: By refusing to accept oil payments in dollars, Venezuela has demonstrated to the world that an alternative system to the petrodollar is indeed possible. Furthermore, Latin America’s socialist paradise has begun publishing an oil-price index denominated in yuan. We've also highlighted reports that Russia, Venezuela and Iran – three countries that have trouble accumulating dollars because of Treasury Department sanctions – are considering launching a cryptocurrency backed by oil.

Townsend begins his interview with Gromen, who points out that, counterintuitively, the dollar’s rapid appreciation beginning in Q3 2014 has coincided with a drop in the share of global trade settled in dollars. Gromen predicts that this trend will continue to benefit the dollar – until it doesn’t.

I would probably say in the later innings. Certainly the last third of the game. Maybe the eighth inning.

The reason I say that is that, given the Eurodollar system as it’s structured, early on, if any nations or major parties wanted to move away from using the dollar for any number of reasons, ironically, what that moving away from the dollar would do would drive significant dollar strength. So, ironically, accelerating moves to dump the dollar in global trade usage, which in the long run is the most bearish development for the dollar, in the near term is the most bullish development for the


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Mystery Buyer Of ‘Most Expensive Apartment In Asia’ Revealed

Courtesy of ZeroHedge. View original post here.

A month ago, we highlighted a disturbing new record in the Hong Kong real-estate market – a market that received a ranking of “high” from Algebris Investment’s Alberto Gallo in his annual ranking of the world’s biggest asset bubbles.

According to a report in the South China Morning Post, the record price per square foot for a residence in Hong Kong was obliterated when a mystery buyer purchased two apartments in “The Peak” – an exclusive district.

At 132,000 Hong Kong dollars per square foot, the purchases made them the two most expensive apartments in Asia in terms of square footage. In total, the mystery buyer spent an astonishing 1.16 billion Hong Kong dollars (nearly $200 million) on the two apartments.

Today, the name of the mystery buyer has been revealed, courtesy of the South China Morning Post:

The Land Registry on Saturday identified the buyer as Lin Zhongmin, sparking frenzied media speculation about where the person comes from.

The two flats on the 12th floor of the exclusive residential development, with a combined area of 8,821 square feet, were sold last month.

One flat, measuring 4,242 square feet, fetched HK$560.2 million, or HK$132,060 per square foot, making it Asia’s most expensive residence by floor area. The adjoining flat, measuring 4,579 sq ft, sold for HK$604.2 million, or HK$132,059 per square foot.

According to the SCMP, the name of the buyer is not widely known in Hong Kong. The paper ventured to guess that he is from the main land, meaning the buyer would have to pay a double stamp duty of 15% on one flat plus the basic stamp duty of 4.25% on the other. The total would come to about $110 million Hong Kong dollars.

Whoever Lin is, it’s safe to assume he has a personal wealth in the billions.

“It would be logical to assume that anyone who can afford to spend more than HK$1 billion on two flats would have a personal wealth of at least HK$10 billion,” Vincent Cheung, deputy managing director for Asia valuation and advisory services at Colliers International, said.


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US Ambassador Calls Own 2015 Statement “Fake News”; Things Then Rapidly Go South

Courtesy of ZeroHedge. View original post here.

The new US ambassador to the Netherlands, Pete Hoekstra, is not off to a good start following an international embarrassment on Dutch TV in which he smugly denied every saying there are no-go zones in the Netherlands – calling the suggestion "fake news." 

Ambassador Pete Hoekstra

Hoekstra – former congressman (R-MI) and chair of the House Intelligence Committee for two years, was asked by Dutch journalist Wouter Zwart of news program Nieuwsuur about comments he made in 2015: 

Zwart: “You mentioned in a debate that there are no-go zones in the Netherlands, and that cars and politicians are being set on fire in the Netherlands.”

Hoekstra: "I didn't say that. This is actually an incorrect statement. We would call it fake news.

Zwart then shows Hoekstra a clip of him saying exactly that

"The Islamic movement has now gotten to a point where they have put Europe into chaos. Chaos in the Netherlands, there are cars being burnt, there are politicians that are being burnt … and yes there are no-go zones in the Netherlands" -Pete Hoekstra, 2015

A still-smug Hoekstra deadpans to Zwart, denying that he used the phrase fake news. "I didn't call that fake news. I didn't use the words today. I don't think I did." 

Hoekstra – born in Groningen, Netherlands, was sworn in on December 11th by Mike Pence. In response, he said that he "made certain remarks in 2015 and regret the exchange during the Nieuwsuur interview. Please accept my apology." 

Please see my comments regarding recent interview. Thank you. Pete pic.twitter.com/gxQOcZ8Duk

— Pete Hoekstra (@petehoekstra) December 23, 2017

Ironically, as it turns out, there are several parts of The Netherlands which aren't quite classified as "no-go" zones, but whose residents are approximately 80% immigrants. In 2007, The Netherlands Housing Ministry identified 40 "problem districts" to be transformed into "dream districts." In a now-deleted (but archived) article, Dutch news outlet RTL Niews published 20 of the districts. 


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Keys To Investment Success With Dennis Stattman, Co-Founder Blackrock Global Allocation Fund

By Guest Post. Originally published at ValueWalk.

Great investor Dennis Stattman recently retired from running the award-winning BlackRock Global Allocation Fund after launching it nearly 30 years ago. He’ll share his investment lessons learned and how to apply them now.


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Investment Success With Dennis Stattman

Image source: YouTube Video Screenshot

Newsletter

Thirty years ago, investing globally was not a mainstream Wall Street pursuit. Most American institutional and individual investors were content to search for opportunities in the U.S., by far the world’s largest economy with the biggest and most liquid markets.

That’s when this week’s great investor guest and a business school classmate and friend decided to launch not only a global fund but a global allocation fund that would invest in a wide range of assets including but not limited to stocks, bonds, cash and currencies with a great deal of flexibility about how much to allocate to each. It was an unusual approach which turned into a highly successful and widely emulated product.

This week’s guest is Dennis Stattman, who until August of 2017 was the Senior Portfolio Manager of Blackrock Global Allocation Fund, which he co-founded at Merrill Lynch in 1989, and for most of the last 20 years was its lead portfolio manager. Since its inception this flexible global multi-asset fund has delivered annualized total returns of nearly 10% beating global stock market returns with one-third less volatility. Under Stattman’s leadership it also earned a Gold Analyst Rating from Morningstar for its best of breed strategy, management team, stewardship and culture.

Its value oriented, risk averse, eclectic, global approach also resonated with investors. Assets under management topped $80 billion at…
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Saudi Airstrikes Kill 48 Yemeni Civilians In 24 Hours

Courtesy of ZeroHedge. View original post here.

Authored by Leith Fadel of Al-Masdar News,

The Saudi airstrikes were primarily concentrated on the northern part of the country, where the Houthis currently control several provinces. In addition to northern Yemen, the Saudi airstrikes were also targeted the western part of the country, including the Hodeidah Port that was finally reopened after being blockaded for several weeks.

The death toll from airstrikes included the deaths four civilians reportedly attending a demonstration inside the Yemeni capital – the attack followed a large number of air raids conducted above Sana’a. According to Saba News Agency, the Saudi Coalition airstrikes not only killed four civilians, but also wounded dozens of others, including many women and children. The report added that the airstrikes were conducted during a solidarity vigil that was held in support of Palestine.

Image via Al-Masdar News

The Yemeni War has been ongoing for nearly three years now and much of the country still remains embroiled in a civil war that has yet find a political solution. With the assassination of former president, Ali Abdullah Saleh, in early December, the Yemeni war has entered a new stage with his loyalists now fighting alongside the UAE-backed Southern Resistance forces.

As a result of this alliance, the Southern Resistance forces have been able to recapture several areas from the Houthis, including much of the territory just north of the Mocha Port. While the Houthis have recaptured some sites near the Mocha Port, they are still far away from this historical city.

Yemen situation map as of 12/22/17. Green=Houthis (or Ansar Allah); Red=Saudi coalition/forces loyal to President Abdrabbuh Mansur Hadi; Black=AQ, ISIS. Map source: ISW News

Meanwhile over the weekend, the Saudi-backed Yemeni Army and Hadi loyalists continued their offensive in the eastern part of the Sanaa Governorate, capturing several sites from the Houthi forces near the Marib axis. According to the Yemeni Army’s official media wing, their 7th Division attacked the Dahshush, Jabal al-Tafaha, Tabat al-Qanaseen and Jabal al-Mashna areas of eastern Sanaa on Saturday.

The Yemeni Army was able to capture these sites after a fierce battle with the Houthi forces. The Saudi-backed forces allege that they killed at least 28 Houthi fighters during the advance; however, no official verification has been made available to corroborate the claim.





 
 
 

Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...



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Phil's Favorites

This Is The One Chart Every Trader Should Have "Taped To Their Screen"

Courtesy of Zero Hedge

After a year of tapering, the Fed’s balance sheet finally captured the market’s attention during the last three months of 2018.

By the start of the fourth quarter, the Fed had finished raising the caps on monthly roll-off of its balance sheet to the full $50bn per month (peaking at $30bn USTs, $20bn MBS, although on many months the (balance sheet) B/S does not actually shrink by this full amount which depends on the redemption schedule) and by end-Q4 markets also experienced some of the largest volatility and drawdowns in nearly a decade.

As Nomura&...



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ValueWalk

The Competition For Capital Has Made Stocks Cheap

By Michelle Jones. Originally published at ValueWalk.

The new year is upon us, and now is the time many investors look at what 2018 was and prepare for what 2019 might be. Recession jitters are starting to pick back up again, especially now that the full picture of 2018 is in the books. But what if you could pick only one theme for 2018? Jefferies strategist Sean Darby and team have a suggestion which is especially timely given that it appears to mark the end of an era.

StockSnap / PixabayVolatility carries into the new year

This past year was one of extremes, and the markets ended i...



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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



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Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



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Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

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Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

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

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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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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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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