Archive for 2018

“Largest Ever Ponzi Scheme In Maryland” Rocks Investors, $345 Million Vanishes

Courtesy of ZeroHedge. View original post here.

The Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) announced last month the indictment and arrests of three people, including a Baltimore man, involved in the largest-ever Ponzi scheme in Baltimore-Washington metropolitan area. 

More than 230 people have been taken for a financial rollercoaster as three men ((Kevin B. Merrill ("Merrill"), Jay B. Ledford ("Ledford"), and Cameron Jezierski ("Jezierski") raised $345 million, more than $90 million was invested by over 200 individual investors (including small business owners, restauranteurs, construction contractors, retirees, doctors, lawyers, accountants, bankers, talent agents, current and former professional athletes, and financial advisors); approximately $52 million by family officers; and nearly $203 million from feeder funds, said the SEC.

According to an indictment from Federal prosecutors in Baltimore, Merrill and Ledford touted their experience in collecting on and reselling consumer debt to investors, with the promise of significant profits. The pair operated a web of companies they owned and/or controlled, including Defendants Global Credit Recovery, LLC; Delmarva Capital, LLC; Rhino Capital Holdings, LLC; Rhino Capital Group, LLC; DeVille Assets Managment LTD; and Riverwalk Financial Corporation, which they then sold securities to investors. 

Merrill and Ledford used the corporate entities and 55 bank accounts to shift investor money, deceive investors, and continue their Ponzi scheme that only survived with the influx of greater and greater investor cash inflow. 

Here is how the Merrill – Ledford scheme worked: 

Documents show the men used a web lies, forgeries, and fake documents to conduct the fraud since 2013, using investor money for exotic cars, high-end real estate, private jets, private clubs, casinos, and funding their lavish lifestyles. 

"We allege defendants engaged in a brazen fraud, deceiving investors to perpetuate their wrongdoing and line their pockets with ill-gotten gains," said Kelly Gibson, the associate regional director of the SEC's Philadelphia office. 

The SEC stated approximately $200 million of the money was used to pay prior investors and deceive current investors that their money was generating high returns. 

Merrill owned five mansions, 25 exotic cars — including Bugattis, Ferraris, and Rolls Royces — private jets, powerboats, and more, according to filings. 

Merrill's mansions- 

Merrill's cars- 


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    Futures Slide After Report Trump Has No Intention Of Easing China Tariffs

    Courtesy of ZeroHedge. View original post here.

    After closing Friday's session unchanged, S&P futures have slumped 0.4%, or 10 points, to 2,757 dipping below both Thursday's and Friday's lows…

    … with the Nasdaq down -0.6% so far in early trading…

    … after an Axios report poured cold water over enthusiasm that the upcoming G-20 meeting between Trump and Xi could lead to some progress in the ongoing trade war.

    According to Axios, and contrary to recent hopes of a detente in the ongoing trade war between the two superpowers, Trump has no intention of easing his tariffs on China. Instead, Axios' sources say "he wants Chinese leaders to feel more pain from his tariffs" which he believes need more time to fully kick in.

    "He wants them to suffer more" from tariffs on $200 billion of Chinese goods Axios said, citing a source with direct knowledge of Trump's thinking, and the president believes the longer his tariffs last, the more leverage he'll have.

    In other words, Trump's trade war with China is at the "beginning of the beginning," and his team doesn't expect much from the tentatively planned meeting between Trump and Chinese President Xi Jinping on the sidelines of the G20 summit in Buenos Aires next month.

    So why are the two leaders meeting?

    The Trump economic team has done no substantive planning so far for the bilateral meeting's agenda, largely because the purpose of the meeting is for Trump and Xi to reconnect, eyeball each other, and feel each other out amid their escalating trade war.

    "It's a heads of state meeting, not a trade meeting," a source with direct knowledge told Axios.

    As another source explained, "Trump is thinking about this meeting as a personal reconnection with President Xi, not a meeting that's going to evolve into detailed discussions" and added that "the sides are very far apart. … Right now, there's not the common basis for proceeding."

    Reading between the lines suggests that if anything, the G-20 summit could lead to an even worse outcome as Trump isn't focused on the details of a potential China deal, "he's…
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    A 10% Drop In Stocks Would Send GDP Sharply Lower In 2019, Goldman Finds

    Courtesy of ZeroHedge. View original post here.

    In addition to boosting the intangible "wealth effect" by raising consumer confidence and encouraging spending, rising stock prices have a benign effect on the broader economy by directly stimulating US economic growth and GDP. And vice versa: when stocks drop, tightening financial conditions, US GDP is impacted adversely.

    That's the observation made in a Friday note from Goldman economists, which tries to quantify the growth effect of the equity sell-off, and finds that "the stock market is likely to turn from a significant contributor to strong growth at the start of the year into a modest drag next year, barring a further rebound in equity prices."

    Picking up where another recent Goldman note left off, which as we discussed yesterday concluded that the Fed will have to hike rates more than the market expects in order to substantially tighten financial conditions and slow down the economy, bank  economists Jan Hatzius and Dean Struyven write that "the 6% decline in the stock market since late September has been the most important driver of the recent tightening in financial conditions." As a result, the bank now estimates "that the 0.5% boost to GDP growth from higher equity prices at the start of the year has already disappeared."

    As shown in the chart above, Goldman explains that the run-up in the equity component, i.e. rising stock prices, of the Financial Conditions Index drove most of the 185 basis points easing from the start of 2017 till late January, when the index hit its record low. Conversely, the 6% sell-off in the S&P 500 since the September all-time high has been the biggest factor in the tightening of financial conditions and has accounted for two thirds of the roughly 50bp FCI tightening over the last month (other factors include the rise in rates and the dollar which account for about half of the -1.5% swing in the FCI impulse from +0.75pp at the start of the year to -0.75pp in the first half of next year).

    Looking ahead, between the Fed's own tightening  posture and potential continuation of the equity selloff, Goldman expects a decline in the equity impulse to real GDP growth to about -0.25% in the first
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    “On A Knife’s Edge” – Markets Are In A Critical Phase

    Courtesy of ZeroHedge. View original post here.

    Authored by Sven Henrich via NorthmanTrader.com,

    Last week’s inside week produced a massive rally off of heavily oversold conditions, but then gave a large part of the gains back, closing just above the weekly 50MA, but below the 2016 support trend line leaving markets on a knife’s edge. My suggestion to both bulls and bears here: Pay really close attention and keep a very open mind. Make no mistake here: This is a critical phase for these markets.

    Let me walk you through some considerations.

    As mentioned in previous updates from a technical perspective the underlying weakness in the internals leading up to the September/October peaks amidst tightening technical patterns and negative divergences (Lying Highs) was not a surprise.

    And if you view this recent correction through the lens of simply supply & demand, this correction also makes perfect sense. After all insiders cashed out aggressively in September and then 2018’s biggest artificial liquidity infusion, buybacks, temporarily ceased into the earnings window.

    From a bullish perspective this correction will be simply another temporary dip before buybacks return and then stocks can embark on another major rally into the positive mid term seasonality window:

    This may well happen and that is clearly the script many expect.

    However, for counter balance, I’d like to offer a couple of other considerations.

    Firstly, in regards to the mid term seasonality window, let’s be clear, 2018 so far has not followed the mid term seasonality script very well. It would have called for a market peak in April, then a low in to late September/early October. None of that has happened in 2018. We saw a first peak in January and a low in February and then another peak in September. So if one is relying on a mid term seasonality script they are relying on a pattern that hasn’t really applied all year.

    But as you see in the chart above typical market seasonality is also strong into year end, between the end of October and late December specifically. Think FOMO and mark-ups as lagging funds need to play catch-up. Add returning buybacks into the mix and you have…
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    The Market Message of the Midterms

     

    The Market Message of the Midterms

    Courtesy of 

    I really liked Ari Wald’s weekly chart book for Oppenheimer this weekend.

    Ari is arguing that the put/call ratio has jumped to a pessimistic extreme auguring well for a short-term buying opportunity. He does not believe the downturn in market breadth (NYSE advance-decline line) has put in enough time to serve as confirmation that the top of the 2016-? cyclical rally has peaked.

    For my Chart o’ the Day, here’s an interesting look at the current market environment versus the last time we traded through the midterm elections in 2014…

    Here’s Ari:

    Reminiscent of the 2014 Midterms

    During the 2014 midterm cycle, the S&P 500 experienced a bout of volatility on Ebola-induced fears ahead of the elections. Looking back at that period, the index pierced its 200-day moving average in October 2014 for the first time in two years before rallying into year-end (note: 2013’s post-election advance pararrels 2017’s strength). Internal breadth was similar too: the NYSE A-D line had peaked in July 2014 and the number of net new highs dropped sharply during October’s volatility. We show this comparison to refute the idea that current conditions argue for imminent disaster. Still, similar to October 2014, there’s longer-term warnings that warrant monitoring.

    Source:

    Historical Review of Breadth at Major Tops
    Oppenheimer & Co – October 20th, 2018





    It’s Not The Economy, Stupid; It’s WACC!

    Courtesy of ZeroHedge. View original post here.

    Authored by Adam Taggart via PeakProsperity.com,

    When it goes up, prices go down. It's going up…

    This is a revisitation of a report I wrote back in late 2016, predicting the imminent end of zero-bound interest rates and warning of the downward pressure that rising rates, mathematically, must place on today's elevated asset prices.

    Since the publication of that report, interest rates have indeed vaulted higher. Look at how the 3-month US Treasury yield has exploded since the start of 2017:

    A Little Background

    When I was fresh out of college in the mid-90s, I landed a job at Merrill Lynch. I was an "investment banking analyst", which meant I had no life outside of the office and hardly ever slept. I pretty much spoke, thought, and dreamed in Excel during those years.

    Much of my time there was spent building valuation models. These complicated spreadsheets were used to provide an air of quantitative validation to the answers the senior bankers otherwise pulled out of their derrieres to questions like: Is the market under- or over-valuing this company? Can we defend the acquisition price we're recommending for this M&A deal? What should we price this IPO at?

    Back then, Wall Street still (mostly) believed that fundamentals mattered. And one of the most widely-accepted methods for fundamentally valuing a company is the Discounted Cash Flow (or "DCF") method. I built a *lot* of DCF models back in those days.

    I promise not to get too wonky here, but in a nutshell, the DCF approach projects out the future cash flows a company is expected to generate given its growth prospects, profit margins, capital expenditures, etc. And because a dollar today is worth more than a dollar tomorrow, it discounts the further-out projected cash flows more than the nearer-in ones. Add everything up, and the total you get is your answer to what the fair market value of the company is.

    The Weighted Average Cost Of Capital

    The DCF approach sounds pretty straightforward. And it is. But it's still much more of an art than a science. Your future cash…
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    Tesla Employees Describe Musk As Polarizing, Wasteful Micromanager In New Expose

    Courtesy of ZeroHedge. View original post here.

    A new CNBC expose on Tesla, the product of conversations with 35 current and former employees, has revealed Elon Musk to be a polarizing and wasteful boss who micromanages too much.

    The extended report gives yet another look into a personality and work environment that helps explain the exodus of senior executives that the company has suffered over its short lifespan; it also touches on some “creative” accounting allegedly taking place at the company, like defining extra work on production lines as “training” or “research and development”. 

    Primarily, the expose notes that Musk often does not take the advice of his team and instead insists on what he envisions, regardless of whether or not it’s practical. An example of Musk’s chaotic method is his promise to crank out 500,000 electric vehicles a year by 2018. He made this promise without having the infrastructure in place. Instead, it was only afterwards that Musk tried to “automate everything”, according to the article. Despite being warned by his team that robots and automation were not practical to install some vehicle parts, like door seals, Musk insisted that it was possible and it was what he wanted.

    As a result, the door seals became one of several automation failures that forced Musk to starkly rearrange his production facility this past summer and replace this automation with manual labor. Musk later admitted on camera with CBS that his vision for automation didn’t go off as he planned. Some of the 35 current and former employees interviewed by CNBC claim that this hard headedness, along with “ignoring methods pioneered by other automakers and industry veterans”, is how Musk has been regularly managing Tesla.

    Musk’s style of promising first and figuring out a way to deliver later is the same style that has many analysts and investors worried that Tesla may not meet the Q3 profitability goals it set for itself at the beginning of the year. At the same time Tesla’s deliverables are mounting with the company carrying about $3 billion in accounts payable, and has a total of more than $1.5 billion in debt coming due by March of next year.

    Other employees echoed stories about Musk’s wasteful style. For example, Tesla had at one point tried to set up a “vision system” which was supposed to help speed up end of the line
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    Saudi Crown Prince Spoke To Khashoggi By Phone Moments Before He Was Killed: Report

    Courtesy of ZeroHedge. View original post here.

    In the latest bombshell report involving the Khashoggi murder, Saudi Crown Prince Mohammed bin Salman reportedly spoke on the phone with journalist Jamal Khashoggi moments before he was murdered in the Saudi consulate in Istanbul. Turkish pro-government daily Yeni Safak disclosed the new alleged details of the case in a report on Sunday, contradicting claims by Saudi authorities that Prince Mohammed played no part in Khashoggi’s murder.

    “Khashoggi was detained by the Saudi team inside the consulate building. Then Prince Mohammed contacted Khashoggi by phone and tried to convince him to return to Riyadh,” the report said.

    “Khashoggi refused Prince Mohammed’s offer out of fear he would be arrested and killed if he returned. The assassination team then killed Khashoggi after the conversation ended,” it added.

    While the report is so far unconfirmed, the New Arab reports that so far Turkish pro-government media have been receiving a steady stream of leaks many of which turned out to be accurate, including pictures of the hit team as they entered Turkey and reports of audio recordings of the murder said to be in the possession of Turkish authorities.

    Meanwhile, the Saudi version of events has been changing significantly over the past two weeks with authorities conceded Saturday that Khashoggi, the Washington Post columnist and a Riyadh critic, was killed inside the kingdom’s Istanbul diplomatic compound following a “brawl”. The admission came after a fortnight of denials with the insistence that the journalist left the consulate alive, starting on October 5, when Crown Prince MBS told Bloomberg that Khashoggi was not inside the consulate and “we are ready to welcome the Turkish government to go and search our premises”.

    On Saturday, the kingdom announced it had fired five top officials and arrested 18 others in an investigation into the killing – a move that has widely been viewed as an attempt to cover up the crown prince’s role in the murder.

    The shifting Saudi narrative of the killing has been met with scepticism and condemnation from the international community, and has left the U.S. and other allies struggling for a response on Sunday. As Bloomberg reports, France demanded more information, Germany put arms sales to Riyadh on hold and the Trump administration stressed the vital importance of the kingdom and its economy to the U.S.

    In


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    Eric Peters: “If US Stocks Finally Crack, Most People Will Conclude We’re Headed Into Another Depression”

    Courtesy of ZeroHedge. View original post here.

    Submitted by Eric Peters of One River Asset Management

    Hypothetical

    “I was asked to lay out the case for the US being mid-cycle,” said my favorite strategist. “Residential housing is 4% of GDP now, that’s consistent with past recessionary levels. So perhaps it jumps to 8%,” he continued.

    “Equipment and machinery spending is just 6% of GDP.” Pretty consistent with previous recessions. “So maybe both expand, and incomes rise.” Which leads to higher inflation and shrinking profit margins. “Then perhaps the Fed tolerates rising prices which means that nominal growth remains strong even if real growth rates slow,” he postulated.

    “So in that case, workers do better, and companies are worse off on a relative basis. But in that 7% nominal GDP world, inflation might mask the pain well enough to allow stocks to sail through,” continued my favorite strategist.

    “You think about that hypothetical and it’s possible,” he said. “But then you listen to what the companies are saying, and you walk away with the sense that there’s just no way.” Homebuilding stocks are -30% from the January highs.

    “If you just look across the spectrum, interest-sensitive equities are screaming late-cycle.”

    “Making the mid-cycle case raised my conviction that we’re late-cycle,” he said. “America’s fiscal boost masked the natural cycle dynamics.” The US is the outlier. In dollar terms, of the major markets, only American stocks are higher on the year.

    So if US stocks catch up and crash from here, what happens next?” he asked rhetorically. “I think most people will conclude we’re headed into another depression. But I think there will be great things to buy. Probably in the places that are already crashing and burning.”

    Positioning

    “Hidden dollar shorts throughout the global banking system were overwhelming and ill understood in 2008,” said the strategist. “So when the dollar began to appreciate, you hit stop loss after stop loss.” Mexico’s peso plunged from 11 to 14 versus the dollar in no time.

    “You thought, could this happen? And it could, anything can.” That’s how markets work. “It was difficult to understand the magnitude of the dollar shorts, but they were interwoven…
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    Migrant “Attack Caravan” Regroups; 5,000 Push North As Mystery Men Hand Out Cash

    Courtesy of ZeroHedge. View original post here.

    A Central American migrant caravan which was temporarily delayed by the Mexican government has regrouped, resuming their advance towards the US border on Sunday, according to AP

    The number of migrants swelled overnight to approximately 5,000 as the mile-long caravan set out toward the Mexican town of Tapachula. Several hundred asylum seekers have reportedly applied for refugee status in Mexico, while an estimated 1,500 remain on the Guatemalan side of the Suchiate River in the hopes of entering Mexico legally. 

    It was not immediately clear where the additional travelers had materialized from since about 2,000 had been gathered on the Mexican side Saturday night. They seemed likely to be people who had been waiting in the Guatemalan town of Tecun Uman and who decided to cross during the night.

    They marched on through Mexico like a ragtag army of the poor, shouting triumphantly slogans like “Si se pudo!” or “Yes, we could!

    As they passed through Mexican villages on the outskirts of Ciudad Hidalgo, they drew applause, cheers and donations of food and clothing from Mexicans.

    Maria Teresa Orellana, a resident of the neighborhood of Lorenzo handed out free sandals to the migrants as they passed. “It’s solidarity,” she said. “They’re our brothers.” -AP

    The group has been referred to as an “attack caravan” by former GOP House Speaker Newt Gingrich, who cited a figure by Fox News host Laura Ingraham that the caravan would cost around $7,000 per person, or $28 million total when the size of the group was estimated at 4,000 people. At 5,000 strong, the caravan would cost $35 million. 

    If the new reports are correct the “attack caravan” from Central America is up to 4,000 people. If Laura Ingraham’s estimate is right and it costs about $7,000 per person where is the $28 million coming from. This is $28 million to attack American sovereignty.

    — Newt Gingrich (@newtgingrich) October 19, 2018

    Meanwhile, two men in white t-shirts were seen handing out what appears to be cash to the migrants last week, fueling speculation that the second such group this year has been professionally organized and funded. 

    Watch the two guys in white t-shirts. Apparently paying those joining the #CaravanaMigrante. Who is funding this attack on the American


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    Phil's Favorites

    Trump and the problem with pardons

     

    Trump and the problem with pardons

    Courtesy of Andrew Bell, Indiana University

    As a veteran, I was astonished by the recent news that President Trump may be considering pardons for U.S. military members accused or convicted of war crimes. But as a scholar who studies the U.S. military and combat ethics, I understand even more clearly the harmful long-term impact such pardons can have on the military.

    My researc...



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    Zero Hedge

    Macron Suffers Huge Blow With Defeat To Le Pen

    Courtesy of ZeroHedge. View original post here.

    In what may be the biggest shock from today's European parliamentary elections, President Emmanuel Macron is set to suffer a blow with French voters set to hand a victory to Marine Le Pen’s National Rally, picking the vocal Eurosceptic and nationalist over the former Rothschild banker.

    Macron’s En Marche (Republic on The Move) will have just 22.5% of the vote compared with 24% for Le Pen, according to pollsters Ifop. With Macron and Le Pen neck and neck ahead of the elections, the outcome will be a...



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    Insider Scoop

    Jefferies Sees 60-Percent Upside In Aphria Shares, Says Buy The Dip

    Courtesy of Benzinga.

    After a red-hot start to 2019, Canadian cannabis producer Aphria Inc (NYSE: APHA) has run out of steam, tumbling more than 31 percent in the past three months.

    Despite the recent weakness, one Wall Street analyst said Friday that the stock has 30-percent upside potential. 

    The Analyst

    Jefferies analyst ...



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    Kimble Charting Solutions

    DAX (Germany) About To Send A Bearish Message To The S&P 500?

    Courtesy of Chris Kimble.

    Is the DAX index from Germany about to send a bearish message to stocks in Europe and the States? Sure could!

    This chart looks at the DAX over the past 9-years. It’s spent the majority of the past 8-years inside of rising channel (1), creating a series of higher lows and higher highs.

    It looks to have created a “Double Top” as it was kissing the underside of the rising channel last year at (2).

    After creating the potential double top, the DAX index has continued to create a series of lower highs, while experiencing a bearish divergence with the S...



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    Chart School

    Brexit Joke - Cant be serious all the time

    Courtesy of Read the Ticker.

    Alistair Williams comedian nails it, thank god for good humour! Prime Minister May the negotiator. Not!


    Alistair Williams Comedian youtube

    This is a classic! ha!







    Fundamentals are important, and so is market timing, here at readtheticker.com we believe a combination of Gann Angles, ...

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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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    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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