Tuesday, July 15, 2014

Today's Links

1---JPMorgan pulls back from mortgage lending on foreclosure worries, BI

2--S&P 500 Falls as Fed Valuation Concerns Overshadow Banks, Bloomberg

3--"Take that, Bitchez!"; BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks, zero hedge

4---“I am definitely concerned. When was the CAPE [Cyclically adjusted price/earnings] ratio higher than it is now? I can tell you: 1929, 2000, and 2007.”

- Interview with Robert Shiller, June 25, 2014  

5---Every Time Is Different, And The Same, lance Roberts

(Note: this is also the danger of excessive margin debt in the financial markets. Margin debt is comprised of “loans” based on the value of a stock portfolio. As prices plunge, the drop in valuations trigger “calls” on margin loans which then requires more sells. The additional selling triggers more selling, and so on.)

In a highly complacent market environment, as we have currently, there is little attention paid to geopolitical tensions, economic or fundamental data or a variety of other relevant risks.

6---Stock Buybacks Slowing Down In Q2? Don't Make Intel Laugh, zero hedge

7---NYSE Margin Debt Falls, reformed broker

8---Q2 Buyback Announcements on Track to Be Lowest in 7 Quarters, prag cap

9--Yelln: "Stocks and bonds are overvalued", prag cap

10--The low volatility paradigm and diminishing return expectations ,sober look

11--Biderman on CNBC: Earnings have never predicted future stock prices , trim tabs 

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