I’ve been slammed with emails from people wondering why no global macro commentary on the recent action. My response has been: “It’s far too late for commentary now. There’s nothing to do or change based on the market operation that was put in place when everyone else was screaming bloody murder”. In other words, as […]
Morgan Stanley (MS) has rewarded us for being patient. In my last post on January 21, I suggested she would trade down in the low 40’s. If you missed the idea, this stock is looking very attractive as a long term investment for so many reasons that I don’t want to even bother discussing them all here, but I will list them: Forward P.E. in the single digits, Fed is in aggressive cutting mode and lending margins are expanding, sub-prime is expected to get much worse from here and thus priced in. Therefore the risk is to the upside.
It’s great to be a global macro equity trader right now for a couple of reasons I’ll get to in just a second. But first, it’s not often there are widespread global macro strategies being employed by various market participants. Whether you know it or not, there’s a good chance your portfolio has a little […]
The stock responds the moment the secondary is made public info. The market mechanism begins to work to discount the new information. By the time the secondary is ready to complete, in the final week leading up to it, the stock will pretty much stay locked in a very tight range. It’s […]
