If you’re new to Afraid to Trade or have been wanting to check us out, I wanted to extend an offer to come on in and see what we’re doing! Here’s your chance to step behind the public blog to a two-week trial of our membership site: I’ll also add a few bonus items for registering and joining us during your visit with us. Go ahead and register now – I won’t keep this offer on the open blog long. Take advantage of this special limited opportunity window! Corey [Read More...]
Airbnb and Doordash: So Much For A More Efficient IPO Pricing Process
This week was supposed to be a coming out party for a new IPO pricing process dubbed the “hybrid auction.” Newly public companies have long complained that large first day gains for their stocks enriched institutional investors with immediate profits, with no corresponding benefit to the listing firms. Given that an IPO is often desired to raise additional growth capital, being forced to “leave money on the table” is a big disservice to these young firms.Inefficient IPO pricing is not surprising given the actors involved. Companies are advised by investment banking firms, whose job it is to allocate stock to their large institutional clients. The incentive, then, is to keep your clients happy and instantaneous profits on day one certainly accomplishes that. While a higher … [Read More...]
September 26th Blogger Sentiment Poll
Blogger Sentiment Poll Participants: 24/7 Wall St (N) The Aleph Blog (+) NFTRH (N) Bull Bear Trading Carl Futia Dash of Insight (+) Dividend Growth Investor (+) Downside Hedge (N) Elliot Wave Lives On (+) Fallond Stock Picks (-) Global… [Read More...]
Schedule for Week of January 24, 2021
The key reports scheduled for this week are the advance estimate of Q4 GDP and December New Home sales. Other key indicators include December Personal Income and Outlays and November Case-Shiller house prices.For manufacturing, the Dallas, Richmond and Kansas City Fed manufacturing surveys will be released.The FOMC meets this week, and no change to policy is expected at this meeting.—– Monday, Jan 25th —–8:30 AM ET: Chicago Fed National Activity Index for December. This is a composite index of other data.10:30 AM: Dallas Fed Survey of Manufacturing Activity for January.—– Tuesday, Jan 26th —–9:00 AM: FHFA House Price Index for November. This was originally a GSE only repeat sales, however there is also an expanded index.9:00 AM ET: S&P/Case-Shiller House Price Index for … [Read More...]
Strangest Roadside Attraction in Every State
COVID-19 has probably wreaked havoc on most people’s traveling plans. As cases continue to surge across the country and states are reimposing travel restrictions, taking that long-awaited vacation… [Read More...]
Saturday links: ignoring important truths
AutosStephen Wilmot, “Delivery vehicles lend themselves to EV technology in ways passenger vehicles don’t.” (wsj.com)Microsoft ($MSFT) is investing in GM’s self-driving vehicle startup Cruise. (marketwatch.com)Despite some missteps VW trails only Tesla ($TSLA) in terms of EV and hybrid auto production. (wsj.com)EnergyOffshore wind installations require their own specialized support. (wsj.com)Oil and gas companies could become geothermal energy powerhouses. (qz.com)PFASsPFASs, or perfluoroalkyl and polyfluoroalkyl substances, are present in the drinking water of most Americans. (scientificamerican.com)PFASs are present in a lot of the popular outdoor clothing lines. (gq.com)EnvironmentRegenerative farming is both an opportunity for farmers and the planet. (indystar.com)Bad things happen when underground aquifiers get depleted. (wired.com)How the pandemic is undermining sea-based weather monitoring. (hakaimagazine.com)How New Zealand … [Read More...]
For Biden, pandemic safety starts at home: In the White House
SOURCE: Yahoo News – Latest News & Headlines – Read entire story here.
The Most Outrageous Car Collections in the World
Of the countless hobbies people enjoy during their free time, collecting is one of the most common. Part of what makes this hobby so popular is that almost anything can be collected without breaking… [Read More...]
January 22 COVID-19 Test Results and Vaccinations
Note: Bloomberg has great data on vaccinations. “Vaccinations in the U.S. began Dec. 14 with health-care workers, and so far 19.8 million shots have been given, according to a state-by-state tally by Bloomberg and data from the Centers for Disease Control and Prevention. In the last week, an average of 982,739 doses per day were administered.”Also check out the graphs at COVID-19 Vaccine Projections The site has several interactive graphs related to US COVID vaccinations including a breakdown of how many have had one shot, and how many have had both shots. It is possible the 7-day average cases has peaked. Stay safe! I’m looking forward to not posting this data in a few months. The US is now averaging close to 2 million tests per … [Read More...]
Podcast links: how America invests
EpisodesJosh Brown talks with Ryan Barrows of Vanguard about ‘How America Invests.’ (thereformedbroker.com)Joe Weisenthal and Tracy Alloway talk with Corey Hoffstein about where quant goes from here. (bloomberg.com)Barry Ritholtz talks with Adam Karr, portfolio manager at Orbis Investments, about running an ‘unconstrained and concentrated fund.’ (ritholtz.com)Meb Faber talks multi-asset portfolios with Adrian Helfert of Westwood Group. (mebfaber.com)Tano Santos talks value investing with Mohnish Pabrai. (www8.gsb.columbia.edu)Eric Balchunas and Joel Weber recently spoke with Barry Ritholtz about pretty much everything including Bitcoin, Tesla and EVs. (ritholtz.com)Ted Seides talks with Frank Kinniry of Vanguard Group about its entry into private equity. (capitalallocatorspodcast.com)Cameron Passmore and Benjamin Felix talk MMT with Cullen Roche. (rationalreminder.ca)Howard Lindzon talks financial journalism with … [Read More...]
Newly installed senior counterintelligence official names China as top long-term threat
SOURCE: Yahoo News – Latest News & Headlines – Read entire story here.
Best Classic Westerns Available to Stream From Home
The Western, the motion picture category most closely associated with America, began capturing moviegoers’ imaginations just as the frontier itself was closing in the early part of the 20th century…. [Read More...]
Comments on December Existing Home Sales
Earlier: NAR: Existing-Home Sales Increased to 6.76 million in DecemberA few key points:1) This was the highest sales rate for December since 2004, and the 2nd highest sales for December on record. Some of the increase over the last several months was probably related to pent up demand from the shutdowns in March and April. Other reasons include record low mortgage rates, a move away from multi-family rentals, strong second home buying (to escape the high-density cities) and favorable demographics.The delay in the buying season has pushed the seasonally adjusted number to very high levels. For example, this number of sales, Not Seasonally Adjusted (NSA) in July, would have given a 5.3 million Seasonally Adjusted Annual Rate (SAAR), as opposed to 6.76 million SAAR. So the … [Read More...]
Friday links: the age of ETFs
MarketsThere are plenty of signs we are in a risk-on environment. (allstarcharts.com)How to measure investor sentiment using market prices. (capitalspectator.com)StrategyHypergrowth eventually ends. The stock market cares about how it ends. (theirrelevantinvestor.com)Drawdowns always look easier to handle on a chart than they are in real life. (compoundadvisors.com)CryptoHow to think about Bitcoin as a religion. (bloomberg.com)Five reasons why the SEC should approve a Bitcoin ETF. (bloomberg.com)MoviesThe fact that AMC Theaters ($AMC) hasn’t gone bankrupt yet is a minor miracle. (nytimes.com)Another wave of high profile movie delays is coming. (variety.com)Air travelCommercial air travel is way down in pandemic, but the private jet business is booming. (bloomberg.com)Everybody is just guessing about whether business travel will rebound post-pandemic. (wsj.com)SPACsSPACs generate … [Read More...]
UN agency: Libyan navy intercepts over 80 EU-bound migrants
SOURCE: Yahoo News – Latest News & Headlines – Read entire story here.
America’s 40 Most Delicious Beers
When it comes to beer, there’s nothing wrong with everyday thirst-quenching lager, readily available, easy to quaff, and usually inexpensive. Lovers of craft beer, though, look for something… [Read More...]
Friday: Existing Home Sales
Friday:• At 10:00 AM ET, Existing Home Sales for December from the National Association of Realtors (NAR). The consensus is for 6.55 million SAAR, down from 6.69 million.Housing economist Tom Lawler estimates the NAR will report sales of 6.62 million SAAR for December. [Read More...]
Longform links: desire’s greatest trick
Book excerptsAn excerpt from “The Plague Cycle: The Unending War Between Humanity and Infectious Disease” by Charles Kenny. (slate.com)An excerpt from “Beginners: The Curious Power of Lifelong Learning” by Tom Vanderbilt. (outsideonline.com)An excerpt from “This Is the Voice” by John Colapinto. (theguardian.com)Pandemic policyHow the U.S. set itself on path for failure during the pandemic. (nytimes.com)Operation Warp Speed was kind of working until it came to vaccine distribution. (politico.com)FoodLoss of sense of smell is a Covid side effect. What happens if you make your living by your nose? (wired.co.uk)A profile of chef Ángel León and his plan to save the sea. (time.com)Just how sustainable can Big Meat actually become? (ft.com)LongreadsHow Andreessen Horowitz transformed into a media company. (newcomer…. [Read More...]
McConnell threatens to block Senate’s power-sharing agreement if it doesn’t preserve the filibuster
SOURCE: Yahoo News – Latest News & Headlines – Read entire story here.
Hotels: Occupancy Rate Declined 31.8% Year-over-year
From CoStar: US Hotel Occupancy Exceeds 40% During Week of Jan. 16U.S. weekly hotel occupancy climbed back to the 40% mark, according to STR‘s latest data through 16 January.10-16 January 2021 (percentage change from comparable week in 2020):• Occupancy: 40.1% (-31.8%)• Average daily rate (ADR): US$89.39 (-31.9%)• evenue per available room (RevPAR): US$35.85 (-53.6%)emphasis addedThe following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.Click on graph for larger image.The red line is for 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels prior to 2020).Even when occupancy increases to 2009 levels, hotels will still be hurting.Seasonally we’d expect that business travel would … [Read More...]
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