Market Analysis: Bad Breadth

DISCUSSION  The latest Cracked Market blog post highlights well the current buy-the-dip attitude of index-focused market participants.  Frankly, it's quite strange. A mere cursory look at underlying demand measures such as a basic 200dma breadth chart reveals an equity market that is carving out a textbook "negative divergence".  Whatever. The market will do what it … Continue reading Market Analysis: Bad Breadth

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Market Analysis: Ritholtz/”Down Town”/”Common Sense” Strike Again

Per usual, with the market up for more than 60 seconds the "Ritholtz/"Down Town"/"Common Sense" buy-the-dippers are out in force declaring those who care about valuation and that increasingly esoteric "margin of safety" concept out of touch. The "Common Sense" leg of the less-than-$600 million AUM trifecta that makes up Ritholtz Wealth Management, on August … Continue reading Market Analysis: Ritholtz/”Down Town”/”Common Sense” Strike Again

“Digital platforms force a rethink in competition theory” (FT)

Great FT article on how to think about monopolistic power in the digital platform age. Pre-digital v. digital (my emphasis): "In pre-digital days, the question an economist would ask is whether the efficiencies gained by big or merging companies would be passed on to consumers in the form of lower prices. Another key question was … Continue reading “Digital platforms force a rethink in competition theory” (FT)

17 Mile 2.0 Strategy Note 6

17 Mile 2.0 Strategy Note 6 August 18, 2017 PORTFOLIO ACTIVITY Since August 3, positions in VIAB, TEVA, TRVG and EGN were initiated (VIAB was a re-initiation); the SNI position was closed; and the SPY short position maxed out. As of today's activity, the portfolio looks as follows: Longs: 100% SPY Hedge: 100% DISCUSSION With … Continue reading 17 Mile 2.0 Strategy Note 6