1. Black Tuesday October 29th 1929 The Dow Jones industrial average plummeted by 11% and 16 million shares were traded on one day. That was a record in itself. It took until 1954 for the average to get back to the pre-crash figure. There was a knock-on effect even back then and Canada lost 50% of…
Goldman Sachs on Thursday closed its recommendation that investors bet on higher copper prices, citing the belief that China would clamp down on the use of copper as a financing tool. Amid tight lending restrictions, some merchants in China imported copper to use as collateral. With state regulators set to implement new policies to curb…
The striking correlation between the current rampage in the Japanese stock market and that of 1987 is stunning. In 1987, the index had a remarkably smooth 89% rally that began in early November, lasted 186 days, and was followed by a 9.1% correction. Currently, the Nikkei 225 has had a remarkably smooth 85% rally that began in…
Given how many Christmas Cards are now not coming my way after I suggested that Gulf Keystone (GKP) may not be a buy anymore, I now have a tendency to look over my shoulder in the wake of going bearish on any private investor’S favourite. Not that I was the one who sold 17 million…
U.S. prosecutors are continuing the crackdown on insider trading, pursuing the hard line that has been their policy for the last ten years and giving a clear message to all professionals that sooner or later, perpetrators will be caught and subjected to hefty fines and possibly also to imprisonment. A lot of recent cases…
It’s fair to say that the UK economy remains sluggish, and the government’s austerity measures are unsurprisingly choking off a significant amount of GDP growth. Meanwhile, even balancing the budget in the UK seems an almost insurmountable task for this or any other government thanks to the mess the twin numpties of Balls & Brown…
The Nikkei 225 is now down 1500 points from its highs and down 1150 (over 7%) from yesterday’s close All the time it is just the quadrillion JPY second-largest bond market in the world that is experiencing volatility on an unprecedented scale, the BoJ and her partners in crime are more than willing to ‘officially’ say “please do…
We suggested a potential short on the Japanese market nearly 1500 points lower just over a week ago (can you believe) and we are now in full blown parabolic mode. The Japanese government and central bank seem to have finally found the magic ingredient for making money grown on trees…Mmmm… Intervention in financial markets has…
Inflation is hot property today, hyperinflation is even hotter! We think we are modern, contemporary, smart and ready to deal with anything. We’ve got that seen-it-all-before, been-there-done-it attitude. But, we are not a patch on what some countries have been through in the worst cases of hyperinflation in history. Here’s the top 10 list of…
It is amazing that after the best part of a year writing for Spreadbet Magazine, that I have touched upon almost every arena of the financial markets; even that that money can be lost as well as made! However, I have not yet touched upon the aspect which, is in some ways, the one that…
