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...More seriously, Goetzman et al argue that art price changes are largely a function of wealth concentration....
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...They found that the standout stocks today are at much cheaper valuations than the stars of the 90s were, and while the valuations of the Magnificent 7 et al do look a lot like the “Nifties,” they tend to...
...But while demand may explain spreads, it does not justify them....
...Rob Armstrong, would you like to have a bet what the catalyst for hitting the record high was? Robert ArmstrongCould it possibly be Nvidia? Katie MartinIt may have had something to do with it....
...Wherever possible lies should be told about classes of people (Republicans, elites, big business, the media, et al) not specific individuals....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...The rap sheet for Binance covered a lot of ground, and I mean a lot of ground, like trades with North Korea, trades with Iran, trading with al-Qaeda, trading with Isis, involvement in the narcotics trade...
...al)....
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...Mauboussin: I co-authored a book with Al Rappaport in 2001 called Expectations Investing, and we dedicated a chapter to this topic called Real Options....
...It may be that markets are catching up to that idea,” said Al-Hussainy. It fits with the move in real rates rather than break-evens, too, and the strong news we have had from business investment....
...relationship between the development of capitalism and the evolution of democracy....
...So if a hedge fund shorts a stock before a placement, that alone may not suffice as proof of insider dealing....
...In the Taiwan-focused May 2023 edition of Brutus, I found concept stores and holes-in-the-wall I never knew existed, despite having spent several summers in Taipei over the past decade....
...Winning the tournament “is not at all an obsession”, according to Al-Khelaïfi....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...Bored of words, Ma et al. then tried numbers — roughly recreating the ratio of earnings revisions deployed above, but utilising forecasts of “earnings and other metrics” instead of just rating labels: We...
...Shares in other banks considered to have some degree of asset-liability mismatch (Western Alliance, Zions et al) only saw their shares wobble a little bit yesterday....
...Productivity-hype bubbles are usually separated by at least 25 years and usually form at the end of a secular bull market, when aggregate profits are coming under pressure, say Garthwaite et al....
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...To put it more simply: Jiang et al argue there are $2.2tn in mark-to-market losses out there, and there is only $2.2tn in equity in the US banking system....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
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