Everyone is bullish - that seems a bit overdone at this point.
Tax Trap - Watch-out!
Economic data remains strong - jobs data showing weakness (JOLTS)
Bond yields sink - herd mentality and Fed bulls working it.
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- So many bulls! Deafening.... (we know what that usually means..)
- A new book for young investors - can we discuss or still a secret?
- China - credit rating issue
- My favorite charade,, scheme, scam of 2023
Market Update
- Gold at all-time high!
- Bitcoin Update - Moving
- Alt assets picking up - good or bad?
- Big money into Money markets - watch out for this trap
Bitcoin
- Bitcoin hit $44,000 on Tuesday, its highest in almost a year and a half, fueled by bets that U.S. regulators will soon approve stock-market traded bitcoin funds.
- Bitcoin is up 55% from the year's low of $26,533 on Oct. 11.
- UP 165% YTD
- Still way off record high of $69k - Nov 2021
Gold
- Hitting ATH
-- Reasons?? Risk -off or USD sinking?
- Gold miners ETF still 10% below 2023 peak
--- Time to buy?
Rare Earth Metals
- Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones and other electronics.
- China began to rapidly expand in the industry starting during the 1980s and now controls 87% of global rare earths refining capacity
- US spots in Alaska and other western states starting to look for ways to mine - in "clean" and efficient manner
- FYI - RARE is not really rare
- Considered RARE only due to difficulty in extraction process
- These elements rarely exist in pure form; they are usually found within other minerals, making them costly to mine.
Oil Prices
- Now Sitting at $72
--- OPEC+ can't seem to agree and now concern demand waning
CHINA
- Ratings agency Moody's downgraded its outlook on China's government credit ratings to negative from stable
- Moody's expects Beijing's support and possible bailouts for distressed local governments and state-owned enterprises to diminish China's fiscal, economic and institutional strength.
- Moody's though retained China's "A1" long-term rating on the country's sovereign bonds,
- Seems like this is going to be happening for a while - rolling downgrades of countries with excessive debt
Canada
- Greater Toronto Area home prices fell in November as higher borrowing costs crimped affordability, while the level of sales edged higher for the first time in six months
- The seasonally adjusted average home price fell 2.2% in November from October to C$1,104,062 ($815,769), marking the fourth decline in the last five months.
- New listings climbed 16.5% year-over-year but decelerating from the 38% pace of increase posted in October.
Switzerland
- A major Swiss bank admitted to conspiring with U.S. taxpayers and others to hide over $5.6 billion from the Internal Revenue Service
- Banque Pictet, the private banking division of the 218-year-old Pictet Group, will pay about $122.9 million in restitution and penalties as part of an agreement with prosecutors
- Where does that money go?
- Between 2008 and 2014, the bank had 1,637 accounts on behalf of American clients, who collectively evaded approximately $50.6 million in U.S. taxes, the DOJ said.
- The accounts themselves held more than $5.6 billion of the roughly $20 billion in total assets from U.S. taxpayers that the bank managed during the relevant period.
----- Does taxpayer have to pay anything?
- Swiss banks are not so special anymore...
VIX and Gamma
- An epic rally in U.S. stocks has sent Wall Street's fear gauge to a post-pandemic low.
Tax Trap - Watch-out!
Economic data remains strong - jobs data showing weakness (JOLTS)
Bond yields sink - herd mentality and Fed bulls working it.
PLUS we are now on Spotify and Amazon Music/Podcasts!
Click HERE for Show Notes and Links
DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.
Love the Show? Then how about a Donation?
Follow John C. Dvorak on Twitter
Follow Andrew Horowitz on Twitter
Warm Up
- So many bulls! Deafening.... (we know what that usually means..)
- A new book for young investors - can we discuss or still a secret?
- China - credit rating issue
- My favorite charade,, scheme, scam of 2023
Market Update
- Gold at all-time high!
- Bitcoin Update - Moving
- Alt assets picking up - good or bad?
- Big money into Money markets - watch out for this trap
Bitcoin
- Bitcoin hit $44,000 on Tuesday, its highest in almost a year and a half, fueled by bets that U.S. regulators will soon approve stock-market traded bitcoin funds.
- Bitcoin is up 55% from the year's low of $26,533 on Oct. 11.
- UP 165% YTD
- Still way off record high of $69k - Nov 2021
Gold
- Hitting ATH
-- Reasons?? Risk -off or USD sinking?
- Gold miners ETF still 10% below 2023 peak
--- Time to buy?
Rare Earth Metals
- Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones and other electronics.
- China began to rapidly expand in the industry starting during the 1980s and now controls 87% of global rare earths refining capacity
- US spots in Alaska and other western states starting to look for ways to mine - in "clean" and efficient manner
- FYI - RARE is not really rare
- Considered RARE only due to difficulty in extraction process
- These elements rarely exist in pure form; they are usually found within other minerals, making them costly to mine.
Oil Prices
- Now Sitting at $72
--- OPEC+ can't seem to agree and now concern demand waning
CHINA
- Ratings agency Moody's downgraded its outlook on China's government credit ratings to negative from stable
- Moody's expects Beijing's support and possible bailouts for distressed local governments and state-owned enterprises to diminish China's fiscal, economic and institutional strength.
- Moody's though retained China's "A1" long-term rating on the country's sovereign bonds,
- Seems like this is going to be happening for a while - rolling downgrades of countries with excessive debt
Canada
- Greater Toronto Area home prices fell in November as higher borrowing costs crimped affordability, while the level of sales edged higher for the first time in six months
- The seasonally adjusted average home price fell 2.2% in November from October to C$1,104,062 ($815,769), marking the fourth decline in the last five months.
- New listings climbed 16.5% year-over-year but decelerating from the 38% pace of increase posted in October.
Switzerland
- A major Swiss bank admitted to conspiring with U.S. taxpayers and others to hide over $5.6 billion from the Internal Revenue Service
- Banque Pictet, the private banking division of the 218-year-old Pictet Group, will pay about $122.9 million in restitution and penalties as part of an agreement with prosecutors
- Where does that money go?
- Between 2008 and 2014, the bank had 1,637 accounts on behalf of American clients, who collectively evaded approximately $50.6 million in U.S. taxes, the DOJ said.
- The accounts themselves held more than $5.6 billion of the roughly $20 billion in total assets from U.S. taxpayers that the bank managed during the relevant period.
----- Does taxpayer have to pay anything?
- Swiss banks are not so special anymore...
VIX and Gamma
- An epic rally in U.S. stocks has sent Wall Street's fear gauge to a post-pandemic low.
Activity