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Kyle Spencer  

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  • Chinese tech stocks surge; CQQQ +11.1% [View news story]
    WHAT "market"?
    Jul 9, 2015. 01:15 PM | 1 Like Like |Link to Comment
  • On the hour [View news story]
    It's important to remain focused on what's important.

    The most important piece of news in the past few weeks is the $4 trillion and counting in value wiped off of Chinese exchanges - everything else is noise - 51% of shares halted - a nation of momentum investors wiped out - The majority of stocks in any national market are owned domestically - Beijing ignored - state capitalism has no intrinsic magical powers - shorter term, a 1999 style crash - no one talking about TPP.

    Differentiate between signal and noise.
    Jul 8, 2015. 11:49 AM | 1 Like Like |Link to Comment
  • Chinese tech stocks crater; many names down over 10% [View news story]
    Only 25% of margin positions have been unwound. Expect more blood.
    Jul 8, 2015. 01:42 AM | 4 Likes Like |Link to Comment
  • Merkel: Greece needs to do more; summit on Sunday [View news story]
    Kneel before Zod.
    Jul 7, 2015. 06:01 PM | Likes Like |Link to Comment
  • Shock expressed as Greece has no new plan [View news story]
    "According to a third eurozone official, Greece will instead present its new plan tomorrow, Peter Spiegel, the FT's Brussels bureau chief, reports.

    This comes after the chairman of the euro ministers' meeting, Dutch finance chief Jeroen Dijsselbloem, said he needs Athens to present a "credible" economic package in order for Greece to be worthy of more aid.

    The lack of a new plan shocked eurozone finance ministers meeting in Brussels, angering several in the room, officials said."

    I would have left Dijsselbloem out of the loop too. Next to Wolfgang Schäuble, he's the least sympathetic ear in Europe.
    Jul 7, 2015. 12:55 PM | Likes Like |Link to Comment
  • Greece gets a new finance minister [View news story]
    just read the instructions,

    "the maturity of most of the bonds are already extended. Noone believes that the Greek state can ever payback their debts. They are in reality already written down."

    Sure. But the problem is that Angela Merkel can't tell the German people that.

    "Greek had not resolved their internal issues for the last 20 years."

    You think they're just being stubborn? ;)

    "They lived in a "virtual economy" with a living standard that was not based on their own economy and a goverment that was "run" be a few family to maximize their profit."

    These entities you mention almost universally back the Troika's plan.

    "I would recommend to be cautious with words like "debt slavery"."

    I can arrange similar terms for you: Let's assume you make $900 a week on an hourly basis, and I give you $35,000 at 5% to pay down debt, but only on the condition that you work 1 hour less each week that you owe me the interest + principle. If you can't pay, you're my slave. What are the odds of you becoming my slave?

    "Who is master, who is slave?"

    Raise your hand if you're confused about whether or not Germany holds the whip. Anyone.
    Jul 6, 2015. 08:30 PM | 2 Likes Like |Link to Comment
  • Greece gets a new finance minister [View news story]
    If you hit yourself in the head over and over again with a hammer and then you suddenly stop, you're going to feel better. That doesn't mean that hitting yourself in the head with a hammer is a recipe for good health. The data doesn't have to be uniformly negative for the overall trend to point down.
    Jul 6, 2015. 08:09 PM | 4 Likes Like |Link to Comment
  • Greece gets a new finance minister [View news story]
    91% or thereabouts to creditors.
    Jul 6, 2015. 08:07 PM | 1 Like Like |Link to Comment
  • Greece gets a new finance minister [View news story]
    "Therefore they will keep insisting on credible reforms and difficult measures to make the Greek economy productive and money earning."

    You might have a point if austerity actually worked; but it doesn't, so you don't. The real-world result isn't a "productive" and "money earning" Greek economy, it's debt slavery. The only viable option is to either drastically extend the maturity on Greece's bonds or write down a significant chunk of the debt outright - both options being economically, if not politically, identical.
    Jul 6, 2015. 04:18 PM | 4 Likes Like |Link to Comment
  • Greece gets a new finance minister [View news story]

    The ECB just swung the axe.
    Jul 6, 2015. 02:25 PM | Likes Like |Link to Comment
  • A New Deal For Greece [View article]

    I'd like to add that it's a bit late in the day for the IMF to wake up to the fact that implementing austerity during a depression shrinks the economy faster than it reduces debt. In Greece's case, it's not even "better late than never". In fact, the only likely reason for the IMF's negotiating team to mention the Emperor's lack of clothes at all is *because* Berlin is going to make an example of Greece and the IMF doesn't want to be associated with the optics.
    Jul 6, 2015. 12:44 PM | Likes Like |Link to Comment
  • The Chinese bear keeps growling [View news story]
    "Anything to do with government sanctioned and partially owned?"


    In fact, Beijing is -as we speak- actively defending blue chip A shares at this time...and Beijing is *losing*...
    Jul 3, 2015. 09:33 PM | 2 Likes Like |Link to Comment
  • My Bet On Seeking Alpha's Future [View article]
    Congrats, Eli!
    Jul 3, 2015. 09:26 PM | Likes Like |Link to Comment
  • At the close [View news story]
    You should really get some new sources of information. Annual gold production is a fraction of your stated $4 trillion figure, about $960 billion. I hate to rain on your parade, but the Fed isn't going to economically dislocate $4 trillion in order to achieve a market outcome that could be achieved simply by announcing an interest in the metal. In short, the Fed doesn't possess a gold bug's view of the world and financial policy. While this removes your favorite investment from the center of the universe, it is nevertheless an accurate description of the situation on the ground. Regardless of what you've convinced yourself, gold doesn't need X-files Smoking Man type conspiracies in order to rise or fall. It just doesn't. It's just not the nature of the thing you're talking about. The Fed isn't afraid of gold.
    Jun 30, 2015. 11:54 PM | 2 Likes Like |Link to Comment
  • China's stock market value tops $10T [View news story]
    "Made in China" is a misnomer, "Made in ASEAN, assembled in China" is the reality.
    Jun 14, 2015. 12:30 PM | 4 Likes Like |Link to Comment