Seeking Alpha

Lawrence Fuller

 
View as an RSS Feed
View Lawrence Fuller's Articles BY TICKER:
  • Of Course The Market Is Rigged!
    Fri, Apr. 11 DIA, SPY, QQQ 55 Comments

    Summary

    • High-frequency trading (HFT) is the most dominant and manipulative force in our markets today.
    • Its impact poses significant risks to market structure and investor psychology.
    • Practical solutions that address these risks will ultimately come from the free market.
    • Expect significant market volatility and a reversal of the upward bias HFT has had on stock prices as its influence wanes.
  • Yellen Opens Six-Month Gate
    Fri, Mar. 28 DIA, SPY, QQQ 31 Comments

    Summary

    • Janet Yellen's reference to a six-month time frame for increasing short-term interest rates sent the stock market reeling.
    • The consensus has concluded that the continued selling pressure in stocks that followed is a result of slowing economic growth in China and the ongoing crisis in Ukraine.
    • The real reason that stocks are under pressure is the increasing amounts of reverse repos being conducted by the Fed under its Reverse Repo Facility.
  • The Evolution Of Quantitative Easing - A House Of Cards
    Fri, Mar. 21 DIA, SPY, QQQ 37 Comments

    Summary

    • While QE policy has evolved over the past five years, it has never been successful in achieving the Fed's mandate.
    • QE3 was a turning point in the policy when Bernanke abandoned the lending channel and specifically targeted the stock market.
    • Using the stock market as a catalyst for economic growth and job creation has been unsuccessful.
    • The combination of QE with zero-interest-rate policy (ZIRP) over the past 5 years has led to tremendous leverage in risk assets.
    • The tapering of QE3 combined with the end of ZIRP will lead to an unwinding of that leverage and realign risk assets with the economic fundamentals.
  • A Tale Of Two Economies And A Market That Doesn't Care
    Fri, Mar. 7 DIA, SPY, QQQ 36 Comments

    Summary

    • The US is comprised of two economies and the historic divide between the two continues to grow.
    • The disparity between the market's uptrend and the downtrend in disposable income is not sustainable.
    • Fed policy has encouraged companies to pursue short-term profits in lieu of long-term growth that widens this divide.
    • There will be another re-pricing of risk assets that reflects the underlying strength of the whole economy.
  • The Fed's Money Mirage
    Jun. 24, 2013 VWO, SPY 11 Comments
  • The Fed's Third Mandate
    Editors' Pick • Jun. 13, 2013 DIA, SPY, QQQ 45 Comments
  • Where The Bubbles Lurk Today
    May. 24, 2013 SPY 6 Comments
  • An Investment Strategy For The Bears
    May. 17, 2013 SPY, VWO 17 Comments
  • The Good News, The Bad News And What's Very Ugly
    Editors' Pick • May. 10, 2013 SPY 254 Comments
  • The Wedge Between Perception And Reality
    Editors' Pick • May. 5, 2013 SPY 49 Comments
  • A Discussion With Managers That Know How To Hedge
    Apr. 29, 2013 SH, SPY, HDGE 28 Comments
  • This Summer Slowdown Will Be Different Than The Previous 3
    Apr. 28, 2013 SPY, DIA, QQQ 124 Comments
  • The Fundamentals Are Starting To Matter
    Apr. 22, 2013 DIA, SPY 73 Comments
  • The Fundamentals Don't Matter Anymore
    Apr. 14, 2013 SPY, IVV, VOO 133 Comments
  • S&P 500 Earnings - Don't Conflate The Numbers
    Apr. 11, 2013 SPY 8 Comments
  • David Stockman: Don't Shoot The Messenger
    Apr. 5, 2013 IWM, SPY 46 Comments
  • Is This The Finish Line, Or Are We Just Getting Started?
    Apr. 1, 2013 IVV, VOO, RSP 2 Comments
  • Bernanke's Bull And Why I Hate QE
    Mar. 27, 2013 SPY 128 Comments
  • Discretionary Investing
    Editors' Pick • Mar. 19, 2013 XLY, XRT, SPY 4 Comments
  • This Is A Very Good Time To HDGE
    Mar. 19, 2013 HDGE 15 Comments
  • Don't Be Misled By The Employment Report
    Mar. 10, 2013 SPY 35 Comments
  • Will The Real EPS Please Stand Up
    Feb. 27, 2013 BA, GM, HON 8 Comments
  • Sorry Bulls, But This Is Still A Secular Bear Market
    Feb. 25, 2013 SPY 81 Comments
  • Dear Chairman Bernanke...
    Feb. 15, 2013 HYG, JNK, SPY 85 Comments
  • As Stock Prices Continue To Rise, Earnings Continue To Decline
    Editors' Pick • Feb. 10, 2013 SH, RWM, SPY 87 Comments
  • The Looming Recession In Corporate Profits
    Feb. 6, 2013 SPY 8 Comments
  • 2013 Market Outlook: Optimism Must Be Grounded In Realism
    Feb. 2, 2013 SPY, DIA, QQQ 9 Comments