Short-seller Citron Capital and Andrew Left charged with stock fraud.
Interesting timing because yesterday I was thinking that we are in the long or short pump-and-dump season that precedes a late market Bull cycle crash. My thoughts were focused on the SEC budget and if there was sufficient funding to challenge the HB&B fraudsters — the ones who write glowing Buy reports on ultra-high P/E stocks their friends and families want to sell.
Let’s see what they can get done with the Andrew Left prosecution. Then hopefully they have the balls to go after HB&B and the popular newsletter writers. These reprobates all play the same game.
But, Bloomberg TV has reported that of the approx. one-third of reporting companies this quarter so far, fifty-seven percent failed to meet or beat Wall Street. revenue forecasts. That’s the worst result in three or four years
Some, like Ford (F), have been terrible with EV sales and losses an absolute disaster. As Kaimu might say, the WEF greenwashing is turning red.
I would like to remind people that there are excellent ideas to be had daily at [email protected]
The challenges that exist in financial markets today are possibly greater than ever in my 40-plus years of professional experience and almost 20 more years as a private investor.
The amount of so-called investment and trading advice offered today is overwhelming, but the majority is unhelpful and probably promotional content you must avoid.
Oh my. How humbling to read this. Thank you so much Bill. I have increased the discount for annual subscriptions for the Cara Community as a thank you. The link for 40% discount https://nyugrad.substack.com/billcara
It is $144 per yr. comes to 39 cents per day. I realize there are many choices for financial content and I would welcome anyone from this community!
Great list. Some are new to me. But I have been trading in and out of WPM. Mostly because I got in late. It has been a great performer outside of the actual physical prices. I will share out this list and credit you.
Why are Bitcoin and Precious Metals under extreme selling pressure this week?
I believe that HB&B and the Fed are about to weaken the USD, which they need to incentivize foreign purchases of US securities and prevent a market collapse.
Interesting that Sprott gives a sparkling promo for Gold when it is getting hammered.
As per Sprott:
Sprott Gold Report – U.S. Dollar: Decline and Fall
Gold’s breakout may signify more than one might infer from the continuing lack of interest. We believe the window of opportunity to position this sector on attractive investment terms is beginning to narrow quickly.
By John Hathaway, Managing Partner, Senior Portfolio Manager
Q2 GDP is reported to have grown at the annual rate of 2.8%, up from 1.2% Q1 growth and well ahead of the 2.0% growth that had been anticipated on Wall Street,
With Wall Street telling us that inflation is falling simultaneously, the recent steep decline in stock prices is likely over, and a state of bullishness will return, at least for a few months.
Investors who are in for the long haul like this small company—the product, business model, and management all excel—and they liked today’s report.
From Yahoo:
“ProStar’s innovative PointMan solution has established us as a leader in the infrastructure industry’s digital transformation,” said Page Tucker, CEO of ProStar. “We have experienced consecutive record-breaking quarters, signing 27 new clients in Q2 alone, which represents an 18.5% sequential growth from Q1 and a remarkable 900% YoY increase from Q2 2023. Our growing client base, now including major industry leaders like PCL, Walsh, and Haskell, underscores the market’s trust in our technology. With our solution now fully developed, we have shifted focus to a sales-centric approach, significantly reducing operational overhead and paving the way to profitability. We are confident in our future growth and value creation for our shareholders.”
I have written up the company many times here over the past two or three years, knowing it would take years to crack the marketplace with the stock to follow.
Oil & Gas stocks hold up today as Tech takes the market lower.
It is interesting that soaring Big Tech P/E multiples have taken the S&P P/E to a level that is almost 50% higher than the UK, Europe, and Canada. But remove the top ten Tech from this equation, and the S&P P/E multiple is very close to in-line with other major markets.
I would advise against trying to catch a falling knife with these inflated P/E stocks, but there is a lot of value elsewhere in this market. I like Energy and Metals.
The world’s largest Goldminer, Newmont (NEM), beats analysts’ estimates, as expected.
On an adjusted basis, the Denver, Colorado-based company posted a profit of 72 cents per share for the April-June quarter, compared with analysts’ estimates of 62 cents, according to LSEG data.
The Bank of Canada cut its policy rate by 25 basis points for the second straight month, bringing it to 4.5%.
This decision, while essential to helping stem the weakening Canadian economy, and reduce mortgage costs, will also surely further weaken the Canadian Dollar.
IMO, they have created a false sense of demand. The new models look like rebadged Toyotas….So What have they done lately. I heard supply chain issues for some parts is what most are claiming, but seems like a white rabbit to me…Maybe they see demand falling sharp soon…time will tell…
$dxy….20 years of dollar break outs up..Except for maybe one time that pesky 08….I would wait too confirm here that this is not another buying opp…Money printing says this thing is worth about .01 on the face, but that will happen very quickly some day as a black swan event. For now, wait for your sign to sell the greenies…This is not a time for hope it will, let it tell you it will. A flase break up with a solid sell would be ideal for me here..LOL
Tesla has reported disappointing EV revenues and the lowest profit margins In five years. Carbon credit sales are now the bulk of earnings. Analyst Sell recommendations have been popping up. What I find most interesting, however, is the investment vs speculation discussion underway today as more thought is being given to understanding the timing and value of Tesla’s driverless taxi, robotics, and energy business components. Rightly so, because the closer we get to a market bear, the more these intangibles will come under the microscope.
BTC is not a popular subject but the digital miner’s have been quite favorable for me… Will introduce a new miner whose revenues are more than Riot and CleanSpark, with far, far less debt, and more hash power… Share count is minimal
The fact that the Bitcoin conference will host both Trump and Harris is evidence of crypto’s importance today.
As long as there is (1) counter-party debt against Bitcoin (2) establishment control over the ETFs, and (3) threat of electricity shortages to production and trading and hence to market stability, my choice as a US Dollar hedge will remain Gold bullion and related markets.
But the crypto miners are popular. Despite the disappointing stock performance over the past three-plus years, Riot Platforms (RIOT) is still a member of the Cara 100.
Agreed….have for years advocated hydrogen power for miners…when infrastructure is built out, costs could be manageable…also for use in massive data centers…* at the end of 2025 Riot will have the most projected’ hash power ‘ of any public traded digital miner…
Miner BTC treasuries will rank in top 3 stats…. so until I can get a solid BTC production mined vs. BTC kept percentage, I will not invest in newer miners
As I noted a few days ago, the mortgage lending small banks are seemingly defying catastrophic CRE loan losses as investors are watching their growing share prices. My point was to be closely monitoring deposits instead of share prices.
Today, Barchart tweeted that banks in India have taken on $51.4 billion in short-term loans to cover for deposit withdrawals. Most often, band-aids do not work for long in critical injury circumstances.
Interesting comments about something that’s on all our minds.
David Kotok, co-founder and chief investment advisor of Cumberland Advisors, published the following comment today. I clipped it short as he went off the rails, discussing how financial markets point to a GOP presidency and majority in both houses.
US Gov. Debt: $35 Trillion & Counting?
July 23, 2024
David R. Kotok
Co-Founder and Chief Investment Officer
The US debt aggregate is about to cross $35 trillion; the vocal anti-debt Republicans have become silent; the Republican platform and the Republican National Convention essentially ignored government debt. Does anyone remember the Speaker McCarthy-President Biden debt standoff and the debt ceiling fight? IMO, McCarthy did the right thing to resolve the issue. Note that the “Crazy 8” House Members who organized the ouster of Speaker McCarthy are now fewer in number.
Here’s a column from Yahoo Finance on the state of this issue today as the Trump-Vance campaign advances in this election year:
The US is in a dire financial situation, but world debt is also at crucial levels. Unlike the US, many countries do not have the economic strength or growth to sustain the spending deficits and debt levels they are at today. Many country failures will precede the US’s. Ultimately, the US will fail as well. Gold is a secure investment.
For June, not a single line item in the Treasury’s monthly statement was larger than the $140 billion interest expense. It was larger than either the Social Security Administration ($129 billion), Department of Health and Human Services ($90 billion), Department of Education ($87 billion) or Department of Defense ($63 billion).
Republicans are anti-debt? Trump added 8.4 Trillion in his four-year term. I remember at the time, it was said that he added more than all of the previous Presidents combined.
Aloha! Here are the stats on US Debt going back to Clinton.
One major issue that no other Presidents had to contend with during Trump years was the pandemic and during that time the Democrat Congress took advantage of the “crisis” as usual to jack up spending and therefore more debt. What was it Covid-19 Stimulus? All those PPP loans that the US Treasury lost $14bil. They’re still wasting huge amounts of taxpayer dollars policing the poorly executed spending Bill. No, none of the Presidents have the ability to be the sole debtor. Congress does most of it for them. Every US President submits a budget. Have you seen Biden’s 2025 Budget? Tax on unrealized gains! Anyone here want to live in that world?
Do the math its not $8.4tril, its $7.81tril. If you do the math for Obama it was $9.33tril over eight years. Bush over eight years was $4.9tril, half of what Obama did. Bush had the Iraq War and Obama had the HB&B War, but neither ever had to deal with a total shut down of the entire US economy to accommodate the Fauci fake covid science! Certain States decided to stay closed like California and New York and a few like Florida and Texas said no.
Here is the LINK for my numbers. Where is the $8.4tril link? Occupy Democrats memes on TikTok don’t count.
In the end gold and silver are insurance against stupid corrupt governments and their fiat currencies. Such physical assets need no electricity or internet to be viable alternatives to banana republics and hurricanes.
Ok, I am off by 0.6T. The proposed tax on unrealized cap gains is supposed to apply with individuals with net worth over $100M, that safely counts me out.
Long-game investors will find solid results in the Uranium industry.
The Sprott company’s fundamental research on uranium is excellent. However, young investors, including money managers, should be aware of Sprott’s history of encouraging purchases in overheated markets. Stick with the macroeconomic facts they provide and enter the uranium market on weakness with a buy-and-hold mindset.
Short-seller Citron Capital and Andrew Left charged with stock fraud.
Interesting timing because yesterday I was thinking that we are in the long or short pump-and-dump season that precedes a late market Bull cycle crash. My thoughts were focused on the SEC budget and if there was sufficient funding to challenge the HB&B fraudsters — the ones who write glowing Buy reports on ultra-high P/E stocks their friends and families want to sell.
Let’s see what they can get done with the Andrew Left prosecution. Then hopefully they have the balls to go after HB&B and the popular newsletter writers. These reprobates all play the same game.
PCE Price index indicates lower inflation.
Another positive for markets.
The S&P 500 Bull run continues today.
But, Bloomberg TV has reported that of the approx. one-third of reporting companies this quarter so far, fifty-seven percent failed to meet or beat Wall Street. revenue forecasts. That’s the worst result in three or four years
Some, like Ford (F), have been terrible with EV sales and losses an absolute disaster. As Kaimu might say, the WEF greenwashing is turning red.
The biotech run is starting
Look at the 6 month charts of EBS and SIGA… These are what I term ‘ disaster stocks ‘… what’s happening globally….?
Throw Vxrt in there also
Today…https://investorplace.com/2024/07/viking-therapeutics-vktx-stock-pops-on-plans-to-start-late-stage-weight-loss-drug-trials/…… And competitor ALT >
https://finance.yahoo.com/news/altimmune-announces-publication-clinical-study-113000462.html
Is there an ETF you favor for these? Most the ones I looked at are mostly up 13-20% YTD so far.
Not really… with the nature of biotech I need quick entry and exiting… don’t use them
I would like to remind people that there are excellent ideas to be had daily at [email protected]
The challenges that exist in financial markets today are possibly greater than ever in my 40-plus years of professional experience and almost 20 more years as a private investor.
The amount of so-called investment and trading advice offered today is overwhelming, but the majority is unhelpful and probably promotional content you must avoid.
Oh my. How humbling to read this. Thank you so much Bill. I have increased the discount for annual subscriptions for the Cara Community as a thank you. The link for 40% discount https://nyugrad.substack.com/billcara
It is $144 per yr. comes to 39 cents per day. I realize there are many choices for financial content and I would welcome anyone from this community!
Asset protection against a US financial system re-set must include leading precious metal miners.
A good selection of Goldminers:
A good selection of Silverminers:
My choice of Precious Metals Developers:
There are many others I will add to these lists, but my core positions will be in these stocks.
Great list. Some are new to me. But I have been trading in and out of WPM. Mostly because I got in late. It has been a great performer outside of the actual physical prices. I will share out this list and credit you.
US financial system re-set coming.
The US is truly insolvent, so the Dollar is under pressure. Precious metals (and Bitcoin) are effective hedges.
Barchart (@Barchart) posted: U.S. will pay $1.14 Trillion in interest payments on debt this year, equivalent to 76% of all income taxes collected.
https://x.com/barchart/status/1815979449717850577?s=51&t=wbu6KdG0NVYrOJCOTt2-Cw
Why are Bitcoin and Precious Metals under extreme selling pressure this week?
I believe that HB&B and the Fed are about to weaken the USD, which they need to incentivize foreign purchases of US securities and prevent a market collapse.
NQ closing in on 8 month support line…Squeeze those cheeks boys and hold on if you a bull. BOTS coming for ya…..
Interesting that Sprott gives a sparkling promo for Gold when it is getting hammered.
As per Sprott:
The market action: 2475 to 2365 in a week!
A strong US GDP report is a boost for stocks.
Q2 GDP is reported to have grown at the annual rate of 2.8%, up from 1.2% Q1 growth and well ahead of the 2.0% growth that had been anticipated on Wall Street,
https://www.investing.com/economic-calendar/gdp-375
With Wall Street telling us that inflation is falling simultaneously, the recent steep decline in stock prices is likely over, and a state of bullishness will return, at least for a few months.
ProStar Holdings (MAPS.v) was up over +10% today.
Investors who are in for the long haul like this small company—the product, business model, and management all excel—and they liked today’s report.
From Yahoo:
I have written up the company many times here over the past two or three years, knowing it would take years to crack the marketplace with the stock to follow.
Oil & Gas stocks hold up today as Tech takes the market lower.
It is interesting that soaring Big Tech P/E multiples have taken the S&P P/E to a level that is almost 50% higher than the UK, Europe, and Canada. But remove the top ten Tech from this equation, and the S&P P/E multiple is very close to in-line with other major markets.
I would advise against trying to catch a falling knife with these inflated P/E stocks, but there is a lot of value elsewhere in this market. I like Energy and Metals.
The world’s largest Goldminer, Newmont (NEM), beats analysts’ estimates, as expected.
On an adjusted basis, the Denver, Colorado-based company posted a profit of 72 cents per share for the April-June quarter, compared with analysts’ estimates of 62 cents, according to LSEG data.
https://finance.yahoo.com/news/newmont-q2-earnings-snapshot-201836112.html
The Bank of Canada cut its policy rate by 25 basis points for the second straight month, bringing it to 4.5%.
This decision, while essential to helping stem the weakening Canadian economy, and reduce mortgage costs, will also surely further weaken the Canadian Dollar.
New Gold IOnc (NGD) reported a fatality at its Rainy River Mine this morning.
https://www.prnewswire.com/news-releases/new-gold-reports-fatality-at-the-rainy-river-mine-302205500.html
June 19th I said sell a little higher..Hopefully some of you are catching on…LOL
Why are wait times so long for Toyota/Lexus cars?
Our son in Toronto ordered a new Sienna 8-passenger hybrid model with a 1 year wait time. I have read that the wait may be much longer.
https://www.reddit.com/r/Sienna/comments/1e2ll4u/2024_toyota_sienna_wait_times/
Pat’s brother on Vancouver Island ordered a Lexus Luxury Coupe with a 1.5-year wait time.
IMO, they have created a false sense of demand. The new models look like rebadged Toyotas….So What have they done lately. I heard supply chain issues for some parts is what most are claiming, but seems like a white rabbit to me…Maybe they see demand falling sharp soon…time will tell…
Zuckerberg says Meta’s new, powerful, customizable Llama 3.1 AI may become more popular by year-end than the latest OpenAI model.
$dxy….20 years of dollar break outs up..Except for maybe one time that pesky 08….I would wait too confirm here that this is not another buying opp…Money printing says this thing is worth about .01 on the face, but that will happen very quickly some day as a black swan event. For now, wait for your sign to sell the greenies…This is not a time for hope it will, let it tell you it will. A flase break up with a solid sell would be ideal for me here..LOL
Tesla (TSLA) is under the microscope today.
Tesla has reported disappointing EV revenues and the lowest profit margins In five years. Carbon credit sales are now the bulk of earnings. Analyst Sell recommendations have been popping up. What I find most interesting, however, is the investment vs speculation discussion underway today as more thought is being given to understanding the timing and value of Tesla’s driverless taxi, robotics, and energy business components. Rightly so, because the closer we get to a market bear, the more these intangibles will come under the microscope.
TSLA plunged -12.5% from yesterday’s close.
More to come.
BTC is not a popular subject but the digital miner’s have been quite favorable for me… Will introduce a new miner whose revenues are more than Riot and CleanSpark, with far, far less debt, and more hash power… Share count is minimal
The fact that the Bitcoin conference will host both Trump and Harris is evidence of crypto’s importance today.
As long as there is (1) counter-party debt against Bitcoin (2) establishment control over the ETFs, and (3) threat of electricity shortages to production and trading and hence to market stability, my choice as a US Dollar hedge will remain Gold bullion and related markets.
But the crypto miners are popular. Despite the disappointing stock performance over the past three-plus years, Riot Platforms (RIOT) is still a member of the Cara 100.
Agreed….have for years advocated hydrogen power for miners…when infrastructure is built out, costs could be manageable…also for use in massive data centers…* at the end of 2025 Riot will have the most projected’ hash power ‘ of any public traded digital miner…
Miner BTC treasuries will rank in top 3 stats…. so until I can get a solid BTC production mined vs. BTC kept percentage, I will not invest in newer miners
Watching for bank deposit withdrawals.
As I noted a few days ago, the mortgage lending small banks are seemingly defying catastrophic CRE loan losses as investors are watching their growing share prices. My point was to be closely monitoring deposits instead of share prices.
Today, Barchart tweeted that banks in India have taken on $51.4 billion in short-term loans to cover for deposit withdrawals. Most often, band-aids do not work for long in critical injury circumstances.
Interesting comments about something that’s on all our minds.
David Kotok, co-founder and chief investment advisor of Cumberland Advisors, published the following comment today. I clipped it short as he went off the rails, discussing how financial markets point to a GOP presidency and majority in both houses.
The US is in a dire financial situation, but world debt is also at crucial levels. Unlike the US, many countries do not have the economic strength or growth to sustain the spending deficits and debt levels they are at today. Many country failures will precede the US’s. Ultimately, the US will fail as well. Gold is a secure investment.
For June, not a single line item in the Treasury’s monthly statement was larger than the $140 billion interest expense. It was larger than either the Social Security Administration ($129 billion), Department of Health and Human Services ($90 billion), Department of Education ($87 billion) or Department of Defense ($63 billion).
https://x.com/RealEJAntoni/status/1811462798171639965
Republicans are anti-debt? Trump added 8.4 Trillion in his four-year term. I remember at the time, it was said that he added more than all of the previous Presidents combined.
I added to my stack of Canadian silver Maple Leafs; ordinarily I would buy gold but somehow 2500+ (including premium) bothers me.
Aloha!
Here are the stats on US Debt going back to Clinton.
One major issue that no other Presidents had to contend with during Trump years was the pandemic and during that time the Democrat Congress took advantage of the “crisis” as usual to jack up spending and therefore more debt. What was it Covid-19 Stimulus? All those PPP loans that the US Treasury lost $14bil. They’re still wasting huge amounts of taxpayer dollars policing the poorly executed spending Bill. No, none of the Presidents have the ability to be the sole debtor. Congress does most of it for them. Every US President submits a budget. Have you seen Biden’s 2025 Budget? Tax on unrealized gains! Anyone here want to live in that world?
Do the math its not $8.4tril, its $7.81tril. If you do the math for Obama it was $9.33tril over eight years. Bush over eight years was $4.9tril, half of what Obama did. Bush had the Iraq War and Obama had the HB&B War, but neither ever had to deal with a total shut down of the entire US economy to accommodate the Fauci fake covid science! Certain States decided to stay closed like California and New York and a few like Florida and Texas said no.
Here is the LINK for my numbers. Where is the $8.4tril link? Occupy Democrats memes on TikTok don’t count.
In the end gold and silver are insurance against stupid corrupt governments and their fiat currencies. Such physical assets need no electricity or internet to be viable alternatives to banana republics and hurricanes.
Ok, I am off by 0.6T. The proposed tax on unrealized cap gains is supposed to apply with individuals with net worth over $100M, that safely counts me out.
Long-game investors will find solid results in the Uranium industry.
The Sprott company’s fundamental research on uranium is excellent. However, young investors, including money managers, should be aware of Sprott’s history of encouraging purchases in overheated markets. Stick with the macroeconomic facts they provide and enter the uranium market on weakness with a buy-and-hold mindset.