I've mentioned Jim Chanos before in this blog, and he's out again with some telling examples of late stage 'exuberance'
While Mr. Chanos is almost never perfectly timed with the market's current mood, he is rarely wrong longer term.
http://www.bloomberg.com/news/videos/2016-06-15/chanos-easier-to-find-short-ideas-as-bull-market-goes-on
Wednesday, June 22, 2016
Monday, May 2, 2016
Cool tool - IBorrow shows you short stock availability and borrow rates
While reading one of the many blogs I follow I ran across this cool tool which I'd like to share with you:
https://www.iborrowdesk.com/
Interactive Brokers provides data showing borrow availability and the rate you'll pay to borrow the stock. Using this data however is a bit clunky. Fortunately IBorrow has come along allowing one to quickly pull up and visualize the data.
ht: Glenn Chan
https://www.iborrowdesk.com/
Interactive Brokers provides data showing borrow availability and the rate you'll pay to borrow the stock. Using this data however is a bit clunky. Fortunately IBorrow has come along allowing one to quickly pull up and visualize the data.
For those looking at option strategies, which broad based etf's to short, or other strategies, knowing the quantity and rate of shares available can be important. I suggest you give it a try.
ht: Glenn Chan
Friday, April 29, 2016
Never bet against The Chanos
Never bet against The Chanos
That may sound like an odd commandment, but it's a good one. I speak of Jim Chanos, the well known short seller. Speaking highly of a member of such a profession may raise the hackles of some individuals, as well as governments, but I have been following his public pronouncements for quite a while and he may be early, but very rarely wrong. Post the great recession of 2008-2009 he was one of the first to warn about the construction & credit bubbles percolating in China; and while ridiculed for it his warnings have played out.
I even have a google alert on "Jim Chanos" (along with quite a few others) so as to catch everything he talks about. Recently I got a hit on a great 90+ minute podcast he did with FT Alphaville.
Podcast: Jim Chanos on the art of short-selling
I suggest you listen to all of it.
That may sound like an odd commandment, but it's a good one. I speak of Jim Chanos, the well known short seller. Speaking highly of a member of such a profession may raise the hackles of some individuals, as well as governments, but I have been following his public pronouncements for quite a while and he may be early, but very rarely wrong. Post the great recession of 2008-2009 he was one of the first to warn about the construction & credit bubbles percolating in China; and while ridiculed for it his warnings have played out.
I even have a google alert on "Jim Chanos" (along with quite a few others) so as to catch everything he talks about. Recently I got a hit on a great 90+ minute podcast he did with FT Alphaville.
Podcast: Jim Chanos on the art of short-selling
I suggest you listen to all of it.
Monday, April 18, 2016
Hugh Hendry talking macro and China
It's been a while since I've mentioned Hugh Hendry but he's popped back up on YouTube recently. After his positively raucous returns in the depth of the crisis he had a long period of very underwhelming returns and from his manner in this broadcast I'd guess a tough few years.
ft.com describes the decline in assets under management in 2014
As always I find him entertaining to watch. He provides some of the reasons for his reversal of opinion on China as well. Regardless whether you agree with him or not I suggest you listen.
source: http://www.macrobusiness.com.au/2016/04/hugh-hendrys-long-dark-night-of-the-soul/
ft.com describes the decline in assets under management in 2014
As always I find him entertaining to watch. He provides some of the reasons for his reversal of opinion on China as well. Regardless whether you agree with him or not I suggest you listen.
source: http://www.macrobusiness.com.au/2016/04/hugh-hendrys-long-dark-night-of-the-soul/
Wednesday, March 9, 2016
US Coal - brutal fallout from low natural gas prices
I've recently posted on the drop in natural gas and oil prices, but I haven't commented much on the knock on effects. A brutal example is the destruction of coal companies in the US. Train car loadings of coal have completely fallen off a cliff, caught fire, and remain a smouldering ruin.
Look at some of the stock symbols for coal companies and you'll see declines even more severe. Here's BTU (Peabody Energy)
Low natural gas prices are encouraging a switch from coal to natural gas electricity generation
Look at some of the stock symbols for coal companies and you'll see declines even more severe. Here's BTU (Peabody Energy)
Low natural gas prices are encouraging a switch from coal to natural gas electricity generation
It is not a good time to be in the coal business
disclosure: No positions, either long or short.
Friday, March 4, 2016
Free delayed quotes and a plethora of other financial data
If you are looking to import quotes into an excel spreadsheet, I haven't found anything else as convenient or extensive. It can take you a while to get up to speed on the data available but it is worth it. The range of data available, for free, is mind boggling.
Here's just a sample of the data available from the Yahoo feed:
Basic Quote | Fundamentals | Technicals | Estimates | Real-Time (ECN) | |||||
Code | Description | Code | Description | Code | Description | Code | Description | Code | Description |
s | Symbol | j1 | Market Capitalization | a2 | Average Daily Volume | t8 | 1yr Target Price | k1 | Last Trade (ECN with Time) |
n | Name | f6 | Float Shares | t7 | Ticker Trend | e9 | EPS Est. Next Quarter | b3 | Bid (ECN) |
p | Previous Close | r5 | PEG Ratio | j | 52-week Low | e7 | EPS Est. Current Yr | b2 | Ask (ECN) |
o | Open | p5 | Price/Sales | j5 | Change From 52-week Low | e8 | EPS Est. Next Year | c6 | Change (ECN) |
h | High | p6 | Price/Book | j6 | Pct Chg From 52-week Low | r6 | Price/EPS Est. Current Yr | w4 | Day's Value Change (ECN) |
g | Low | b4 | Book Value | k | 52-week High | r7 | Price/EPS Est. Next Yr | c8 | After Hours Change (ECN) |
x | Exchange | r | P/E Ratio | k4 | Change From 52-week High | j3 | Market Cap (ECN) | ||
l1 | Last Trade (Price Only) | e | Earnings/Share | k5 | Pct Chg From 52-week High | r2 | P/E (ECN) | ||
l | Last Trade (With Time) | j4 | EBITDA | m3 | 50-day Moving Avg | k2 | Change & Percent (ECN) | ||
d1 | Date of Last Trade | s7 | Short Ratio | m7 | Change From 50-day Moving Avg | v7 | Holdings Value (ECN) | ||
t1 | Time of Last Trade | d | Dividend/Share | m8 | Pct Chg From 50-day Moving Avg | g5 | Holdings Gain & Percent (ECN) | ||
k3 | Last Trade Size | y | Dividend Yield | m4 | 200-day Moving Avg | g6 | Holdings Gain (ECN) | ||
c1 | Change | r1 | Dividend Pay Date | m5 | Change From 200-day Moving Avg | m2 | Day's Range (ECN) | ||
p2 | Percent Change | q | Ex-Dividend Date | m6 | Pct Chg From 200-day Moving Avg | i5 | Order Book (ECN) | ||
c | Change & Percent | ||||||||
v | Volume | Option Quote Additions | |||||||
m | Day's Range | Code | Description | ||||||
j | 52-week Low | o1 | Open interest? | ||||||
k | 52-week High | p3 | Type of option | ||||||
w | 52-week Range | e3 | Expiration date | ||||||
b | Bid | s3 | Strike price | ||||||
b6 | Bid Size | n | Name of option | ||||||
a | Ask | ||||||||
a5 | Ask Size |
note, the last trade quote is l1 (lowercase 'L' then the number '1') (that drove me nuts for a while)
here's how it looks in my spreadsheet =RCHGetYahooQuotes(+Z2,"l1")
This is only one small segment of the data, The full excel list of all the data points available can be found here: http://ogres-crypt.com/SMF/Elements/ and it is a truly phenominal amount of data. Yes, some of it is repetitive but if you are looking for data on a security, start here.
There's also an active message board if you have any questions on implementation:
Of course you can get one cell to refer to another, so one can populate quite a bit of data in a spreadsheet by just entering the symbol. Best part is it's all free.
I use the plug-in almost daily and would honestly be lost without it. I suggest you give it a try as well.
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