Tag: Investment outlook

Marshall Auerback: Apple Has an Early Case of GE’s Disease

By Marshall Auerback, a market analyst. Produced by the Independent Media Institute The boom witnessed in the U.S. equity market over the past few years has begun to echo the latter stages of the high tech bubble of the early 2000s, right down to the investor interest ultimately gravitating toward […]

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Michael Olenick: Update Confirms That Share Buybacks Are Still Corporate Suicide

In 2017, INSEAD published a study by Robert Ayres, an INSEAD Emeritus Professor of Economics and Political Science and Technology Management, and Michael Olenick, an Institute Executive Fellow which looked at all buybacks for US companies over the prior 20 years, discarding firms not in business when the study was done, not in business five […]

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Richard Murphy: Stock Markets Look Ever More Like Ponzi Schemes

Yves here. Many commentators have written about how companies are increasingly more concerned with the business of managing their stock prices than the business of their business. We commented on this sorry development early on, in a 2005 Conference Board Review article, The Incredible Shrinking Corporation. Richard Murphy gives a particularly clear and terse explanation […]

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Wolf Richter: Riskiest Junk Bonds Completely Blow Off the Fed, Face “Sudden” Reckoning

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street. High-grade corporate bonds are “gradually” – the key word in everything the Fed says – and reluctantly coming to grips with the new era: Yields are rising and bond prices are […]

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Finally: SEC Frets about Share Buybacks, “Torrent of Corporate Trading Dominating the Market” and “Short-Term Financial Engineering”

Yves here. A Republican SEC commissioner criticizes share buybacks…and where have the Democrats been on this issue? Too busy giving speeches to Goldman to take notice, it seems. Mind you, one robin does not make a spring. But it is a disgrace that share buybacks have been given a free pass for so long. But […]

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