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PREMIUM INSIGHT

3 Key Discussion Points Ahead Of Our Institutional Call On Pandora | $P

3 Key Discussion Points Ahead Of Our Institutional Call On Pandora | $P - Little pig cartoon

Pandora (P) is currently on our Internet & Media analyst Hesham Shaaban's Best Ideas List as a long. He is hosting a call today at 1pm ET to update his thesis and dissect the company's latest quarterly report. Here are the key discussion points.


Nonsense

Takeaway: The Fed nonsense is just starting to heat up.

Nonsense - Fed birdbrain cartoon 06.15.2015

 

There's a curious rhyme to Fed policy that's worth noting. Year-to-date, the Fed has pivoted from...

 

  1. Hawkish, December
  2. Dovish, March
  3. Hawkish, May
  4. Dovish, June
  5. Hawkish, July

 

Even more interesting is the effervescent hopes and dreams of most regional Fed governors about raising interest rates. That manifests most foolishly in San Francisco Fed head John Williams who forsaw as many as five rate hikes in 2016.

 

Nonsense - costanza

It doesn't end there...

 

Here's the latest nonsense from Dallas Fed president Robert Kaplan which reaffirms our #LowerForLonger call on interest rates:

 

8/25/16: Dallas Fed head Kaplan sees rate hike in the "not too distant future."

4/16/16Dallas Fed head Kaplan sees rate hike in the "not too distant future."

 

Nonsense - fed kaplan

Unfortunately...

 

Rather than studying the basic history of economic cycles, Fed officials are digging in their heels and clenching onto their dogmatic economic ideas. Central bankers from all over the world are dogpiling into Jackson Hole for this week's Fed-sponsored economic symposium. The theme of the meeting is "Designing Resilient Monetary Policy Frameworks For The Future."

 

In other words, if you're hoping the central planning will stop, don't hold your breath.


Poll of the Day: Where Would You LEAST Like To Wake Up & Find Yourself Today?

Takeaway: What do you think? Cast your vote. Let us know.


Early Look

daily macro intelligence

Relied upon by big institutional and individual investors across the world, this granular morning newsletter distills the latest and most vital market developments and insures that you are always in the know.

Another Buying Opportunity...

Takeaway: Own Long Bonds, Gold and Platinum? Get long #GrowthSlowing.

There have been plenty “buying opportunities” (why is it that they never call them that in the Long Bond or Gold?) this year. Gold was one of them yesterday as we tapped the low-end of my immediate-term risk range = $1319-1365.

 

Anything that’s not hawkish from Janet should be bearish for Bond Yields; bullish for Gold and Platinum. (Note: Gold and Platinum are up 25% and 22% year-to-date respectively.)

 

 

Editor's Note: The snippet above is from a note written by Hedgeye CEO Keith McCullough and sent to subscribers this morning. Click here to learn more. 

 

Want more? Watch Hedgeye CEO Keith McCullough in the video below explain why investors should be long Gold.

 


Daily Market Data Dump: Thursday

Takeaway: A closer look at global macro market developments.

Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, rates and bond spreads, key currency crosses, and commodities. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products

 

CLICK TO ENLARGE

 

Daily Market Data Dump: Thursday - equity markets 8 25

 

Daily Market Data Dump: Thursday - sector performance 8 25

 

Daily Market Data Dump: Thursday - volume 8 25

 

Daily Market Data Dump: Thursday - rates and spreads 8 25

 

Daily Market Data Dump: Thursday - currencies 8 25

 

Daily Market Data Dump: Thursday - commodities 8 25


CHART OF THE DAY | Housing: Return of the Jedi?

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more. 

 

"... Notwithstanding the noise (Old Wall’s Media trumpeted New Home Sales like the Return of The Jedi, and barely mentioned #GrowthSlowing in Existing ones) I have a few contextual points to make about US Housing:

 

A) Existing Home Sales make up 90% of the US Housing market (vs. New Homes at 10%)

B) A -1.6% year-over-year decline is the slowest rate of change in 23 months"

 

 

CHART OF THE DAY | Housing: Return of the Jedi? - 08.25.16 chart


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