by Wolf Richter • • Comments Off on The Smart Money Quietly Abandons The Housing Market
National averages paper over gritty details on the ground and are a crummy indicator as to what is happening in specific metro areas. But even with this caveat, a national average suddenly sounded an alarm for the housing market: the smart money is bailing out.
by Wolf Richter • • Comments Off on Without Them, The Housing ‘Recovery’ Remains A Sham
First-time buyers, a powerful economic energy, create real demand and make the housing market grow. We’ve been praying for their arrival like we’ve been praying for rain in parched California. But the more we pray, the fewer there are.
by Wolf Richter • • Comments Off on IPO Highflyer Hits Sidewalk After Smart Money Bails Out
The IPO scene is sizzling: 25 pre-IPO startups, dogged by puny revenues and hefty losses, have “valuations” from $1 billion to $10 billion. But post-IPO debacles, even in the immensely hyped Cloud and Big Data sector, are already hitting the sidewalk.
by Wolf Richter • • Comments Off on Stinking Corporate Revenues, Desperately Doctored Earnings-Per-Share
Last quarter was tough on large US corporations – those in the S&P 500 index. Unperturbed, the index soared all year. But its 343 companies that have reported so far have exposed the ugly underbelly of the worldwide economy: revenue “growth.”
by Wolf Richter • • Comments Off on Cracks In The Tech Bubble (That Doesn’t Exist)
It’s “a technology everyone is going to have,” said a Bay Area real estate broker as he explained why realtors use drones to shoot aerial videos of high-end properties. And it’s illegal. But no one is going to be able to stop it, he implied.
by Wolf Richter • • Comments Off on Stocks Plunge: ‘And This Too Shall Pass,’ Or Something
The last stock-market bears have gone into hibernation, browbeaten and humiliated and ridiculed by years of brilliant rallies. Clinging to their analyses and the now silly notion that stocks should trade based on economic realities, they lost clients and money and their jobs.
by Wolf Richter • • Comments Off on What To Expect From Fed Chair Yellen In One Cartoon
Monday is Janet Yellen’s first day on the job as Chair of the Federal Reserve, and so, all wishful thinking aside, it’s crucial that we obtain, one way or the other, a clear picture of what her glorious tenure will look like.
by Wolf Richter • • Comments Off on Icahn’s “No-Brainer” Goes To Heck (Manipulation Works Only Most Of The Time)
Carl Icahn must have tossed and turned Monday night, after the Apple debacle. Reeling from his losses, he was out there on Tuesday hyping the stock with all his might. They’re all doing it, from Warren Buffett on down, guys with billions of play-money and a loud voice.
by Wolf Richter • • Comments Off on How to Manipulate the Entire IPO Market With Just $250 Million
Tech isn’t exactly booming, as we’ve seen from numerous revenue and earnings debacles, collapsing sales in China and Russia, massive layoffs…. But that hasn’t kept “valuations” of money-losing tech startups from being pushed into the stratosphere – for the benefit of a very elite club.
