“Perhaps both will want to snap up the USD1bn in a new bankrupt stock offering from a US car rental company whose name tells you everything about how silly this market is: so silly it hertz.“

“I have to say that I have never seen a Debtor petition the court for permission to sell equity to idiots, er, investors….WHILE IN BANKRUPTCY!”

“The Most Absurd Moment In The History Of Capital Markets”: Hertz Plans To Sell Up To $1 Billion In New Bankrupt Stock

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“…seven years of college down the drain.” – John “Bluto” Blutarsky, Animal House

The inspiration and credit for this article belongs to Emil Kalinowski and his recent publication The Silent Depression: Trundling Is the New Booming.

Most profound about Kalinowski’s piece is that it was published just eight days prior to the February 19 S&P 500 market peak. Mr. Kalinowski’s article highlights the same problem that we have been discussing for many months now. That issue is how the media, Wall Street’s “finest,” and Ph.D. economists misrepresent economic conditions.

Their economic euphemisms and overly optimistic expectations remind us of a Dylan Grice quote “Linguistic precision yields cognitive precision.” Or, put a little differently, linguistic imprecision yields stupidity.

In this piece we explore monetary policy and the role it plays in economic growth. Read More

Billionaire investor Ron Baron believes there’s still plenty of room for growth for Elon Musk’s Tesla and SpaceX companies.

Baron said Tuesday morning on “Squawk Box” that he believes “there’s 10 times more to go” with Tesla. He also said SpaceX, a privately held company, will grow by a multiple of 20 in the next 10 years. He previously predicted similar growth for Tesla.

The Nasdaq-100 recently hit record highs and the S&P 500 is almost all the way back to its pre-coronavirus slump record.

Some market segments and the related exchange-traded funds are doing even better than those broader benchmarks. At the sector level, technology and health care maintain leadership perches and there are signs of life in some previously lagging sectors.

Those green shoots are important, but some ETFs, many of which have ties to oil, are getting absolutely drubbed in 2020. The 10 worst-performing non-leveraged ETFs this year are sporting losses ranging from around 44% to just over 72%. Many are a direct play on crude.

Here’s a trio that are getting crushed, but a couple are recently rebounding…CLICK for complete article