Monthly Archives: April 2011

Who’s really benefitting from QE?

Posted on April 28, 2011 by Donald Stoltz

I stole a couple of charts from a presentation Cullen recently gave to the CFA Society in Alabama and posted them below (presentation to follow shortly). There is no disputing that QE has inflated equity prices (see chart below of the M1 … Continue reading →

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Hunt Brother’s 2.0?

Posted on April 28, 2011 by Donald Stoltz

Silver has gone parabolic since last August climbing a staggering 175%.  The gold/silver ratio has moved from 66 to 31 highlighting the massive the out-performance to gold.  One way to visually see how violent this move has been is to look at how far silver … Continue reading →

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Random thoughts from 9-Mar-11

Posted on April 27, 2011 by Donald Stoltz

Per Variant Perception, the ISM at 20-year highs yet Fed is focused on lagging indicators (i.e. core inflation).  Momentum is slowing and the ISM is by nature mean reverting – it is changes that tend to lead to stock market … Continue reading →

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“I can’t eat an iPad” – March 2011 Recap

Posted on April 11, 2011 by Donald Stoltz

Quote of the Month “I can’t eat an iPad.” – Attendee response to NY Fed President William Dudley’s speech suggesting inflation is not a concern since consumers can buy an iPad 2.0 at the same cost as the original iPad … Continue reading →

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PIMCO Investment Outlook – April 2011

Posted on April 4, 2011 by Donald Stoltz

It’s always entertaining to see what the $1.25t man has to say, especially when his $240b flagship fund (PTTRX) is trying to get their treasury holding down to zero has fast as possible.  Below is a chart from his most recent … Continue reading →

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