Leighton Holdings FPO & Rio Tinto – Updated Daily

The Daily Reckoning

To Him that Hath

By Bill Bonner. “What is this art really worth? We calculated earlier this week that if you wanted to look at Monet’s painting of Waterloo Bridge you could get a print for nothing. Or, you could pay $35 million for the real thing.”

Class Based Taxes

By Bill Bonner. “Rich people pay most of the taxes in the United States, it is true, but not all of them pay as high a percentage of their incomes as those less rich than them.”

Private Equity Pulls a Fast One

By Bill Bonner. “When we first heard about it, we guessed that the two premises of private equity were more vanity than reality. What they really did was to put one over on the investing public…”

FOMC in Fairytale Land

By Chris Gaffney. “This is what has been termed a ‘Goldilocks’ economy, not too hot, but not too cold. I would agree only to the point that our current FOMC seems to be living in a fairytale land!”

Heavenly Bubble – or Hellish Bust?

By Bill Bonner. “When the devil finally gets his due, it is likely to come as very unpleasant to many people. In the long run, of course, it is God’s world. But even He likes to see us get a good kick in the seat of the pants from time to time.”

Pathological Consumption

By Addison Wiggin. “If you quit your job and refinance your home, you could live for a while on the money. The higher your equity, the longer you would be able to spend, spend, spend. But then what?”

Elliott Wave International NewsWire

European Stocks: No S-PAIN, No Gain?

The main engine of Spain’s economic growth has been real estate. In the 12 months ending March 2007, home prices rose by a national average of 7.2%. But there is an integral stage of every mania in which warnings from the professionals go unheeded by the public. Is that time at hand in Spain? Read on…

Special Report: Can This Indicator Improve Your Trading?

What many traders find helpful in dealing with hope and fear — two primal emotions deeply seated in human nature — are technical market indicators. It’s much easier to stay with a winner or close a loser if the indicators you trust are telling you so. Elliott Wave International’s Tom Denham takes a close look at one such tool, the 50-percent retracement indicator, in the Special Report of his just-published, July issue of the monthly European Financial Forecast. Read on…

Market Watch: A Creeping Realization

The conviction held by Ben Bernanke and other market authorities — that the subprime/CDO debt debacle would be limited to a small sector of the U.S. housing market — has been reappraised, and may prove mistaken. Across the pond in the UK, financial media are bearing down on the story, gradually peeling the covers off a mounting credit crisis. In the U.S. media, everything’s still cool: Party on…

Market Watch: How Can You Use the Tax Revolt Indicator?

What is written every day in the financial media suggests that most people believe that economic and political events move the stock market. But some market veterans observe that events seem to “cast their shadow from the future,” making the stock market appear to lead the way. They attribute that to “smart money” correctly guessing future events. What is leading what? Read on…

Forex: “Stick To Your Guns” (Free Video)

FREE VIDEO. On Thursday (June 28) the Federal Reserve did the expected and left the all-important U.S. unchanged yet again. The forex markets reacted rather erratically to the the Fed’s announcement: At first, the U.S. dollar got stronger, but then lost big in the overnight trading session. That initial dip probably shook many of traders out of their dollar longs and confused them about the direction of the larger trend in the euro/dollar and other currency pairs. But not everyone was confused. Watch this free video, where Elliott Wave International’s Chief Currency Strategist, Jim Martens, discusses the action in the forex markets around the time of the Fed’s announcement on June 28.

The Last Great Southern California Housing Slump

According to some monthly data providers, median prices in Los Angeles County are still chugging upward, despite the steep drop in sales volume evident for over a year. So will prices stay levitated? If not, what will the market participants say and do as the slump progresses? The last time Los Angeles and much of Southern California experienced a housing downturn that came anywhere near being described as “ugly” started about 1988, and for the most part was a memory by late 1997. A review of local newspaper archives can tell us much, but only if the content is examined with socionomic eyes….

InvestorsInsight: Financial Intelligence for Informed Investors

Mauldin's Outside The Box – Knights of the Round Table: Mapping out the Markets

This week in a very special Outside the Box we have an investment outlook tour de force. My friend and South African business partner Dr. Prieur du Plessis gathered a group of some of the more interesting investment managers in the industry…

Thoughts From The Frontline – $250 Billion in Subprime Losses?

Is the subprime mortgage market collapsing before our eyes, or did we avoid a disaster as Bear Stearns stepped up to the plate with $3.2 billion to help its ailing funds?

What We Now Know – Week of 06/26/2007


Shadow Statistics
Gold Shares in a Crashing U.S. Stock Market
Remote-Controlled Humans

Forecasts & Trends – Goodbye To Alternative Investments For Many?

The SEC plans to hike the “accredited investor” net worth requirement from the current $1 million net worth (including your home) to $2.5 million (excluding your home), and this change could happen any day now…

RightSide Advisors News Feed

200 Day Moving Average Support

The latest in technical analysis on the Qs

Eagle Materials Still Flying High / Illinois Tool Isnt Working

Chairman of Eagle Materials buys $14 million in shares

Bill DAlonzo: High on PCP

DAlonzo buys over $167 million of Precision Castparts

Resistance Continues.

The latest in technical analysis on the Q’s.

Thornburg Mortgage: Is Wall Street knocking at the door?

CEO of TMA buys $2.2 million in shares.

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