• Economy & Politics
  • Investing
  • Personal Finance
  • Related Posts

    ‘Playboy’ To Stop Publishing Nude Photos
    TWTR Up 5% On Major Job Cuts, Lowered Guidance
    Why It May Be Time To Cut Your Losses On The S&P 500
    How Many Paid For Apple Music When It Was No Longer Free?
    Strong Dollar Eats Into J&J Quarterly Sales
    How We’ll Clean Up Riding This Historic M&A Wave
    Intel’s New Chip Tech Will Revitalize Earnings
    Trouble Ahead: Stocks Gain, but the “Super Crash” Is Accelerating
    Why Doug Kass Shorted Apple
    Could The Market Crash? Here’s What You Need To Know NOW!
    Stocks, Awaiting Earnings Tomorrow, Set For Pause After Big Rally Last Week
    Eli Lilly Ends Drug Development; Shares Plunge
    Only One CEO Tops Jobs For ‘Monster’ Returns
    Etsy Sellers Doubt Amazon Handmade Is A “Killer”
    Stock Futures Little Changed Ahead Of Busy Earnings Week

    How The Market Is Like CYNK (Which Was Just Halted)

    For all the drama and comedy surrounding the epic idiocy in which a bunch of “investors” took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK’s epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. “Ignore the collapsing volumes sending the stock market to all time high – it’s perfectly normal” is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.

    Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal’s cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another “all is clear; don’t pull your deposits please” note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.

    Deutsche Bank’s Jim Reid explains:

    Click to read the full story

    Discuss this Story:

    Comment Policy: We encourage open discussion. Comments including racist statements, profanity, name calling or spam will be removed at our discretion. We use filters for spam protection. If your comment does not appear it is likely because it violates the policy.

    The Oldest Trick In The Book: Here Is How Johnson & Johnson’s “Beat Earnings” Despite Sliding Revenues
    Inspired By Game Of Thrones, TEPCO Resumes Building ‘Ice Wall’ Around Fukushima
    ‘We’ve Never Seen Anything Like This’ — Dumbfounded Central Bankers Brace For ‘Rolling Series Of Crises’
    Rarely Enforced SEC Rules May Give Green Light To Earnings Manipulation
    Gold Prices Retreat After Week-long Rally
    Dollar Slips Against Yen As Risk Appetite Wanes After China Data
    Failure Is Just The Beginning: Lessons In Innovation From GE, Google, And Intel
    Why The CNN Democratic Debate Will Be As Useless As The GOP’s
    The Biggest Culprit In VW’s Emissions Scandal
    Scientists Discovered 200 New Species In The Himalayas—And We’re Slowly Killing Them All
    China—Not Online Porn—Is Why Playboy Is Dumping Nude Photographs
    GE To Sell $30 Billion Specialty Finance Business To Wells Fargo
    Twitter To Cut Up To 8 Percent Of Global Workforce
    Oil Steady On IEA Report, U.S. Output Forecast
    EMC To Pay Dell $2 Billion If It Opts For Higher Bid In Go-shop Period
    Stock Futures Fall On Weak China Trade Data
    Citi Dials Down Risky Block Trading Amid Market Turmoil
    Investment Firm Fortress To Shutter Its Macro Hedge Fund
    Why The Price Of Gold Hit A 7-Week High Yesterday
    What OPEC’s New Romance With Russia Means For Oil Prices
    Why Gold Is Surging: BofA Says To Expect A ‘Massive Policy Shift In 2016’
    Ruble, Lira, & Ringgit Tumble On USD, Yuan Gains As PBOC States “China Correction Nearly Over”
    Six Takeaways From Dell-EMC Deal
    Gross V. PIMCO: The Star Fund Manager Cult Is Dead, And That’s A Good Thing.
    Four Signs That Silicon Valley’s Tech Bubble Is Bursting
    The Chinese Government Just Issued A Draft Law That Bodes Poorly For Uber
    Falling Commodity Prices A Boon For Some
    The Best Time To Take A Work Break
    WSJ, Barrons Hacked; CEO Warns Of Wider Plot
    Your Smart Home Knows A Lot About You
    Read more from Investing...

    Liberty Investor Digest

    Get today's most important
    financial headlines all in
    one place by email!



    Sign Up For Liberty Investor Digest™!

    Get Liberty Investor Digest FREE By Email!

    Input your name and email address in the fields below and get today's most important financial headlines sent straight to you inbox!

    Privacy PolicyYou can opt-out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.