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

    Is The ‘Easy’ Money Over For European Stocks?
    For Caterpillar The Depression Has Never Been Worse… But It Has A Cunning Plan How To Deal With It
    Warren Buffett Stocks To Ditch In 2015
    What Are The Stock Buyback Benefits For Investors?
    What The $16.6 Billion Nokia Merger Means For Investors Today
    Gap Cuts Full-year Profit Forecast As Dollar Weighs
    Home Depot & Lowes Avoid The Retail Bloodbath With Strong Earnings
    It’s REIT Time: Stock Up Durable Dividends Now
    Starboard Asks Yahoo To Drop Alibaba Stake Spinoff Plans
    Best Buy Comparable Sales Miss On Low Demand For Mobile Devices
    U.S. Stocks Gain Ground As Fed Minutes Loom
    Pandora’s Answer To Spotify And Apple Music Might Be Too Late
    ConAgra To Spin Off Frozen-potato Business
    Pick Up Triple-Digit Gains With This Tech Stock In Disguise

    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.

    Europe Cracks Down On Bitcoin, Virtual Currencies To “Curb Terrorism Funding”
    A Modest Proposal: All Companies Should Shut Down At Age 18
    Star Wars Could Break Box Office Records After This News
    Leave Bitcoin Alone. Abolish Cash Instead.
    What UnitedHealth Doesn’t Mean For Obamacare
    This Could Be The Next Weapon Of Mass Destruction
    The Eerie Link Between The Federal Reserve And The Sinking Of The Titanic
    New Salmon Is The First GM Animal Approved For Sale As Food
    Wal-Mart Scrimped On Hiring As Store Space Grew Rapidly
    Aetna Says Individual Obamacare Business Performing As Expected
    Oil Trades Near Three-month Low As Excess Supply Takes Toll
    Number Of $5 Billion-plus Takeover Deals Hits Record
    Investor Gabelli Joins Millennials Cutting The Cable Cord
    This Is How GOLD Acted During Past Rising Rate Cycles
    Tumbling Treasury Yields Signal Possible Fed ‘Policy Error’ Being Priced In
    WTI Tumbles Back Below $40, Goldman Warns Risk Of “Sharp Leg Lower”
    Former Subway Pitchman Jared Fogle Is About To Be Sentenced
    This Is The Biggest Diamond Found In More Than A Century
    What ISIS ‘Blood Oil’ Really Means For Oil Markets
    The Day Before Thanksgiving Actually Isn’t The Busiest Time To Fly
    Gender Equality Is Now Better In Rwanda Than In The US
    Anonymous Could Hobble ISIS By Hacking PlayStation Consoles
    The Best Advice If You Find Yourself In A Terror Attack: Do Not Play Dead
    Not Much Evidence Mass Surveillance Works
    A Global Financial Literacy Test Finds That Just 57% Of Adults In U.S. Are Financially Literate
    Oil Slides Again As Focus Returns To Heavy Glut
    Stock Futures Rise After Fed Minutes Soothe Investor Nerves
    U.S. Consumers Favor Amazon For Online Holiday Shopping
    Pfizer-Allergan Talks Accelerate Amid New Inversion Clamp-down
    Soothing Fed Sounds Send Shares, Emerging Markets Higher
    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.