To The Moon

U.S. stocks erased earlier heavy losses in morning trading. Nasdaq rose 0.24%; Dow Jones fell 0.39% 

UBS cut Moelis & Company price target from $54 to $40. Moelis shares rose 3% to close at $40.84 on T

Brent, WTI fall $1 before recouping losses to rise on MondayOPEC output in June fell 100,000 bpd to

I want to short banks for two main reasons: The flat yield curve cuts their current income They are actually boosting earnings now by bringing back previous loan loss reserves but they will soon have to start adding to reserves. These are two huge factors for the banking sector and will increasingly weigh on the banking sector. They basically sum up the two major income streams for banks.The shape of the yield curve is a proxy for bank profitability. Most of banking profits come from, as they say, borrowing short and lending long.Translated into English that means that they get most of the money they lend from the short end of the yield curve but most of their lending goes to longer maturities.I worked as the treasurer of a Swiss Bank in one of my past lives. My job was to make sure that t

Berkshire Hathaway's equity portfolio is suffering a $65 billion hit so far in the second quarter, l

Bitcoin and other cryptocurrencies tumbled on Sunday, with losses for the asset class building over