By Ben LevisohnBiotech stocks like Gilead Sciences (GILD) and Amgen (AMGN) have been a great place to be for investors. Now, the approval of the first biosimilar in the U.S. is raising concerns that biotech profits will decline–and causing their stocks to tumble. Citigroup’s Andrew Baum and team explain why:
Bloomberg News
Approval of Sandoz’s Zarxio, with full extrapolation across indications and lack […]
Dear Reader,My forecasts for the foreign exchange markets are almost coming true. USD/YEN is already above 120 and EUR/USD is close to 1.05.I still expect US stock markets to sell off in 2015 nearly 20% from the current levels measured by the main indices. Tech and biotech stocks should fall 30% from the current levels. US nonpublic and some public […]
Since 2008, the ultra-wealthy have been bidding up their own assets, deluding themselves that the fabricated valuations they place on them are real.Momentum bubble visualized:Sales / Price: The amount of revenue for each dollar invested in stocks:http://www.multpl.com/s-p-500-price-to-salesData from WSJ:One year ago, 41 private venture start-ups were valued at $1 billion or more. Now, 75 companies are valued above $1 billion. […]
Since 2008, the ultra-wealthy have been bidding up their own assets, deluding themselves that the fabricated valuations they place on them are real.Momentum bubble visualized:Sales / Price: The amount of revenue for each dollar invested in stocks:http://www.multpl.com/s-p-500-price-to-salesData from WSJ:One year ago, 41 private venture start-ups were valued at $1 billion or more. Now, 75 companies are valued above $1 billion. […]
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Trading Day Review: Thursday 5 March 2015
See which stocks are being affected by Social Media
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China growth slashed, more epically dismal US data, lack of clarity from Draghi, slumping oil prices, dropping yields, surging USD… now if that isn’t a recipe for buying US equities at record highs, we don’t know what is…Stocks close unchanged from ECB…And on the day only Trannies closed red (even as oil tumbled) thanks to an aftenoon push higher…On the […]
Stocks put in a modest rally Thursday, lead again by biotechs and high quality growth names. Trading volume was light, however, indicating a modest shift – not a mad rush. This is very evident in the intraday action – or lack thereof. This shift into quality names – however slow it may be – is becoming persistent. It isn’t providing […]
If you put money in stocks at just about any point in the past six years, you’re probably pretty happy.America is in the midst of the fourth longest stock market expansion in history.Monday marks the six-year anniversary of the day the S&P 500 hit its low point after the financial crisis. Since then, the index has risen over 200%.But that […]
Just over a year ago, we warned that while the world of speculative capital is focused intently on the Twitter and Facebook #Ref/0 fundamental valuations in the publicly-traded equity markets, the real dot-com 2.0 bubble is occurring in the private markets. Few paid attention, prefering the head in the sand “well the music is still playing” meme; but one (or […]
