evercore

This chart will tell you when the next stock market … – Business Insider

Are stocks in a bubble?Maybe. Maybe not. But this chart, from the folks at Evercore ISI — which we saw flagged on Twitter by Nick from the economics blog floatingpath.com — is pretty simple: The bubble is about to burst when Sotheby’s stock flies higher. Sotheby’s runs high-end auctions, and so the read-through here is that “smart people,” which you could also substitute […]

A Biotech Bottom?

By Ben LevisohnIt’s been a bad, bad week for biotech stocks. The iShares Nasdaq Biotech Index ETF (IBB) had dropped 9.3% this week through Thursday’s close, while Amgen (AMGN), Biogen Idec (BIIB), and Celgene (CELG) also suffered big losses. Evercore ISI’s Mark Schoenebaum notes that the valuations of big biotech companies is trading below that of the S&P 500 for only the […]