FINANCIAL ICEBERG
Always consider hidden risks



Jean-Pierre Desloges CFA  is a professional  investment consultant/ blogger/ trader with over 25 years of experience working on the buy and sell-side.

​​I have researched and invested in traditional and alternative asset classes and worked at Pensions Funds, International Banks and Dealers.   
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Market Insight​

April 15

US Technical Charts Potpourri
​​The SP500 Index into a dead cat bounce phase as the trade war perceived risk recede last week

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) trading worst than US stocks mainly on bank stocks

Global Asset Allocation Update: The Certainty of Uncertainty

The Fed Is Behind

Why We May Be Headed For Another ‘Minsky Moment’


​​​
​​April 8

US Technical Charts Potpourri
​The SP500 Index back into the uncertainty zone as the official trade war began last week

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) trading better than US stocks mainly on oil stocks.

The Battle Between Strong Earnings and Trade War Fears Is On
​But just because the water on the surface is choppy doesn’t mean that the currents beneath are turbulent

April Macro Update: Markets Might Be Wobbly But The Economy Is Fine
​The macro data from the past month continues to mostly point to positive growth

A Presidential Bump (In The Road) For Stocks?
​Historically, the next 2 quarters represent the worst 2-quarter stretch for stocks in the entire Presidential Cycle.

COT Blue: Which BOND ROUT!!!! Was It Really?

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​​April 1

US Technical Charts Potpourri
​Technology stocks underperforming the SP500 lately

Canadian Technical Charts Potpourri
​​Canadian Markets way less volatile than US peers as less technology stocks within the stock indices

Smart Beta Institute Warns Against Smart Beta
​Hidden risks are stuffed into factor-tilted products — whether allocators see them or not

Putting Margin Debt Fear and Hype Into Context
​...borrowings for stock purchases have been hitting new records in tandem...

The Stock Market’s Most Popular ETF Puts In A Long-Term ‘Spinning Top’

​​​
​​March 25

US Technical Charts Potpourri
​The SP500 Index back into the uncertainty zone as Powell more hawkish tone and the trade war fears increased

Canadian Technical Charts Potpourri
​Canadian stocks way less volatile than US stocks lately

Is Volatility Back On The Rise?
​Short-term volatility expectations took a dramatic spike higher Monday

Why Big Tech Is Not As Flush As It Looks
​The result is that balance sheet leverage among big tech is higher than ever before

Jerome Powell: 'Some Asset Prices Are at Elevated Levels'

Why Are Governments Creating Their Own Cryptocurrencies?
​Regardless of the reasoning behind a country’s move to create a national coin, it’s clear that interest is growing

​​
​​March 18

US Technical Charts Potpourri
​US Political Risk Index at a 15 year high

Canadian Technical Charts Potpourri
Canada and Mexico being apart into the steel tariff war gives a short term ​relief for the ​​Canadian Markets
​​
Household Stock Exposure Inches Closer To Dotcom Record
​The percentage households’ financial assets currently invested in stocks has surged further, now exceeded only by the blow-off portion of the 2000 dotcom bubble.

How The Passive Investing Mania Undermined Its Most Basic Assumption, Part Deux
​The rise of passive investing in the bond market has been at least as dramatic as that in equities thus the efficiency of the market is weaker than ever before.

COT Blue: A Decade of Weird
​UST bond futures tend to become very popular leading up to some of the worst moments of the last two decades

​​​
​​March 11

​​US Technical Charts Potpourri
​The SP500 Index had finally some good news last week; a strong employment number with a weaker than expected average weekly earnings report​

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) trading lower mainly on oil stocks.

March Macro Update: Nine Years Into the Recovery, Recession Risk Remains Low
​The macro data from the past month continues to mostly point to positive growth. On balance, the evidence suggests the imminent onset of a recession is unlikely.

Global Asset Allocation Update: Tariffs Don’t Warrant A Change…Yet

Goldilocks And The Liquidity Bears

Letting The Chips Rise Where They May
​After setting its all-time high during the dotcom bubble, 18 years later — to the day — the PHLX Semiconductor Index is finally scoring a decisive new all-time high.

March 4

​US Technical Charts Potpourri
​The buy the dip mentality is strong and investors ignored the last inflation data.​

Canadian Technical Charts Potpourri
​Canadian Stocks (XIU ETF) trading lower mainly on Bank stocks. ​

Investing in Index Funds Is No Longer Passive
​Large number of indexes makes choosing fund an active decision

Bull Market Staple Being Tested Again
​An Up trendline has supported a popular consumer staples ETF without fail on several occasions since the 2009 low; it is under attack again at the moment.

​​​​February 25

​US Technical Charts Potpourri
​Technology stocks outperforming tremendously the SP500.

Canadian Technical Charts Potpourri
​Strong performance from bank stocks

Earnings Growth Matched The Rapid Pace of Equity Appreciation in 2017
​Earnings during 2017, in fact, rose as much the SPX index itself.

The ‘Index Of The Volume Of Speculation’ Hits A New Record High
​Even when you normalize it by comparing margin debt to the overall size of the economy, margin debt has recently broken out to new highs





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