HOUSE_OVERSIGHT_028791

Pages

10

Text

Searchable

Text as released

Machine-read from the scan. Names, dates and numbers can be misread — check anything you rely on against the original page.

From: 
Sent: 
To: 
Subject: 
Faith Kates 
5/18/2016 5:45:03 PM 
jeffrey E. [jeeyacation@gmail.com] 
FW: Warning: The smart money is fleeing U.S. stocks 
Importance: High 
May 18, 2016 
Warning: The Smart Money 
Is Fleeing U.S. Stocks 
BY BILL BONNER, CHAIRMAN, BONNER & PARTNERS 
DUBLIN — The Dow dropped 180 points yesterday — or 
about 1%. 
And another clever billionaire says he is looking elsewhere 
for profits. Reuters: 
Activist investor Carl Icahn on Monday said there was a chance the stock 
market could suffer a big decline, saying valuations are rich and earnings at 
many companies are fueled more by low borrowing costs than management's 
efforts to boost results. 
"I am very cautious on equities today. This market could easily have a big 
drop," Icahn said. 
Yes, dear reader, the smart money is getting out of U.S. stocks. And here's our 
old friend Rob Marstrand explaining why: 
Right now, every measure that analyzes the S&P 500 says it's expensive. Prices 
are high relative to earnings, net assets, sales, and cash flow. 
HOUSE OVERSIGHT 028791 
What's more, there's plenty of evidence that the main thing propping up the 
stock prices is heavy buying by the companies themselves [via share 
repurchases]. 
And now, that prop is getting kicked out from under the stock market. 
Bloomberg: 
After snapping up trillions of dollars of their own stock in a five-year 
shopping binge that dwarfed every other buyer, U.S. companies from Apple 
Inc. to IBM Corp. just put on the brakes. 
Announced repurchases dropped 38% to $244 billion in the last four months, 
the biggest decline since 2009... 
Recommended Links 
Rickards: "Warning, I've Changed My Thesis On Gold" 
I firmly believe we're at the beginning of the BIGGEST move the world 
has ever seen in gold. "Simple math" says $10,000 gold is all but certain. But, you're 
not going to believe what I have to say next... BEFORE you buy a single ounce of 
gold, read this important message. 
Last Chance: VIP Access To Doug Case

[…]

Open in the archive