Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Frank N. Beans
Apple Warns Of "Material Financial Damage" If Its $171 Billion In Offshore Cash Is Jeopardized
Despite the fact that Apple beat on both the top and bottom line on Monday on the back of better-than-expected iPhone sales (thank you China), and despite a near $20 billion increase in the company's massive cash pile which now stands at around $193 billion, shares have languised this week, falling around 5% post-earnings. Now, we have a possible explanation for the weakness.
Death Of The Middle Class: Homeownership Rate Drops To 29 Year Low As Average Rent Hits Record High
Overnight Gallup released its latest survey which confirmed just how dead the American Dream has become for tens if not hundreds of millions of Americans. According to the poll, the number of Americans who do not currently own a home and say they do not think they will buy a home in "the foreseeable future," has risen by one third to 41%, vs. "only" 31% two years ago.
Hopium: How Far Can Irrational Optimism Take The U.S. Economy?
Submitted by Michael Snyder via The Economic Collapse blog, If enough people truly believe that things will get better, will that actually cause them to get better? There is certainly something to be said for being positive and thinking that anything is possible. And as Americans, optimism seems to come naturally for us. However, no amount of positive thinking is ever going to turn the sun into a block of wood or turn the moon into a block of cheese.
China's Day Trading Hordes Unmasked
There's been no shortage of coverage both here and elsewhere of China's world-beating, margin debt-fueled, self-feeding equity mania.
Market Melts Down After Opening Buying-Panic
Just when you thought it was safe to BTFD on absolutely no news just because the US equity market opened... What started off weak, then spiked into awesomeness... ended ugly... As Cash markets surged at the open (apart from Trannies which played catch up) as Small Caps led... Dow lost 18,000, S&P lost 2,100, and Nasdaq lost 5,000 - NOT OFF THE LOWS Financials led on the day ahead of earnings hope.. every other sector closed red...
Many Big Guns Still Betting On Oil Comeback In 2015
Surprisingly, the flow of crude oil is still accelerating, much like the money going into crude oil funds. Three of the largest crude oil funds include USO, OIL, and UCO. UCO is unique due to the fact that it’s an exchange-traded fund that uses leverage, mostly in the form of derivatives, to correspond to twice (200%) the daily performance of its underlying benchmark, the Bloomberg WTI Crude Oil Sub-index.
Dow Futures Down 400 From Monday Highs After Asian Open Flash-Crash
After Japan's Tankan disappointed greatly and various talking heads from Japan came out to deliver the credibility-destroying-phrase of the day: that "the economic recovery is progressing smoothly" despite all evidence to the contrary... USDJPY took a dive. And when USDJPY takes a dive, all its risk-on, carry-trade-imbibed friends take a dive.
Fed's Annual Stress Test Results: 28/31 Pass - Deutsche & Santander Fail, BofA To Re-Submit
After all 31 banks passed Dodd-Frank's "stress"-test with flying colors and awaited The Fed's CCAR blessing to spread the wealth to shareholders, we thought ironic that The Fed's Tarullo had previously commented that "we don't want banks to know the stress-test scenarios and tailor their portfolios to meet our goals," because that would never happen. The CCAR results are now out and 28 of 31 passed.
"Mission Accomplished" Dow, S&P, And Nasdaq Surge To Green For 2015
The biggest short squeeze in 15 months appears to have solved the 'status quo' concerns that "everything is awesome" just like The Fed says. Following Nasdaq's brief leap into the green yesterday, this morning's melt-up has dragged The Dow, S&P and Nasdaq into positive territory for the year... just a good job macro- and micro-fundamentals are so supportive... Because... fun-durr-mentals Charts: Bloomberg
Nisman Murdered? Suicide Story Crumbles After No Gunpowder Found On Argentine's Hands
When news broke of the death, by gunshot wound to the head, of Alberto Nisman - the prosecutor who was due within hours to deliver testimony implicating the Argentine President in covering up the investigation into a bombing in 1994 - it seemed oddly quick for police to rule it suicide within hours (especially after his earlier concerns that "I could end up dead because of this.") Today's news from The Buenos Aires Herald that the "unexpected result" of forensic analysis of Nisman’s body...
Spot The Trend: The Richest 1% Are About To Own Over Half Of Global Wealth
Below is a chronological progression of the famous Credit Suisse global wealth pyramid showing a disturbing trend. Try to spot it. Still not clear? The following two charts should help: In short: the rich get richer; the poor get poorer, and the middle class is going extinct. What happens next?
A Permabull Throws In The Towel: "Stocks Are Massively Overvalued", Key Multiples Are Post-War Records
Back in January 2012, all was well with the centrally-planned world: Gluskin Sheff's David Rosenberg was staunchly bearish, while his arch-nemesis, Wells Capital's Jim Paulsen, was the opposite.
Fitch Downgrades France To AA: Full Text
And the final punch in the gut on this bloodbathy Friday some from French Fitch which just downgraded France from AA+ to AA. Fitch Ratings has downgraded France's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'AA' from 'AA+'. This resolves the Rating Watch Negative (RWN) placed on France's ratings on 14 October 2014. The Outlooks on France's Long-term ratings are now Stable.
With Q3 Buybacks Surging, These Are The Top 20 Repurchasers Of Their Own Stock
Back in September, when we looked at the total amount of stock buybacks by S&P 500 companies, we observed that the "Buyback Party Is Over: Stock Repurchases Tumble In The Second Quarter" - according to CapIQ data, after soaring to a record $160 billion in Q1, the amount of repurchased stock dropped 20% to "only" $110 billion, which perhaps also explains why the market went absolutely nowhere in the spring and early summer.
Chart Of The Day: JPMorgan's $30 Billion In Legal Fees And Expenses Since 2010 (And Why The New Compliance Officer Just Quit)
The most stunning chart from today's plethora of JPMorgan investor day presentations was this one derived from the expense chart on page 22, listing the firm's various non-corporate and corporate legal expenses, as well as foreclosure related matters: in other words, the amount of money the company pays to continue operations as an implicit criminal enterprise, however without ever having to admit or deny guilt to the US department of justice, and without the resulting incarcerations.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Frank N.
Contact Frank N., search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack