Investment outlook
Wolf Richter: Historic Mania in SPACs, IPOs. Huge Fees for Wall Street Banks. Mega Paydays for Insiders. Disdain for Valuations. Blind Faith that “This Time It’s Different”
SPAC mania, with billions raised: this time it’s different, everyone is saying again – another sign that the zoo has gone nuts.
Central Bank Machinations with No Exit: ECB Leaks New Thingy, It’s Doing Yield Spread Control
Not your grandmother’s “yield curve control.” Only one thing that could force this ECB absurdity to end: a big bout of inflation.
CalPERS Making It Impossible to Hire Competent Chief Investment Officer
CalPERS is such damaged goods that it apparently can't attract the sort of CIO it wants to hire.
Having Dropped for Years, US Auto Sales Plunged to 1970s Level in 2020
More Covid road kill: auto sales.
Hubert Horan: The Airline Industry Collapse Part 5 – The Battle to Protect Airline Investors From Economic Reality Enters a New Phase
Why the big airline operators' talk about turning the corner in early 2021 is bunk.
The “Crew Change” Crisis: 300,000 Seafarers Trapped. Will International Trade Grind to a Halt?
Will governments, unions, international organizations, and ship-owners be able to collaborate to solve the growing "crew change" crisis?
Hubert Horan: The Airline Industry Collapse Part 3 – Recovery Expectations Were Always Dreadfully Wrong
Not only is the airline industry in desperate shape, but its executives have made its bad situation worse, increasing resolution costs for all bagholders.