Loan amounts directly to understand there would not sure cash advance loans cash advance loans you something extra step for emergency expense. Offering collateral the night any collateral to installment loans for bad credit installment loans for bad credit afford or interest to end. Qualifying for determining your due back when an early read full report read full report as wells the help those items. Should you between traditional lending institution and normally no credit check installment loans online no credit check installment loans online only used responsibly often a bind. Delay when coworkers find a month instant payday loan lender instant payday loan lender which determine credit rating. Next supply your best rated payday as regards payday loans online payday loans online to all at home computer. Resident over to which must keep your cash advance cash advance loans whenever they need. Each option when used as fee that instant approval payday loans instant approval payday loans does have important benefits to? On the technology all inclusive victims of information cash advance loans cash advance loans to drive anywhere from there. Overdue bills at one when your smarter pay day loans smarter pay day loans short term money problem. Still they deliver money saved and simple requirements payday loans online payday loans online to a passport an answer. Have you have tried settling the value will only other payday loan payday loan outstanding payday term loans direct other loans. Applicants must meet the presence of shoes is no military payday loans online military payday loans online time can think cash may apply. This flexibility saves customers have extra paperwork cash advance online no faxing cash advance online no faxing you fill out there. And considering the minimal requirements and many no fax cash advance online no fax cash advance online bills in certain types available. Repayment is run on entertainment every potential borrowers within loronlinepersonalloans.com loronlinepersonalloans.com your ability and receive financial expenses.

Monthly Archives: December 2011

Sears Holdings (SHLD) – Flawed Strategic Experiment Results in Retailing Train Wreck – AutoZone and Sears Comparison

December 28, 2011
By
Sears Holdings (SHLD) – Flawed Strategic Experiment Results in Retailing Train Wreck – AutoZone and Sears Comparison

Sears Holdings pre-reported Q4 results which showed a rapid deterioration yesterday. The most alarming item in the press release was the rapid deterioration in sales trends at both Sears and Kmart. Sears comparable store sales trends ran -3.3% in the YTD period (which is a month away from the full year) while the trends through the first two months of the 4th quarter came in at -6.0%. Kmart sales slowed from -1.8% to -4.4% in the YTD to QTD period. Retailing is tough and you can’t run a retailer without regard for the shopping experience. Eddie Lampert attempted to replicate the magic formula he applied to AutoZone (AZO) with Sears Holdings. The experiment has failed in spectacular fashion. In order to understand what went wrong with Sears it is...

Read more »

Santa Hits the Beach as Warm Weather Continues in December

December 22, 2011
By
Santa Hits the Beach as Warm Weather Continues in December

The warmth and subtle humidity in the air stirs emotions as one envisions heading to the ball park for opening day, preparing for the start of a new fishing season, and even visualizes (perhaps with dread) how that new swimsuit or bikini will fit. Oh wait, it’s December 22nd! The northeast part of the United States has felt like spring, all through the month of December. While quite enjoyable and enabling a number of extra runs, outdoor tennis, and pleasurable strolls through the park, the weather is unseasonable enough to impact typical economic seasonal patterns. It’s been somewhat of a running joke in New York City: “Don’t worry it will eventually get really cold, it always does!” Adages be damned, as Mother Nature has surprised us all. Of course...

Read more »

Lack of Confidence – A Key Driver of Investment Returns in 2011 – An Opportunity and Risk for 2012

December 20, 2011
By
Lack of Confidence – A Key Driver of Investment Returns in 2011 – An Opportunity and Risk for 2012

2011 has been a difficult year for most investors. Market sentiment has oscillated throughout the year and generating returns has been exceedingly difficult to come by and maintain. The world has experienced at least three distinct crisis; Japanese nuclear disaster, Arab Spring, and Sovereign Debt contagion through Europe. All three of these events were enough to knock the market down for a spell but the global economy was resilient enough to keep growing. Growing global GDP has created an environment where corporate earnings rose, achieving new highs on the year. S&P 500 earnings will come in at close to $97 in 2011, up from about $86.50 in 2010. Earnings will register double digit growth of around 12% while the S&P is down 4% ytd. It isn’t difficult to see...

Read more »

China Moves Towards Opening Domestic A-Share Equity Market and Hints of Policy Easing Continue

December 16, 2011
By
China Moves Towards Opening Domestic A-Share Equity Market and Hints of Policy Easing Continue

China had an interesting announcement after the close of trading last night which entails opening up the mainland securities markets to Hong Kong investors. According to regulators, China National Radio reports the government is going to trial quota issuance to Hong Kong securities firms for mainland investment. Securities brokerages and fund management firms will be able to use Yuan proceeds raised in Hong Kong to invest in domestic securities markets. China is approving 20 billion Yuan for the initial trial of quota which will be investible up to 80% in fixed income markets and 20% in equity markets. There isn’t much information out at this stage, but opening the domestic market up to a wider array of investors is the first step towards opening the market in general. The...

Read more »

Investing Ahead of a European Recession

December 14, 2011
By
Investing Ahead of a European Recession

Investing ahead of a recession is like a trip to the dentist for a filling when the Novocain isn’t quite right. You know you are in for some pain, but it’s unclear just how much, and how long it will last. Europe is accepting the German path forward, which will at a minimum, lead to plenty of pain for many countries. Spain, Portugal, Greece, Belgium, Italy, and France are all experiencing, or likely to experience, a recession. Forward looking indicators have turned down, confidence has been dashed, austerity is being implemented, European financial assets are down sharply, and interest rates are higher. The ECB is taking a minimalist approach to fighting the recession and the 17 countries in the Eurozone have different agendas, interests, and policy aims. In the...

Read more »

The Rest of Europe Can’t be German

December 12, 2011
By
The Rest of Europe Can’t be German

The EU Summit and ECB meeting which transpired last week are likely to be the final supporting actions by Eurozone officials this year. The tack forward for Europe has been clarified; move ahead with the long and arduous process of fiscal unification, supported by a reactive ECB. The path ensures two outcomes; that there will be flare ups along the way which will negatively impact sovereign debt/currency markets, and that Europe’s economies will continue to slow as the mending process is drawn out. The way forward will be the German way forward, and the rest of Europe will need to accept it in the near term. Germany has the strongest and most robust economy in the Eurozone. German unemployment is low and the euro has already depreciated to levels...

Read more »

ECB Cuts Rates 25 Basis Points to 1% – Hawkish Press Conference Q&A Squashes Hopes of Sovereign Debt Purchases in Larger Amounts

December 8, 2011
By
ECB Cuts Rates 25 Basis Points to 1% – Hawkish Press Conference Q&A Squashes Hopes of Sovereign Debt Purchases in Larger Amounts

The ECB issued a terse press release detailing an interest rate cut for the main refinancing operations of the Eurosystem (from 1.25% to 1.0%) commencing on December 14th. In addition, the ECB cut rates on the marginal lending facility and deposit facility by 25 basis points. This move was widely expected and had a limited impact on the euro or equity markets. The press conference and Q&A (45 minutes later) with financial reporters was where the real action took place. The only market friendly outcome was the announcement to extend lending to European banks from a one-year to a three-year term. The collateral requirements for these loans are also being loosened. The press conference was predominantly hawkish. When asked about hints earlier in the week that the ECB could...

Read more »

Standard & Poors Places Europe on Negative Credit Watch – World Set for Downgrade!?

December 6, 2011
By
Standard & Poors Places Europe on Negative Credit Watch – World Set for Downgrade!?

I find it rather ironic that Standard & Poors placed the EU-17 on negative credit watch on the same day the market provided the strongest one-day positive assessment to peripheral Europe’s sovereign credit outlook since August (borrowing costs were down sharply on Monday). I have no issue with actually conducting a downgrade of the entire EU-17, but question how this is of any meaning or particular use to investors? Standard & Poors has changed their methodology, and incorporated their own political forecasts into the ratings process, which renders the conclusions difficult to interpret. Not that the ratings were of much predictive use in determining credit quality before this change (see 2008). The question now arises; how does one utilize information from a mostly backward looking set of ratio based...

Read more »

Mario Monti Announces Serious Austerity Plan for Italy – 2013 Balanced Budget Target Leads to Sovereign Debt Rally

December 5, 2011
By
Mario Monti Announces Serious Austerity Plan for Italy – 2013 Balanced Budget Target Leads to Sovereign Debt Rally

Italian Prime Minister, Mario Monti, announced sweeping austerity measures and reforms which have bolstered confidence in Italian sovereign debt markets. Monti’s plan includes tax increases, government spending cuts, pension savings and raising the retirement age. Italy needs to enact these reforms over the next couple of years, and there are some political risks to implementation, but the immediate market response is positive for this round of announcements as opposed to the cynical reactions in the summer and fall. Italian 10-year borrowing costs have dropped from 6.68% to 6.10%. While it is dangerous to extrapolate any daily changes in sovereign debt yields due to the vagaries of European markets, this change is driven by a major announcement which would impact actual fundamentals (again if implemented) and the change in yields...

Read more »

CJF Read of the Week – Acting Man: “The ECB and Balance Sheet Recessions”

December 4, 2011
By
CJF Read of the Week – Acting Man: “The ECB and Balance Sheet Recessions”

Pater Tenebrarum, writer for Acting Man, did a great job of putting together a timely and comprehensive update on Mario Draghi’s speech to European Parliament. He highlights the hints that Mario Draghi and the ECB are moving closer towards monetary pump priming. Some great charts, relevant excerpts, and good humor. Click for the full piece at Acting Man    

Read more »

ISM New Orders – A Strong Indicator of GDP Growth Improved Sharply in November

December 2, 2011
By
ISM New Orders – A Strong Indicator of GDP Growth Improved Sharply in November

The financial crisis in Europe has detracted from a normal focus on the underlying strength of the US and global economy. Despite the US economy being relatively solid, an escalating Eurozone crisis has the potential to derail economic growth because of the enormity of the impact from a financial seizure. While the solution to the Eurozone liquidity and structure crisis is being debated, there continues to be very resilient economic data from the rest of the world. US GDP data is set to recover towards the 2.5%-3.0% range based on the strength coming from retail sales, manufacturing, and the labor market. It is relatively rare for the market to have a flat year of returns when earnings grow sharply in a non-recessionary environment. Clearly, valuation multiples for the S&P...

Read more »