It is the 16th of July 2019

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"Racism Is Evil" - Trump Denounces KKK, White Supremacist "Criminals And Thugs"

During an impromptu statement from The White House, President Trump attempted to clear up the nation's comprehensions of his views calling out the "KKK, Neo-Nazis, White Supremacists, and other hate groups as repugnant."

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The Uber Effect: Avis Plunges On Huge Miss, Margin Collapse, Guidance Cut, "Over-Fleeting"

While the growing woes facing the auto sector are well-known by now (see "Carmageddon: Ford & GM Sales Tank Despite Record July Incentive Spending") and boil down to excess capacity, insufficient demand and just a tiny - if one listens to the experts - subprime lending bubble, one key culprit has emerged as the biggest catalyst behind the chronic weakness among US carmakers: a moribund fleet, or rental, industry which has been devastated in recent years from Uber's juggernaut of disruption.

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Dan Loeb: "None Of Our Early Predictions Have Come To Pass"

Below are some key highlights from Third Point's latest Q2 letter, in which we find that Dan Loeb, despite some early market turbulence and thesis drift, has again managed to do what 95% of his peers have been unable to do, outperforming the S&P YTD and returning 10.7% through June 30, up 4.6% in the second quarter.

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Howard Marks Sounds The Alarm On ETFs And Passive Investing, Again

Back in March 2015, Howard Marks was among the first to sound the alarm on the encroaching danger posed by both ETFs in particular, and passive investing in general, when he memorably asked (rhetorically, for now), "what would happen, for example, if a large number of holders decided to sell a high yield bond ETF all at once?" and answered his own question:

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