It is the 22nd of January 2020


One Hedge Fund CIO Is Shocked To Learn The Fed's Model Ignores "The Only Two Things That Matter"

Some Sunday thoughts from the CIO of One River Asset Management, whose latest Weekend Notes starts off in traditional Eric Peters style, namely a mockery of the Fed...

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Restoration Hardware Implodes After More Terrible Guidance, Blames Election

Back in February, the stock of Restoration Hardware crashed after it announced dreadful quarterly earnings and slashed its guidance, however it somewhat redeemed itself after the company came up with the most original of excuses heard in a long time: in an exercise of absurd reflexivity, RH blamed its own falling stock price on its poor results: "Historically, our business has a correlation to large movements in stock prices as we believe asset valuations influence our customers’ buying patterns." It also blamed various other things, all of which boiled down to one simple thing: the consumer is simply not spending.

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Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears

Earlier this week, before first JPM and then Wells Fargo revealed that not all is well when it comes to bank energy loan exposure, a small Tulsa-based lender, BOK Financial, said that its fourth-quarter earnings would miss analysts’ expectations because its loan-loss provisions would be higher than expected as a result of a single unidentified energy-industry borrower. This is what the bank said:

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