Archives of “January 12, 2019” day

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America is Minting Millionaires

  
Analysis, Education


This is very intriguing:

The U.S. economy is minting new millionaires at an astonishing rate, according to a paper by New York University economist Edward N. Wolff.
The number of households with a net worth of $1 million (measured in constant 1995 dollars, or about $1.6 million today) grew from 2.4 million households in 1983 to 9.1 million households in 2016, a growth rate of 279 percent.
For comparison, the total number of households grew by just 50 percent over that period, meaning that the population of millionaires grew at more than 5 times the rate of the general population. In 1983 fewer than 3 percent of households had a net worth greater than $1 million in 1995 dollars. By 2016, over 7 percent of households were worth that much.

More to come on this . . .

Implied volatility

  
Analysis, Education
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Implied volatility increases near the end of topping processes. This can be observed from VIX index. VIX shows relative strength despite the market keeps going higher. 

Implied volatility decreases near the end of a sell off. This can be observed from VIX index. VIX shows relative weakness despite the market keeps going higher.

Japanese Prime Minister To Step Down

  
Analysis, Economy, Education
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Ichiro Ozawa, secretary-general of Japanese Prime Minister Yukio Hatoyama’s party, asked Hatoyama to step down from his post, Yukio Ubukata, vice secretary- general of the party said in a TV Asahi program today. Ubukata said he expects both to resign before an upper house election next month. Hatoyama refused to resign during a meeting of senior party officials yesterday, Kyodo News reported.

As this action will likely lead to Yen weakness, and thus Euro strength, the most likely result will be a green close for the Nikkei, once again indicating that politically destabilizing fundamentals don’t matter to C++.

Updated at 7:20/2nd June/Baroda

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