HOW ABOUT A PROTEIN SHAKE?

SOURCE: http://www.dailymail.co.uk/femail/article-2711945/Want-burn-Cheesecake-Factory-pasta-Youll-jog-FIVE-HOURS-The-caloric-costs-chain-restaurant-meals-revealed.html

GARY ON THE MARKETS!

Just reporting the facts:
New highs versus the market horrid. This simply means fewer and fewer stocks are working while the big money finds mega-cap names.
Advance/decline figures have been heading south while the big cap indices hold up. This means the underlying market is weakening.
The strongest areas like the SEMIS and TRANSPORTS are under distribution here. The market cannot afford to lose these areas. You can also add ENERGY to this.
Tons of IPOs continue to hit the market. Just this week, over 20 IPOs will come public. This is a sign of froth as well as extra supply on the market.
Weaker areas like HOUSING are flat out breaking down.
The RUSSELL 2000 and SMALL CAP 600 remain very weak versus large cap indices but we must note that the DOW is teasing breaking the 50 day as a decent number of DOW names acted poorly off of earnings.
Lastly, we remain of the belief that a good amount of the economy, assets and the market has been put on a humongous dose of steroids by the Fed. The Fed, to their credit, are finally rolling back the printing of money. But the big question is whether they are late in doing this.
Just recognize in a bunch of areas, the complexion has changed and is changing.

07/31/2014: Gary On Nationally Syndicated Investors Edge Radio Broadcast

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

07/30/2014: Gary On Nationally Syndicated Investors Edge Radio Broadcast

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

GARY TALKS HOUSING MARKET

In 2004-2007, we witnessed a housing bubble…caused by many players. You can start with Greenspan for loose lending policies and advocating subprime lending but one also has to look at the criminal activities at the lending companies. The lenders realized prices became to high to afford so many decided to give loans to people that did not have the first dime to pay the loans back. We should always remember what happened because the Fed fixed the problem with the same thing that caused the problem in the first place…that being easy money. But this time, it is not only easy, but outlandishly easy as trillions of dollars have been printed. We are certainly not where we were back then with lending but there are some things happening that you should pay attention to.

Back then, flipping properties was the thing to do. Television shows were all over your tv glamorizing it. We are getting the same now. Back then, priced appreciated markedly in many areas. While many areas aren’t even close to the old highs, others are. And in the case of places like NYC and San Francisco, prices just go up and up. We were all told prices would never come down…and told by all the supposed geniuses. Try buying a place in these areas. You can get something the size of a kitchen for $1 million.

We could not have have had the bubble and crash without the lenders. They dropped all norms in lending because of prices being too high…leading to a ton of people who should have never received a mortgage. This added to the bubbling up. To be clear, we are not saying that these lending practices are happening in today’s market. Lenders were jolted in ’08 and have learned from that and are being much smarter today. Some argue that the fall in the housing market, should it happen, would not be as bad because many purchases are being done with cash as opposed to borrowing. A market still has the ability of falling in price even if it was purchased with cash. We are not saying that we are in a housing bubble like 2007 or that you should not buy a home. We are simply suggesting that you should be wary as some similar signs are appearing again. We are just here to let you know we are worried as to why housing is better. Interest rate markets…and we use the word “markets” loosely…are not what they used to be. It is no longer a two-way market where buyers and sellers trade based on fear and greed. The interest rate market is rigged by central banks which has led to asset prices bubbling up. The worry is what happens when the music stops and things start to normalize. Pay attention!

07/29/2014: Gary on Nationally Syndicated Investors Edge Radio Broadcast

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

MORE AND MORE MARGIN!

Source: http://www.zerohedge.com/news/2014-07-28/nyse-margin-debt-storms-back-all-time-highs

07/28/2014: Gary on Nationally Syndicated Investors Edge Radio Broadcast

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.