Eddy Elfenbein


Last quote by Eddy Elfenbein

We've gone from sort of the 'risk-on, risk-off' trade to 'Trump-on, Trump-off' trade.feedback
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Apr 27 2017 Trump Presidency
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Eddy Elfenbein is associated, including Fed and Goldman. Most recently, Eddy Elfenbein has been quoted saying: “Right now, I'm willing to stick with the European stocks. You look at a lot of these blue-chip European stocks, you're seeing [dividend] yields of 3 percent, 4 percent. … The spread is in their favor.” in the article Technical analyst breaks down ‘the uber-bullish scenario people aren’t talking about’.
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Eddy Elfenbein quotes

Both stocks are not in a good way right now. And then they tried to broaden out. I don't think they know exactly what kind of company they are, because they're trying to be more than they've been, and it hasn't been working.feedback

The magic number to watch is about $190 per share.feedback

I think it's just an unwinding of some of the recent trades. I mean, oil has had a spectacular year since the lows of about a year ago.feedback

The key, this is the big game changer is that the OPEC cuts that they announced in November, these were the first major cuts in eight years, they're actually working. OPEC… they never cooperate. And it really is working this time.feedback

I think overall, this is a good environment for the tech sector.feedback

Things still look bad for gold long term. Whenever real short-term rates are rising, that's bad for gold. ... Each increase takes a bit out of gold.feedback

I think the broader picture for gold is pretty bleak. Every one of those rate increases will take a big bite out of gold. So I think for now, investors are best to stay away from gold.feedback

If we look at the market right now, it's not even close to the environment we had in the late '90s. We don't see these enormous price-earnings ratios, or we don't see these crazy IPOs. The market is maybe a little bit elevated right now, but it's hardly irrational, deeming the markets at these levels a.feedback

This has been a tremendous rally for bank stocks. I mean, the sector just doesn't normally act like that.feedback

It's not a valuation story, it's an economically optimistic story.feedback

Attacking the issue of pricing … it's a popular bumper sticker, but actually attacking the issue is much more complicated.feedback

It's been a really difficult year for the biotechs – the IBB still a third off its high from 2015, and clearly there's a lot of political risk; people are worried about what would happen with a Clinton victory.feedback

In July when they gave their earnings guidance for Q3, it was $251 to $255, and I'm going to say right now that I think they're lowballing us. I think they will beat that. I think they can go as high as $260 per share for Q3 and I think there's a good chance they'll guide higher for Q4 on sales and earnings.feedback

It's an excuse of convenience. I think it's a good example of companies under-promising so they can over-deliver later.feedback

So if there is a problem, they can say, It's not our fault, it's Washington's fault,' and if there turns out to be no problem, then they beat expectations and then management can say how wonderful they are.feedback

Wall Street "loves excuses that are particularly external.feedback

Don't overthink it; the Fed is on the side of the economy.feedback

This is a great sector; it's the overlooked middle child.feedback

That's why they've been doing well, and if you see the Russell and the small-cap indexes are still a long way from record-high territory. So right now I think the midcap is really at the sweet spot of the risk movement.feedback

Lately with the tech sector, I think the fundamentals have been driving it. It's looking quite good.feedback

A lot of those high-price names, particularly in the financials sector like Goldman, like JPMorgan, they look pretty good here. Also in the tech sector, a lot of those names like IBM and Microsoft [are at valuation levels] that I think [are] pretty favorable.feedback

You had that big move after Friday's jobs report, but that's because the expected rate increase was taken off the table. To keep the rally going, you need to keep having that, and I think there is a view that the Fed is going to raise rates at some point within the cycle.feedback

Higher real rates are a death for gold. So I think in the long term, I just don't see gold having a significant rally going forward.feedback

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