Veneroso Associates
Veneroso Associates Articles
The Bank of England Gold Sale... A Blow to Market Sentiment a Green Light for More Bear Speculation?
Executive Summary
It has been our view that the economies of Thailand, Indonesia, and Korea would remain in serious trouble until the disastrous deflationary policies of the IMF and the US Treasury were abandoned.
We spent the last week in Europe discussing some of the analysis and conclusions of our first edition of The Gold Book Annual with several central banks in Europe as well as some producers, dealers, and the World Gold Council management in...
The Yen Fundamentals
The yen has retraced most of its gains since the US/Japan intervention. The markets now assume that such intervention will not work unless the "fundamentals" change. What are the fundamentals and are they changing?
The dollar has been in a three-year bull market. It has moved massively against the yen and the exchange rates of many of the world's emerging economies. Lastly, the Asian economies it has rallied against have now entered serious...
How large can a bubble grow before it bursts? Farther than you think. And there need not be a fatal pinprick that makes it burst. And when it bursts, the crash that ensues can be deeper and more discontinuous than you could ever imagine.
Orders for Computers, Communications Equipment, and Semiconductors
Q1
Q2
Q3
Q4
1994
12.8
Executive Summary
The Nasdaq sells at 76 times earnings. Excluding Intel, Microsoft and Cisco, the rest of the Nasdaq (at $1.7 trillion) sells at almost 100 times earnings. If one excludes the profitable financial institution stocks on...
