The March 2017 Spread Betting DiaryClick here for the latest Dear Diary comments.
29 March 2017: All is Well in British PoliticsBelow Boris Johnson discusses the Donald Trump claim that GCHQ carried out surveillance on The Donald.
Clearly, it’s an “absurd and ridiculous” claim and the damage done is like that of a “gnat against a rhino… or elephant”.
BoJo continues his feat of managing to be both funny and a d*** at the same time.
At least the Foreign Secretary’s comment might make a few more reporters ask The Donald about the supposed tapping.
A Gnat Against a Rhino…or ElephantOr perhaps “a Boris Johnson vs a Japanese schoolboy” during some ‘touch’ rugby…
27 March 2017: World Gone Mad!Someone has invented a machine that makes coffee…
Looking at the Starbucks chart, shareholders might have other concerns though…
26 March 2017: Amaze-onThat the Snapchat stock is overpriced is a bit old skool when it comes to tech valuations.
Take a look at the ever rising Amazon stock chart vs the comedy Price Earnings Ratio of 173!
21 March 2017: Forex Spread Betting Comparisons Getting TrickierWith so many spread betting companies only offering variable forex spreads, direct spread comparisons are becoming somewhat opaque.
And don’t be fooled by “Spreads from 0.7pt”…in reality that doesn’t mean 0.7pt.
See forex spread betting comparison.
20 March 2017: Annoying Spread Betting Inactivity FeesWe’ve now added “Inactivity Fees” aka “Dormant Account” fees to our spread betting account comparison.
Inactivity fees are an annoying cost that are creeping into the industry. It’s good to see some firms still aren’t charging them.
14 March 2016: Ping! Short Nikon and Apple Stock!Kellyanne Conway, Counselor to The Donald, has come out with a cracker.
In trying to defend Trump’s accusation that Obama wire-tapped him during the election Kellyanne has suggested, albeit loosely, that Barack may have used microwaves that turn into cameras in order to tap Trump Towers.
Sharp-eyed tech investors will know that this innovation is clearly missing from the latest iPhone and Nikon are poor at kitchen appliances.
However, Samsung make microwave ovens AND smart phones so surely they have the competitive advantage here.
Tip: based on Conway’s knowledge it’s clearly time to short Nikon, short Apple and buy Samsung.
9 March 2017: Haming it UpYesterday, the UK Chancellor, Philip Hammond, played a blinder.
In his budget statement he managed to completely ignore Brexit (and all the nasty risk that it comes with).
He did this by distracting everyone with a nominal, and not unfair, increase in National Insurance Contributions (tax) for self-employed people.
Yes it goes against the Conservative Party manifesto pledge to not raise taxes but it’s far from shocking…
Politically this helps to distract from more Brexit chat AND by raising taxes it’s another little kick for the Labour Party.
From a market point of view, many traders were reported to be shrugging their shoulders and saying ‘meh’.
I think Hammond is relishing the character he’s playing, i.e. a dull and safe pair of hands.
6 March 2017: Deutsche Spanked!And Deutsche Bank is taking another beating dropping 5% on the open: It’s rarely a good sign when banks constantly seek new capital.
3 March 2017: Snap IPOFor a company that doesn’t make a profit, Snap Inc, i.e. the Snapchat app firm, had a rather handy IPO yesterday.
The app makers are now worth more than ebay…
We’ve added a quick guide and live Snap Inc chart here.
2 March 2017: Drain the Swamp
What a ****
First we had Mike Flynn’s sacking as the National Security Adviser for lying to the Vice President.
(General Flynn had spoken to the Russians when we wasn’t supposed to and then he apparently lied to Mike Pence about it).
Now we’ve got Jeff Sessions, the Attorney General, lying during his Senate confirmation hearing.
Asked whether the Trump election campaign team had been having chit-chats with the Russians during the Presidential campaign, Jeff said, “I’m not aware of any of those activities…I have been called a surrogate at a time or two in that campaign and I did not have communications with the Russians.”
The Washington Post has now pointed out that the Senator seems to have forgotten he met with Sergey Kislyak… twice during the campaign. Mr Kislyak is Russia’s ambassador to Washington, DC.
Jeff Sessions is certainly controversial figure and is dogged by claims that he’s a daft racist… at the same time he’s thrived in Washington for 20 years… how did he not think he’d get caught out when he lied so blatantly during the hearing?
#FillTheSwampWhen The Donald said he’d drain the swamp perhaps he was talking about a quasi-reverse John Maynard Keynes style “pay a man to dig a hole and then pay another to fill it in”.
Although, in this case, it seems as though Donald Trump has been filling the swamp and now it’s draining on its own accord…
Pants on Fire Video…And if you missed it… here’s Jeff telling a wee porky.
1 March 2017 – The DonA couple of our favourite cartoons by Kal at the Economist re: Donald Trump.
No doubt there will be plenty more.
Keep up the good work Kal.
More Spread Betting Diary?
Remember: Spread betting, CFDs and forex trading carry a high level of risk. You can lose more than your initial investment. These products are not suitable for all investors. Only speculate with money that you can afford to lose. Make sure you fully understand the risks involved and seek independent financial advice where necessary.