The Financial Select Sector SPDR (XLF) hit record lows for 2018 today as part of the Coming Financial Sector Bear Market.
On Jan 9, 2018, I predicted the beginning this quarter of a bear market for the financial sector. This has clearly begun. But what does it mean for everyone else? One thing is that so much of the Dow and S&P 500 Indices are made up of financials that the coming downturn in financials will … More Dow/S&P Need New Leaders Than Financials
Banks have to embrace technology and change their culture to be like startups, DBS CEO Piyush Gupta said, amid growing competition from tech giants like Alibaba. You’ve got to be nimble; you’ve got to be willing to take some risks, you’ve got to have small groups of people who can really be entrepreneurs in the … More ‘Banks have to be nimble like tech firms’
Last week, my new paper “Measuring Black Swans in Financial Markets,” was published in the Journal of Mathematical Finance. These equations were the basis for my January 9th prediction that the financial sector would drop significantly this quarter.