The DailyAlts Playbook
The DailyAlts Playbook is the ultimate insider newsletter for the alternative investment industry. Economist Garrett Baldwin covers the big headlines, the stories behind the scenes, and goes on the record with some of the top names in finance to get their take on major events affecting the global capital markets. The DailyAlts Playbook is an in-depth, daily read that drives discussion, entertains and raises your Alternative IQ.
THE DAILYALTS PLAYBOOK June 4, 2020 DailyAlts Playbook: America on Fire, Goldman Shorts the Dollar, a $41 Trillion Hole, and the Death of Pensions. PRIME OVERVIEW Good morning, It looks like the private equity industry has scored one of its biggest wins in its history. The Labor Department today issued guidance that effectively allows 401K…
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THE DAILYALTS PLAYBOOK April 3, 2020 Today, the DailyAlts Playbook Talks About Mark Yusko, Bill Ackman, Tiger King, and “Bringing Back Paper Bags…” PRIME OVERVIEW Good morning: Markets are still locked in negative momentum. Oil bouncing to $26. But are we really going to speculate on oil right now? Perhaps… perhaps it’s worth looking at…
DailyAlts Playbook: Activists in a Pandemic, SoftBank’s WeWork Debacle, High-Yield Defaults, and Demon Days
The Dow Futures rallied more than 340 points after a dismal start to the second quarter. This morning, investors are paying very close attention to the weekly jobless claims from the Department of Labor. Last week, the agency reported that 3.2 million Americans had applied for unemployment benefits. Today, that figure reached six million. Economists had expected roughly four to five million people to file for unemployment, with the high range at nine million.
The DailyAlts Playbook: College!, Record Unemployment, PE Lobbying Efforts, and Icahn’s Failed Merger
This morning, investors are starting to speculate on the March jobs report set for this Friday from the U.S. Labor Department.
DailyAlts Playbook: Margin Call, the WHO’s Latest Projections, Depression Level Unemployment, and Larry Fink’s Outlook.
Yesterday, the Federal Reserve dropped a bombshell on the markets. According to the central bank, up to 47 million Americans could lose their jobs, bringing the U.S. unemployment rate up to 32%.
DailyAlts Playbook: Commercial Real Estate Woes, Crude Collapse, 2002 Music Reviews, and Ackman’s “Hell is Coming” Defense
THE DAILYALTS PLAYBOOK March 30, 2020 Today, the DailyAlts Playbook talks about Commercial Real Estate Woes, Crude Collapse, 2002 Music Reviews, and Ackman’s “Hell is Coming” Defense. PRIME OVERVIEW Good morning: The markets are flat this morning, and my projection this week is that we’re looking at more downside pressure. We are likely heading into…
The Dow Jones projected a 680-point decline in premarket hours as the markets selloff from a massive three-day rally. The mainstream press is back in cheerleader mode, proclaiming that the Bear market is over, despite the fact that the American economy is effectively shutting down for the foreseeable future.
This morning, markets are preparing for a record jump in the number of weekly jobless claims. We’ve seen projections ranging between 1 million and 3.4 million, well above the 281,000 from last Thursday. [UPDATE: U.S. claims came in at 3.28 million this week] This news comes after the U.S. Senate passed a $2 trillion coronavirus stimulus package that includes direct payments to Americans and provides hundreds of billions in support to U.S. industries negatively impacted by the ongoing economic crisis.
DailyAlts Playbook: March 24 – The Leaders We Deserve, Why Twitter Debates are Worse than Orioles Games, SALT’s Cancelation, and Coronavirus Updates
Global coronavirus cases surpassed 382,000, according to Johns Hopkins University. The ongoing surge in cases has fueled an “unprecedented” collapse in economic activity in Europe during March.
THE DAILYALTS PLAYBOOK March 23, 2020 Today, the DailyAlts Playbook talks about Helicopter Money, Amazon’s New Mission, and the Crash that “No One Called” PRIME OVERVIEW Good morning: I wrote a rather lengthy piece last night on Neel Kashkari and the 60 Minutes interview last night in which I discussed his take on helicopter money….
The DailyAlts Playbook: Corona Cases Surge, Warnings from 2012, Universa’s Massive Win, and Party Bros
Today, the DailyAlts Playbook talks the Surge in Corona Cases, Warnings from 2012, Universa’s Massive Win, and Party Bros.
The DailyAlts Playbook: Buyback Blowback, Hyperbolic Growth, and the Movement to Stop Short-Selling (for now).
The Dow Jones projected an 821-point decline as the futures market hit limit down yet again Wednesday morning. The volatile opening comes a day after the Trump administration announced plans to inject roughly $1 trillion into the U.S. economy to help consumers manage their finances. The Dow is now off 28% from its record high. Should another 7% drop in the S&P 500 come this morning, it would trigger the first level of three circuit breakers.
DAILYALTS PLAYBOOK March 17, 2020 Today, the DailyAlts Playbook talks about Medical Properties Trust, Roof Monsters, and What’s Happening in Washington. PRIME OVERVIEW Good morning: Apologies that Monday’s Playbook didn’t make it out. MailChimp had some issues. We have been following our models and sitting on cash since late February, so we’re riding this out….
The DailyAlts Playbook: Limit Down, Bill De Blasio’s Economic Ignorance, and Scott Minerd on the Market
We start today where we left on Thursday night. Friday was a dead cat bounce, and we’re back to limit down. The Dow Jones projected a 1,041 point loss in premarket hours after futures hit “limit down.” The downturn came despite news that the Federal Reserve slashed interest rates to zero and introduced a quantitative easing program that is worth $700 billion.
The DailyAlts Playbook: Buffett Plays to an Empty Room, Disney is Going to Be Quiet, and China’s Latest Lies
THE DAILYALTS PLAYBOOK March 13, 2020 Today, the DailyAlts Playbook talks about Buffett Playing to an Empty Room, Disney’s Quiet Period, and China’s Latest Lies. PRIME OVERVIEW Good morning: We start today where we left last night. I was up until around 1 a.m. watching the Futures market tank yet again with the Dow off…
DailyAlts Playbook: Bond Downgrades, the ETF bomb, Bitcoin’s Bust, Blackstone’s Credit Lines, and Oil Slumps.
Today, the DailyAlts Playbook talks about Bond Downgrades, the ETF bomb, Bitcoin’s Bust, Blackstone’s Credit Lines, and Oil Slumps.
The DailyAlts Playbook: Coronavirus Stimulus, Biblical Warnings, Vertical Hedge Fund Neighborhoods, and Why Kyle Bass is Sitting on the Sidelines Right Now.
Today, the DailyAlts Playbook talks about Coronavirus Stimulus, Biblical Warnings, Vertical Hedge Fund Neighborhoods, and Why Kyle Bass is Sitting on the Sidelines Right Now.
DailyAlts Playbook: NBC News’ Remarkable Debt Coverage, Corona CAPE Shiller, and Why Just Six States Will Decide This Election
Goldman Sachs had a call on Monday that features health and economic experts on the state of the Coronavirus outbreak. The call indicated that China is no longer the driving force behind the spread of the virus. China is getting back to business – that’s evident with solid resumption rates in its National Grain Processing and Railway Cargo Loading. That said, its national logistics are still sitting at just 60%. Auto traffic remains low in major cities, And passengers are still avoiding intra-city transport. Finally, its property transaction market has slowed to a crawl.
The DailyAlts Playbook: Why it’s Time to Ditch T-Mobile, Berkshire’s Delta Buy, a Bearish Bill Ackman, and the Global Response to Coronavirus.
THE DAILYALTS PLAYBOOK March 5, 2020 Today, the DailyAlts Playbook talks about why it’s Time to Ditch T-Mobile, Berkshire’s Delta Buy, a Bearish Bill Ackman, and the Global Response to Coronavirus. PRIME OVERVIEW Apologies again for the later delivery this morning. The new T-Mobile update has been a disaster. It deletes calendars. It installs games…
The DailyAlts Playbook: Super “Biden” Tuesday, Roaming Chickens, Fed “Fear”, and Why It Takes Zero Millennials to Change a Light Bulb
We start Wednesday with Super Tuesday. Uncle Joe Biden has completed a stunning consolidation of support across the Democratic party and stopped the momentum of Senator Bernie Sanders. An NBC News poll shows that Biden won across the South in Virginia, North Caroline, and Arkansas. This would give him a lead in the delegate count. It also appears that he won in Massachusetts, Texas, Maine, and Minnesota. And although it appears that Sanders will win California, Biden came in second place and will be viable in that state (as in he will receive delegates).
The DailyAlts Playbook: Biden’s History Lesson, Trump Trolls in Carolina, Interest Rate Cuts, and Activist ESG Campaigns.
This morning, markets continue their rebound from last week’s brutal selloff. However, this appears to be a “technical” bounce back driven heavily by futures trading. It’s clear from the data that not many believe last week to be the last of the selloff. Markets anticipate an aggressive response to coronavirus by central banks around the globe. President Donald Trump has reportedly asked the Fed for a large cut in the wake of Australia’s 25-basis point cut on Tuesday.
The DailyAlts Playbook: Tom Steyer’s Suspension, the ECB’s Self-Plagiarism, and Tough Times for Masayoshi Son.
The DailyAlts Playbook talks about Tom Steyer’s Suspension, the ECB’s Self-Plagiarism, and Tough Times for Masayoshi Son.
DailyAlts Playbook: ESG Bubbles, Sharp CEF Discounts, Brexit Demands, and Bill Ackman’s Bullish Views on Burritos.
The DailyAlts Playbook talks about ESG Bubbles, Sharp CEF Discounts, Brexit Demands, and Bill Ackman’s Bullish Views on Burritos. The Dow Jones projects another triple-digit loss as the worst selloff since the 2008 financial crisis continues. The 10-year Treasury bond collapsed under 1.2% as investors pour into any available yield they can find. Former Fed governor Kevin Warsh predicted this morning that central banks around the world will engage in a coordinate effort to respond to the coronavirus outbreak.
DailyAlts Playbook: Mike Pence’s Battle to Save the World, Climate Investment, ESG Naysayers, and “The Activists.”
We start today with the first U.S. coronavirus case of an unknown origin. The CDC is not aware of how a person in Northern California obtained the virus. However, they are now concerned about “community spread.” Last night, President Donald Trump attempted to ease concerns about the spread of the virus and said that the risk to Americans is still “very low.”
The DailyAlts Playbook: The South Carolina Debate Clown Car, Coronavirus Fears, Trump’s Market Woes, and Mike Bloomberg’s Naked Cowboy
We start on Wall Street, where the stock futures aren’t pointing toward any significant recovery. We just experienced the worst two-day performance in four years as investors sound the alarm over coronavirus. This morning, Greece confirmed its first case, while France reported its second death. Royal Carribean (NYSE: RCL) has canceled 30 cruises in Southeast Asia. And a top U.S. health official has suggested that a global pandemic is likely. This isn’t slowing down. Despite a 1,800-point slide in two days, there’s little reason to expect a massive bounceback.