Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here.

Numbers Game

Third quarter gross domestic product increased at an annual rate of 1.6 percent according to advance estimates from the Bureau of Economic Analysis. This was a slowdown from 2.6 percent in the second quarter. “Real” estimates are in chained (2000) dollars. Inquiring minds might be wondering whether or not we are headed for a Goldilocks…

Tipping Point

Cycle based stock screen data weakened as intermediate broad market indicators began to gingerly tick to the sell side. The aggregate net differential between buy side and sell side indications in our screens slipped below the bottom of the 3 month range. Click here to download complete report in pdf format (Professional Edition Subscribers). Try…

Move into the Real World

Countering, the Alice in Wonderland view of “things”, were the comments by Autonation (the largest auto dealer in the US) in it’s conference call explaining why they were slashing orders to the Big Three by 30%. AN advised the auto makers to “move into the real world”, pointing out that Detroit estimates inventories on retail […]

Which in Turn Crazy Quilt

Some interesting takeaway comments from this Bloomberg article:
-Available money is encouraging “barely profitable and highly risky’’ investments, French Finance Thierryr Thierry Breton said last month.
-Interest rates in the main economies have still not been raised enough,’’ Congdonm Congdon, visiting fellow at the London School of Economics and one of the “wise men’’ who advised the […]

Conference Calls: Like Catching a Snake in the Grass

Financial entities now seem hard at work inflating earnings via some largely undisclosed version of (problem?) securities sales, and ratcheting up “fees” to customers. Of course my suspicion is that these transactions are conducted with Enron style off-balance sheet entities, or quasi-related hedge fund operators. But, we aren’t going to get even close to […]