Today Market



Why would there be a recession?


Because too much rate increase last year


Possible. That’s why it’s good they are pausing.


Also tech saturation is bad for nasdaq


Yield curve impact on banking operation “Maturity Transformation” results banking failure. FED senses the danger now, stopping rate hike so that 10 year must appreciate.

I heard from reddit (analysts are there) that appx 50% of banking operations falls into “Maturity Transformation”

Here is the paper

Naturally, stock drops affects their investment return and merchant banking operations…domino effect of credit economy.


Mixed. Semis are doing well. Consolidation seems to have started for others.


Wow, she’s not the chair anymore, but I’m sure the board members read what she says. Slowing global growth is a worry, because it would eventually impact the US.


Cut it! Cut it!!! :smiling_face_with_three_hearts:


I didn’t even know this was possible. Most companies announce earnings and file the audited 10-Q or 10-K later. You don’t see much if any media coverage if the audited results don’t match what was previously reported. That’s insane. It shouldn’t be legal to announce earnings without audited results.


@marcus335 - thanks for posting this. Sounds like the lessons of Enron, Arthur Andersen, and Sarbanes-Oxley have faded 2 decades on. How easily we forget…


Auditors can only audit once a year. Auditing 4 times a year is overkill.


They audit every quarter.


No they don’t. If you read the 10-Q they specifically state that the report is “unaudited.” They only review the numbers every quarter and audit once a year.


Big companies always go through many audits, internal, third party and even various state governments, federal government.

For example: FAANG companies, each one will have 10+ different audits will be going on at any time.

See my next reply why they have challenges

Every audit may take 6 weeks (very rare) to 18 months (or even more) depending on the party involved. Government audit is really hard to face as they demand money.

Quarterly results are published within 15 to 30 days of closing closing the books. They many not have sufficient time to audit, but will eventually go through audits.

The difference must be very minimum. Even auditors can spot check, trace some transactions, but can not entirely make it correct.

Same documents, if ten different auditor groups analyze, each will come up with different answers and will never tally.

The only issue is, if there is major difference found and they did not declare to SEC/Public, the CEO+CFO are held accountable. If they are found guilty , they (CFO and/or CEO) are put in to jail.

Year 2000, Enron issue created SOX and CEO+CFO are accountable for the financial results/declaration.


That’s insane. Those firms collect way too much money for so little work.


Consolidation started!


Just a little dip after a big recovery. Come on, don’t act like Manch… :smile:


:scream: :scream: :scream:


It may not have so much volatility now as market is testing its strength around SMA200 level. IMO, Market (S&P) is still below its current run peak.

Rough idea is that market is safe in green state until 2800 (S&P) and enter into red zone, i.e., it can fall any time after reaching 2800 as Cyclic turn happens around that level.


It can stop at 5000.