“A rather classic feature of speculative peaks is the eagerness of speculative companies to issue equities to the public while the getting is good. On that front, fully 78% of the initial public offerings over the past 6 months are companies that have negative earnings; a percentage that eclipses both the previous record of 76% at the height of the tech bubble in 2000, as well as the second-highest extreme of 65%, which was set, not surprisingly, in April 2007 during the distribution phase that preceded the 2007-2009 market collapse. Likewise, private equity firms have been dumping their ownership stakes at a record pace.”
http://www.hussmanfunds.com/wmc/wmc150706.htm
Related posts:
Welcome to Post-Constitution America
Larken Rose: What's So Bad About Nazis?
State Battles vs. Private Battles
The NSA and Its “Compliance Problems”
Bruce Schneier: Why are we spending $7 billion per year on TSA?
The Story of Kidnapped Costa Rican Internees in One of America's World War II Concentration Camps
A Thanksgiving for JFK
An Armed People in Mexico and Their Threat to the State
Ask James, Part II: How to Be a Millionaire, How To Be Ugly, How to Network, Back To School Reading ...
The Iraq War: 10 Years Later
Bill Bonner: Too Busy to Read Ben Graham? Do This Instead…
John Whitehead, America’s Reign of Terror: A Nation Reaps What It Sows
Note to Fed: Giving the Banks Free Money Won't Make Us Hire More Workers
Qatar: Rich and Dangerous
Deadly ‘swatting’ hoaxes and the dangerous conditioning of cops