Saturday, April 4, 2026 
Magazine Files 16.May.09
(Zero Hedge)
“Notable is also the collapse in M&A deal volume. The facts that companies are unwilling to spend either cash or stock currency in order to grow, should be very indicative to primary equity investors who, despite this graph demonstrating that no companies are even considering expanding in this environment, keep on purchasing follow on offerings in the crappiest of sectors for totally unfathomable reasons.”
Russia Stockpiles Diamonds, Awaiting the Return of Demand (New York Times)
“As a result, Russia has become the arbiter of global diamond prices. Its decisions on production and sales will determine the value of diamonds on rings and in jewelry stores for years to come, in one of the most surprising consequences of this recession.”
Federated’s Tice Says S&P 500 Is Poised to Plunge 62% (Bloomberg)
“The Standard & Poor’s 500 Index’s 28 percent rise since March 9 is a “sucker’s rally,” and the overvalued measure may plunge 62 percent as earnings continue to shrink, according to David Tice of Federated Investors Inc.”
David and I agree. I mention my long term target for the S&P in this comment.
Peace
