Most Recent Audio: 20 February 2018

David Fuller and Eoin Treacy's Free (Abbreviated)
Comment of the Day

The more detailed Subscriber's Comment of the Day becomes available for public access after 4 months.

Click HERE to see the most recent free Subscriber's Comment from 20 November, 2017

February 20 2018

Commentary by Eoin Treacy

Video commentary for February 20th 2018

Eoin Treacy's view

A link to today's video is posted in the Subscriber's Area. 

Some of the topics covered include: bond yields and the outlook for inflation, gold pauses at the upper side of its base, Wall eases but Europe steady on weaker Euro, Yen eases and stocks in the region of the MA, bitcoin continues to rebound and the VIX is holding above 20. 

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February 20 2018

Commentary by Eoin Treacy

Email of the day on stagflation

I have been a long-time subscriber and attended the Chart Seminar around ten years ago. Back then you were a young kid and David led the show. Showing no disrespect for David who admire greatly, you have become at least an equal when it comes to your daily audios. I found this weekend's long-term picture very interesting and well done. I think you have properly described where we are at presently and the likely outcomes in the medium and longer terms. I do get the sense over here in the US that we may be facing an environment of Stagflation. With rising inflation and what now looks like slower growth in the near term, combined with a shrinking Fed balance sheet and rising rates, we could be facing some real headwinds for equities. Can you share your insights on an environment of stagflation and what asset classes would generally over-perform and underperform if the past is a guide? Thank you and keep up the great work!

Eoin Treacy's view

Thank you for your kind words. David is a visionary I can only hope to emulate. Luckily, the reason we have always gotten along so well is because we share a very similar world view.

Tax cuts funded with debt, a potential infrastructure bill funded with debt and the prospect of tariffs on steel and other basic commodities all represent inflationary pressures. 

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February 20 2018

Commentary by Eoin Treacy

Japan's executives paid less than Asian colleagues

This article from Bloomberg appeared in the Straits Times. Here is a section:

"The workforce is becoming more and more global, so to attract and retain the best people, you need to be prepared to pay competitive salaries," said Marc Burrage, managing director of Hays Japan. Seniority-based pay systems are among the reasons for Japan’s low salaries, he said. "It’s a concerning situation and if it’s not addressed soon, it will start to bite in terms of productivity."

Eoin Treacy's view

Mrs. Treacy is planning a trip to Japan in April to source Akoya pearls so the girls and I will be tagging along to Kobe and Osaka. I asked a long-time subscriber in Japan what his perception of rising inflationary pressures is. Here is his response: 

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February 20 2018

Commentary by Eoin Treacy

Walmart Tumbles After Slowing Online Growth Jolts Investors

This article by Matthew Boyle for Bloomberg may be of interest to subscribers. Here is a section:


At the same time, Walmart Chief Executive Officer Doug McMillon is trying to convert the company’s brick-and-mortar shoppers into online customers, who spend almost twice as much overall and seek out higher-priced items.

At Walmart’s e-commerce unit, sales rose 23 percent last quarter. That’s less than half the pace of previous periods. The Bentonville, Arkansas-based company had been getting a tailwind from its acquisition of Jet.com, an online upstart that it bought in 2016. Still, the company maintained its full-year forecast for online sales growth of about 40 percent.

The company needs to widen its e-commerce base, especially among younger and professional demographics, said Neil Saunders, managing director of research firm GlobalData Retail.

Eoin Treacy's view

Wal-Mart is spending a lot of money on its ecommerce platform but the cold reality is that its backend is antiquated compared to that offered by Amazon, eBay or Etsy. Maybe it is focusing on selling its own products over those of third party sellers but if that is the case one has to question why it has been marketing to Amazon sellers so aggressively. 
 

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February 20 2018

Commentary by Eoin Treacy

Eoin's personal portfolio update February 16th 2018

February 20 2018

Commentary by Eoin Treacy

2018, the 49th year of The Chart Seminar

Eoin Treacy's view

The first venue for The Chart Seminar in 2018 will be:

Melbourne on April 16th and 17th. We are currently in the process of confirming a venue.  

I will also hold an online seminar, probably in May over the course of three or four days.

There will be another Seminar in London in November and I am in initial discussions with a potential partner about organising a New York Seminar.

If you would like to attend or have a suggestion for another venue please feel to reach out to Sarah at [email protected]  

The full rate for The Chart Seminar is £1799 + VAT. (Please note US, Australian and Asian delegates, as non EU residents are not liable for VAT). Subscribers are offered a discounted rate of £850. Anyone booking more than one place can also avail of the £850 rate for the second and subsequent delegates.

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