Using Veritas to Construct the "Per…

29-04-2017 Hits:82127 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:77755 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:77323 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:82072 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:78663 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:80955 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:47836 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:79666 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:79186 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:79736 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:84715 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:81662 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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Here are some additional tidbits of info on PNC's primary lending markets to serve as an adjunct to the PNC research I released the other day. Remember, this is all to be taken against the backdrop of the macro bank research that I released as well. If you haven't notice, when I take a short position, I am quite serious about it.

PNC Financial Services Group, citing the credit crunch currently roiling the financial services industry, shut down a program in December 2007 that offered home-equity loans via third-party mortgage brokers. PNC plans to close all brokered loans by Feb 29, 2008.release a couple of days ago. This is a trend among many, if not most banks. Reduce the risk and exposure to the HELOC market, and reduce or eliminate origination through brokers.

 Links:

http://www.post-gazette.com/pg/07359/844273-28.stm

http://www.gazette.net/stories/123107/businew134530_32356.shtml

The branch network is located primarily in Pennsylvania, New Jersey, Washington, DC, Maryland, Virginia, Ohio, Kentucky and Delaware.

The following are the micro trends in those areas where PNC has just concentrated (by reducing broker production to zero):

 

        2006 2007 2008        
Pennsylvania (Aggregate) Personal Bankruptcies 77,587 40000 48020        
    House Price Index 144.2 147.4 144.3        
    Unemployment Rate 5.2 5.0 5.1        
    Housing Permits (total units) 44,019 40,300 38,840        
      -% change in bankruptcies   -48.4% 20.1% Consumer financial lines pressured  
      -% change in housing permits   -8.4% -3.6% Mortgage originations pressured  
      -% change in Housing price index 2.2% -2.1% Extant LTVs increased    
    Philadelphia metro division Personal Bankruptcies 11,439 6,899 7,244        
    House Price Index 219.1 222.6 217        
    Unemployment Rate 4.7 4.4 4.5        
                     
    Pittsburgh   Personal Bankruptcies 12,577 7,731 9,275        
    House Price Index 158.4 164.2 159.1        
    Unemployment Rate 4.9 4.3 4.9        
                     
   Scranton/Wilkes-Barre MSA Personal Bankruptcies 2,114 1,162 1,362        
    House Price Index 171.8 182.2 177.3        
    Unemployment Rate 5.3 4.9 5.1        
                     
New Jersy   Personal Bankruptcies 48,811 30,800 36,600        
    House Price Index 521.4 574.6 618        
    Unemployment Rate 4.4 4.7 4.9        
    Housing Permits (total units) 38,375 35,200 31,300        
      -% change in bankruptcies   -36.9% 18.8% Consumer financial lines pressured  
      -% change in housing permits   -8.3% -11.1% Mortgage originations pressured  
      -% change in Housing price index 10.2% 7.6% Extant LTVs decreased (this trend is reversing though)
                     
Washington D.C. Personal Bankruptcies 12,071 8,927 10,758        
    House Price Index 278.8 280.2 267.2        
    Unemployment Rate 3.1 3.1 3.6        
    Housing Permits (total units) 27,958 22,402 17,505        
      -% change in bankruptcies   -26.0% 20.5% Consumer financial lines pressured  
      -% change in housing permits   -19.9% -21.9% Mortgage originations pressured  
      -% change in Housing price index 0.5% -4.6% Extant LTVs increased    
                     
Maryland - Baltimore Personal Bankruptcies 11,493 5,990 7,187        
    House Price Index 248.9 259.9 259.4        
    Unemployment Rate 4.10 4.00 4.60        
    Housing Permits (total units) 8,133 5,902 4,595        
      -% change in bankruptcies   -47.9% 20.0% Consumer financial lines pressured  
      -% change in housing permits   -27.4% -22.1% Mortgage originations pressured  
      -% change in Housing price index 4.4% -0.2% Extant LTVs increased    
                     
Ohio   Personal Bankruptcies 133,522 70,000 84,000        
    House Price Index 268 277.1 286        
    Unemployment Rate 5.9 5.5 5.7        
    Housing Permits (total units) 47,401 43,050 41,310        
      -% change in bankruptcies   -47.6% 20.0% Consumer financial lines pressured  
      -% change in housing permits   -9.2% -4.0% Mortgage originations pressured  
      -% change in Housing price index 3.4% 3.2% Extant LTVs decreased (I expect trend to reverse though)
                     
Delaware (Aggregate) Personal Bankruptcies 4150 2500 3100        
    House Price Index 451.4 496.8 531.3        
    Unemployment Rate 4.2 4.0 4.2        
    Housing Permits (total units) 8,195 7,000 6,460        
      -% change in bankruptcies   -39.8% 24.0% Consumer financial lines pressured  
      -% change in housing permits   -14.6% -7.7% Mortgage originations pressured  
      -% change in Housing price index 10.1% 6.9% Extant LTVs decreased (I expect trend to reverse though)
                     
   Wilmington Metro Division Personal Bankruptcies 2,025.30 1,504.80 1,700.40        
    House Price Index 213.2 220.2 212.5        
    Unemployment Rate 4.0 3.5 3.6        
                     
Kentucky   Personal Bankruptcies 39,860 21,000 26,200        
    House Price Index 271.8 282.7 292.9        
    Unemployment Rate 6.1 5.8 5.9        
    Housing Permits (total units) 8,133 5,902 4,595        
      -% change in bankruptcies   -47.3% 24.8% Consumer financial lines pressured  
      -% change in housing permits   -27.4% -22.1% Mortgage originations pressured  
      -% change in Housing price index 4.0% 3.6% Extant LTVs decreased    
                     
PNC's regional profile Unemployement   4.7 4.6 4.9        
      -% change in bankruptcies   -42.0% 21.2% Consumer financial lines pressured  
      -% change in housing permits   -16.5% -13.2% Mortgage originations pressured  
      -% change in Housing price index 5.0% 2.1% Extant LTVs decreased slightly, with a general reversal in trend back to higher LTVs for the medium terms