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’America, healing? Not in Bob’s world
When you start talking about US growth in 2012, it’s hard to stop. The huge November consumer credit increase being a case in point. Plus a long slew of comfy data on auto sales, jobs…
So if you’re looking for a snappy corrective — here’s a précis of the opposite view,
Bob the Bear is expecting more of the same in 2012
The traditional 2012 outlook report is not for Bob ‘The Bear’ Janjuah and his sidekick Kevin Gaynor. The Nomura strategists want to keep things simple and to the point.
So their final note of the year comes in the form of Q&A.
I will happily position against optimism on the US economy
Say what you like about Bob Janjuah (and plenty of readers have – Ed) but he always has a view.
And Friday’s report — an appetizer for his 2012 outlook piece — is no exception. A hard default is probable in Europe,
Greed and fear with Bob the Bear
And now for something completely different.
In his latest note to clients, Nomura’s Bob Janjuah goes all technical:
In terms of the secular outlook, I wanted to do something different, so I have included below a classic Greed &
We are in a secular bear market
For someone who hasn’t got much to add about the current state of the market, Bob Janjuah still manages to crank out 1,500 words in his latest piece for Nomura.
Bob firmly believes we are in a third stage of a secular bear market,
Stylised facts from Bob and Kevin
Bob ‘the Bear’ Janjuah and sidekick Kevin Gaynor are ready for a new school year at Nomura.
To help prepare, the strategists have compiled a smorgasbord of “stylised facts” to guide investors.
And here they are:
Bob Janjuah’s 3 Words
Bob ‘The Bear’ Janjuah has filed his last piece before heading off for his summer hols.
The Nomura man is still forecasting a risk-on melt-up over summer (the S&P 500 into the 1,400s by September,
Bob’s on bear alert
Nomura’s Bob ‘the bear’ Janjuah returned to his keyboard last week.
Not much has changed since then. He still thinks Greece, Portugal and Ireland are insolvent nations, the developed world isn’t really recovering economically (hello,
Bob Janjuah – told you so America
Nomura’s sceptical strategist Bob ‘the bear’ Janjuah is feeling very pleased with himself, following S&P’s decision to revise its long term outlook on the USA to “negative”.
As well he might.
Only last week Bob wrote the following:
Bob the bear sees a hard landing ahead
And it ain’t pretty.
Nomura strategist (and former FT Alphaville guest editor) Bob Janjuah is out of hibernation again.
Bob reckons we’re still broadly in a risk-on phase but don’t worry (or, actually,
On not accepting QE3, with Bob the Bear
Remember when Bob the Bear went bullish?
Bob Janjuah and Kevin Gaynor — global macro strategists formerly of RBS, now based at Nomura — said in October that markets were set to turn strongly ‘pro-risk’,
Bob the Bear comes out of hibernation
Bob the Bear — aka Bob Janjuah — is back, in an FT Alphaville exclusive.
The lovable perma-bear has, together with sidekick Kevin Gaynor, moved from being RBS’s chief markets strategist to co-head of cross-asset allocation strategy at Nomura.
Farewell for now, Bob
Bob Janjuah is moving on.
The permabear (and guest FT Alphaville editor) has left RBS but here’s the good news for fans of the most pessimistic strategist in the Square Mile – he’s not going to the buy-side.
Get liquid
It’s “Caps Lock” time again. Bob ‘The Bear’ Janjuah has followed Monday’s missive, AN ÜBER BEAR EARLY WARNING ALERT, with a tactical update.
And the message is simple – use any bull trap to OFFLOAD risk and get liquid.
AN ÜBER BEAR EARLY WARNING ALERT
The use of “Caps Lock” can only mean one thing — Bob ‘the bear’ Janjuah is back.
And his latest missive — the first since the euro meltdown — does not dissapoint.
Dear All
I am deeply troubled by the world and markets.
‘Some horrendous Keynesian/monetarist nightmare’
Bob Janjuah is back and in his latest note we find the RBS strategist in reflective mood.
Maybe its the return of sunshine, maybe its because I have moved back into my lovely ‘new’ home after 6mths of renting &
[Bob and Kevin on AV] RBS’s HiPPo
Ross Walker is our chief UK Economist and he has developed a publication which, on a weekly basis, analyses the latest opinion polls in order to assess the likely outcome of the upcoming UK General Election.
[Bob and Kevin on AV] Sovereign limits
Whilst our wives may not always agree, the time Kevin and I spend on the road seeing clients together tends to be the most productive in terms of getting a handle on what the global investor community is ‘thinking’.
[Bob and Kevin on AV] Guest editing for the day…
Bob Janjuah and Kevin Gaynor, RBS Chief Markets Strategist and Chief Markets Economist, respectively, will be guest editing FT Alphaville on Wednesday.
This will be a genuine treat for readers, who know Janjuah as “Bob the Bear.”
The next leg of the great bear market has begun…
. . . so says Bob Janjuah, chief strategist at RBS, who is convinced — now more than ever — that the policy-sponsored excess liquidity-enabled buy fest is over.
I now think we have begun the 3rd and final leg of the multi-yr bear mrkt which began in 2007 and which SHOULD,
A second helping of Bob
On Monday Bob Janjuah, chief strategist (and bear) at RBS, put digit to keyboard for the first time since November.
Kicking off with a quote from Cicero the 3000+ word note (written in the style of an SMS message) concluded that 2010 would be the year when the chickens came home to roost for the “debt binge currently being undertaken by some critically important sovereigns”
Austerity is the way… (updated)
…according to Bob Janjuah, chief strategist at RBS, who has just published his 2010 outlook piece. We can report that it has an intriguingly pro-Eurozone flavour.
It’s also very, bearish. So much so that some of it might even make Albert Edwards and his colleagues wince.
The S&P is heading for 800
That’s the message from Bob Janjuah, RBS’s Chief Markets Strategist in his latest missive titled “Happy Christmas, Cold Turkey Time”:
We said in late Aug that S&P would get to 1100/1120 by end Oct/early Nov.
Bob’s back
RBS’s chief strategist Bob, ‘The Bear’, Janjuah has returned from his summer travels and he is as bearish as ever.
In fact his latest missive is at times almost apocalyptic:
I do however think that we are VERY MUCH in the tail end of the correction of the Oct 07 to Mar 09 bear move,
Stopped out
Some burnt fingers round at RBS on Thursday.
In his last note before jetting off to Barbados for his summer vacation, RBS strategist Bob “The Bear” Janjuah told clients that if the S&P 500 closed above 1,022 for four consecutive days he would concede that the lunatics were now running the asylum and close his short position:
Great, great, under-expectations:What the pundits say
Following FT Alphaville’s various posts this week on the growing debate about the equity market recovery – including Wednesday’s insights from The Pragmatic Capitalist and this from Gluskin Sheff chief economist David Rosenberg – Lex on Thursday notes the recent rise in “contrarian measures”
“Austerity vs currency debasement” (Bob’s with Marc)
Mr Faber may have stolen the pixel-bite on Wednesday with his prediction of hyperinflation in the US (he even used the Z-word), but there is a manic tone to the commentary coming out of a number of avowed bears.