by Graham Summers, Gains Pains & Capital:
It’s often argued that they don’t a bell at the top.
I would argue that we numerous bells ringing in the financial markets today.
Carl Icahn wants Apple to leverage up to boost returns to shareholders. Apple has maintained next to no debt for the better part of ten years.
Now share price is lagging and the goal is to issue a load of debt to buy back shares. Leveraging up companies that have long had little debt is a classic market mania indicator
Hilton is trying to go public. Put another way, one of the largest commercial real estate/ hospitality chains in the world is going public after being private for over 40 years…
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