Not a bad day for the Yandex (YNDX). Up 57% after opening up around +40%. Once it broke over the early day highs of $36, off it went for a new leg up. So at this point all the valuation metrics I pointed out this morning, have to be increased by about 1.6x. Or do what everyone else is doing and don't worry about valuation metrics and simply "buy buy buy".
As to the greater market, still not a fan of this action. Remaining cautious. Will be interesting to see if the normal end of month 'mark up' games ensue at the end of the week, especially with everyone who matters in the Hamptons Friday.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows