Morning Journal---QE isn't over, it has just changed

News on Stocks in Our Portfolios

AmeriGas Partners misses by $0.03, misses on revenue

·         AmeriGas Partners (NYSE:APU): FQ4 EPS of -$0.58 misses by $0.03.

·         Revenue of $560.25M (+5.3% Y/Y) misses by $23.03M.

 

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 1.5% versus the prior week and up 2.1% on a year over year basis; Redbook Research reported month to date retail chain store sales down 1.0% versus the comparable period last month but up 3.8% versus the similar timeframe a year ago.

            September wholesale inventories rose 0.3% versus expectations of up 0.2%; sales rose 0.2%.

            Weekly jobless claims rose 12,000 versus estimates of up 2,000.

   Other

            QE isn’t over, it has just changed (medium):

            http://www.nomiprins.com/thoughts/2014/11/10/qe-isnt-dying-its-morphing.html

            The G20 apparently will announce that large bank deposits are now just a part of the bank’s capital structure.  This can’t possibly work out well. (medium and a must read)

            http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies

            Corporate profit margins versus employee compensation (short):

            http://dshort.com/