Josh Brown, Joe Weisenthal and Felix Salmon On Charlie Rose

Joe Weisenthal of Bloomberg (formerly of Business Insider); Josh Brown of The Reformed Broker blog, CNBC's Fast Money and Ritholtz Wealth Management; Felix Salmon of Fusion (formerly of Reuters); and Megan Murphy of Fast FT were interviewed by Charlie Rose on 11/18/2014. Watch the video below via Hulu.

"It's A Wonderful Financial Meltdown" (Video)

Here is some mid-week financial entertainment for you by TravTube (Travis Richey).

"George Bailey causes the modern financial crisis."

The S&P vs. Previous Extremes

John Hussman, President of Hussman Investment Trust, is now warning that the market could be peaking out based on historical extremes. In his Weekly Market Comment this week, which can be found at, he mentioned that the "current market environment joins the full range of ingredients that have characterized the most extreme market peaks – and preceded the deepest market plunges – in more than a century of history."

That's some serious language right there! Here's the first paragraph of his Weekly Market Comment titled "These Go to Eleven" along with a chart he provided of the S&P.

JPMorgan: U.S. Trade Is Crowded, Buy Europe

Mislav Matejka, JPMorgan's global equity strategist, told CNBC yesterday to buy Europe because: 1) the U.S. trade is currently very crowded, 2) capital will flow to Europe from the U.S, 3) Europe's credit cycle and money supply are bottoming out, 4) the depreciating euro will provide a tailwind to the European stock market, and 5) sovereign QE at the ECB would only add power to their call.

But JPMorgan doesn't think we'll see sovereign QE at the ECB. They put the probability at less than 50%.

Credit Risk Rose Yesterday Across The Board

According to S&P Capital IQ,

Average CDS spread percent change by sector via S&P Capital IQ

US Dollar Breakout Could Disrupt Global Markets

Some macro strategists believe the probability of a U.S. dollar breakout is high in the near-term, which could erupt a volcano of volatility in the global markets.

First, Raoul Pal, founder of the Global Macro Investor research publication and former co-manager of the GLG Global Macro Fund, told CNBC's Fast Money on November 11 that we are one "global recession away from a tipping point." In the first video, he talked about the inverse relationship between oil and the dollar.

Oil And Gas CDS Spreads Spiked Yesterday (S&P Capital IQ)

According to S&P Capital IQ, oil and gas credit default swap spreads rose 1.54% on average yesterday and they spiked relative to other sectors.

Valuation Warning: The S&P 500 Is In A Bubble

John Hussman, President of Hussman Investment Trust (Hussman Funds), published very important charts in his Weekly Market Comment this week titled "Do the Lessons of History No Longer Apply?" One set of charts looked at market valuation ratios "as the percentage deviation from their historical norms prior to the late-1990’s equity bubble." He looked at 1) price/normalized forward operating earnings, 2) price/10-year earnings adjusted for profit margins, 3) price/10-year inflation-adjusted earnings (Shiller), 4) market capitalization of non-financial equities/nominal GDP, 5) Tobin's Q-ratio, and 6) price/revenue.

ECB's Nov 6 Statement On Its Bond Buying Program, $EURUSD Now At 1.237 (Analysis, Press Conference Video)

First, here was ECB President Mario Draghi's November 6 statement on the ECB's bond buying program via (emphasis mine):
Following up on the decisions of 2 October 2014, we last month started purchasing covered bonds under our new programme. We will also soon start to purchase asset-backed securities. The programmes will last for at least two years. Together with the series of targeted longer-term refinancing operations to be conducted until June 2016, these asset purchases will have a sizeable impact on our balance sheet, which is expected to move towards the dimensions it had at the beginning of 2012.

Our measures will enhance the functioning of the monetary policy transmission mechanism, support financing conditions in the euro area, facilitate credit provision to the real economy and generate positive spillovers to other markets. They will thereby further ease the monetary policy stance more broadly, support our forward guidance on the key ECB interest rates and reinforce the fact that there are significant and increasing differences in the monetary policy cycle between major advanced economies.

ECB And The Eurosystem Explained In 3 Minutes

Source: ECB on Youtube

"Who takes care of the euro? What is inflation? Why is price stability important for you?

Find the answers to these questions and more in this three-minute introduction to the ECB and the Eurosystem's role and tasks."

USAA's Wasif Latif: European Stocks More Attractive Than U.S. Stocks On Relative Value Basis, Need Policy Catalyst

Wasif Latif, Head of Global Multi-Assets at USAA Investments, told CNBC last week that he believes emerging market and European stocks are more attractive than U.S. stocks on a relative value basis.

Dennis Gartman: Stay In Cash And Short-Term Bonds

Bear market alert! On CNBC's Europe Squawk Box this morning, Dennis Gartman, founder of the Gartman Letter, said: