I have spilled a huge amount of ink about Quantitative Easing and its impacts over the last 5 years (see here). One of my key points about QE is to highlight how it probably hasn’t had as much impact on the broader economy as some people tend to imply. In other words, it’s not as stimulative as many think….
Is Gold Becoming Another Regular Old Commodity?
One of my more controversial views in finance is that gold will one day be viewed as a mere commodity and not a form of money. My reasoning for this view is simple…
The Greatest Lesson From Warren Buffett
I really like this point from Mark Hulbert in his latest at MarketWatch where he’s framing the discussion on Warren Buffett’s wealth:
Bernanke Reveals the Reality of the Fed’s Triple Mandate
Ben Bernanke gave his first public speech in an appearance in Abu Dhabi and boy was he unusually candid. I found one comment to be particularly interesting. He says he would have liked to do more for the average person, but that there’s a harsh reality about how the Fed can actually help the real economy:
Marks & Gundlach: Beware Junk Bonds
There’s been some cautionary commentary in recent months from some bond market heavyweights. Most notably, Howards Marks and Jeff Gundlach.
The “Hot Hand” Exists, but Does it Matter?
a new study presented at this week’s MIT Sloan Sports Analytics Conference is putting that 40 year old conclusion in doubt. The author’s find that a game of skill like basketball does display elements of the “hot hand” effect.
Retail Investors Slowly Stepping Back into Stocks
The latest AAII asset allocation survey showed a continued upward crawl in retail investor stock bullishness. The latest equity allocation reading came in at 66.9% which is above the historical average of 60%. This is the eleventh straight month of 60%+ readings which is the longest streak since before the financial crisis.
Boom/Bust Interview: Macro Thoughts
I was back on Boom/Bust today discussing the macro view. We covered a lot of ground including:
Thinking About Price Compression
In my view, “risk management” is largely about understanding the big picture so you can better decipher the world.