Notes
I’m on the road in Denver, and tomorrow I deliver this talk Efficient Markets versus Adptive Markets. It is similar to the talk I gave to the Society of Actuaries, but has less background data, and focuses on how...
Read MoreAuthor: David Merkel
On Force-Placed Homeowners Insurance and the Effect on Investors
I had a number of people ask me today, so tonight I am writing about the American Banker article on Force-placed homeowners insurance, and its impact on Assurant, which was down 11% on the 10th. To give an example, one...
Read MoreComment on: Was It All Just A Bad Dream? Or, Ten Lessons Not Learnt
I have the fun of speaking at the Burridge Center Conference at the University of Colorado at Boulder this week on Friday. The CFA Society of Colorado is co-sponsoring it. As a guide, they have asked my panel to...
Read MoreAsk Ben Bernanke
A brief note this night, because troubles overwhelm me. If you know Ben Bernanke, or any of the FOMC members, ask them this: where has quantitative easing ever proved to be effective? Expect the intellectual...
Read MoreMoving Backwards, or not
On Saturday of last week, I cleaned my office, and filed everything away. I also sat down and wrote out all of the things that I needed to do to make my asset management business go live. It had 14 items. Here...
Read MoreRedacted Version of the November 2010 FOMC Statement
September 2010 November 2010 Comments Information received since the Federal Open Market Committee met in August indicates that the pace of recovery in output and employment has slowed in recent months. Information received...
Read MoreThe Fed Loses Twice
The Fed lost twice tonight, in that it will face a more skeptical Congress, and that fiscal policy will be jammed for the next two years, meaning that so-called monetary policy will have to do more of the heavy lifting. Bad...
Read MoreOn Long Blog Comments
I appreciate those who comment at my blog, even those who run on and on. I will go further: you have a talent, and why waste it at my blog? You have ideas and energy. Build your brand. Why waste your wisdom on...
Read MoreTime to Grow Up
This is a post about economics, but it will probably sound more political than most. Part of being mature is learning to live within boundaries. No, not everything is possible. Immature people like Bush II,...
Read MoreThe Portfolio Rules Work Together
Here are the eight rules with links to my recent pieces: Industries are under-analyzed, relative to the market on the whole, and relative to individual companies. Spend time trying to find good companies with strong balance...
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