Complexity Abhors Volatility
I’ve never been a huge fan of the Eurozone, as longtime readers know, and as this old piece indicates. When times are volatile simplicity is rewarded and complexity punished. Hard guarantees are favored over...
Read MoreAuthor: David Merkel
Book Review: Who Can You Trust With Your Money?
The author of this book has been through the ringer. As one who advised people to be careful in their investing, she found that her husband had been stealing from his investment clients. Shades of Madoff and his...
Read MoreThe Financial Equivalent of Bungee Jumping
One quick note on my book reviews. I have two books read, and ready to review. I am reading Harry Markopolos’ book on Madoff, and am almost done. That book really needed a stronger editor. Next in...
Read MoreBook Review: Buffett Beyond Value
Another Buffett book? Why do we need another Buffett book? We need another Buffett book because Buffett is a complex guy, and not easily corralled into simple explanations that he himself does not provide. This book...
Read MoreBook Review: Higher Returns from Safe Investments
This book gets a mixed review from me. If I were reviewing it 14 months ago, when everything was in chaos, I would have given it a better review. There are time to take credit risk, and times not to. There are...
Read MoreThe Rules, Part XIII, subpart C
The need for income naturally biases a portfolio long. It is difficult to earn income without beneficial ownership of an asset – positive carry trades will almost always be net long, absent major distress or...
Read MoreThe Rules, Part XIII, subpart B
The need for income naturally biases a portfolio long. It is difficult to earn income without beneficial ownership of an asset – positive carry trades will almost always be net long, absent major distress or...
Read MoreThe Rules, Part XIII, subpart A
The need for income naturally biases a portfolio long. It is difficult to earn income without beneficial ownership of an asset – positive carry trades will almost always be net long, absent major distress or...
Read MoreThe Rules, Part XII
Growth in total factor outputs must equal the growth in payment to inputs. The equity market cannot forever outgrow the real economy. This is the “real economy rule,” and was listed first in my document, but i...
Read MoreFOMC Comparison April 2010
Sorry that I did not do this in real time. When the FOMC released its report, I was with my sons touring college campuses. Anyway, here is the comparison: David J. Merkel, CFA, FSA 28 April 2010 April 2010 Redacted...
Read MoreFree E-Book
TraderPlanet’s Quick Guide to Candlesticks
