This is a basic book. If you are trying to introduce someone to investing, this would have value. It uses concepts familiar to every man to explain that there is nothing amazing about good investing — it is just common sense...
Read MoreThis should be my last post on Trills. Let me begin it by suggesting that we sell all of our national parks (and other land owned by the US Government) to the Saudis in exchange for forgiveness of our debts. Wait, we could do...
Read More1) Yield-seeking — it is alive and well. Check out this article on pay-in-kind bonds. With PIKs, one can be concerned with the return on the money, and the return of the money at the same time. The history of returns on PIK...
Read MoreMy article on Dr. Schiller’s idea of Trills was warmly received in some quarters, and not in others. Though I think Trills are a very bad idea for financing the US Government (though I think the US Government is not creative...
Read More1) There is a new blog that I recommend: Macroeconomic Resilience. I have commented there recently, and I think that he understands the complexity of markets in ways that most Ph. D. economists don’t. Here is a recent post,...
Read MoreMy first real post at the blog was Yield = Poison. In late February 2007, prior to the blowup in the Shanghai market, I felt frustrated and wanted to simply say that every fixed income class seemed overvalued. Short and safe...
Read MoreAs I roll through the day, i often make comments on the blogs and websites of others. I suppose I could gang them up, and post them here only. I don’t do that. Other sites deserve good comments. Today, though, I reprint them...
Read MoreOne reader asked me: David do you have a Top 10 book list on Economic Theory for beginners? Just finished “The Myth of the Rational Market” and loved it. But I don’t know what to read next. Or let me ask the question another...
Read MoreI remember the debates from the late 70s or early 80s about government borrowing out private borrowing. At that time, I thought it was likely, but it was seemingly proven false. If nothing else, the long time of survival after...
Read MoreWhat would you pay for a bond that offered to pay you $1/year, but would increase its payment by 3.4% each year? Assume that bonds that offer no increase in payment, but offer $1/year currently yield 4.4%, for a price of...
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