I like investing internationally, because of the diversification it offers, both in stocks and bonds. Or, think of it as a hedge. Will the American Experiment continue to prosper? We have come a long way from the Founding...
Read MoreBen Bernanke has an editorial in the Washington Post that attempts to defend the Fed. Here is my discussion of his editorial: These matters are complex, and Congress is still in the midst of considering how best to reform...
Read MoreWhen I was a grad student, I always felt weird about Keynes. I grew up in a home that was not explicitly “free market” but was implicitly so. My Dad was a small businessman and my Mom was a retail investor (as well as home...
Read MoreEvery one one us has limited bandwidth for analysis of data. We pick and choose a few ideas that seem to work for us, and then stick with them. That is often best, because good investors settle into investment methods that are...
Read MoreThere are always areas of excess in every market boom phase. Dubai is an example of that. Why can they build the tallest building, and construct islands in the Persian Gulf? Cheap capital, riding on the oil boom, sent Dubai...
Read MoreI do a reflective piece every 100 posts, because I like to take a step back, and share my heart with those who read me. It is fun for me writing this blog, even more than when I wrote for RealMoney. Why better than RealMoney? ...
Read MoreI love economic history books. The book that I am reviewing tonight is different because unlike most economic history books, it is mainly empirical rather than mainly anecdotal. Don’t get me wrong, one good anecdote can deliver...
Read MoreAt the meeting of the eight bloggers and the US Treasury, one of the differences was whether the recovery was real or not. The Treasury officials pointed to the financial markets, and the bloggers pointed at the real economy...
Read MoreBefore I begin this evening, I would like to comment on my absence for the last week. I gave a talk on Friday to the Southeastern Actuaries Conference. I found myself behind the eight-ball, because of my many other projects,...
Read MoreImagine for a moment that you were approached by a very wealthy foundation, and they asked you to invest their money. They offer a low asset-based fee, but the assets are so large that it looks like a dream to you. Then they...
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