Category Archives: Uncategorized

Monday Reads

Shiller on market valuation Don’t be a forced seller, and don’t trade ETFs. It’s time to kill the Greenspan Put. An updated automat in San Francisco

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More Jim Grant (Asset mis-pricing)

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Jim Grant on manipulated markets

Key quotes: “The Great Sedation” and “Low interest rates flatter projected future cash flows.”

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Quote of the day

“Your honor, everyone in the industry was doing the same thing” is an actual defense, even if you bankrupted your client. — Brett Arends

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Shiller: This isn’t news; valuations have been high

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Weekend Reads

Sunday Gretchen Morgenson on bad disclosure by bank loan funds Bloomberg piece on Brad Katsuyama ——————– Henry Blodget says market-timing is hard, but stocks are expensive, so you should prepare for 7-10 years of subpar returns. Brett Arends also says … Continue reading

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Most recent Marketwatch piece: Don’t count on Buffett-like market returns

Click on the pic below to read the piece.

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Should university endowments spend 8% per year?

This is an interesting piece on university endowments and the fees they pay to private equity managers — often more than they spend on students. But the proposal to spend 8% seems dangerous to me, given that we’re in such … Continue reading

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Quotes of the day

These people who wander around saying that the economy is picking up steam are living in this weird kind of academic, inflation-adjusted world because nominal GDP has not been gaining traction.” The people saying that interest rates won’t matter – … Continue reading

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Any bullets left in the gun?

Good WSJ piece on how the government might (or might not) respond to another crisis or bout of deflation.

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