Monthly Archives: August 2014

There was No “De-Leveraging”

Posted on August 17, 2014 by Ray Galkowski, CFA

Ray Dalio of Bridgewater is fond of calling our government bailout a “beautiful deleveraging” (http://www.bwater.com/Uploads/FileManager/research/deleveraging/an-in-depth-look-at-deleveragings–ray-dalio-bridgewater.pdf) probably because he bet correctly that the flood of liquidity would lift all boats in the short run. But, I have been arguing the point in … Continue reading →

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Bloomberg Article on the Myopia of Buying a Vacation Home

Posted on August 17, 2014 by Ray Galkowski, CFA

When viewing a vacation home as an investment, most fail to account for all of the costs associated with home ownership. Even after the investment is sold, people overestimate their return because they fail to track all of the costs. In most … Continue reading →

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