Tag Archives: Free Markets

The GD Words were used at the CFA Institute’s European Investment Conference

Uh oh. …MIT Sloan School of Management professor Simon Johnson didn’t equivocate on the perils of the current global economic environment. “We have built a dangerous financial system in the United States and Europe,” said the former chief economist at … Continue reading

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Capital Economics on the Bailout’s Fanciful Notion

Interesting DJ Newsire Market Talk story: DOW JONES NEWSWIRES 1:04 (Dow Jones) “Even if the Greek referendum problem is ironed out, hopes within the euro-zone that governments from outside the region will contribute to an increase in the ‘firepower’ of the … Continue reading

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Baby Toursim: US Problem or Opportunity?

Brian Williams’ new show, Rock Center, broadcast this evening with a piece on wealthy foreign pregnant women–many Chinese–who are coming to the US to give birth so that their children can receive citizenship and a Social Security card. Many are outraged … Continue reading

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Counterfactual Friday: The CAPE

Current Market Perspective: Moderately bearish based on three pieces of information: Our bottom-up security selection process is revealing few bargains; Total public and private debt in developed countries is unsustainably high relative to GDP and will require long, painful de-leveraging … Continue reading

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“First, Get a Trillion Euros…”

The market is soaring today on the Greek bailout plan, or should we say the European bailout plan because, lest we forget, there are several more countries that still need a bailout. The plan is amusing to me, though I should … Continue reading

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Power Laws at Work in Financial Markets

I am working on a good post for the first “Counterfactual Friday.” Unfortunaltely it will probably not be posted until Monday. In the meantime enjoy the following: I have attached a link to a terrific article on power law distributions and … Continue reading

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Just What is Seth Klarman up to? It May not be What Optimists Believe

Apparently, Seth Klarman is in the market for capital. This is always news because Klarman has a reputation for shunning capital from new investors and frequently returning excess capital to existing investors. However, the author of the attached story has … Continue reading

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Many Well Known Hedge Funds are Having Bad Years

Where’s the hedging?… With data flowing in now, it is apparent that a large number of hedge funds are in the red this year and several dozen are down by double-digit rates. They include many well-known names that run billions … Continue reading

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Andy Kessler on the Source of Real Contributions to Society

Anyone who has studied Austrian School economics–Böhm-Bawerk, Hayek, von Mises, etc.–will not be surprised by Andy Kessler’s comments on the source of real social progress: Virtually all of it comes from our entrepreneurs who invent and create the goods and … Continue reading

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Excellent George Will Column on the Hyperactive Regulatory Environment

I found out last week that in my industry, the new Dodd-Frank law says that if I decide to manage investments in separately managed accounts (SMA) for my investors in addition to the private investment fund that I currently manage, it will trigger … Continue reading

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