Tag Archives: Risk

New Link in the Value Investing Resources Section: Hedge Fund Letters

I have added Hedge Fund Letters as a value investing resource even though some of the hedge fund managers there are not value investors. Most value investors who truly wish to be contrarian and invest only when there is a … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , , , , , , , | Leave a comment

Kyle Bass on Japan and Europe at a Darden School Conference

Michael Lewis opens his latest book, Boomerang, which can be found in the bookstore above, with a vignette about his meeting in 2008 with Kyle Bass of Hayman Capital. He left the meeting thinking that Bass was a bit of … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , , , , | Leave a comment

A CNBC Market Master’s Two Remarkable Statements

Larry Fink of BlackRock is CNBC’s newest member of their “Masters of the Markets” club. “That and a dime will get you a phone call” was an expression used during the pay phone era to demonstrate that the recognition was … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , , | Leave a comment

The European Debt Crisis is a Known Unknown, but this…

As I wrote before, the market’s dramatic rise in the face of the daunting problems that we know about seemed absurd, especially when unknown unknowns are always with us. China is one, but this may be the ultimate wild card: Israel … Continue reading

Share
Posted in Uncategorized | Tagged , , , , | 1 Comment

It’s 1931

I channel Dow Jones Market Talk, which channels Brad DeLong, who channels Rogoff, Reinhart, and Krugman. MARKET TALK: It’s 1931 DOW JONES NEWSWIRES 5:20 (Dow Jones) “I have been complaining for some time now that Reinhart and Rogoff think that … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , | Leave a comment

It is Unfortunate that Professional Sports Franchises are not Shortable

I suspect these stories are an omen for the Wilpons’ continued ownership of the Mets: Mets will pay 3 percent interest to investors http://www.nypost.com/p/news/business/mets_next_pitch_WTbeypwaj93Lp1Mb58gOQN#ixzz1cr5G1BU4 Mets lay off 10 percent of staff http://www.nypost.com/p/news/local/queens/front_office_met_ax_uFsH3565WnN4JOaARQlTvJ If Reyes waits, he’ll get big bucks — but … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , | Leave a comment

Mr. Market Yawns at G-20 Failure to Fix Europe’s Problems

In the last 45 minutes of trading on October 4, the US stock market shot up almost 4% on a rumor that France and Germany would talk about a plan for the Euro debt crisis. Since then European leaders have met several … Continue reading

Share
Posted in Uncategorized | Tagged , , , , , , , , , | Leave a comment

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

Share
Posted in Uncategorized | Tagged , , , , , , , , , , | Leave a comment

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

Share
Posted in Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

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

Share
Posted in Uncategorized | Tagged , , , , , , , , , , , , | Leave a comment