As markets reach all-time highs in the backdrop of sell-side pundits smiling for the camera, some of you might be scratching your heads. Many of you, I'm sure are hearing from your advisors, who have a vested interest in keeping you long the markets and long their asset-based fee models. Read more »
Clients and investors are increasingly asking the same sensible questions: how do global central banks work? The ECB? The Federal Reserve? The Bank of Japan? The People's Bank of China? Are they really behind this market bull? Is investing still based on natural indicators and forces? How can we make sense of it all?
Sometimes stories are more fun than just statistics, and to answer these types of heavy questions, I like to tell the following story. Read more »
Ah, the good old days. I was barely old enough to shave and hardly knew a stock from a bond when the dot.com/NASDAQ bubble of 2000 made me almost look like... a hedge fund manager.In one year (and 2 IPO's), our start-up fund was up nearly 400%-all due to pure luck and a rising tech sector. I was a 20-something riding what I thought was a once-in-a-lifetime wave of crazy. Read more »
Needless to say, my views on the central banks, the bond markets and global politics are anything but kind or optimistic...
After all, these markets are just crazy. But crazy-as we've seen in everything from reality TV to the highly profitable war on terror, can go on far longer than sanity might otherwise assume... Read more »
I recently shot an informal video from Arlington National Cemetery touching upon the economic costs of the US Warfare State. In that ad-hoc report, I promised to post a chart that put the entire US debt discussion into simple perspective. Read more »