Do $100 Million Apartments Mean We Are in a Bubble ?
Be on Guard Against Bubble Sightings A surge in the number of super-expensive houses for sale doesn’t tell us anything about the...
How Reproducible is Alpha?
Is alpha, the Wall Street term for market-beating returns, sustainable? Or is it a unique, statistical outlier, indistinguishable from...
Click-Bait Memes, Repeated Annually
What if you saw a headline that said that a brilliant billionaireinvestor, whose every move is closely watched, had put on a trade that...
10 Good Beach Reads, Just in Time for Memorial Day
Memorial Day weekend is fast approaching. If you are anything like me, you are probably looking forward to delving into several new and...
“Uncertainty” Meme Refuses to Die . . .
Election ‘Uncertainty’ Isn’t Messing With Markets The outcome of the presidential race is merely unknown. That’s...
Time for a 50-Year U.S. Treasury Bond
A 50-Year U.S. Bond Makes More Sense Than Ever Issue debt that takes advantage of near-record low rates while financing the...
Cherry Picking Your Favorite GDP Forecast
Last month, we discussed the fun geeks were having with the Federal Reserve Bank of Atlanta’s GDPNow. It’s a fun little tool designed...
SPQR: Italy & Greece
The economic problems in southern Europe are deep and painful, but they are not unsolvable. Some of them are already beginning to mend. A...
What the Presidential Candidates Mean for Bonds
Earlier this week, we discussed what the next president might mean for your portfolio. Today, I want to look at what the two candidates...
Nobody Knows Nuthin’
Let’s Say It All Together: Nobody Knows Anything The primary elections are another case study in the futility of making...