This was too good to pass up. The key section of an offering at The Reformed Broker (hat tip reader Gonzalo): The Five Stages of Panic Buying! 1. Denial (Late March/ Early April) “Ha, another Bear Market rally…wait til the foreclosure/ new home sales/ confidence data comes in! Right back to 6500, maybe lower…bagholders” “Dude, […]
Read more...I have set you up to misinterpret that headline, but that’s OK. I know that sophisticated modern finance people are not supposed to believe in technical trading. It’s sort of like believing in astrology. Yet pretty much every serious investor I know pays attention to it, even if it is not a major factor in […]
Read more...Reader Peter A pointed out this New York Post article on Tyler Durden today. The Post has broken some hedge fund stories, like losses at particular well known hedge funds during rough trading periods, so it does have good connections in Hedgistan. I would rather not get into this fray, but Tyler Durden has guest […]
Read more...From a newly minted PhD, via e-mail: I ran into another Harvard student who recently had a chat with a senior economics faculty member who is telling students the following anecdote. Apparently the professor is involved in some way with the American Economics Review. The AER has a backlog of two to three years between […]
Read more...Submitted by Edward Harrison of Credit Writedowns. The video linked below is a must-see piece of journalistic skepticism. The duo at Bloomberg News are discussing the recent alleged theft of trading code by a former Goldman employee Sergey Aleynikov who moved to a hedge fund called Citadel Teza, a hedge fund now being sued by […]
Read more...Submitted by Edward Harrison of Credit Writedowns. Just when you thought things couldn’t get any more questionable in Washington, then along comes this (hat tip Tom). Washington Post publisher Katharine Weymouth said today she was canceling plans for an exclusive "salon" at her home where for as much as $250,000, the Post offered lobbyists and […]
Read more...Enjoy, and thank reader Michael M:
Read more...In a bit of synchornicity, we had two posts on credit cards yesterday. Lo and behold, Versus released a new song parody on the joys of plastic:
Read more...You cannot make this stuff up. Even as of last summer, there were reports that gold at retail was priced at a hefty premium, often 20% or more, to professional prices. Greater convenience comes with a greater markup. The German gold vending machine reportedly update prices every few minutes and add a 30% upcharge. The […]
Read more...Submitted by Edward Harrison of the site Credit Writedowns. The chain of events whereby easy money leads to malinvestment that impoverishes a society is now fully manifest in the United States. You remember Victorville, CA where new homes were being demolished because it cost more to maintain them than to demolish them? (see post here) […]
Read more...Submitted by Edward Harrison of the site Credit Writedowns. You have to hand it to Marc Faber; he knows how to grab your attention. Earlier this year, I posted a video of him saying “don’t underestimate the power of printing money“, a quote that has become mantra for me. Basically, he believes a rising tide […]
Read more...This is too funny to leave to Links. Thanks to reader Doug: You actually need to click here to play the clip. Enjoy!
Read more...Enjoy!
Read more...Submitted by Edward Harrison of the site Credit Writedowns Now that everyone is talking about green shoots and the potential for economic recovery, I thought I would run through the statistics of U.S. GDP with you. The reason I am bringing this up is that there is a lot of confusion about what recovery means […]
Read more...Some comic relief. Enjoy! Hat tip reader John C:
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