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LewisBraham
Hi Hank,
Your satire came across very well. Don't worry about the user name.
Best,
Lewis
@davidrmoran I think it will be Biden or Bernie with one of the three as vp. Or it will be Warren with someone else as vp. I don’t think it will be Biden-Bernie as a ticket.
My one problem with FPACX is FPA let the fund get too big. Romick used to buy small caps, but no longer. He's argued better values are in large I believe, but I don't think he could trade small-caps well now even if he wanted to. This is quite a dif…
Everybody including Ritholtz as he sounds confused himself when he really shouldn't be by now should Google the term "attention economy" and you'll begin to understand.
@MSF You're right that the ideal benefactor in Jewish tradition, although I'm not sure it's Maimonides who mentions this--is it?--gives anonymously so they get no ego-boost. Today's rich Americans are not like this for sure. (Oh wait, I see from you…
@MSF My feelings about charities and charitable giving are rather ambivalent, but I don't believe giving money to the American Museum of Natural History or the Metropolitan Musem of Art are bad things even if the rich intend to hobnob there at galas…
@Ted Yes, the Kochs have donated to some charitable causes, but so did the Sackler family, which bears a significant responsibility for the opiod crisis. I don't think the charities cancel out the bad behavior in this case--not by a long a shot. Wha…
A recession or worse is a certainty at some point, but that is no guarantee that bonds bought during it will be great investments just because they were great investments during the last recession. A lot depends on the nature of bankruptices and rec…
How arrogant, naive and conceited does one have to be to believe you can predict not only the next high yield bear market and economic reccession but the recovery that you are so supremely confident will occur after them? Mauldin has been making ter…
Any editor who uses "Beat the Market No Matter What" for a writer's headline should probably be skewered and roasted slowly over a pit. This is the equivalent of clickbait or financial porn. Although I acknowledge that the pressure for SEO, search…
Read the disclaimers to the report, one of them involves short-selling, so yes a vested interest in seeing the stock decline. Yet bear in mind that anyone invested in a company--long or short--has a "vested interest." It comes down to who has the be…
@BenWp What do you think would happen to the U.S. economy and the stock market if Americans stopped overconsuming? I think there is a 1 to 1 correlation between each inch on the average waistline and each 100 point gain or loss in the S&P 500.
Bear in mind that a number of important government programs such as Social Security or government debt are indexed to inflation, so there is an incentive to understate what inflation really is.
Household net worth in the U.S. is $108.6 trillion: https://fred.stlouisfed.org/series/TNWBSHNO
Are we really as poor and unable to pay for this as you think?
@Edmond I think both things are possible--a tech tax and a Freedom Dividend. In fact, as I alluded to earlier, I think they go hand in hand. Use the tech tax to pay for the Freedom Dividend to help with the adjustment from putting people out of work…
Many of the people who believe in Basic Guaranteed Income like the Freedom Dividend are from silicon valley’s tech sector. They believe because they realize what’s happening. By one estimate 50% of American jobs will soon be replaceable with technol…
Americans are no more likely to collect the “Freedom Dividend” than they are to win the next Mega Millions lottery jackpot,
I wonder if journalists said the same thing about Social Security before it existed. All the Freedom Dividend is is Social S…
I have to say it's absurd but totally expected that this is happening again. The incentives for ratings agencies are stupid and full of conflicts of interest. Almost every bubble historically has involved increasing amounts of some form of newfangle…
Sortino tracked whether funds with good recent performance would repeat that success in the coming year. The funds with the best DTR-a ratio repeated their outperformance in more than 40% of the cases. That was true for the Sharpe ratio only 23% of …
Children have an economic value in rural agricultural communities, but not in cities.
Does Yardeni even realize how he sounds to ordinary human beings?
I don't think any individual stock should be buy and hold forever. History is full of once powerful companies that are now defunct or a fraction of the size they once were.
Rent is excruciating in New York, but salads don't cost $20 unless you're a tourist and food is actually cheaper than most other parts of the country if you know what you're doing. The reason is basic economics--extreme competition. There is a resta…
@davfor Thanks for the link.
@AndyJ You're right: https://npr.org/sections/goatsandsoda/2018/06/20/621782275/the-refugees-that-the-world-barely-pays-attention-to
It really is crazy to spend so much for a phone, although I also think it's crazy what people I know have to pay for medicine that cost five cents a pill to manufacture or doctor's visits that last five minutes.
I guess since MFO members say getting a history or anthropology degree is a waste of money, at least if you get a finance degree you can get paid for writing bull like this.
It really is incredible to me how most of the financial services community believes that how money is allocated in an economy via financial markets is apolitical or should be apolitical in their warped version of an ideal world. In sum, they believe…
