The melodrama continues in Washington as we face the specter of another government shutdown. The new fiscal year for the Federal Government starts on October 1st. This is the 22nd government shutdown in the last fifty years.
In theory, under a government shutdown, non-essential federal functions...
Market concentration has rarely been higher. What is market concentration? The S&P 500 Index is a market-capitalization weighted index which means that each stocks weight in the index corresponds to its size (shares outstanding x share price).
The chart below shows that the largest 7...
“The daily blips of the market are, in fact, noise -- noise that is very difficult for most investors to tune out.”
– Seth Klarman
Summary
Interest rates are moving higher thanks to a combination of massive fiscal deficits, foreign owners of our debt...
Time to worry. Just kidding.
On August 2nd, Fitch Ratings, one of the nationally recognized statistical ratings organizations, or NRSRO, downgraded the U.S. credit rating one notch to the second highest rating. Fitch is one of the ten approved by the SEC to provide an assessment of the...
During the time I was writing this, I was interviewed for a podcast in which I discussed this very topic. To listen, click here.
For most of the last two decades, bond mutual funds were an easy and convenient way to purchase bonds. However, as rates fall, you are getting diluted by new...
‘‘Within our mandate, the ECB is ready to do whatever it takes to preserve the EUR. And believe me,it will be enough.”
Mario Draghi, July 2012
''We will keep at it until inflation is down to 2%. And our monetary policy tightening will be enough.It will be enoughto...
