I get questions from time to time emailed to me and while most are inane (no, I'm not going to help any Nigerian heiresses get money out of the country), I got a good one last night and thought I'd share my response in case others have the same question.
I have a question for you. As you know, many people are worried about the value of the dollar falling. The response to that is, “Relative to what?” The euro and the yen have similar issues, and the yuan is pegged to the dollar. What’s your response to investors who are worried about the dollar falling? [more]
A fabulous collection of notes from a recent Seth Klarman speech on our Liquid Lounge board. Among other interesting points, Klarman reveals this about his group: [more]
I hope folks read and enjoy today's Global View column. If you're interested in wading through some of the source materials, you can find the links below: [more]
The math is pretty simple. Let the banks keep lending, but shut off the ability to speculate in real estate. That money has got to go somewhere. [more]
I've got to say, while I enjoyed this jeremiad from Rich Smith about the ability of elected politicians to trade on insider information regarding policy moves, my partner in crime over at Global Gains Nate Parmelee rightfully pointed out that even with that inside information, the pols Rich is railing at here made some pretty crappy trades. Here;s one of Rich's examples: [more]
China's Vice Minister of Commerce, Fu Ziying, had some interesting thoughts about China's role in Africa according to The WSJ. This is probably my favorite part: [more]
As governments around the world continue to try to actively make the economy better, I was reminded today of just how inane the government can be. For your reading please, the case of Michigan v. The Beavers -- when the state threatened beavers with a $10,000/day fine for building a dam without a permit. Good times.
Let's just assume recent market volatilty is driving you to drink and that you've recently overimbibed. What's your remedy of choice? Let me know in the comments!
In an incredible weekend development, the EU has established a near $1 trillion bailout plan for the entire European continent in the hopes of preventing a string of sovereign defaults. Stocks are rocketing up on the news, making it a nice day for those of us who believed all along that Europe would ultimately step up to defend the euro and therefore that stocks in countries such as Portugal and Greece were largely oversold. [more]
In case this week's Global View column got your attention, here are links to some of the primary sources used for your further reading: [more]
So I was on WTOP radio this morning, which is the #1 ranked news station in DC. In other words, it's a pretty big media hit. [more]
I enjoyed this article in The New York Times Magazine about how babies are born with some innate sense of morality. The intro got me hooked: [more]
I generally try to focus on foreign stocks on this blog, but I realize I haven't posted my Taser rant here. Given the news today that security tased a Phillies fan as he ran on the field last night, now seems like a good time to do so. [more]