Well, Operation Twist, also known as Quantitative Easing Three, was a great success. $85 billion a month was "injected" into the capital markets - mainly mortgage markets - and a great deal of worthless paper was bought up over market price, depressing yields, at taxpayer expense.
And it worked. You can't argue that. The risk-free rate, estimated by the 3-month T-bill yield, is now one twenty-fifth of one percentum. That is zero point zero four percent. 0.04%. If you invest $2500, you get a buck at the end of the year for your pains. [more]
I have had a 16% gain on Seadrill since I bought it 6 weeks ago. I was betting they would make the dividend, and they did - and I made a huge bet; I was tiring of standing idle at the sideline so I put half my cash into it, and I'm almost all in cash. [more]
Exactly 1 month ago, I posted about Seadrill, in context with the fact that I am not at all bullish on the prospects of the US stock market as a whole. Seadrill is a company that builds and leases deepwater drillship rigs. The lessors are large integrated oil companies who operate these rigs to extract crude oil that can't otherwise be gotten at because it is deep below the ocean floor. [more]
I read the TMF Post of the Day today - here it is, thanks to Arlene123 - and it got me thinking about a topic I've been meaning to post about for some time. [more]
As you recall, my prediction in this space was that the S+P would see 1920; and that then, it would close under 1500 before it closed above 2000.
S+P close today was 1924. I'm sticking by this one. Mr Market can remain irrational longer than you can remain solvent.