Things have come to a pretty pass. The romances are going flat…
Let’s start with munis. It’s pretty simple. Two Septembers ago, I wrote a post titled Gold on Hold; The New Play May Be in Munis. This was done in the context of recession worries, and was in the context of a well-documented and [...]
GMO has now made its famous 7-year asset return forecasts visible on its website; previously they would email them freely to registered recipients. They, primarily Jeremy Grantham, the co-founder, actually have quite a good record, though past performance may not correlate with future performance. LINK.
While there is no way for yours truly to have [...]
Once is happenstance. Twice is coincidence. Three times, it’s enemy action.
—Auric Goldfinger, quote from Goldfinger (1959)
Leaving aside Vallejo’s bankruptcy of a while ago, municipal bond investors have been hit with a rat a tat tat of three California municipal bankruptcies in short order. Stockton, Mammoth Lakes, then San Bernardino. [...]
Evidence of How Difficult It Is to Garner Excess Returns in the Stock Market
In January 1995, the Republicans took over Congress for the first time in, almost, forever. Quickly a form of gridlock took place that helped the stock market levitate. The R’s wouldn’t let President Clinton spend, and he wouldn’t let them cut [...]