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Bond Market Liquidity
June 26, 2015
Real Time Economics (WSJ Blog) – Fed’s Tarullo: Something’s Changed in The Bond Market; Unclear Why Federal Reserve governor Daniel Tarullo said Thursday changing bond-market liquidity conditions remain unaccounted for, with uncertain implications for overall financial stability. Mr. Tarullo was addressing rising anxiety that changes in financial firms’ regulation, among other factors, is causing some… Continue reading Bond Market Liquidity
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Should The Fed Drop The Dots?
June 26, 2015
<Click on chart for larger image> Reuters – IMF to Fed: Drop the dots Now that International Monetary Fund head Christine Lagarde has told the Fed to wait to raise interest rates, the IMF staff has followed up with suggestions that the U.S. central bank remake its communications policy and, in a phrase, ditch the… Continue reading Should The Fed Drop The Dots?
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US Stock Market Worry
June 26, 2015
MoneyBeat – Markets Headed to ‘Bubbleland,’ Warns Jeremy Grantham Legendary investor Jeremy Grantham is warning that the world is headed to “bubbleland.” While markets across the globe aren’t in a bubble yet, they’re getting closer, said Mr. Grantham, the co-founder and chief investment strategist of Grantham Mayo van Otterloo. At the moment, he told attendees… Continue reading US Stock Market Worry
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China’s Stocks Dive Again
June 26, 2015
<Click on chart for larger image> Bloomberg.com – Chinese Stock Plunge Leaves State Media Speechless Rising up from the center of Beijing, not far from the Temple of Heaven, is the loudest voice in the wild east of the Chinese stock market. It’s neither a bank nor a brokerage — it’s the headquarters of Xinhua… Continue reading China’s Stocks Dive Again
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Monkeys vs. Hedge Fund Managers
June 26, 2015
These guys beat the average hedge-fund manager. MarketWatch – Brett Arrends: How hedge-fund geniuses got beaten by monkeys — again The dumbest simple index will beat the smartest guys on the Street he average hedge fund has produced a worse investment performance in the first half of this year than a portfolio consisting of a… Continue reading Monkeys vs. Hedge Fund Managers
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Pension Funds
June 26, 2015
<Click on graphic for larger image> The Economist – Buttonwood: Wishful thinking Betting on equities has not eliminated America’s pension deficit WALL STREET has been in buoyant mood in recent years. The S&P 500 equity index has reached repeated record highs. One might think that would be great news for America’s public-sector pension plans, which… Continue reading Pension Funds
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No More “Sells”
June 26, 2015
The Financial Times – ‘Sell’ recommendations on endangered list Concern analysts fear upsetting colleagues in other parts of bank “[Analysts] are some of the most educated people on the planet but quite often they like to use a ruler and pencil,” says Russell Napier, a former strategist at CLSA running Eric, an online platform for… Continue reading No More “Sells”
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Investing Rules To Live By
June 26, 2015
The Wall Street Journal – Morgan Housel: Four Things the Stock Market Has Taught Me Investing is a great way to learn about human behavior—and about yourself The stock market is, in other words, a petri dish for studying human behavior—and is a great place to learn about yourself. Here are four things it has… Continue reading Investing Rules To Live By
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Cartoons
June 26, 2015
Newsclips
Equity Mutual Funds vs Equity ETFs
June 25, 2015
<Click on chart for larger image> USA Today Money – Fund investors flee U.S. stock funds In a sign of stock market nervousness on Main Street, mutual fund investors have yanked more money out of U.S. stock funds than they put in for 16 straight weeks. The last time domestic stock funds had positive net… Continue reading Equity Mutual Funds vs Equity ETFs
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An Updated Look At The Myth Of Cash On The Sidelines
June 25, 2015
The Wall Street Journal – Record Cash Hoard Concentrated Among Few Companies Corporate cash holdings grew to a record in 2014, but more of that money is being concentrated among a few giants, according to a new report by Standard & Poor’s Ratings Services. Cash among the top 25 grew 11% last year, S&P said,… Continue reading An Updated Look At The Myth Of Cash On The Sidelines