Monthly Archives: August 2007

Cruising Across Our Speculative Markets

Quants have it tough.  Few in the investment world really understand what you do, and even fewer outside that world.  To many investment managers, quants are the guys nipping at their heels, clipping their returns, and questioning the need for fundamental analysis.  There comes a kind of schadenfreude when their models blow up, where qualitative […]

Surveying Bond Management and Overall Financial Market Volatility

A personal note before I begin: My oldest daughter left for college today.  A bright girl who plays the harp beautifully, she is studying harp at the University of Maryland.  She is a true “people person” and an artist, and her good character is known by all of her friends.  She’ll be commuting, so I […]

Special Favors from the Federal Reserve

I like writing about the Federal Reserve because I understand it well, but this is beginning to make me tired. Here goes: There are some who believe that the Fed will not cut rates soon. I half agree with them, because the Fed should not cut rates here. Let bad loans get their due punishment. […]

Private Equity — Operators or Glorified Condo-flippers?

In commercial real estate, operators that are willing to “feed their properties” during bad times get respect, and sometimes even lower financing costs from those who lend to them.  In a similar vein, and perhaps it is making a virtue out of necessity, it was interesting to see KKR offer to pump money into their […]

A “Sour Sixteen” Thoughts on the Real Estate Markets

Before I begin this evening, let me just mention that I have expanded my blogroll. These are the blogs that are on my RSS reader at present. As I add more, I will add them to my blogroll. One more thing before I start: the comeback on Friday was nice, but I don’t think this […]

Fed Up with Impotent Monetary Policy

So the Fed opens up the discount window, and drops the rate 0.5%, banks go gonzo, right?  Well, no, I wouldn’t call it a “brisk business.”  A lot of the “business” was in and out in short order, for average borrowings of $1.2 billion.  For the discount window of its own to make a real […]