Monthly Archives: January 2008

Seven Brief FOMC Notes

1) From an old post at RealMoney: David Merkel Nominate Fisher for the ‘FOMC Loose Cannon’ Award 6/1/05 4:05 PM ET It was pretty tough to dislodge William Poole, but if anyone could win the coveted “FOMC Loose Cannon” award in a single day, it would be Richard Fisher, after suggesting that the FOMC was “clearly […]

Time to Begin Increasing Credit Risk Exposure

Ugh, today was a busy day.  My views of the FOMC were validated as to what they would do and say, though I was wrong on the stock market direction on a 50 bp cut.  The bond market direction I got right. Look at this post from Bespoke.  Ignore the percentage increase, and just look […]

With 401(k)s and Other Defined Contribution Plans, Watch Your Wallet

When financial matters are opaque, there must be a large discount to prices representing clarity to interest people to buy.  Unfortunately, with 401(k)s and other defined contribution plans, it is sometimes akin to being limited to the “company store.”  I’ve written about these issues before, both here and at RealMoney.  Here’s a good example of […]

Personal Finance, Part 11 — Your Personal Required Investment Earnings Rate

Everybody has a series of longer-term goals that they want to achieve financially, whether it is putting the kids through college, buying a home, retirement, etc.  Those priorities compete with short run needs, which helps to determine how much gets spent versus saved. To the extent that one can estimate what one can reasonably save […]

My Best Relative Value Week in a Long Time

I’ve worked for years to take the emotions out of my investment processes, with some success.  Where it gets tough is when I am in an absolute and relative drawdown, as I was for most of the second half of 2007.  Nonetheless, I stuck with my disciplines.  This week, a lot of things went right: […]

Miscellaneous Musings on Our Manic Markets

1) I had another good day today, but my body is telling me otherwise.  As I wrote at RealMoney: David Merkel Two Positive Surprises; Two Things I Don’t Do 1/24/2008 3:11 PM EST Two more news bits. I don’t buy for takeovers, but today Bronco Drilling got bought out by Allis-Chalmers Energy. (Now I have […]

Living in the Shadow of the Great Depression

Don’t we wipe the slate clean after two generations or so?  Or, as my old boss used to say, and he is looking smarter by the day, “We don’t repeat the mistakes of our parents; we repeat the mistakes of our grandparents.”  Our monetary policy is being guided by fear of repeating the Great Depression.  […]