Monthly Archives: August 2009

Avoid Risk; Make Money.

Sometimes a single article can change my direction for publishing for an evening.  So it was for this article, Hedge Fund Keeps Reins on Risk.  I had not heard of Graham Capital Management until today, but given what I read, I like what they do — they focus on risk. I am currently reading Eric […]

Questions and Answers

This may become a series, but I’m going to post some questions I have been asked, and the answers that I gave.  Anyway, here goes: Has anyone prepared a summary of US Treasury bonds, say five years ago and now and looked at average maturity, etc. GE was taken to task by the investment community […]

Three Notes on the Federal Reserve and Financial Services Reform

As I have said before, it doesn’t matter who the next Fed Chairman is, because all of the candidates are basically the same when it comes to monetary policy.  There are no hard money candidates.  So, with the announcement that the reappointment of Ben Bernanke is likely, we can all breathe a sigh of relief […]

Book Review: Making Sense of the Dollar

Many people think in non-systematic terms.  They consider the US current account deficit to be an unmitigated disaster.  They look at one side of the issue and conclude that the US has become less competitive. Understanding accounting, the books must balance.  Not everyone can run a current account surplus.  Some countries must run deficits in […]

Fusion Solution: The Stable Value Fund Guide to Commodity ETF Management

This piece is one of my experiments where I try to straddle two different investment worlds in an effort to bring more understanding.  The two world are stable value funds and commodity ETFs. Commodity ETFs have a hard job, in that they are supposed to replicate the returns on spot commodities.  Given the difficulty of […]

Return of the “Carry Trade”

The idea of a carry trade is simple.  Borrow inexpensively, and invest at a higher yield.  Make money. Too easy you say?  Right.  Usually something has to be compromised for a carry trade to work, usually betting on lower rated credits performing, or currencies not moving against those borrowing in a low interest rate currency, […]

Nine Notes on Residential Real Estate

I don’t really have one unified article type when I write here.  Sometimes I have a really strong conviction about something, and then it flows.  At other times, I gather data, do an analysis, and come up with a way of motivating it.  Then there are the Seven, Eight, Ten, Twelve, Fifteen, Twenty Points/Notes/Comments articles.  […]

Ten Unsolved Problems in the Global Economy

There are many celebrating the recovery as if it were already here.  This is a brief post to outline my main remaining concerns for recovery of the global economy. 1)  China is overstimulating its economy, and forcing its banks to make bad loans.  This pushes up commodity prices, and makes it look like China is […]