Monthly Archives: September 2009

Plan for Failure

Imagine for a moment that you are managing a large corporate bond portfolio for a major institution.  One of the first things you should internalize is that you will be wrong.  You will buy bonds of companies that will get into unexpected trouble, and their prices will decline.  Or, you play it safe as a […]

Recent Portfolio Actions

Sorry, it’s been a while since I listed my equity portfolio moves.  I made the following trades yesterday: New Buys: Chubb Computer Sciences Corp Dominion Resources Northrup Grumman National Presto (beware, less liquid) SCANA Corp Safeway Corp Total SA New Sells: iShares Brazil Fund General Dynamics Honda Motors Mosaic Inc Nucor Vishay Intertechnology And over […]

Name Your Poison

Last night I wrote a longish post, and the system ate it.  Probably I had not established a firm connection with the server, and when I hit the publish button, it disappeared.  My main point was to ask where the limits were for all of the borrowing and spending  going on from the Treasury, and […]

Redacted Version of the September FOMC Statement

August 2009 September 2009 Comments Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. The FOMC thinks that the economy is growing. Conditions in […]

Ten Notes on Current Market Risks

1)  You hear me talk about this more than most, but liquidity risk needs more emphasis.  This is true whether you are a retail or institutional investor.  As the old saying goes, “Only invest what you can afford to lose.”  The basic operations of life require liquidity. That even applies to the abstract mathematicians who […]

When the Sirens Sing, How to Avoid Giving in…

When I wrote What Stories Aren’t Being Told?, I did not expect a big response.  But I got 53 responses, more than double the responses of my next-most-responded-to article.  Many bloggers linked to it, and responses continued on for almost four days. But after Dr. Jeff’s comment, I decided to write a second piece, What […]