Muni Bonds http://t.co/y8fuhimH There are long term difficulties, but taxes will be raised and benefits cut. Muni bonds will do fine. $$ Jan 03, 2012
Auld Lang Syne: Remembering 2011 http://t.co/ctFUISOD Damodaran points out how high the equity premium is now. Makes me more bullish $$ Jan 03, 2012
@The_Analyst If you leave it all in the cash account, yes, if not, no. Which makes sames day liquidity a problem; three day lags… Jan 03, 2012
Political Calendar Hints at 2012 Volatility http://t.co/8kH5seL5 2012 likely to be a volatile year, much as 2011 was $$ Jan 03, 2012
Are Brokerage Accounts Safe? http://t.co/QBXChAvg We should press to eliminate the ability to rehypothecate using customer capital $$ Jan 03, 2012
@YooDman I agree w/you, but if the generals could get along w/o KJ Un, they would have done so already. This would try to pull KJU away… Jan 03, 2012
If I were Secretary of State, I would find out what Rock groups & basketball players Mr Un Kim likes & send several goodwill delegations. $$ Jan 03, 2012
Banker Who Fled Kim Jong Il Says New Leader to Open N. Korea http://t.co/cX4jHROu “Swiss education & his reported fondness 4 basketball” Jan 03, 2012
Paul Sees Top-Two Finish in Iowa While Wary of Backing Rivals http://t.co/4elw3fqP Has the least trouble with Romney, but can’t endorse $$ Jan 03, 2012
@DonMartinCFP What change in conditions would lead you to allocate money away from bonds? Jan 03, 2012
About David Merkel
David J. Merkel, CFA, FSA, is a leading commentator at the excellent investment website RealMoney.com. Back in 2003, after several years of correspondence, James Cramer invited David to write for the site, and write he does — on equity and bond portfolio management, macroeconomics, derivatives, quantitative strategies, insurance issues, corporate governance, and more. His specialty is looking at the interlinkages in the markets in order to understand individual markets better.
David is also presently a senior investment analyst at Hovde Capital, responsible for analysis and valuation of investment opportunities for the FIP funds, particularly of companies in the insurance industry. He also manages the internal profit sharing and charitable endowment monies of the firm.
Prior to joining Hovde in 2003, Merkel managed corporate bonds for Dwight Asset Management. In 1998, he joined the Mount Washington Investment Group as the Mortgage Bond and Asset Liability manager after working with Provident Mutual, AIG and Pacific Standard Life.
His background as a life actuary has given David a different perspective on investing. How do you earn money without taking undue risk? How do you convey ideas about investing while showing a proper level of uncertainty on the likelihood of success? How do the various markets fit together, telling us us a broader story than any single piece? These are the themes that David will deal with in this blog.
Merkel holds bachelor’s and master’s degrees from Johns Hopkins University. In his spare time, he takes care of his eight children with his wonderful wife Ruth. View all posts by David Merkel →