Recent Tweets

  • They may not have meant to publish it, but the results don’t seem too earthshattering — … http://t.co/MkmCtxnJ Jan 25, 2012
  • @Convertbond He was 1 of my professors @ Hopkins, & the only 1 w/a consistently free market viewpoint; Talked w/him @ http://t.co/k4mL15rp Jan 25, 2012
  • India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned http://t.co/ZRmnIjOz @JamesGRickards sounds like Ch 1 $$ Jan 25, 2012
  • Bears gone wild! http://t.co/s0mvx9LK What does it mean when bears get less pessimistic? Do we rally, or do things fall apart? Or both? $$ Jan 25, 2012
  • Retail in the Age of the Internet http://t.co/4wovantW Difficult 2c how the internet doesn’t change retail; has changed so many things $$ Jan 25, 2012
  • What Makes FPA Crescent Tick? http://t.co/ngisagdY A lot to learn from businesslike clever managers who insist on a margin of safety $$ Jan 25, 2012
  • You don’t WANT to be making iPhones, really http://t.co/cvG1rVqJ Baruach of Ultimi Barbarorum sets the record straight on manufacturing $$ Jan 25, 2012
  • The end of mutual funds is coming http://t.co/V9FhizVt @reformedbroker on the coming dominance of ETFs in 2022. My take in a comment below. Jan 25, 2012
  • The Pimco Premium–Totally Gross? http://t.co/QXBqRSpH Amazing what premiums to NAV some junk CEFs run by Pimco get up to. $$ >+70% Jan 25, 2012
  • Mitt Romney’s SOTU Challenge on the Mortgage Crisis http://t.co/xeTaeswA “u recognize the distress, u take the loss & let people reset.” $$ Jan 25, 2012
  • @MebFaber @onetwoko @The_Analyst Good stuff. I’ve written similar from both equity and debt perspectives. Alternative: NGDP growth+1% $$ Jan 24, 2012
  • @valuewalk yeh, especially for the highly compensated in private DB plans, b/c the PBGC limits the coverage any one person gets. $$ #ouch Jan 24, 2012
  • Examples: Autos and Telecom Bonds back in 2000, MBS (Esp non-GSE), GSEs, CDOs and finance 2007. Today? Governments. The poison of AAA/AA $$ Jan 24, 2012
  • It is usually wise to avoid investing in the largest or fastest growing sectors and subsectors in debt markets; boom presages a bust $$ Jan 24, 2012
  • @valuewalk Yes, that’s right, and the standards for that are squishy. Funny that life co acctg has 2b conservative, but not DB pensions $$ Jan 24, 2012
  • @The_Analyst Been writing about this off and on for the last 20 years in various forms. Sadly, doesn’t get traction because it’s complex $$ Jan 24, 2012
  • @The_Analyst yeh, especially since ERISA doesn’t apply to state & local DB plans; beneficiaries have 2 rely on protection from local laws $$ Jan 24, 2012
  • @The_Analyst There are no actuarial assumptions police for DB plans. W/private corps, the auditors can object (though they rarely do) $$ Jan 24, 2012
  • The Real Problem With the Global Bond Markets http://t.co/rYHw673u Catch my comment here: http://t.co/UCkhtXZx $$ Jan 24, 2012
  • CalPERS 2011 return below its assumed rate by 6.65 percentage points http://t.co/GDoBD6H2 Gets worse when you count in the fall in int rates Jan 24, 2012
  • Rob Arnott is doing enhanced indexing. So do most bond indexers; they match broad characteristics of the index, and … Jan 24, 2012
  • RE: @valuewalk Someone send the memo to Soros: http://t.co/ShMY4LWN http://t.co/6oA7kfMR Jan 24, 2012
  • New from Aleph Blog Against Simple Valuation Metrics: There have been a lot of articles dealing with use of corp… http://t.co/PaZElTUQ Jan 24, 2012
  • The new American divide http://t.co/lOmLT2xs Working class falls further away from marriage & religion & upper class becomes more isolated Jan 23, 2012
  • We Found Bin Laden So Now We’re In Search of Yield http://t.co/4veqJ6xB Y Buffett likes consistent $$ to flow from subs, but he pays no div Jan 23, 2012
  • The biggest Mark to Model error in the country http://t.co/Tgi5DVx7 “Price indexes are more an art than a science.” Manipulable indeed. $$ Jan 23, 2012
  • How executives spend their company’s cash http://t.co/4xadWZqy Buybacks tend 2b procyclical; economically rational w/b countercyclical $$ Jan 23, 2012
  • Europe Stocks Cheapest to US Since ’04 as Net Rises Amid Recession Worry http://t.co/54ajiIQD Worth kicking the tires on nonfinancials $$ Jan 23, 2012
  • Generals have led the US three times already — Washington, Grant, and Eisenhower. That i… http://t.co/9w9C3AM2 Jan 23, 2012