Money and Finance
- Hussman Weekly Market Comment: Not In Kansas Anymore
Even in the event that quantitative easing is sufficient to override hostile market conditions in the near-term, it is worth noting that long-term outcomes are likely to be unaffected. We presently estimate a prospective 10-year total return on the S&P...
- 2010 Repost: Wsj Op-ed: Open Letter To Ben Bernanke
As talk of QE3 remains in the headlines, I thought it might be a good time to review this Op-Ed, which was signed by Seth Klarman, Jim Grant, Jim Chanos and Niall Ferguson, among others, in November of 2010. The following is the text of an open letter...
- Goodhaven Semi-annual Report
The Fund’s capital is being deployed judiciously and we still have a chunk of cash – we are optimistic, but cautious. Although our cash position will decrease as we find new and appropriate investments, the world is still a troubled place and we are...
- Wsj Op-ed: Open Letter To Ben Bernanke
Signed by Seth Klarman, Jim Grant, Jim Chanos and Niall Ferguson, among others: The following is the text of an open letter to Federal Reserve Chairman Ben Bernanke signed by several economists, along with investors and political strategists, most of...
- Hussman Weekly Market Comment: Why Quantitative Easing Is Likely To Trigger A Collapse Of The U.s. Dollar
A week ago, the Federal Reserve initiated a new program of "quantitative easing" (QE), with the Fed purchasing U.S. Treasury securities and paying for those securities by creating billions of dollars in new monetary base. Treasury bond prices surged on...
Money and Finance
Chou Funds: 2010 Annual Report
Found via The Corner of Berkshire & Fairfax.
We went through a traumatic financial crisis in 2008 and 2009 and you can argue that under exceptional circumstances, the Government can, maybe should, intervene in the economy, as the U.S. Federal Reserve (Fed) did with massive quantitative easing starting in 2008. As we all know, governments everywhere have intervened in securities markets for decades by artificially lowering interest rates during declines and artificially supporting prices. That said, I’m always uneasy when this happens, primarily because such interventions skew the markets and make it difficult for investors to determine the soundness of a business and its prospects for future success.
- Hussman Weekly Market Comment: Not In Kansas Anymore
Even in the event that quantitative easing is sufficient to override hostile market conditions in the near-term, it is worth noting that long-term outcomes are likely to be unaffected. We presently estimate a prospective 10-year total return on the S&P...
- 2010 Repost: Wsj Op-ed: Open Letter To Ben Bernanke
As talk of QE3 remains in the headlines, I thought it might be a good time to review this Op-Ed, which was signed by Seth Klarman, Jim Grant, Jim Chanos and Niall Ferguson, among others, in November of 2010. The following is the text of an open letter...
- Goodhaven Semi-annual Report
The Fund’s capital is being deployed judiciously and we still have a chunk of cash – we are optimistic, but cautious. Although our cash position will decrease as we find new and appropriate investments, the world is still a troubled place and we are...
- Wsj Op-ed: Open Letter To Ben Bernanke
Signed by Seth Klarman, Jim Grant, Jim Chanos and Niall Ferguson, among others: The following is the text of an open letter to Federal Reserve Chairman Ben Bernanke signed by several economists, along with investors and political strategists, most of...
- Hussman Weekly Market Comment: Why Quantitative Easing Is Likely To Trigger A Collapse Of The U.s. Dollar
A week ago, the Federal Reserve initiated a new program of "quantitative easing" (QE), with the Fed purchasing U.S. Treasury securities and paying for those securities by creating billions of dollars in new monetary base. Treasury bond prices surged on...