Money and Finance
Government securities were traditionally the safest, and in certain cases beyond reproach in investment quality. The behavior of those issuers themselves, however, stands upon its head the central position of government debt in financial markets.The deterioration in the true credit quality of government obligations is one contributor to the secular increase in risk in financial markets, without commensurate compensation in return.
- John Mauldin’s Outside The Box: Australia: Running Out Of Luck Down Under
While it is summer in the Northern Hemisphere, it is winter "down under." Today we turn our attention to Australia. In Endgame, Jonathan Tepper and I devoted a full chapter to talking about the problems we saw looming in Australia, and for that we have...
- Bill Gross – January 2012 Investment Outlook: Towards The Paranormal
The New Normal, previously believed to be bell-shaped and thin-tailed in its depiction of growth probability and financial market outcomes, appears to be morphing into a world of fat-tailed, almost bimodal outcomes. A new duality – credit and zero-bound...
- February 2007 Paper: How Resilient Are Mortgage Backed Securities To Collateralized Debt Obligation Market Disruptions?
Executive SummaryThe mortgage-backed securities (MBS) market has experienced significant changes over the past couple of years. Non-agency (“private label”) securities, which are not guaranteed by the government or the government sponsored enterprises,...
- Prem Watsa's 2008 Shareholder Letter - Fairfax Financial
Last year, I quoted Hyman Minsky who said that history shows that “stability causes instability”. He said that prolonged periods of prosperity lead to leveraged financial structures that cause instability – and did we see that in spades in 2008!!With...
- Weekly Roundup - October 12, 2013
Well this past week was pretty uneventful for me. Just grinding it out at work, as per usual. The bright spot is that every day that I'm at work I essentially am saving 70-80% of that days pay. That's the beauty of keeping your expenses...
Money and Finance
GR-NEAM Reflections: 05/01/2012 - Sublime to Ridiculous
Government securities were traditionally the safest, and in certain cases beyond reproach in investment quality. The behavior of those issuers themselves, however, stands upon its head the central position of government debt in financial markets.The deterioration in the true credit quality of government obligations is one contributor to the secular increase in risk in financial markets, without commensurate compensation in return.
- John Mauldin’s Outside The Box: Australia: Running Out Of Luck Down Under
While it is summer in the Northern Hemisphere, it is winter "down under." Today we turn our attention to Australia. In Endgame, Jonathan Tepper and I devoted a full chapter to talking about the problems we saw looming in Australia, and for that we have...
- Bill Gross – January 2012 Investment Outlook: Towards The Paranormal
The New Normal, previously believed to be bell-shaped and thin-tailed in its depiction of growth probability and financial market outcomes, appears to be morphing into a world of fat-tailed, almost bimodal outcomes. A new duality – credit and zero-bound...
- February 2007 Paper: How Resilient Are Mortgage Backed Securities To Collateralized Debt Obligation Market Disruptions?
Executive SummaryThe mortgage-backed securities (MBS) market has experienced significant changes over the past couple of years. Non-agency (“private label”) securities, which are not guaranteed by the government or the government sponsored enterprises,...
- Prem Watsa's 2008 Shareholder Letter - Fairfax Financial
Last year, I quoted Hyman Minsky who said that history shows that “stability causes instability”. He said that prolonged periods of prosperity lead to leveraged financial structures that cause instability – and did we see that in spades in 2008!!With...
- Weekly Roundup - October 12, 2013
Well this past week was pretty uneventful for me. Just grinding it out at work, as per usual. The bright spot is that every day that I'm at work I essentially am saving 70-80% of that days pay. That's the beauty of keeping your expenses...