Money and Finance
- Links
William Cohan catches up with Jamie Dimon [H/T Will] (LINK) Dan Harris on Charlie Rose discussing his book, 10% Happier (video) (LINK) Philosophical Economics - Introducing the Total Return EPS Index: A New Tool for Analyzing Fundamental...
- Links
Q&A with Guy Spier about his book, The Education of a Value Investor (LINK) Buffett’s Private Analysis of Geico in 1976: ‘Extraordinary’ But ‘Mismanaged’ [H/T Lincoln] (LINK) Aswath Damodaran on corporate break-ups, using EBay and PayPal...
- John Hussman – Why Prospective Returns Are Low - By Robert Huebscher
Monetary and fiscal policies have driven our economy into an unstable equilibrium, pushing investors into higher-yielding securities, according to John Hussman. But those higher yields are illusory, he said, because corporate profit margins are...
- Hussman Weekly Market Comment: Secular Bear Markets - Volatility Without Return
Present market and economic conditions highlight a fairly dramatic disparity between continued economic and valuation headwinds (particularly on a “cyclical” horizon of 18-24 months) and complacent short-term conditions that rest on the continuation...
- Hussman Weekly Market Comment: Run, Don't Walk
Wall Street continues to focus on the idea that stocks are "cheap" on the basis of forward price/earnings multiples. I can't emphasize enough how badly standard P/E metrics are being distorted by record (but reliably cyclical) profit margins, which...
Money and Finance
Hussman Weekly Market Comment: The Price of Distortion
The central issue in the current financial markets, in my estimation, is distortion. Because monetary distortion dominates the financial markets here (helped by fiscal distortions that have temporarily elevated profit margins about 70% above their historical norms), the only certainty is that short-term market fluctuations will be dominated by the vagaries of the near-criminal mind that dictates how far those distortions will be pushed. Investors cannot control that decision. Still, I don’t have a single doubt that over the full course of the present market cycle, investors will be better served by adhering to informed discipline than by tying their destiny to predictions about what the Fed will or will not do next.
- Links
William Cohan catches up with Jamie Dimon [H/T Will] (LINK) Dan Harris on Charlie Rose discussing his book, 10% Happier (video) (LINK) Philosophical Economics - Introducing the Total Return EPS Index: A New Tool for Analyzing Fundamental...
- Links
Q&A with Guy Spier about his book, The Education of a Value Investor (LINK) Buffett’s Private Analysis of Geico in 1976: ‘Extraordinary’ But ‘Mismanaged’ [H/T Lincoln] (LINK) Aswath Damodaran on corporate break-ups, using EBay and PayPal...
- John Hussman – Why Prospective Returns Are Low - By Robert Huebscher
Monetary and fiscal policies have driven our economy into an unstable equilibrium, pushing investors into higher-yielding securities, according to John Hussman. But those higher yields are illusory, he said, because corporate profit margins are...
- Hussman Weekly Market Comment: Secular Bear Markets - Volatility Without Return
Present market and economic conditions highlight a fairly dramatic disparity between continued economic and valuation headwinds (particularly on a “cyclical” horizon of 18-24 months) and complacent short-term conditions that rest on the continuation...
- Hussman Weekly Market Comment: Run, Don't Walk
Wall Street continues to focus on the idea that stocks are "cheap" on the basis of forward price/earnings multiples. I can't emphasize enough how badly standard P/E metrics are being distorted by record (but reliably cyclical) profit margins, which...