Money and Finance
Ginni Rometty, chairman and CEO of IBM, on Charlie Rose (video) (LINK)
A breakdown of some of Michael Burry's posts on the Silicon Investor message boards from the late 90's (LINK)
The great bond conundrum (LINK)
Bacteria bonanza found in remote Amazon village (LINK)
The printed organs coming to a body near you (LINK)
- Links
Audible Clips... For those who listen to audiobooks on Audible, THIS is a nice new feature. Japan 10-Year Yield Drops to Record, Below Negative Deposit Rate (LINK) Investors at home and abroad can’t get enough 10-year Japanese government bonds, driving...
- Stewart Cowley, The Bond-fund Manager Who Can't Stand Bonds
Thanks to Matt for passing this along. Stewart Cowley manages $1.5 billion in the Old Mutual (ODMTY) Global Strategic Bond Fund. One place he generally avoids investing that money: bonds. Mr. Cowley doesn't hold conventional U.S. Treasury bonds. He...
- The Death Of The Dollar? – By Rob Arnott
To no one’s surprise, the Fed announced that it will replace the expiring “Operation Twist”—in which it was selling $45 billion of short maturity treasuries and buying a like amount of long maturity treasuries every month—with continued purchases...
- The Yield Hunt - By Michael Lewitt
Anyone who does not understand that the price of every stock and every bond is being artificially altered by the fact that interest rates are being manipulated by the Federal Reserve should not be risking any money in the markets. Monetary policy has...
- Big Long Is New Big Short As Bass Joins Subprime Bet
Investors who made some of the biggest profits from the 2007 bust in U.S. mortgages are once again in agreement. This time, they’re going long. Hedge fund manager Kyle Bass, who made $500 million betting against subprime debt in the crash, is raising...
Money and Finance
Links
Ginni Rometty, chairman and CEO of IBM, on Charlie Rose (video) (LINK)
A breakdown of some of Michael Burry's posts on the Silicon Investor message boards from the late 90's (LINK)
The great bond conundrum (LINK)
AT THE start of 2015, the yield on Germany's 10-year bonds was 0.54%, which probably did not look very enticing to investors. Now, however, the yield is just 0.1% and seems to be heading inexorably for zero. Already the average yield on all German debt is negative. A recent survey found that a net 84% of global fund managers thought bonds were overvalued.
How far can this go? That is the dilemma. In the long run, such a yield looks crazy; in the short run, not so much. The European Central Bank is buying bonds to the tune of €60 billion ($64 billion) a month. Betting against a purchaser with an unlimited credit card is like standing in front of a train.
The printed organs coming to a body near you (LINK)
- Links
Audible Clips... For those who listen to audiobooks on Audible, THIS is a nice new feature. Japan 10-Year Yield Drops to Record, Below Negative Deposit Rate (LINK) Investors at home and abroad can’t get enough 10-year Japanese government bonds, driving...
- Stewart Cowley, The Bond-fund Manager Who Can't Stand Bonds
Thanks to Matt for passing this along. Stewart Cowley manages $1.5 billion in the Old Mutual (ODMTY) Global Strategic Bond Fund. One place he generally avoids investing that money: bonds. Mr. Cowley doesn't hold conventional U.S. Treasury bonds. He...
- The Death Of The Dollar? – By Rob Arnott
To no one’s surprise, the Fed announced that it will replace the expiring “Operation Twist”—in which it was selling $45 billion of short maturity treasuries and buying a like amount of long maturity treasuries every month—with continued purchases...
- The Yield Hunt - By Michael Lewitt
Anyone who does not understand that the price of every stock and every bond is being artificially altered by the fact that interest rates are being manipulated by the Federal Reserve should not be risking any money in the markets. Monetary policy has...
- Big Long Is New Big Short As Bass Joins Subprime Bet
Investors who made some of the biggest profits from the 2007 bust in U.S. mortgages are once again in agreement. This time, they’re going long. Hedge fund manager Kyle Bass, who made $500 million betting against subprime debt in the crash, is raising...