Money and Finance
Tim Ferriss interviews Brendan Moynihan, co-author of What I Learned Losing a Million Dollars (LINK)
Oaktree Is Said to Seek $10 Billion for Distressed Fund (LINK)
What Shane Parrish learned from Peter Thiel's Zero to One (LINK)
- Links
For the next week, there are some good non-fiction books available for sale on Audible.com for $4.95 [In the Plex, The Emperor of All Maladies, The Selfish Gene, The Talent Code, Mistakes Were Made (But Not By Me), A. Lincoln, and a couple of others that...
- Howard Marks' Crystal Ball Proved Accurate
Link to article: Howard Marks' Crystal Ball Proved Accurate Ten years ago, veteran investor and writer Howard Marks sent a contrarian -- and prescient -- memo to clients of his firm, Oaktree Capital Management, assessing the state of the hedge...
- Why Buffett Is Steering Clear Of Catastrophe Bonds - By Gillian Tett
Link to article: Why Buffett is steering clear of catastrophe bondsWhen Warren Buffett held his annual shareholders meeting last weekend in Nebraska, investors obsessively discussed everything that the Sage of Omaha said about the equity market and his...
- Fishy Tale
Thanks to Will for passing this along. The story of a dollar-bond issue in Mozambique is a parable of easy money A DESPERATE search for bonds that pay a decent rate of interest and a keen desire for exposure to economies that are still growing quickly...
- Little Logic To Bond World Amid Current Risk Phobias - By Jim Grant
"There are no bad bonds, only bad prices," the traders used to say. They should say it again, only louder. In the spring of 1984, long-dated Treasuries went begging at yields of nearly 14 per cent in the context of an inflation rate of just 4 per cent....
Money and Finance
Links
Tim Ferriss interviews Brendan Moynihan, co-author of What I Learned Losing a Million Dollars (LINK)
Oaktree Is Said to Seek $10 Billion for Distressed Fund (LINK)
“Credit standards have dropped and non-investment grade debt issuances reached record levels,” John Frank, Oaktree’s managing principal, said July 31 on a conference call with investors and analysts. “Aggressive extensions of credit of the sort we’re seeing today have always been a precursor to a substantial distressed-debt opportunity.”Century bond surge defies rate fears [H/T Will] (LINK)
Investors are seizing the chance to lend money to US companies and municipalities for up to 100 years in exchange for a chance to capture higher yields for longer.
Sales of the so-called ultra long bonds, those maturing in 50 years or longer, have exploded this year despite expectations of higher US bond yields, which may hit long-dated corporate and municipal debt.
Cleveland Clinic, the Ohio-based medical and research centre giant, became on Thursday the first not-for-profit healthcare company to sell 100-year bonds....Cleveland Clinic completed the sale of $400m in securities maturing in 2114, with yields of about 4.85 per cent, compared with 3.27 per cent for the US 30-year note, according to people familiar with the sale.Venture Capitalist Sounds Alarm on Silicon Valley Risk (LINK)
What Shane Parrish learned from Peter Thiel's Zero to One (LINK)
I also posted these quotes from Thiel's book on Twitter earlier this morning that may be of interest:And if you follow this blog in an RSS reader, you may have missed the Ben Franklin stuff I added later in the day to yesterday's links, which you may want to check out.
- "You should focus relentlessly on something you're good at doing, but before that you must think hard about whether it will be valuable in the future."
- "...you can't trust a world that denies the power law to accurately frame your decisions for you, so what's important is rarely obvious."
- Links
For the next week, there are some good non-fiction books available for sale on Audible.com for $4.95 [In the Plex, The Emperor of All Maladies, The Selfish Gene, The Talent Code, Mistakes Were Made (But Not By Me), A. Lincoln, and a couple of others that...
- Howard Marks' Crystal Ball Proved Accurate
Link to article: Howard Marks' Crystal Ball Proved Accurate Ten years ago, veteran investor and writer Howard Marks sent a contrarian -- and prescient -- memo to clients of his firm, Oaktree Capital Management, assessing the state of the hedge...
- Why Buffett Is Steering Clear Of Catastrophe Bonds - By Gillian Tett
Link to article: Why Buffett is steering clear of catastrophe bondsWhen Warren Buffett held his annual shareholders meeting last weekend in Nebraska, investors obsessively discussed everything that the Sage of Omaha said about the equity market and his...
- Fishy Tale
Thanks to Will for passing this along. The story of a dollar-bond issue in Mozambique is a parable of easy money A DESPERATE search for bonds that pay a decent rate of interest and a keen desire for exposure to economies that are still growing quickly...
- Little Logic To Bond World Amid Current Risk Phobias - By Jim Grant
"There are no bad bonds, only bad prices," the traders used to say. They should say it again, only louder. In the spring of 1984, long-dated Treasuries went begging at yields of nearly 14 per cent in the context of an inflation rate of just 4 per cent....