The legendary value investor speaks about today’s markets, gold and the pockets of value starting to open up.
In the US he feels Robert Shiller is right, and the US stock market is still overvalued. The only major stock market he sees that is truly cheap is Japan.
On this day in history: Only woman officer in the Confederate States Army, 1861 So, are high yield bond spreads predicting a recession? Yes, No, Maybe? What about Treasuries? Where do they go? Maybe higher. Maybe not: The trade deficit improved. Goldman sounds excited, however...
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The chance to look at the earth from 6 million miles away Dynamic hedge sees a volatile trading range setting up before a likely move lower. Yesterday was the anniversary of Swaziland becoming independent. On this day the last captive thylacine died. Is volatility still too high? The subprime crisis “was contained” Bernanke said. Glad he is confident...
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Noah Smith gives three possible answers as to why Japanese unemployment is so low (and ends up dismissing one.) I think his last is the main reason, falling real wages:
One need not share Arnold Klings view on the particular issue. However, I think one must appreciate the cleverness of his rhetoric. One view of the Japanese stimulus (or multiple stimuli) is that it (they) failed because it was (they were) too small. Just as the reason that in World War I all British...
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Reader ChrisB asks in response to yesterdays link to Anna Schwartz’s comment on the Federal Reserve: In retrospect, what should the fed have done differently? Risk and Return is really about implications for investment policy, and thus identifying which factors have implications is key. Pumping for particular policy choices really isn’t our role. Still,...
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