I occasionally like to make predictions about the stock market. I’m hoping that if I’m ever right, I can parlay the retroactive correctness into fame and fortune as a stock market guru. After all, that’s how stopped clock bears like Mish Shedlock, Karl Denninger and the “evil speculator” worked it. Those that were right about [...]
A few weeks ago I was sitting in a coffee shop writing my thesis. Next to me were two students from Harvard’s Business School, that esteemed institution responsible for many of the managers who have been doing such a bang up job of running our nation’s financial system. They were going over a case for [...]
As pointed out by Mish Shedlock, the public MTA union has brokered an 11% pay increase while municipalities across the country struggle to make ends meet. The callous disregard of public unions for their taxpaying “employers” is highlighted in this article by the candid comments of an Albany police union chief, who [...]
If there’s one thing we’ve learned from the financial crash, it’s that the efficient market hypothesis is utterly bogus. As a corollary, just as dead is the idea of buy-and-hold investing as a rational way to make money. Stock market results from Japan over the past two decades, and now America and Europe, are making [...]
Housing numbers were just released, and the big news is that home sales were up 11% from the last month. That’s 11% up in volume, not price. Prices are still abysmal on a relative basis, down 12% from this time last year (and yet still too high, if you ask me). There are more [...]
In the latest consumer price index (CPI) report, all seems fine. Core CPI went up 0.1%, suggesting the Fed is succeeding at holding back the evil specter of deflation, which brought down the economy during the Great Depression. But a closer look at the numbers reveals that were it not for the government imposing a [...]
E*TRADE just sent a letter out to all mutual fund holders to the effect that they will be liquidating their entire family of index mutual funds this week. All funds will be cashed out by Friday:
After long and serious consideration, E*TRADE Securities has made the decision to discontinue our family of proprietary index mutual [...]
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This is my old site, preserved only to keep links from breaking. The new one is at www.jonbirge.net. Everything here is also over there, plus new stuff.Blogs
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