Mohamed El-Erian Sizes Up 2012 Mohamed El-Erian, the CEO of bond giant Pimco, has written many fine, insightful articles on today’s vexing capital markets. His piece in today’s Wall Street Journal isn’t one of them. See if you can figure out what the following means: Navigating [today’s unpredictable markets] requires investors to rely less on historical short cuts...Read More
Three (and one half) Theories One of the more confounding things about today’s — shall we say — “unusual” housing market is the conspicuous absence of what Realtors used to call the “sweat equity” Buyer. In no particular order, here are the three explanations I hear most often — and find most credible. One. Soft...Read More
Actually, the following joke is obsolete: I can tell you exactly where interest rates are going, because Ben Bernanke told me (and everyone else): zero, for a long time. So, just substitute “stocks” for “interest rates.” Enjoy . . . Einstein dies and goes to heaven only to be informed that his room is not yet...Read More
Safety in Numbers? If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem. –John Paul Getty If a small investor gets ripped off by Wall Street, they’re SOL. But if a whole lot of investors get ripped off by Wall Street, there’s at least the...Read More
