[Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Protecting Taxpayers From Bank Robbers Wall Street “The best way to rob a bank is to own it.” –book title; William K. Black “The biggest bank there is . ....Read More
Janet Yellen Playing Ben Bernanke’s Favorite Tune Maybe, someday Saved by zero I’ll be more together Stretched by fewer Thoughts that leave me Chasing after My dreams disown me Loaded with danger Maybe I’ll win Saved by Zero Holding onto Words that teach me I will conquer Space around me Maybe I’ll win Saved by...Read More
Markets Now Testing 3 Hypotheses “Don’t fight the Fed.” –Wall Street mantra “Don’t fight the Fed . . . unless the Fed is out of ammo.” –2015 update(?) I don’t know if the Fed put is kaput, but the Chinese put — if there ever was one — certainly appears to be history. What I’m referring...Read More
China’s Chickens Come Home to Roost** or, Is the Opposite of the “Wealth Effect” the “Poverty Effect??” Normally, I tell prospective home Buyers and Sellers to tune out “macro” factors like the broader economy, (un)employment, etc. and instead focus on “micro” factors affecting the specific property they want to buy or sell. So, forget about...Read More
Ben Bernanke’s Mortgage “Fools rush in where angels fear to tread.” –Proverb “This side appears to be brown.” –Joke about what a CPA will answer, when asked what color a horse standing 50 feet away in a pasture is. When clients ask me where I think home prices are headed, my standard Realtor answer is,...Read More
Turning Keynes Inside Out “Markets can stay irrational longer than investors can stay solvent.” –John Maynard Keynes In light of The Federal Reserve’s unprecedented, going-on-six-year campaign of monetary stimulus, perhaps the question to ask isn’t, “why are stocks trading at record levels?” Rather, it’s “why aren’t stocks even higher?” My answer: because at least some...Read More
