Shortage of Sellers/Surfeit of Buyers [Note: the following column is dedicated to the memory of Ned Krahl, a good friend who passed away unexpectedly over the Summer, and whose opinions and sense of humor are sorely missed.] On an elemental level, every asset bubble in history is reducible to a simple phenomenon: a (relatively) sustained...Read More
Investors, Savers Between a Rock & a Hard Place I have no idea where the stock market is headed from here (and neither does anyone else). But, in the event that it suffers a sharp break — possibly in connection with the playing out of central bank stimuli — I have no doubt what at...Read More
Rationally Assessing an Irrational Event “The current situation is not supposed to happen, which makes it tricky for us to understand exactly when it will end.” –Ben Inker, GMO Quarterly Newsletter (Q1 2013) Investing guru and resident elder Jeremy Grantham’s latest quarterly newsletter is out, and the surprise — at least to me — is...Read More
To Open an Account or Not (That is the Question) My son’s Bar Mitzvah (Jewish confirmation, sort of) is rapidly approaching, which means that a slew of checks — many of them from out-of-state relatives — isn’t far behind. Opening a “kid” checking account for him certainly seems like the smart, responsible thing to do....Read More
“The Liquidity Interest Rate Trap” Well I don’t know why I came here tonight, I got the feeling that something ain’t right, I’m so scared in case I fall off my chair, And I’m wondering how I’ll get down the stairs, Clowns to the left of me, Jokers to the right, here I am, Stuck...Read More
