CUBA Herzfield Caribbean Basin

In the announcement of US potentially normalizing relations with Cuba, the $33 million dollar closed end fund “Herzfield Caribbean Basin” — stock symbol CUBA — popped 40%:


click for ginormous chart


Here are its main holdings:

CUBA holdings


So much for those theories that investors are rational and markets are efficient . . .


UPDATE: Josh has the details here

Category: Markets, Psychology, Really, really bad calls

World Hot Spots That Could Ruin Your 2015

click for interactive graphic Source: Bloomberg

Category: Digital Media

10 Wednesday AM Reads

My post holiday party, how did I get home from Brooklyn, morning reads: •  Putin on the Fritz (Krugman) see also Checkmate, Putin. Russia’s economy is stuck in a catch-22. (Wonkblog) • The World Hot Spots You’ve Never Heard of That Could Ruin 2015 (Bloomberg) • Bond Investors Are Skittish Over Emerging Markets (Dealbook) • How Obamacare…Read More

Category: Financial Press

Colbert on the Torture Report

Category: Video, War/Defense

Two Sectors & Two Observations

Two Sectors & Two Observations David R. Kotok December 16, 2014     Two Sectors.   As we approach 2015, two standout sectors remain overweight in our US ETF (exchange-traded fund) portfolios. They are the Utilities and the Transportation sectors. Both sectors are largely domestic American businesses. (Most of the companies in the ETFs that…Read More

Category: Think Tank

10 Tuesday PM Reads

My afternoon train reads: • ​Sorry, Putin. Russia’s economy is doomed (WonkBlog) see also Why Are Commodity Prices Falling? (Project Syndicate) • Is Technology Speeding Up Market Cycles? (A Wealth of Common Sense) • Investors Flee Active Stock Managers (WSJ) • Jeffrey Gundlach, on his year as new ‘King of Bonds’ (Reuters) • Higher capital requirements didn’t slow the…Read More

Category: Financial Press

Genius Social Media Strategy

My boy Mike, inspired by this, is busy testing the waters on a new Social Media project:   Will delete one of those tweets before the end of the day. — Irrelevant Investor (@michaelbatnick) December 16, 2014 Today will mark a bottom before we go to new highs. — Irrelevant Investor (@michaelbatnick) December 16, 2014…Read More

Category: Web/Tech

Beware Anecdotal Sentiment Readings!

It’s the time of year when predictions are in order. Not by us, but by other people. We have spilled plenty of pixels on why forecasts are folly (see this, this, this, this and this); we won’t revisit that well-trod ground, at least not today. Instead, I wanted to discuss the rather annoying tendency of…Read More

Category: Really, really bad calls, Sentiment

The Rise of Men Who Don’t Work (and What They Do Instead)

Source: The Upshot

Category: Employment

Masters in Business: Bill Grueskin

In this week’s “Masters in Business” podcast, I speak with William Grueskin, former managing editor of the Wall Street Journal Online, and former academic dean of the Columbia School of Journalism. (Since our interview, Grueskin has joined Bloomberg as executive editor for training.) In our conversation, we discuss the challenges of competing against “free.” Grueskin witnessed the…Read More

Category: Podcast