Posts filed under “Really, really bad calls”

Are Mutual Fund Managers Skilled?

 

Jonathan Berk turns the efficient market hypothesis, which popularized the belief that mutual fund managers were “monkey investors” who consistently perform worse than the overall market, on its head to prove that mutual fund managers are in fact highly skilled investors. And he proposes a new way to accurately measure a mutual fund manager’s level of skill. Berk is the A.P Giannini professor of finance at Stanford Graduate School of Business.

 

Jonathan Berk: Are Mutual Fund Managers Skilled?

Source: Stanford

 

Category: Investing, Mutual Funds, Really, really bad calls

Red State, Blue State: Kansas & Washington

@TBPInvictus here. We have interesting experiments going on in the state of Kansas and the city of Seattle. Herewith a brief update on both. Thanks to the following Tweet, I was made aware of the fact that – as you can see – the state of Kansas, under Sam Brownback’s awesome tax cuts, recorded the…Read More

Category: Bad Math, Cognitive Foibles, Current Affairs, Data Analysis, Really, really bad calls

The NY Post’s Financial Innumeracy

@TBPInvictus here: The New York Post ran a piece on Netflix (NFLX), written by Claire Atkinson, that was, to put it charitably, interesting. And by interesting I mean that it painfully misstated the very simple mathematics of stock splits. The piece implied that NFLX is wildly overvalued. I have no problem with that. Not that…Read More

Category: Bad Math, Cognitive Foibles, Data Analysis, Financial Press, Really, really bad calls

Mount Stupid

I interviewed Richard Thaler for MiB today. He is known as the father of Behavioral Economics. Parts of our conversation made me think about this classic comic from SMBC” Mount Stupid Source: SMBC

Category: Cognitive Foibles, Humor, Psychology, Really, really bad calls

A Secret Wall Street Brainwashing Machine is Wholly Unnecessary

Every now and again, I disagree with an article written by someone I like and respect. On occasion, an author will crank out a column that makes me angry. And on rare occasions, I will read something where I disagree with just about every sentence. Today is one of those total disagreement days. Marketwatch columnist Paul Farrell…Read More

Category: Asset Allocation, Cognitive Foibles, ETFs, Investing, Psychology, Really, really bad calls

The Delusional Dick Fuld

Richard Fuld, the former chief executive officer of Lehman Brothers, is the Shaggy of finance. On the cause of the financial crisis and the collapse of Lehman Brothers, his claim is, “It wasn’t me.” Seven years after he drove the 158-year old firm he ran with an iron fist into bankruptcy, he has reappeared to…Read More

Category: Bailout Nation, Bailouts, Corporate Management, Crony Capitalists, Legal, Really, really bad calls

Dynastic Billionaire Wealth Under Siege!

This has to be the strangest headline relative to the content I have seen in a very long time:   Source: Wealth Management

Category: Economy, Really, really bad calls, Wages & Income, Wealth Management

A 14 Percent Infrastructure Fix?

My wife leaves for work earlier than I do, giving her first choice of which car to drive. She has a longer drive than my three-minute jaunt to the train station, so I don’t mind. That often means I get the rear-wheel drive convertible in the snowy winter months, and the all-wheel drive Jeep in…Read More

Category: Politics, Really, really bad calls, Taxes and Policy

Top 10: Wall Street Sayings That Should Be Questioned

In honor and reverence to one of my favorite comedic personalities, David Letterman, and the end of his talk show career here is my own market Top 10 List.   Top 10 list of Wall Street sayings that should be questioned 10) There is a lot of cash on the sidelines. There is always a…Read More

Category: Humor, Markets, Really, really bad calls

The Think Tanks

Source: No Exit

Category: Humor, Politics, Really, really bad calls, Taxes and Policy