Posts filed under “Really, really bad calls”
Act. v. What a financial market supposedly does. As if it were a living creature with a sense of self and volition . . . Depicting a financial market as an athlete sprinting, leaping or cliff diving makes news coverage more exciting than a droning flux of numbers. The above definition is from “The Devil’s…Read More
Some people look at subprime lending and see evil. I look at subprime lending and I see the American dream in action. My mother lived it as a result of a finance company making a mortgage loan that a bank would not make. –former U.S. Senator Phil Gramm Many elected or appointed officials…Read More
How’s your macro? Not too good? Terrible? Unsure what that even means? Let’s start here: Macro refers to the large geopolitical moments, and the natural and man-made disasters, that some investors track as potential market moving events. Large economic trends or reversals, diplomatic breakthroughs, political crises and even war are all macro events. Think: a…Read More
Let’s say this right up front: The SPDR Gold Shares Trust exchange-traded fund has killed the shares of the gold miners. For a few years now, I have been very skeptical about gold’s value as an investment (this may seem excessive, but see this, this, this, this,this, this, this, this, this, this and of course this). The primary reason for this is straightforward: Gold is bought…Read More
How can the life of such a man Be in the palm of some fool’s hand? To see him obviously framed Couldn’t help but make me feel ashamed to live in a land Where justice is a game.—Bob Dylan, “Hurricane” Justice in America is not all it’s cracked up to be. Just ask…Read More
On Monday, I discussed why Tesla’s latest announcement was big. The electric carmaker said it planned a modification that would give its autos the ability to accelerate faster than cars that cost two to three times more and keep up with those that cost 10 to 20 times more. That’s an astonishing accomplishment. I made the…Read More
Earlier this summer, I tweeted a wonderful line from Brett Arends column, 25 things I wish I knew when I graduated from high school:
3 simple rules will explain 99% of human behavior 1: Most people don’t think. 2: Some people are jerks. 3: Everyone is selling something.
— Barry Ritholtz (@ritholtz) June 15, 2015
That led to a delightful column last week from Michael Johnston’s A Visual History of Market Crash Predictions.
Here are some of the more egregious calls, but the entire article is well worth your time to read:
Source: Fund Reference
The National Security Archive has posted several newly available documents, one of them an account by Charles Duelfer of the search he led in Iraq for weapons of mass destruction, with a staff of 1,700 and the resources of the U.S. military. Duelfer was appointed by CIA Director George Tenet to lead a massive…Read More