Posts filed under “Really, really bad calls”
Rich Karlgaard gets all up in the grills of the “über bears” in this post. This alone would not be particularly noteworthy, except Karlgaard is quite charming and somewhat reserved in person.
He calls Robert Prechter “howling insanity,” noted that Paul Farrell is the new “apocalypse beat writer,” and saves particular vitriol for “the oddest of them all, a book writing blowhard Harry Dent.”
I’ll takes pop psychology for $100, Alex
“The howling insanity of Prechter and his fellow bears is rising. My theory about this is admittedly cynical. It could be called The Men Who Want to Be Roubini. The [NYU] econ professor and permabear, Nouriel Roubini, happened to be in the right place at the right time with the right call in September 2008. The result was that Roubini’s lecture fees zoomed from cab fare to $60K in seven seconds.
The Men Who Want to Be Roubini–which is to say rich and famous . . . “
Ouch . . .
He does have some nice things to say about Doug Kass and I. (Dougie — remind me never to piss Rich off!)
Insane Bulls And Bears
Digital Rules, July 7, 2010 – 3:21 pm
Fantastic investor letter from the Lex team at the FT on contrarian investing against the expert consensus: “Dear Investor, It has been a profitable first half for Contrarian Partners. Our core investment strategy remains unchanged: to mine the research produced by investment banks every six months to establish consensus trading strategies. Then trade against them…Read More
The Greenspan reputation legacy destruction tour continues apace. This morning, Easy Al is on Squawk Box, making another attempt at salvaging his rep. There goes my morning . . . I am going to have to spend the next few hours fisking his unique brand of wrong. He still slings the fertilizer as well as…Read More
StereoHell/Imp Kerr, who did the fantastic illustrations for the Bailout Nation chapter titled Casino Capitalism, is showing the very same work at the Tribeca Grand. (full size versions can be seen here) The show has a website where you can purchase the artwork, including all of the bailed banks as Las Vegas Casino drawings: …Read More
The New York Time’s David Leonhardt has the perfect article for the layperson who wants to understand the current debate between the deficit hawks and the stimulus advocates: “The policy mistakes of the 1930s stemmed mostly from ignorance. John Maynard Keynes was still a practicing economist in those days, and his central insight about depressions…Read More
About two weeks ago, Kartik Athreya, a researcher for the Federal Reserve Bank of Richmond, posted a diatribe about the difficulties in performing macroeconomic research and policy. Titled “Economics is Hard. Don’t Let Bloggers Tell You Otherwise,” it was an odd sort of academic rant. Stung by myriad criticisms of the Fed, Athreya attempted to…Read More
Sometime over the past two weeks, the word “Austerians” burst onto the blogosphere. A play on the fiscal reserve of the “Austrian” school of economic thought (Friedrich Hayek or Ludwig von Mises) the phrase Austerians referred to the desire to slash government spending and cut deficits during a time of economic weakness or recession. Economix…Read More
This continues to be fascinating: “The U.S. health system is the most expensive in the world, but comparative analyses consistently show the United States underperforms relative to other countries on most dimensions of performance. Among the seven nations studied—Australia, Canada, Germany, the Netherlands, New Zealand, the United Kingdom, and the United States—the U.S. ranks last…Read More
One of my regular criticisms of George W. Bush as President was, when presented with an opportunity to achieve greatness, he repeatedly failed to rise to the occasion. Indeed, his presidency can be viewed as a long series of missed opportunities: “Once in a generation, the stars align for a political leader. There is this…Read More