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LewisBraham
Hi Hank,
Your satire came across very well. Don't worry about the user name.
Best,
Lewis
There are good cases for both sides of this debate. That's why it's a blood in the streets moment. One question that arises in my mind: Is Chinese capitalism too big to fail? I think the country has come so far in its evolution it would be catastrop…
When a fund manager is making more, in aggregate, than a fund's investors that sends up all sorts of red flags for me. The same can be said for almost every actively managed bond fund manager in the last three years, thanks to this year's terrible p…
@sfnative It's worth debating the value of emerging market funds overall or Geritz's poetry, but she has an excellent track record as a manager in this fund category: https://morningstar.com/funds/xnas/rnwox/performance It just happens to be the cas…
It's certainly a good short-term investment, but a lot depends on whether or not we enter a recession to make it a good long-term one. If the CPI goes down instead of up, it's dead money paying nothing. But in the short-term, it's hard not to like 6…
@yogibearbull Your analysis is correct for the dangers of these exotic securities, yet the suddeness of the decline sounds like a liquidity crunch and a repricing based on that. Here what Balchunas said: Here's one of the most fascinating, and unnat…
@Derf Let's say you own an exotic security as the manager of a fund that no one else owns. How do you value this security as it doesn't trade on any exchanges? You hire an outside pricing service to value it based on comparing it to similar but not…
I still would like to read more Wall Street poetry. Anyone got an ode, sonnet or elegy that's good and not just versifying they'd like to recommend or share?
https://amp.cnn.com/cnn/2022/10/31/americas/brazil-election-result-explainer-intl-latam/index.html
“Anywhere else in the world, the president who lost would have called me by now and conceded," Lula da Silva told supporters on Sunday night, explaini…
I have long wondered if there is any good poetry about Wall Street. Geritz's poem here, by her own admission, doesn't quite cut it. Here's one allegedly by Edgar Allan Poe:
Epigram for Wall Street
I'll tell you a plan for gaining wealth,
Better th…
Very good news but I won't be relieved until the Brazil nut acknowledges that he lost and officially concedes: https://nytimes.com/2022/10/30/world/americas/bolsonaro-election-results.html
As of 9 p.m. local time, Mr. Bolsonaro had yet to concede or…
@Observant1 Expanded state control of the economy may lead to unsatisfactory investor outcomes. This is indeed why the market has sold off. The question for the value investor is at what point are the risks of expanded state control "priced in" to s…
@larryb Sorry, Larry. I did not mean to offend you, and I know a bit of your good works from previous posts. From my perspective, though, I am bombarded by messages every day from folks on the Street anguishing about taxes that really are not so bad…
@MSF Sarcasm is often harder to detect in the written word than in the physical world. I don’t think of the numerous tax loopholes for the wealthy as good news for society, although it is good for them. The quote’s history from my research indicate…
@Benwp I completely agree about the volatility and risks. But I don’t think any blood-in-the-streets investment comes without that. This is why theoretically value investing works, the psychological toll those kinds of investments take to make. What…
It's funny but this is the proverbial "blood-in-the-streets" moment discussed in another thread. But I bet few takers. The ETF ECNS for instance currently has a p-e ratio of 5 and a price-book ratio of 0.6. Those are Ben Graham levels of cheapness f…
The ETF’s largest and most biblically “inspirational” company is Devon Energy: https://asyousow.org/resolutions/2020/01/04/devon-energy-climate-change-risk-reporting?format=amp Diamondback Energy follows close behind: https://violationtracker.good…
Seems like MBXIX is the only fund from Catalyst that has delivered on its promises long term. IOXIX is an excellent illustration of why some investment strategies belong only in interval or closed-end fund structures. Outflows forced the manager to …
The one issue I’ve heard with this Paxlovid treatment is the potential for Covid “rebound”, but doctors think it’s still worth taking: https://scientificamerican.com/article/what-is-paxlovid-rebound-and-how-common-is-it/?gclid=Cj0KCQjwteOaBhDuARIsAD…
“Taxation is the price we pay for civilization.” Oliver Wendell Holmes. According to fellow Supreme Court Justice Felix Frankfurter: “[Holmes] did not have a curmudgeon’s feelings about his own taxes. A secretary who exclaimed ‘Don’t you hate to pay…
From the letter: Pain + Reflection = Progress
Ah, that old Judeo-Christian notion of the redemptive nature of suffering. Sometimes Pain just = Pain. Or worse, permanent scarring and fear. The Nietzchian notion that "That which does not kill me only …
@Crash I would agree that the issue of “wokeness” is really just a distraction and a tool the GOP is using to win votes when there are much larger issues at play. In fact, I am fairly certain that the term “woke” is now used more by the right wing t…
@Crash Anna is correct. For some reason, it linked to the comments section of the story, but if you scroll up you can read it. Or, you can try this: https://nymag.com/intelligencer/2022/10/how-to-make-a-semi-fascist-party.html
@Anna I don't think a…
It does seem odd to me that someone who has openly declared he is “on the spectrum” will be in charge of a social media platform that is for socializing and connecting with other people. There are a number of brilliant engineers, mathematicians and …
The story mentions Verizon in the value camp as one that has done poorly. It's getting clobbered again today, and now has an eye-popping 7% dividend yield. Either it is insanely cheap or that dividend will soon be cut. I'm going with cheap: https://…
We do, thanks in large part to the same ideology. The difference is in England they'd play the Beatles for nostalgia, while here we would listen to Springsteen's "Glory Days."
Britain's resurgent nationalism has so metastasized they will knowingly elect and re-elect a buffoon just to keep Britain "British." They used to say the sun never sets on the British empire. Now I don't even think it rises there anymore. It's funn…
I'm surprised they didn't just merge it into WSCVX. Liquidation increases tax headaches. Also, it's a pity as it seemed like a decent fund, and the team has been covered here before at MFO: https://mutualfundobserver.com/?s=walthausen
Kavanaugh: "Yes, we drank beer. My friends and I. Boys and girls. Yes, we drank beer. I liked beer. Still like beer. We drank beer."
Walker brandishing fake badge at debate: "I am--work with police officers."
Trump: "Bomb the s--t outa 'em."
Reag…
Funny because the fact that they're storing this information and possibly using it for other purposes would make me not want to buy the watch. Everyone here makes good points, though.
@MrRuffles
CCS Insight believes that Apple will take its tentative first steps into the U.S. health insurance market in partnership with a major insurer, using the health data it’s already collecting to give it a competitive edge over rivals.
Appl…
I believe the interval fund is a good structure with poor execution so far. If someone could offer a low fee product in an interval structure to invest in illiquid assets without applying any leverage, it could be quite attractive. But almost every …
@Sven Watch this documentary and you will understand what happened to the Labor Party in Britain and the Democratic Party in the U.S. post-Thatcher/Reagan:
