One of the things you learn from years of dealing with markets, is that you can’t turn your back on a market participant, but always turn your back on a crisis. Especially when it’s waving a razor-sharp hunting knife in … Read more
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SHANGHAI: With the free trade zone, the dozing Chinese panda may get a B12 shot and regain some of the massive potential from latter years. While the financial world has put a ludicrously large focus on the Fed and tapering, something … Read more
2 CommentsWhen I was asked, “What do you believe but can’t prove in investing?” the Donald Rumsfeld quote about knowns, known unknowns, and unknown unknowns came to mind. Where in that context do unprovable beliefs fit? My first thought is that they’re known unknowns. If we have an unprovable belief, then we have a strong opinion that could be wrong, which would seem to place us squarely in the known unknowns.
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This is part two of an hour long conversation with Mike Mayo, CFA, a banking analyst at CLSA and author of Exile on Wall Street, which details his long and very interesting career. We start this portion of the conversation … Read more
Leave a CommentIntrospection is forcing many managers and investors to privately reconsider the basic premises of their long-term investment strategies. With the popular US stock indexes at or near all time highs, why don’t they feel better? The relative investment performance of … Read more
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