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24 March 2014

Linkfest: Did Yellen gaffe? The ‘Minsky Moment;’ The banker suicides

By Druce Vertes, CFA

Today’s most shared: Did Yellen swing and miss in her first Fed at-bat? The ‘Minsky Moment’ explained. And does the Greenspan/Bernanke/Yellen put help growth in the long run? Michael Pettis on economic consequences of income inequality. Bad economics; Subjective policy … Read more

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21 March 2014

The Fed Was Right to Drop the Unemployment Rate Target

By David Schawel, CFA
David Schawel, CFA

Economic observers and money managers have faced a confusing environment since last summer, when then-Chairman Ben Bernanke shook the complacency of the market and signaled a tightening. Markets are made at the margin, and in this case the tightening, in … Read more

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21 March 2014

Linkfest: Yuan’s fall hurts traders; Russian sanctions bite; Fed dove dissents from guidance

By Druce Vertes, CFA

Today’s most shared: Yuan’s fall punishes speculators. Russian sanctions punish some financial institutions. Kocherlakota blasts Fed guidance. Volcker rule will force banks to take losses. SEC looking into bond dealers who offer different prices to different market segments. Can the … Read more

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20 March 2014

Linkfest: Yellen spooks markets; HFT infallibility; All the news that’s fit to sell something

By Druce Vertes, CFA

Today’s most shared: A gentleman is never unintentionally rude, and a Fed chair is never unintentionally hawkish. Why do HFT firms rarely lose money? Inside the news sausage factory: It’s only news if someone doesn’t want it in the paper… … Read more

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19 March 2014

Linkfest: Yellen’s first ‘Fed day’; Luck v. skill in investing; Don’t mortgage your house to buy stocks

By Druce Vertes, CFA

Today’s most shared: Yellen’s first FOMC meeting as chair, and her first press conference… Allowing any intentional inflation ‘overshoot’ seen explicitly ruled out by policy, and by central banker DNA. Luck v. skill: Bill Gross v. Bill Miller. Why you … Read more

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18 March 2014

Linkfest: Revenge of the 1%; Credit rating arbitrage; Hedge fund tries to unmask anonymous blogger

By Druce Vertes, CFA

Today’s most shared: The 1% bounce back from adversity. Phew, that was a close call. As long as productivity rises and the median wage stays flat, the top of the income distribution wins. It’s harder and less profitable to be … Read more

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18 March 2014

Successful Investing Is Not a Ranking

By A. Michael Lipper, CFA
A. Michael Lipper, CFA

All too often, we unconsciously use arbitrage selection. We compare a given result against a perceived standard. This often leads to ranking against the standard. A classic old gag is an example of comparison: A man is asked how his … Read more

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17 March 2014

Linkfest: Treasury bond fire sale; How rich are US stocks? What’s a digital publisher worth?

By Druce Vertes, CFA

Today’s most shared: Russia rumored to sell Treasurys as sanctions advance. How expensive is the US stock market? Fresh cash for Business Insider, but what is it worth long term? Janet Yellen’s first FOMC meeting. The life of a Canadian … Read more

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14 March 2014

Linkfest: China tries for soft landing; Price rises slow investor push into houses; The online MBA that killed the business school

By Druce Vertes, CFA

Today’s most shared: China looks to nail the soft landing, avoid overshooting. Euro rises, yields fall as China exports deflation to Europe. Blackstone slows home buying as prices catch up with rents. Top schools’ online MBAs and massive open online … Read more

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13 March 2014

Linkfest: Labor market slack, revisited; Fault found with Wall Street culture; Market tops

By Druce Vertes, CFA

Today’s most shared: ‘Slackers’ v. ‘Quitters’ — More on labor market slack and Fed policy. Regulators call out Wall Street’s culture. Inside the forgery factory: Wells Fargo allegedly documented how to manufacture old mortgage documents when the ones they needed … Read more

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All posts are the opinion of the author. As such, it should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

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