-
Recent Posts
Recent Comments
Archives
- October 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
Categories
Meta
Category Archives: Uncategorized
Keystone Kops Cuff the Middle Class; Will GOP Bail It Out?
Among Barack Obama’s many failures none is more stunning than his purported effort to reduce income inequality, which he calls “the defining issue of our time.” While the nefarious 1% prospers (and pays 35% of U.S. income taxes), the bottom … Continue reading
Posted in Uncategorized
Tagged enviro-mania, inequality, Keystone XL, mansions, Republican Party
Leave a comment
The Big Money Loves Tech & Healthcare, Not Industrials and Consumer
I like to check out the biggest holdings of the major mutual funds, for two reasons. It shows which names are already loved by the Street and at risk of becoming less loved, and vice versa. Second, the guys and … Continue reading
Posted in Uncategorized
Tagged growth stocks, healthcare stocks, industrial stocks, mutual funds, stock selection, tech stocks
Leave a comment
Cotton, Capitalism and Poverty Reduction
“Dyed in Blood: A Harvard historian shows how every stage of the industrialization of cotton rested on violence.” So reads the headline in last Sunday’s New York Times Book Review, regarding Sven Beckert’s volume, Empire of Cotton. The book is … Continue reading
Stocks Are Expensive, Offer Mediocre Risk / Reward
Using $124 S&P 500 EPS for 2015, the forward PE of the market is 16.8x, which seems reasonable compared to the 17.1x average PE since 1989. Unfortunately this comparison is misleading for two reasons: The average since 1989 is inflated … Continue reading
Posted in Uncategorized
Tagged equity valuation, PE ratios, S&P 500, stock market, stock market cycles
Leave a comment
Enviro-colonialism in New York
Liberals have unlimited capacity to compartmentalize issues and ignore their obvious interconnections. It would not be surprising to see The New York Times decry wage stagnation on Monday and income inequality on Tuesday; bemoan the low incomes of African Americans … Continue reading
Posted in Uncategorized
Tagged Andrew Cuomo, Elizabeth Warren, enviro-colonialism, fracking, inequality, New York State, poverty and health
Leave a comment
Emerging Market Masochism
I had lunch in midtown with my friend Fred, a veteran Street salesman, who handed me a glossy brochure from an emerging market fund manager who had visited his office. The pitch was (Surprise!) emerging markets have underperformed, investors are … Continue reading
Posted in Uncategorized
Tagged asset allocation, diversification, emerging markets, equity investing
Leave a comment
From the Greatest Generation to the Weakest (and Dumbest)
If Diane Feinstein and John McCain had been governing the U.S. during World War II, today we would be speaking German and worshipping the divine Shinto Emperor. Instead Americans look back with heartfelt gratitude at “the Greatest Generation” of men … Continue reading
Posted in Uncategorized
Tagged civilian casualties, greatest generation, torture, World War II
Leave a comment
Dems Suffer from ODS (Obamacare Denial Syndrome)
William Galston of the Brookings Institution thinks of himself as a moderate, level-headed Democrat well-versed in the subtle intricacies of public policy. Writing in The Wall Street Journal he admonished, “Democrats, It’s Time to Move On” (past the intra-party wrangling … Continue reading
Posted in Uncategorized
Leave a comment
Regulation Matters: Germany’s Green Energy Nightmare
Wall Street lavishly over-analyzes fiscal and especially monetary policy, while largely ignoring the economic impact of regulatory policy, despite its great importance for investors. Actually three disparate groups are guilty of this oversight: The media tends to focus on Washington … Continue reading
Posted in Uncategorized
Tagged energy regulation, Europe growth, Germany, green energy, macroeconomics, Regulation
Leave a comment