Tag: asset management
Automation is double-edged sword
It has been coming in waves… Factory automation has been improving corporate profits, but also reducing gainful employment… The opposite of the Henry Ford period, where automation drove employment… The New York Times has dubbed it Robocalypse Now?
Remembering Charles F. Feeney
Reflecting upon this NYT writeup on Charles F. Feeney, businessman and philanthropist…I had the privilege of managing money for Atlantic Philanthropies, his foundation… An inspiring person…
… Bloomberg likes bond blog
Bloomberg on Harvard historian Paul Schmelzing’ blog post on the coming bear market in bonds… Thought provoking and contrarian…
Bonds in historical perspective …
Fascinating blog post from Harvard historian Paul Schmelzing on coming bond bear market: ”Sustained double-digit losses on bond holdings”…
Pity the unloved leveraged loan
Lisa Abramowicz of the Bloomberg Gadfly has an interesting article today: Junk Loans Are Poster Children for Dying Inflation Hopes… The leveraged loan market is see-sawing between Fear and Greed…
You can’t win if state won’t pay
Is nothing sacred?… The Chicago Tribune reports that Illinois is considering suspending payouts to lottery winners in excess of $25,000: Lottery to again delay large payouts due to Illinois budget woes… The State did it once before, in 2015, with disastrous results…
Traders hit snooze on central bank alarms
One of the oldest sayings in finance is very simple, “Don’t Fight the Fed”… As Bloomberg points out in today’s story Central Bankers Tell the World Borrowing Costs Are Headed Higher, the world’s central bankers (including the Fed) are signaling higher interest rates… The markets have not yet gotten the message, lulled to sleep by […]
US stocks toddling for a tumble?
TIAA Chief Investment Strategist Brian Nick makes an awesome analogy to Bloomberg: U.S. Equities Are Risky Like a ‘2-Year-Old on a Jungle Gym’… “The higher the climb, the worse the fall”…
Trouble in paradise?
Puerto Rico is in bankruptcy… The Virgin Islands may be next, according to the New York Times article After Puerto Rico’s Debt Crisis, Worries Shift to Virgin Islands… All the same problems, on a smaller scale… Hard to believe that all the special tax breaks in these jurisdictions will survive…
The Sasquatch of macro indicators
Economic theory says that there is a perfect “neutral interest rate” where everything stays in line… Mohamed A. El-Erian discusses this in his Bloomberg opinion piece What You Should Know About r*… There’s just one small problem… “r* is not directly observable”… This means that the correct level is only know with 20/20 hindsight…
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