Tag: Max Holmes
When ‘Smart Beta’ gets crowded
Man Bites Dog… Burton Malkiel, the Princeton professor whose classic book “A Random Walk Down Wall Street” presaged in 1973 indexing as an improvement over active stock investing, has now embraced Smart Beta… James B. Stewart’s New York Times article, An Index-Fund Evangelist Is Straying From His Gospel, sets forth his case… One giant issue remains… It’s […]
How car loans are different in a foreclosure
Most (but not all) states in the United States have some combination of “anti-deficiency laws” or “non-judicial foreclosure” proceedings, which prevent a bank or other lender from getting a deficiency judgment against a homeowner who has been foreclosed on… These rules prevent the lender from continuing to seek principal, interest, fees and expenses after the […]
On Argentine long bond, question is not if, but when?
Argentina has re-entered the global bond market with a bang, $2.75 billion of a 100 year bond… The 7.125s of 2117 were issued at 90c to yield 7.917%… 100 year issues are rare, even rarer when rated B3… Argentina has been in default during 38% of its 200 year history, so this bond is almost […]
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