LATEST BLOGS

Analysts And Other Losers

Apropos my last piece on superfunds I was pondering why they are so ordinary and I remembered a piece I did on this many years ago which I have reproduced below.   Wall Street relies on “stock analysts.” These are people who do research on companies and then, no matter what they find, even if…

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Arseholes

The Telegraph – Staff are understood to have received quarterly bonuses last Monday. It is not clear whether the bonuses were also received by staff in the US. The news is likely to anger those MF Global customers who have still been unable to access money they held with the broker It is not surprising that…

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Arseholes

The Telegraph – Staff are understood to have received quarterly bonuses last Monday. It is not clear whether the bonuses were also received by staff in the US. The news is likely to anger those MF Global customers who have still been unable to access money they held with the broker It is not surprising that people…

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Michael Lewis Meets Daniel Kahneman

When you wander into the work of Kahneman and Tversky far enough, you come to find their fingerprints in places you never imagined even existed. It’s alive in the work of the psychologist Philip Tetlock, who famously studied the predictions of putative political experts and found they were less accurate than predictions made by simple…

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Olden Days Part Two

With Italy showing Greece that it doesn’t have a monopoly on incompetance I thought I would redo the graphs I showed in this posting with a look back period of a one year. As you can see in terms of compound daily growth last year has been a shocker.  

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Olden Days Part Two

With Italy showing Greece that it doesn’t have a monopoly on incompetance I thought I would redo the graphs I showed in this posting with a look back period of a one year.           As you can see in terms of compound daily growth last year has been a shocker.

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Michael Lewis Meets Daniel Kahneman

When you wander into the work of Kahneman and Tversky far enough, you come to find their fingerprints in places you never imagined even existed. It’s alive in the work of the psychologist Philip Tetlock, who famously studied the predictions of putative political experts and found they were less accurate than predictions made by simple…

Read more

Well This Looks Depressing……

The chart below is from Merrill Lynch’s Market Analysis and it shows according to their definition the last four major bear markets including the bastard of a one we are stuck in at present. From my perspective the issue is the relevance of such charts – granted there are lost decades for buy and hold…

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TV

I have been following The Atlantics remarkable photo essay on WW2. The entire series can be found here Parts of it as you would expect are brutal in the extreme but it does show the extraordinary resilience of people in times of appalling violence. The current series is about life after the war and the image below…

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