Category Archives: Wall Street

Why Buffett Won His Bet Against Hedge Funds

QE had a lot to do with it. Active fund manager billionaires Warren Buffett and Charlie Munger have been critical of active fund manager millionaires for their very high fees and chronic underperformance. It is not unusual for the ultra wealthy to trash the … Continue reading

Posted in Economy, Federal Reserve, Hedge Funds, Investment, Society, Stock Market, United States, Wall Street | Leave a comment

To Save or Ruin Twitter

A decision that could fix Twitter or hasten its demise. This is not the first article to suggest that Twitter can generate some revenues by charging its users, but perhaps we can offer some new angles to the discussion. To begin, … Continue reading

Posted in 2016 Candidates, Business Strategy, Economy, Innovation, Investment, Stock Market, Twitter, United States, US Economy, Wall Street | Leave a comment

Passive Funds Are Just Free-Riding Active Funds

If you and your neighbor have the same income and expenses except that he rides the bus for free every day while you pay a fare, he will be richer than you. Until recently, this was obvious: the neighbor is … Continue reading

Posted in Economy, Innovation, Investment, Society, Stock Market, United States, US Economy, Wall Street | Leave a comment

On White Collar Prosecutions, with Jesse Eisinger

“The government no longer has the will and ability to prosecute top corporate executives across a wide variety of major industries.”______ Jesse Eisinger Jesse Eisinger is a senior reporter at ProPublica and a former reporter at the Wall Street Journal. … Continue reading

Posted in 2016 Candidates, Corruption, Cronyism, Economy, Podcast, Politics, Society, US Economy, Wall Street | Leave a comment

New York, Two States of Mind

Is New York City helping or holding back Upstate New York? Towards the end of times, when all of mankind congregates in a final purgatory to draw the main lessons of this grand adventure called Life, there will be special attention … Continue reading

Posted in Demography, Dependency Ratio, Depopulation, Economy, Manhattan, New York, Taxation, Wall Street | Leave a comment

The Bridge from Laissez-Faire to Socialism

Cronyism remains unchecked in the world’s largest economy. We might object to the phrase crony capitalism for two reasons: First, because cronyism is in some ways the antithesis of capitalism. The freedom to compete and the freedom to fail that are central tenets of capitalism … Continue reading

Posted in 2016 Candidates, BRIC countries, Communism, Corruption, Cronyism, Economy, Emerging Markets, Society, United States, Wall Street | Leave a comment

The Way Forward for Hedge Funds – 2

In the first installment, I made a case that hedge funds can regain their popularity by reverting to their initial mandate which was to be hedged. I examine here how such a model hedge fund would have performed in the past … Continue reading

Posted in Economy, Hedge Funds, Innovation, Investment, Stock Market, United States, Wall Street

The Way Forward for Hedge Funds – 1

Hedge funds should go back to hedging and also consider lower fees. Equity hedge funds are under tremendous pressure, having underperformed their benchmark in nearly every year since 2008. But can it really be true that the average equity hedge fund is no … Continue reading

Posted in Economy, Hedge Funds, Innovation, Investment, Stock Market, Taxation, United States, Wall Street

It’s the Demography, Stupid

11 November 2014 (See also the post Demography Charts – 1) America’s anemic recovery can be explained by its slowing demographics. Politicians tend to overstate the positive impact of their policies on the economy and to also exaggerate the negative impact … Continue reading

Posted in Analysis and Opinion, Apple, Demography, Dependency Ratio, Economy, Europe, Google, Japan, Nokia, Oil, United States, US Economy, Wall Street

Market Is Approaching Reversal

Although technical analysis has severe limitations, it can be useful for near-term market forecasts. Judging from the chart of the S&P 500, a simple ascending channel seems to have worked well to predict index reversals between 2003 and 2007. That … Continue reading

Posted in Analysis and Opinion, Economy, Stock Market, United States, US Economy, Wall Street