Passing through Dallas, Texas, on the way to a previous Mad Hedge Strategy Luncheon a few years ago, I couldn’t help but remember the assassination of President John F. Kennedy on November 22, 1963, some 57 years ago today. The tragedy offers valuable lessons for today’s traders, although we have to travel a somewhat circuitous […]
Until the 19th century, children used to provide income and security for their parents as they worked on the family farm. That dynamic continued when industrialization brought families into the cities and kids into the factories. Since then, children have been a great short. A hundred years of state-mandated education and child labor laws increased […]
“My experience in business helps me as an investor, and my investment experience makes me a better businessman,” said Oracle of Omaha, Warren Buffett.
I knew the letter from the IRS sitting in my mailbox was bad news just from the color of the paper. It was not light green, the color of a refund check from the United States Treasury. Instead, it was white, warning that it contained some sort of demand, audit notice, or threatened legal action. […]
When asked about the urban legend that the vaults at Fort Knox are empty, and that the Fed has no gold, former Federal Reserve Chairman Ben Bernanke responded, “I’ve been to the basement of the New York Fed. The gold is there. I’ve seen it.”
“You always sound smarter when you’re a bear than when you’re a bull,” said Adam Parker formerly of Morgan Stanley.
“If there were no way to short stocks, the probability of stock market bubbles would be much greater,” said hedge fund manager Bill Ackman of Pershing Square.
I can’t tell you how many times I have been woken up in the middle of the night by an investor who was sleepless over a position that was going the wrong way. Gold was down $50, the Euro was spiking two cents, or the stock market was enduring one of its periodic heart […]
“Forget what you know about buying fair businesses at wonderful prices. Instead, buy wonderful business at fair prices,” said Oracle of Omaha, Warren Buffett.
“There is tremendous amounts of money sitting on the sidelines. There is enormous M&A activity. The greatest thinkers in the corporate world are saying that it is cheaper to buy than to build. This says to me that the stock market still has value in it. We’re a long way from expensive,” said Milton Ezrati, […]
