“I can calculate the motions of heavenly bodies, but never the madness of crowds,” said Sir Isaac Newton, the inventor of calculus and discoverer of Newton’s Laws who lost his entire fortune in a 17th century investment scam called “the South Sea Bubble.”
“The time to worry about the Fed is not when they go from accommodative to neutral, it is when they go from neutral to tight,” said Bill Miller, the legendary former chairman and chief investment officer of Legg Mason Capital Management.
One of the most fascinating things I learned when I first joined the equity trading desk at Morgan Stanley during the early 1980s was how to parallel trade. A customer order would come in to buy a million shares of General Motors (GM), and what did the in-house proprietary trading book do immediately? It loaded […]
There is no doubt that the “underground” economy is growing. No, I’m not talking about violent crime, drug dealing, or prostitution. Those are all largely driven by demographics, which right now are at a low ebb. I’m referring to the portion of the economy that the government can’t see and therefore is not counted in […]
“This is an epic bond bubble that we may have just seen the end of, not only here, but in Europe too,” said Peter Boockvar, chief investment officer at Bleakly Financial Group.
“A fool learns from experience. A wise man learns from the experience of others,” said Otto von Bismarck, the first Chancellor of Modern Germany.
