Hedge fund managers aren’t getting the job done–losing money for investors in back-to-back months for the first time in two years. Last year when the S&P 500 was up over 30%, the average hedge fund made only 9.5%. But don’t worry, the hedge fund managers are just fine. The billions of dollars they’ve pocketed in […]
Investing
Self-Reliance Works
Residents of New York, New Jersey, and Connecticut are the most negative about their state’s taxes according to an April 9, Gallup poll. At least 75% of adults in the New York tri-state region say their state taxes are too high. Half of the residents in Illinois and Connecticut want to move to a different […]
Invest in Texas
I’ve been keenly interested in the investment theme surrounding vigorous competition between states. But when I look at Rhode Island and compare it to Texas or North Dakota, I ask is it even a competition? It’s not even close. The WSJ ran a piece yesterday discussing the pressures put on the infrastructure in Texas from the […]
A Liberal’s View of the World: Demand-Side Economics
I have a hard-time with the economic viewpoint that “two-thirds of the economy is consumer spending.” It’s like saying my household “economy” is based on the bills we pay rather than the work we do. It’s a demand sider’s view of the world. My household economy is about our J-O-B-S. It’s a supply-side view. Liberals […]
A Concise High Frequency Trading Primer
Cato Institute’s Chairman Bob Levy helps demystify a most complex subject. Here are a few thoughts on high frequency trading [HFT] – not a thorough analysis of the problems and solutions, but rather a brief outline to encourage further discussion. What is HFT? The modern version of HFT, as described by Malkiel and Leavitt in an […]
Billionaire Larry Ellison’s $10.5 Million Newport, RI Beechwood Mansion
In 2010, Larry Ellison paid $10.5 million for the Astors’ Beechwood mansion on Bellevue Ave in Newport, RI not far from my office. And based on all of the heavy duty staging, Ford F-150s, and workers (that I can see) $10.5 mil is simply the price for admission. Larry’s going deep on this one. Meanwhile, homes […]
Retail Sales Slowdown Highlights Sluggish Obama Economy
Growth in sales at retail chain stores has fallen again according to an ICSC-Goldman Sachs survey. You can see on the chart below that growth has been slowing for nearly two years and is now well below its historical average.
Main Street Getting What it Deserves
Banks are picking up the pace in lending to those who need it: small businesses and entrepreneurs. The Fed’s mis-guided policies have fattened the coffers of Wall Street and the well connected for far too long. With the end in sight for QE bank lending is beginning to go where it belongs, into the hands […]
How Investor’s Are Getting Strong Armed
You need to sit up and pay attention. As if managing money weren’t hard enough already, there’s some fine print I want you to understand. The issue is whether your investment advisor/broker works under a fiduciary or suitability standard. There’s a big difference between the two. When you work with a broker, he is guided […]
Fewer and Fewer New Highs: Is the Bubble Ready to Pop?
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