November 2013

On spinning one’s wheels

I talked to a friend of mine this past week who’s nailed just about all of the hottest trades and the best-performing stocks of the year so far. But his returns are far below what you would think they’d be given the names he’s involved with (LNKD, FB, TSLA, GMCR, Z, CELG etc). He thinks…

This Week on TRB

Here were the most read posts on TRB this week, in case you missed them: Hugh Hendry Throws in the Bearish Towel Now what? The Highest Conviction Game Editor’s Note  One for the scrap book  Cartoon by Adam Zygus, the Buffalo News

Not a Bubble, Just the Old Normal

Watch as Eric D. Nelson, CFA, of Servo Wealth Management demolishes the bubble meme in a new post at his blog this week… Probably the best method of “bubble detection”, to the extent such a thing is even possible, is to simply observe an investment’s recent past performance history to measure how far in excess…

Howard Marks on the new Risky Business

This week’s must-read is the latest memo from Oaktree’s Howard Marks, in which the investing legend ruminates on the current state of risky behavior in the markets. There is a great deal of nuance in his analysis, rather than the more typical “THIS IS 2007″ or “NO, THIS IS NOT 2007″ you’ll find everywhere else….

My Favorite Chart on Earth, Updated

My pal Jeff Hirsh from the Stock Trader’s Almanac has gotten around to updating what I call My Favorite Chart on Earth. The basic idea behind this is that major wars are funded with massive government spending and this money always finds its way into the economy eventually, causing prices and wages to rise along…

Happy Thanksgiving from TRB

Each year on Thanksgiving I take stock of all the things in life I have to be thankful for. And when my mind turns to this subject, I always end up thinking of you – my readers, friends and supporters here at The Reformed Broker blog. Thank you for reading, reacting and sharing my work…