November 2013

Update: Intentionally Dumb 3D Printer Trade – One Year Later

It’s a year since I explained my reckless, intentionally dumb 3D printer trade. As I explained back in November of 2012: I own both of the 3-D printer stocks in my personal account in small enough amounts that they can’t hurt me but large enough amounts that, if I’m right, their rise will be meaningful….

IPO Flipping is the New Source of Hedge Fund Alpha

“I’ve been doing fifty million a year in commission business with your desk, and believe me, it’s not because I care what your chief strategist’s research reports say. You’re not allowed to give me ‘color’ on the trading activity of others anymore because your line’s recorded. You’re also not able to create products that will…

What Does the Dove Say?

Janet Yellen speaks before the Senate Banking Committee this morning at 10am. She’s released her brief address beforehand and will probably be answering a wealth of questions, especially on the idea of the taper. Livestream here on C-SPAN’s site Here’s BofA Merrill’s US Economics team with a preview: The taper question, ultimately Yellen states that…

Hot Links: According to Internet Math…

Stuff I’m Reading this Morning… Highest conviction hedge fund exposure by asset class.  (ZeroHedge) Jobless Claims drop for fifth straight week.  (USAToday) Someone gave JPMorgan the idea that America was interested in social engagement with it. What a solipsistic bubble of ignorance these people have constructed for themselves to live in.  (Bloomberg) and (BusinessInsider) Five…

Hot Links: Worst of Both Worlds

Stuff I’m Reading this Morning… Investing advice for the average investor from one of history’s most above-average investors – here’s what Ray Dalio thinks you should do:  (TheTell) Everybody’s re-doing their ladders to get shorter:  “Investors yanked $61.8 billion from intermediate-maturity debt funds in the first nine months of the year, while pouring $46.2 billion into…