“Someone once told me time is a flat circle. Everything we’ve ever done or will do, we’re gonna do over and over and over again.” – Detective Rustin Cohle, True Detective That’s the best show of 2014’s writer / creator Nic Pizzolatto borrowing an idea from Nietzsche – specifically the concept of Eternal Return. To hear Nietzsche tell…

We’re through the big week of earnings season and Savita Subramanian’s Equity and Quant Strategy team at BofA Merrill Lynch have some interesting stats for us: 1Q14 Earnings Season: Week 3 With the conclusion of Week 3, 239 companies representing nearly 60% of S&P 500 1Q earnings have now reported. While analysts had gone into…

Via wknd notes by Eric Peters: Meaning: “I want to be long vol on the consensus that Chinese leadership is prescient, omniscient,” said the CIO. “I’m unsatisfied with Wall Street’s facile explanations for the Yuan devaluation.” Thursday’s move lower was the biggest in 5yrs. China’s grumpiest bears expect the worst-case outcome is a soft landing. “There’s…

‘Twas a quiet weekend here on TRB but I wanted to close it out with three great links you may have missed from my fellow bloggers. First, Ben Carlson explains that Buffett’s true advantage doesn’t actually manifest itself until the downside of a full cycle – so judging him during a five year bull market…

The site Guru Focus has a cool interactive feature that lets you pull your mouse across their charts for a better sense of the annual dance between PE ratio, CAPE ratio, interest rates and returns. Below is the chart of implied return from today’s valuation given the following: Shiller P/E Implied Market Return If we…

Fortune Magazine’s cover story on Whole Foods this week rocks. I specifically loved reading about how the company fearlessly challenged the public’s misconceptions and opened a 21,000 square foot store right in the middle of Detroit – where almost half of the population lives below the poverty line. As the CEO of a newly-launched wealth…

Apr. 21, 2014. U.S. President Barack Obama acts out the line “gnashed their terrible teeth” from the children’s book “Where the Wild Things Are” during the 136th annual Easter Egg Roll on the South Lawn of the White House in Washington. (Kevin Lamarque—Reuters) Here were the most read posts on TRB this week, in case you missed…

Let’s say, for argument’s sake, that the prices for startups, venture funds, luxury San Fran / NYC / Hamptons real estate, atrocious contemporary art, tech momentum stocks, the Nasdaq, the Russell 2000 and “cloud plays”  have peaked for the cycle. Let’s also say – again for argument’s sake because who really knows – that a…