The Number One Threat to the Market

I have a couple of quotes in the New York Post this morning about what might represent the biggest threat to the stock market this month. I view Syria as a side show and I do not believe “valuations” are too high or represent a threat of their own volition. I also think the debt ceiling…

Charlie’s Secret

Charlie Munger is Warren Buffett’s co-chairman of Berkshire Hathaway and an investing genius in his own right. He’s almost 90, six years older than Buffett, but every bit as sharp and cagey even in his advanced age. And also, he kicks the shit out of all you momentum investor hotshots, what with your risk parities…

Tramp Stamp

From wknd notes by Eric Peters: “I need a tattoo, so I won’t forget,” said the CIO. “Because its too easy to get lost in the details, lose the big picture.” So we breezed past today’s distractions: Syria, Summers, debt ceilings. “I’m thinking gothic font, simple, black, bold,” he continued. “And god I wish my…

Cliff Asness Defines Alpha

Cliff Asness is one of the most important thinkers and money managers in the business today – but I must admit I found myself utterly confounded by his Barron’s interview this weekend. There were enough inherent contradictions and non-sequiturs in the discussion that I put the iPad down and scratched my head more than once…

Acronym Anxiety

I chalk this bullshit up to the late August nothing-to-do-ness that always takes hold of Wall Street. The second-stringers are manning the desks and those forced to stick around and write stuff begin to lose their minds in the surreal isolation of it all… Here’s John Authers at the Financial Times: Acronym anxiety is here….

Wall Street Knows a Bad Trade When it Sees One

Wall Streeters are conditioned to know a bad trade when they see one. They tend to view most life decisions through the prism of risk and reward, just as they do buy and sell decisions each day at the office. In today’s New York Post, we learn that at least one political action committee made…

This Week on TRB

Here were the most read posts on TRB this week, in case you missed them: Chart o’ the Day: Significance of 90% Down Days The Financial Media is not a toy to be used and discarded and then European stocks began to crush the S&P God hasn’t lost his sense of humor…