I’ve heard enough. I can help you. I’ve now attended or listened to more than a dozen “second half outlook” presentations from both the sell-side and several asset management shops. Nobody ever knows what’s going to happen, but its pretty awesome how everyone’s guesses coalesce into a giant miasma of shared expectations. The conventional wisdom…

Some thoughts on the equity long / short hedge fund segment from reader and industry insider Jaeson Dubrovay. Jaeson has been involved with the hedge fund world since 1990, here’s why he believes the bloom is off the rose for ELS funds and what the challenges are going forward. Enjoy!  – Josh *** Equity Long…

If you had twenty five years left to live, how much time would you spend worrying about the daily ups and downs of the stock market? If you had twenty years left to live, how much time would you spend trying to time the stock markets and the economy and other things that are both…

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“I think these funds clearly have the letters FAD written on their foreheads”

Greg Mankiw, a professor of economics at Harvard whose insights and writing I appreciate a great deal, attempted to answer the question of whether “a little gold” makes sense in a portfolio. By concluding “Sure, keep a little…” he makes a common error. In my opinion, there is only one answer to the question of…

The debt ceiling debate resumes headed into this November for some unknown reason that makes sense to very few educated people. In the meantime, Obama’s going to make another push for infrastructure spending, R&D spending and the other things he campaigned based on – the stuff congress won’t let him enact in real life. He…

This is an ongoing earnings season phenomenon that many have picked up on but David Einhorn expresses it best in his quarterly letter to shareholders (via ValueWalk): During the first few years of the market recovery, the formula for higher stock prices was “beat estimates and raise guidance.” Not anymore. Now it’s enough to beat…

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