I spent the first half of the year and (plenty of last fall) debating the prospects of a Great Rotation with the naysayers. Many of the doubters were those who work in credit trading or bond management – they did not want the good times to end and this bias clearly colored their arguments (and…

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So you want to ride the rallies and sit out the corrections, repeating again and again until your drawdown-free positive returns pile up to the rafters? Be my guest, cowboy. But just know that the list of all-time great market-timers is pitifully short.  Given how many professionals and amateurs attempt to sell tops and buy…

Quick tidbit on China from Eric Peters’s wknd notes: Premier Li made a promise. To offer markets “stable predictability.” Naturally, China’s dictators love stability. Predictability. After all, they’re human. And want what they can’t have. Anyhow, housing prices rose in 69 of 70 Chinese cities, threatening social stability. No surprise. You see, there aren’t enough…

“This is going to be a good cycle to be felt by our people” Shinzo Abe’s Liberal Democrats have taken control of the Upper House today and now control the government. Japan is a one-party ruled democracy now and the nationalist running the place is free and clear to go hard for the long-suffering nation….

The hardest thing to do is to know that today’s uninvestable sectors and geographies and strategies are tomorrow’s huge winners. It has always been thus and every great investor has trained himself to think this way – from  Warren Buffett to Howard Marks to Wilbur Ross. It is in this way that investing bears very…

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