…work by owning for some time. In the case of private markets, I’ve come to believe that one of their big selling points is pretty bogus. The selling point in…
…about it, regardless of your answer. In simple terms, an efficient market quickly incorporates news and information into prices. It’s easy to find examples of market inefficiency, like when companies…
…market efficiency, we can stop using Palm’s stub stock trading larger than 3Com, its parent company in the last 1990s, and just say ‘GameStop’ to the pure market efficiency theorists….
…of an option over time and has come to serve as the foundation for derivatives pricing, and is commonly used to measure and transfer risk. To make a long story…
…have tariffs on aluminum and steel from Canada, Mexico, and the European Union, we all know that the primary combatant in this altercation is China. Even more interesting, perhaps, is…
A recent examination of hedge funds by the Securities and Exchange Commission (SEC) found a variety of deficiencies in almost half of the firms examined, according to the Wall Street…
…bad. So far this year, for example, the worst performing asset class that we invest in is the Russell Microcap index and it is down -6.35 percent through yesterday. In…
…that it would stoke inflation. While that didn’t come to pass, it’s still a hot issue because the Fed still owns those bonds and the process of unwinding those purchases…
…than the largest allocation of any single pension, but still small compared to the overall value of emerging market stocks. That may reflect macro momentum traders flowing into what’s hot,…
Last week, I wrote that REITs and TIPs are relatively pedestrian ‘alternatives’ because they are so commonly used. TIPS, which stands for Treasury Inflation Protected Security, are issued by the…
