…1988 (as far back as the Standard & Poor’s website provides). Over the past 25 years, earnings have grown substantially from $5.48 per share to $29.45 per share most recently…
…it looks like the bubble is back, but really, we’re nowhere near the peak valuations of the late 1990s. At the high (using annual data), the price-to-book ratio for the…
…the bonds decreased, the returns increased, as did the volatility, albeit marginally (except for from A to BBB, but that’s probably a statistical anomaly. In any case, the risk-return ratio…
…0.12 percent of the fund on December 31st. If they did nothing (again, unlikely), the position would now be worth $4.8 million, or 2.1 percent of the fund. I called…
…I don’t have access to Platinum Grove’s actual performance record, it’s hard to draw meaningful conclusions. The point, though, is to simply say that being a brilliant academic isn’t enough….
…net asset value after the market closes (mutual funds). When it does happen, like with the mortgage-bonds, the impact is relatively small. Just as you would expect, we’re not flip-floppers!…
…the substantial gains, volatility for the S&P 500 has been uncharacteristically low. Naturally, I’m appreciative that we’ve all been able to enjoy a straight-up market, but I’m also realistic and…
…lowered rates. When they were buying, they created demand, which probably pushed prices up, which lowered yields. In theory, the absence of the Fed and their buying could lower prices,…
…4.3 percent per year. That’s a lot per annum, but cumulatively, it’s really crippling: the difference between almost doubling and more than tripling your money. It occurred to me that…
…of the principal is adjusted upwards by two percent to $1,020. Because the principal is now higher, the five percent coupon is higher: $1,020 * 5% = $51. At the…
