Category Archives: Uncategorized

David Letterman to Be Replaced by Janet Yellen

She deserves the job (which is far more influential than running the Fed) because, during the financial crisis, she told her colleagues: “On Wall Street trading floors there is a joke going around: ‘The trouble with bank balance sheets is … Continue reading

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Hedge Fund Madness–Providing a Way to Diversify Out of Sound Investments

On Friday the S&P 500 dropped 1.25% and the NASDAQ fell 2.6%, driven by a sell-off in momentum names such as biotechs, FB, TWTR, AMZN, TSLA, etc.  There was forced selling as leveraged hedge funds and other speculators liquidated positions.  … Continue reading

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The New McCartheyism…or…Silicon Valley’s Black List

In the summer of 2008 a gay friend of mine, who was active in Democratic politics, told me she did not expect Barack Obama to come out in favor of gay marriage because it could blow his chances of winning … Continue reading

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Growth Stocks: What the Big Money Likes

It’s instructive to review the holdings of the smart PM’s at leading mutual fund houses—T Rowe Price, Fidelity, Gamco and Vanguard.  We looked at the top 10 holdings of 18 big-cap growth-oriented funds.  Some themes: A favorite holding is the … Continue reading

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Downside Risk in China

Eight months ago I warned that the China slowdown would be much worse than expected.  I suggested the Wall Street parlor game of China economists daintily trimming their GDP growth estimates from 7.5% to 7.3%, etc. was fairly ridiculous because the … Continue reading

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Racism Inc. Blocks the School House Door; GOP to the Rescue

Tuesday, March 4, 2014 was a seminal day in the history of American social policy.  Seven thousand school kids, mostly black and Hispanic, went to Albany to protest NYC Mayor Bill de Blasio’s attack on the charter schools that were … Continue reading

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Obama Punishes Putin (as reported in the NYT, Mar. 25, 2014)

Obama Vows to “Step on Gas” in Response to Putin Address to Nation Shift in Energy Policy to Increase U.S. Exports, Reduce European Dependence on Russia, Curb Emissions By Keith Beidermeyer and Philip Furlinger WASHINGTON — In a ten minute … Continue reading

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The Mill & Bill War: a Report from the Southern Front

Barack Obama promised to “transform” America by curbing income inequality, and toward that end he declared war on “millionaires and billionaires.”  To gauge his progress in this noble campaign, I departed the frigid climes of the Northeast for Palm Beach, … Continue reading

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The Digital Revolution vs. the Industrial Revolutions

Lately economists have been comparing today’s digital revolution to the first industrial revolution (1790-1860) and the second (1870-1930).  This granular, micro-economic analysis is a welcome respite from the absurdly abstract macro parlor games played by Keynesians and their adversaries.  Three … Continue reading

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The Meaning of Martha Ann

In 1791 in the state of New York was born Martha Ann Rogers, severely deformed.  In the place of arms she had “two diminutive stumps projecting but a few inches from the shoulders.”  She had “but one leg, which was … Continue reading

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