Few investors today would consider investing in long-term Treasury bonds. The yield curve, which measures the spread between interest rates for short-term and long-term bonds, is not as flat as…
Shining a Light on Dark Pools
“Unless there are some changes, there’s going to be a massive crash, a flash crash times ten.” …
Good Market Rigging vs. Bad Market Rigging
“The markets are rigged. … These firms make their money by front-running trades. They’re using their speed advantage to buy shares first and then selling them back at a higher…
Think Like a Rat
Experiments show that if you put rats in a maze and give them a jolt of electricity when they go the wrong way, they will eventually go the right way.…
Fundamentally Flawed
Imagine if the outcome of a football game depended more on the weather than on the talent of the players. Weather, indeed, can have an impact and should, but its…
We Told You So
Sometimes the best investment advice is to do the opposite of what everyone else is doing. When the stock market was in free fall during the financial crisis, many investors…
No Records This Month
Markets go up and markets go down, so maybe it’s not surprising that January’s stock market performance has less exuberance to it than the performance to which we’ve become accustomed.…
Bully for 2013 … But What About 2014?
2013 markets were full of bull. The economy continued to sputter along, growing at about 2%, unemployment remained high and corporate profits were mediocre. Yet the S&P 500 index rose…
When Common Sense Is Senseless
What was I thinking? Over the past couple of years, I’ve preached caution. Corporate profits were down and unemployment was up. The economy wasn’t growing, but the federal debt was. …