02/17/2021
Today Rafael Resendes & Daniel Obrycki, RealClearMarkets "All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." Arthur Schopenhauer Our last column, Yes Virginia, Valuation Matters, caused a bit of controversy on Twitterregarding the nature of Applied Finance's Quantitative Valuation™ research and investment approach versus that espoused by the quantitative value crowd. It is a recurring theme in the marketplace that our Quantitative Valuation™ way of investing is confused with quantitative value investing, something we work diligently to avoid. While... |
William Watts, MarketWatch Rising yields, widening credit spreads and rising dollar would spell trouble: Jefferies |
William Baldwin, Forbes In a new sector, new ways of doing things emerge. |
Binyamin Appelbaum, The New York Times Democrats need to shelve the memory of stagflation. |
John Tamny, RealClearMarkets Fox Business Channel anchor David Asman was a columnist for the Wall Street Journal's legendary editorial page back in the early 1990s. This was when the old Soviet Union thankfully dissolved. At the time of dissolution, Asman was reporting and commentating from St. Petersburg. In one of his dispatches, he noted the existence of all manner of street performers in the city's squares. Asman observed that they politely nodded if rubles were dropped in their hats, but a dollar contribution was cause for stopping whatever they were doing in order to personally thank the individual who parted with... |
Ryan Cooper, The Week Official site of The Week Magazine, offering commentary and analysis of the day's breaking news and current events as well as arts, entertainment, people and gossip, and political cartoons. |
Robert Wright, American Institute for Economic Research America's biggest problem is ignorance of proven precepts of political economy. I don't mean fancy econometric techniques or models full of malarkey (i.e., much of professional economics), I mean the basic, irrefutable concepts and empirical regularities sketched below. If those had been widely understood and applied a year ago, states would not have locked down in response to a highly contagious virus deadly only to a relatively small and easily identified segment of the population. All the costs associated with lockdowns would have been avoided and the number of excess deaths would have... |
Benjamin Zycher, RCM In one of the last executive actions of the Trump administration, the Office of the Comptroller of the Currency published an important final "Fair Access to Financial Services" rule requiring that large banks and federal savings associations make lending decisions based upon "individualized, quantitative risk-based analysis and management of customer risk." Translation: The lenders are not to make such decisions on the basis of the political unpopularity (among leftists) of certain businesses, obvious examples of which are producers of fossil fuels or firearms, operators of for-profit... |
Jordan Weissmann, Slate It turns out the pandemic may not have been the budget wrecker everyone feared. |
Matt Egan, CNN Even mighty Texas, the energy powerhouse of America, is feeling the wrath of Mother Nature. |
Stephen Moore, The Hill Many states are at a dangerous point of running out of energy at any price to meet demand as the cold spell rolls on. |
Frank Gunter, Washington Examiner Among the challenges facing the new administration in Washington, one of the most important is to reduce or even eliminate poverty. But if policy initiatives are based on poverty myths rather than reality, not only are the chances of success reduced, but also some policies may unintentionally make poverty worse. |
Joseph Calhoun, Alhambra Investments This is a holiday-shortened week in the US but there is some important data on tap. Retail sales are expected to show a month-to-month rise for the first time since September. Year-over-year number? |
Joanna Payne, Charles Schwab Scrutinizing your trading losses can help you realize more gains. |
Brian Wesbury, First Trust Advisors |
Liz Ann Sonders, Charles Schwab As quickly as it soared to the moon, GameStop came back down to earth; but the lessons learned are key to turning day trading speculators into longer-term investors. |
Various, Research Affiliates By buying or overweighting characteristics-based factor exposure and selling or underweighting beta-based factor exposure, investors can position their portfolios to reap the rewards of factor investing while bearing less risk. |
David Kastner, Charles Schwab The financial sector has struggled as of late, but we think this is a potential opportunity for investors. |
Carrie Schwab-Pomerantz, CS Take a lump sum or lifetime income from my pension? The best choice for you depends on your individual circumstances. |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Rep. Tom McClintock, WE We are now nearly a year into the most self-destructive social experiment in the recorded history of human civilization. |
Paul Davidson, USA Today Congress should lower the top-income threshold for married couples to receive a $2,800 stimulus check to $100,000 from $150,000 because it would help the vast majority of households make ends meet at significantly less cost to the federal government, according to an analysis by Morning Consult. |
Glenn Hubbard, The Hill Federal assistance to bridges can once again foster prosperity for many Americans, while allowing flexibility across the nation. That assistance offers a rich alternative for "building back better." |
Joakim Book, Am. Inst. for Econ. Research David Attenborough, a well-known BBC film presenter and climate activist, has a fantastic quote about growth and economists. It's so captivating that I suspect it lays at the foundation for ridiculing every sensible environmental comment by economists. The quote reads: "Anyone who thinks that you can have infinite growth in a finite environment is either a madman or an economist." |
Steven Malanga, City Journal The Internet giant has been a key driver of job growth and productivity during the pandemic, but unionization efforts could undermine its e-commerce model. |
Paul La Monica, CNN Move over, Robinhood, here comes Goldman Sachs. |
Jeffrey Tucker, AIER Maybe widespread ownership and use of Bitcoin and other cryptos can make a cultural and economic contribution to converting us from profligate to thrifty in the way our great-great grandparents could celebrate. |
Willem H. Buiter, Project Syndicate Notwithstanding the recent spectacular surge in its price, Bitcoin will remain an asset without intrinsic value whose market value can be anything or nothing. Only those with healthy risk appetites and a robust capacity to absorb losses should consider investing in it. |
Ezra Klein, The New York Times If progressivism can't work there, why should the country believe it can work anywhere else? |
Vauhini Vara, The Atlantic Understanding America in the giant company's shadow |
Scott Beyer & Ethan Finlan, City Journal President Biden's "Buy American" commitments will conflict with his goal of improving mass transit. |
Julia Horowitz, CNN Ken Goldin has sold sports trading cards for four decades. What happened earlier this month still shocked him. |
Jonathan Lesser, City Journal Texas's disastrous experience is a cautionary tale for the northeast. |
Jamie Powell, FT Alphaville JP Morgan analyst makes a good case. |
Eddy Elfenbein, Crossing Wall Str/eet What Twitter polls show about taxation. |
J.C. Parets, All Star Charts There's nothing wrong with betting on the next direction of a stock, or the market in general. But let's be responsible about admitting that we're wrong, when we get it wrong. |
Shirin Ghaffary & Alex Kantrowitz, Vox The inside story behind Google's famous mantra, according to a key former executive. |
John Cochrane, The Grumpy Economist Biden's plan would set out $160 billion for a nationwide vaccine program that would help state and local governments get the vaccine into people's arms. That's almost exactly $500 per American. Really? |
Michael Johnston, Evergreen Gavekal Until recently, the concept of taking someone or something viral was mostly reserved for content creators and influencers on platforms such as YouTube, TikTok, Twitter, Instagram, etc. However, last month, the phenomenon took on new life, as millions of users on Reddit and Discord effectively took this playbook to the stock market. |
|
|
|
|
