Kass: "Downside Risk Dwarfs Upside Reward"

"I worship not at the altar of price momentum but rather at the altar of security analysis and margin of safety. This analysis suggests that the downside risks dwarf upside rewards. After much thought I have liquidated all of my long positions and I have a large net short exposure now."

  • Jul 24, 2018 8:37 AM

Jim Quinn: A Nation Built On Lies

"The societal hollowness created by those pushing the delusion of a materialistic American Dream based on an ever-growing pyramid of debt has left a society morally deadened, psychologically damaged, living lives based on deception, and willfully ignorant of the truth."

  • Jul 9, 2018 4:25 PM

Everyone's Got A Plan...

“Wall Street is a street with a river at one end and a graveyard at the other.” – Fred Schwed, Jr.

  • Jun 28, 2018 10:25 AM

Risk Happens Fast

"The possibilities of policy errors (fiscal and monetary) are multiplying...Hastily crafted policy that conflates politics is dangerous in a flat and networked world"

  • Jun 20, 2018 8:35 AM

It's Not Stagflation... It's Inflationary Impoverishment

The idea that stagflation exists as an economic phenomenon is only really true for neo-Keynesians, who view inflation as economically stimulative, and its failure to stimulate perplexing. In this sense it is frequently applied to conditions today...

  • May 20, 2018 7:45 PM

Powell Has A Plan

"Powell has got a plan, and his sticking to it so vehemently will ultimately be a mistake...Powell’s reaction function is much, much less sensitive to short-term market and economic indicator fluctuations than previous Fed Chairs."

  • May 2, 2018 2:33 PM

The Next Crash: Making The Fed An Instrument For Disaster

Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It’s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer.

  • Apr 27, 2018 4:04 PM