Peter Thiel Struggles Against Market Rally

Peter Thiel isn’t as widely followed as some other hedge fund managers. One possible explanation may be his hedge fund, Clarium Capital, employs a macro strategies which are more complex and opaque to individual investors. Nevertheless, I have always found his views on the broader economy and global situation to be insightful.
Today’s Wall Street Journal [...]


Markets Giving All Clear Signal?

That is the main question of the moment and I direct readers to two viewpoints on the matter:

Legg Mason’s Bill Miller: “The worst is over.” (Bloomberg)
Eric Sprott: “We are now in the early stages of a depression.” (HT Zero Hedge)

Bill Miller is the famous (alledged) value investor who beat the S&P 500 for 15 straight [...]

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Barron’s Discusses Random Walks With Burton Malkiel

Two interesting articles caught my eye in Barron’s. I’ll discuss the first today and follow up with another post on the second.
This week’s issue has an interview with Burton Malkiel, the renowned author of A Random Walk Down Wall Street, and a main progenitor of the efficient market theory. Despite the recent events of the past [...]

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PIMCO Big-Wigs Say Unemployment Worse Than Appearances, Economy Altered

Bill Gross and Mohamed El-Erian, the top honchos at PIMCO along with Paul McCulley, see dim prospects for the US economy.
Mohamed El-Erian is CEO and co-chief investor for PIMCO, after Bill Gross and company lured him back from Harvard’s endowment fund. He is also the author of When Markets Collide, a macro look at the [...]

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James Grant: “Nothing Is Inherently Safe.”

James Grant of Grant’s Interest Rate Observer put in an extended appearance on Bloomberg’s Taking Stock program this afternoon. You can find the clip here.
With the recent recovery in credit markets, Grant is pulling back some from his “supercredit” portfolio, recommended in December 2008. He also sees currency debasement as an inevitability, due to the [...]

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Dennis Gartman Idiotically Insults Buffett

I have long held the view that a person’s judgment or criticism is more a reflection of that person than it is a reflection on the subject being criticized. My jury on Dennis Gartman, of The Gartman Letter and CNBC/Bloomberg fame, had been out until this piece on the Wall Street Journal website:
Gartman: Warren Buffett Is [...]