Sudden Debt

Warren Buffet is unquestionably the greatest value investor of all time. Yet, he may have unwittingly recommended the worst investment strat...

What made America truly great was that from its start it took tens of millions of poor, underprivileged immigrants and transformed them into...

 Algorithmic trading now accounts for 60-80% of all equity volume in the US.  Astonishing. I wonder... since algo trading is basically a tre...

 Mr. Warsh has just been nominated as Fed Chairman by President Trump.  If he acts on his old convictions, he will be an excellent choice, i...

 As we bid 2025 adieu, here is a list of what I think were the major themes of the past year and my views for the future. Donald Trump becam...

  Banks are repeatedly using the Fed's Standing Repo Facility (SRF)  recently, ie borrowing overnight funds directly from the Fed agains...

 The title may sound poetic but the subject is prosaic :) I was curious at the large earnings upside surprise announced by Micron Technologi...

Despite recent Fed rate cuts, long Treasury bond yields remain stubbornly high.  The chart below shows 3 month Tbill rates (black line) and ...

The news are everywhere, particularly amongst the breathless LinkedIn and Facebook pundits: The recent pivot of BOJ towards higher rates mar...

I readily profess that my working knowledge of computing goes back to FORTRAN IV - yes, punchcards and all! Therefore, today I use computers...