Global Market Commentary, Analysis and Investments
If there are two things that you can count on, it is that you have got to be pretty quick to get the last piece of pizza before I snag it, and that I am never remiss in telling people that buying bonds at these insanely-low yields is the Exact Wrong Thing (EWT) to do.
Unfortunately, my latest “student� was the cashier at the grocery store, who, it turns out, knows absolutely squat about what bonds are, although she admits that she has heard the word before.
[Read more...]The Dow went up 10 points yesterday. Gold went down $10.
Noise. Forget about it.
But wait…maybe this noise is whispering to us. “Watch out!â€� it seems to say.
Surveys show investor sentiment more bullish than it has been at any time since ’06/’07 – that is, since the peak of the bubble years.
[Read more...]Let’s see, what happened this summer? Easy question. The recovery went missing.
Ben Bernanke said so last week…or almost. He noted that the economy wasn’t quite as spiffy as he had hoped and that the Fed stands ready, willing, and able to provide more help.
The stock market liked the news. After falling for many days, it rallied 164 points on Friday. Gold was flat.
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Bond Guru Still Likes Bonds
He has what seems like the easiest job in the world. He manages $4 billion of assets on which he earns fees. And all he does is buy US Treasuries.
His name is Van Hoisington. No man has been more right about interest rates in the last two decades. Van thought they would go down — and has thought so since 1990. So they have. As they fell, the value of Van’s bonds rose. Since he’s been right, his track record is ridiculously good. He has posted a 9.1% annualized return over the last ten years…in a bond fund!
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