Sorted Recent Tweets
Miscellaneous “When women stay home and they raise their kids & maintain the household, it is a job. It’s a job of love.” http://t.co/NV1JddlL #wellsaid Apr 13, 2012 @historysquared Have not seen anything definitive on that, but production from fracking decays faster than conventional production. $$ Apr 13, 2012 10 Things I Hate About...
Sorted Weekly Tweets
Valuations High Yield Closed End Funds 68% over NAV, 3% avg premium. Loan Participation CEFs 40% over NAV, -1% avg discount. Conditions r medium hot $$ Apr 07, 2012 Why Stocks Look Too Pricey http://t.co/TWqZzGg3 Various Indicators Suggest the Market Is No Longer a Bargain, at best fairly valued $$ Apr 07, 2012 Contra:...
A Brief Note on Earnings Yields
I debated briefly (between my ears) how to present this data. I settled on this method, because if you want to play with it you can do so without too much trouble. Here are the earnings yields, dividend yields, and payout ratios (what percentage of trailing 12-month earnings have been paid out as dividends) by...
Sorted Weekly Tweets
China China’s first bond default could be good market medicine http://t.co/8ShFniYM Bond trader: “We don’t really have a credit risk culture.” $$ Mar 31, 2012 Is China’s slowdown worse than previously estimated? http://t.co/CkZw8tLK Could b business conditions that are worst since 2009. $$ Mar 31, 2012 China Banks Said to Underestimate Local Government...
Why Auditors Should be Rotated
There is a proposal afoot to mandate auditor rotation every fiver years or so. Some don’t like it. I think it is a great idea, with large benefits relative to the costs. My insights, or lack thereof come from working in life insurance financial reporting in a number of different ways for around 15 years. ...
Why Auditors Should be Rotated
There is a proposal afoot to mandate auditor rotation every fiver years or so. Some don’t like it. I think it is a great idea, with large benefits relative to the costs. My insights, or lack thereof come from working in life insurance financial reporting in a number of different ways for around 15 years. ...
Sorted Weekly Tweets
Central Banking Been using FRED since it was a bulletin board in 1991. Great job, FRED team! http://t.co/kksvwllM Mar 24, 2012 The Villain http://t.co/yYReRb4r On Bernanke, the man who expanded the power of the Fed far beyond constitutional limits, if there r any $$ Mar 24, 2012 Bernanke Sees Need for Higher Household Spending...
Industry Ranks March 2012
I’m working on my quarterly reshaping — where I choose new companies to enter my portfolio. The first part of this is industry analysis. My main industry model is illustrated in the graphic. Green industries are cold. Red industries are hot. If you like to play momentum, look at the red zone, and ask the...
Seven Notes
First, I have some blog news: my hosting provider made me delete 7000 spammers out of my user database. That left me with 200+ users. Inadvertently, in the process, around 70 bona fide users with surnames starting with the letters J-Z got deleted. So, if you got deleted, and have to re-register, my apologies. I...
Dishonest Annuity Advertisement
Those that have read me for a long time know that I am a proponent of immediate annuities. Though they pay a fixed stream of income, they are more useful than bonds, because they provide longevity insurance; they can be tailored to prove an income that you can’t outlive, for you and your spouse. But...
The Best of the Aleph Blog, Part 14
This period of the Aleph Blog covers May through July of 2010. The one big series that I started in that era was “The Education of a Corporate Bond Manager” series. The idea was to describe how a neophyte was thrust into an unusual position and thrived, after some difficulties. The Education of a Corporate...
Sea-level bonds
There is dystopian financial innovation and there is financial innovation for dystopia.Here’s an idea from an Asian Development Bank study into dealing with costs from...
