Never Say Never
Bob Farrell’s 10 Market Rules for Investing is a timeless list of wisdom which immortalized the strategist. After studying under Benjamin Graham and David Dodd at Columbia, Farrell worked at Merrill Lynch for 45 years and eventually became their Chief Market...Uncertainty in the Garden of Nemesis: Markets, Archimedes’ Circles, and Hegelian Opera
Archimedes’ Circles, applied to economic stability. Click for animation. The year was 212 BCE. Archimedes was contemplating, and as he turned over his shoulder, he saw a legionnaire Roman ready to end his life. “Do not disturb my circles,” he shouted....Canceling the Noise; Not by Bread Alone Part XI
First a quick reminder about statistical errors: Type I error implies the rejection of a hypothesis that is true. Example: Nowadays, Google is a cheap stock. If the hypothesis is true and we reject it, then the loss is the opportunity to profit from a cheap valuation,...When the Streams and Rivers of History Meet the Ocean of Changes: Market Reflections
With little doubt, we are at a historical inflection point from a geopolitical and geoeconomic perspective. The influence of Russia is shrinking (especially in the energy sector), Erdogan in Turkey plays a uniquely ambiguous game, the EU is still searching for a...Downturn: Monetary Regimes, Disintermediation, and Financial Markets
Many commentators have been discussing lately the similarities between the 1970s and the inflationary pressures of today. Others have expanded their analysis by incorporating stagflationary issues into their comments. We certainly can see some similarities to the...Sign Up for Our Publications
