Trump is Elected

There is heavy speculation on the election’s impact.

This will probably be like most political outcomes: It is not going to be as BAD as one side thinks. It is not going to be as GOOD as the other side thinks.

Right now it is still difficult to sort out. Trump claims he wants more infrastructure spending. This is something Democrats have been pushing for a long time. On the other hand, he wants immigration reform that is ...

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Greece Not a Surprise to Some

Three days ago Greece seemed split on the referendum. The results, however, showed the “No’s” won by a wide margin. On July 4th I was told, by someone who is pretty knowledgeable about history, that the Greeks would probably vote “No.”

His reason was that “No” is the same response the Greeks gave Mussolini at the start of WW2 – another time in history when the Greeks felt bullied by larger European neighbors. The connection seems ...

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Hedge Funds Continue to Lose to the Index

Many call it Warren Buffett’s bet against hedge funds. 

Keep in mind the bet doesn’t pit Warren Buffett’s skill against other hedge fund managers. Buffett simply picked the world’s simplest index fund and bet its performance against hedge funds for a 10 year time period.

So what is the bet really? It isn’t Buffett against hedge funds. Rather, it is a challenge to hedge funds to prove aren’t utterly worthless……and they are losing.

There has been a ...

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What if Summers had Become Fed Chairman?

What just happened would not have happened. The Fed, which is charged with regulating banks, just told Citigroup they needed to be more stable before shelling out money to shareholders.

This never would have happened had Larry Summers become chairman of the Federal Reserve. There is absolutely no way he would have signed off on tougher requirements for Citigroup. Let’s all breath another sigh of ...

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Crimea and Putin Drag On

Didn’t I say that you can’t predict the market if you can’t predict what effects the market?

I haven’t written anything on the Crimea yet. In the end it will probably pass and be quickly forgotten. Remember the Japan earthquake and the impact it had on the markets?

Crimea provides a great example of the unpredictability of the markets. Can anyone predict what Putin will do? Sometimes he acts like a world leader. Sometimes he acts like ...

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Mt. Gox is Toast?

That was quick. The biggest bitcoin exchange is apparently planning for bankruptcy (click here).

The die hard Bitcoin proponents are arguing that it isn’t a problem with Bitcoin…it is just a problem with that particular exchange.

That’s not entirely accurate. The way Bitcoin is designed, it inherently lends itself to all sorts of problems such as this. I can’t possibly see it becoming a stable and reliable store of ...

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