Gone Fishin’ Portfolio Posts Incorrect 2013 Numbers

In a previous post I speculated as to how the Gone Fishin’ Portfolio guys would react given how poorly their portfolio did in 2013.

I notice on their home page they now have a long explanation about asset allocation, diversification, etc, which is about half correct and half wrong. This is one of my major problems with them. They mix in deceptive principles like survivorhsip bias along with solid principles like diversification.

But more curious to me is that ...

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Ordering Food at Chili’s – Are you Serious?

Did Emanuel Cleaver just complain to Janet Yellen about how you order food at Chili’s?

Why yes he did. Apparently Chili’s has a system where you sit at your table and order food over an intercom rather than having a waiter come to your table. Cleaver thinks that this is an example of why we have high unemployment.

First there is the obvious issue of technology and change. It is a big mistake to ...

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Bitcoin is our Cosmo.com

I can’t find a serious economist that thinks Bitcoin is going to work.

I can find a lot of programmer-libertarians and end-of-days prepper that think it is the wave of the future. Like I said, I can’t find a serious economist that thinks it will work.

Problems are beginning and are starting to persist. Prices plunged recently.

Who knows if Bitcoin prices will go back up in the short term, and who knows ...

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Coinye / Kanye – the Death Knell of Bitcoin

This is hilarious. Some new digital cryptocurrency has sprung up, called Coinye, in jest after Kanye West. West’s lawyers are threatening a lawsuit. Click here for an article.

The possible lawsuit is somewhat comical, but there are much broader implications here.

Bitcoin already has competitors, and more are popping up every day. Yes, other people can make digital currencies that will compete. It is similar to the way competing banks had ...

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Yellen is in

Janet Yellen was confirmed today as Chariman of the Federal Reserve.

Say what you want about her being too liberal — or whatever the criticism is — there are two things that I believe are important to point out.

1. This is following a long line of non-partisan appointments. Greenspan with Reagan, which was continued by Clinton. Bernanke (the Democrat) who was appointed by Bush and continued by Obama. And now Yellen. More than anything, they simply seem to ...

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Giving up on Emerging Markets in 2014?

Investors are starting to capitulate with foreign emerging markets investments.

In 2009, the story was that emerging markets would obviously do better than the US. There was so much more room for them to grow….and China was buying all our debt.  Soon they would own us.

By Mid 2013, the story had changed. Emerging markets had underperformed the US for several years. Now might be a buying opportunity! Valuations looked good.

Now at the beginning of 2014, investors are starting ...

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Indexing – The Media Catches up with 1932

If you read the financial media, you’ll bump into coverage of the benefits of index funds or passive funds.

They always make it sound like it is a major breakthrough.  ALERT: We have found some evidence that index funds do better than your expert investment manager.

In other words, the experts, to whom you might pay a lot of money to manage your assets, generally do worse than the simple averages.

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Consolidation and Shrinking in Financial Markets

Here is an article about the “shrinking” equity market.

The only point Michael Santoli is missing is the underlying reason that all of this is happening.  There are a lot of explanations out there. “Corportations are awash in cash,” there is a “Buyback binge,” etc. etc. but these just tell what is happening. They don’t dig into why it is happening.

As I have written so many times before – there is ...

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Digital Gold is not Gold, By Definitioin

The Bitcoin phenomenon continues. Apparently Ron Paul has stated it could “destroy the dollar.” I don’t put too much credibility into media reported. You’d think a quote, by definition, is exactly what someone said. Not so with the media. They have an amazing ability to make up quotes.

Regardless of what Ron Paul said or did not say, there are other out there who definitely do believe Bitcoin will destroy ...

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