Category Archives: Finance and Markets

Irrational Exuberance Then and Now

Late last year I used Alan Greenspan’s 1996 “Irrational Exuberance” speech as a pivot point to look at the subsequent tech stock bubble blow off and collapse. There’s nothing particularly revealing about that speech, but it makes for an interesting … Continue reading

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Happy Anniversary

The bear market bottom was five years ago today. (No bells rang, but there were some whistles.) At pixel time the S&P500 is up 182% from the intraday bottom. Including dividends, total real return would be about the same. That’s … Continue reading

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On Being Wrong

I’ve been meaning to write about the topic if “being wrong”. There’s some great material out there and it’s a Big Deal. Innovation demands failure. New knowledge requires mistakes, whether personal or, preferably, learned from others’ previous stumbles. Yet admitting … Continue reading

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Hanlon’s Razor – Finance Guy Edition

Or, more specifically, structured products finance guy (*) edition. A new report described by FT Alphaville indicates that folks inside the structured products machine that helped pump up the housing bubble and devastate the economy weren’t evil, they were just … Continue reading

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Stupid things finance people say

h/t FT Alphaville Funny. https://sites.google.com/site/kpinvestingworld/personal-finance/stupid-things-finance-people-say Hard to pick a favorite. For the “we all know a Very Serious Person and have heard him explain his ignorance of social security to us or otherwise smack us upside the head with logical … Continue reading

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Wealth of Nations: One Page, Three Insights

I reached for my hard copy version of Wealth of Nations, hoping to hunt down a certain section. I found the bookmark at page 96. There I found three insights that are still relevant today. 1) I recently posted on … Continue reading

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UnGibberish From Bank of England Governor

Charlie Rose recently hosted the American-accented, Canadian citizen Bank of England Governor, Mark Carney. He was diplomatic and reserved as you’d expect, but much more straightforward than we’re accustomed to with U.S. Fed chairs, especially the so-called Maestro. If you’re … Continue reading

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