Kyle Bass: Investing For Armageddon
(Via The Pragmatic Capitalist)
(Via The Pragmatic Capitalist)
The great Austrian Economist Ludwig von Mises was the first to pinpoint the cause of the business cycle: overexpansion of credit by the central bank. The difficulty for investors has always been in applying his insight in a pragmatic way…
Before the open today Best Buy (NYSE: BBY), the nation’s largest electronics retailer, announced a pretty good fiscal (ended Aug 26, 2006) second quarter. Same store sales in the United States were up 3.0% in the three months ended Aug…
NOTE: Every week or two I write a Client Note for my clients. For a limited time, I am allowing non-clients to sign up and receive it at the same time as my clients. You can sign up at the top…
Interest rates matter. A lot. Depending on their level, interest rates can stimulate or restrict economic growth. The level of interest rates is also crucial in the valuation of financial assets. Currently there is a lot of disagreement about where…
The government has moved in next door, and it ain’t leaving. You could fight it if you want, but soceity wants change. And government is not going away. – Jeff Immelt, CEO, General Electric, in June at the International Economic…
It is an extraordinary measure for a central bank, particularly the purchase of financial assets to encourage the decline in risk premiums. To be explicit on that point and to extensively influence market interest rates and risk premiums, the Bank…