Yes, I got it wrong. For six months I was convinced that the market was going lower. And there was no way in hell that I was going to let the market take my money. So I executed the plan I had designed a few years ago. I reduced exposure via shorting overvalued hyped stocks with poor fundamentals and raised cash. I expected the return from the hyped shorts would more than … [Read more...]
Archives for August 2016
Six Ways NIRP Is Economically Negative
If you have any doubt that we’ve wandered into a new and unexplored economic universe, consider this number: $12.6 trillion. That’s the face value of government and corporate bonds currently trading worldwide with nominal yields below zero. Note that word trading. These bonds are in fact trading. Liquidity has not dried up. An active market exists for negative-yield bonds. … [Read more...]
