Money’s Many And Problematic Definitions
There’s no escaping the Federal Reserve (Fed) when it comes to investing these days. The Great Financial Crisis (GFC) showed how the movement of …
Read MoreBanks Create Money From Leverage, Not Thin Air
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Not a day goes by without the need for money. Whether buying a cup of coffee, checking your investment portfolio, or contemplating monetary policy, …
Read MorePondering Investment Themes After The Russian Invasion
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So much for returning to normal. I had hoped that easing COVID restrictions would supercharge economic growth this year. Many affected industries and markets …
Read MoreRising Rates And Volatility Might Create Future Opportunities
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Catching inflection points is the holy grail of trading. It’s what makes investing lore. From shorting the 2005 housing boom or skyrocketing technology stocks …
Read MoreInflation: Why Now And Will Bondholders Care?
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As I sat down to write this month’s article, just one topic came to mind: inflation. Readers know that I just wrote on this …
Read MoreInflation Is Shortages And Thankfully Transitory
I’ve got inflation on my mind these days. Who doesn’t? The U.S. 10-year treasury yield is up nearly 3-fold in the past year, stoked …
Read More“Burn It Down” Nihilism Is Harmful Too
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These are truly fascinating times to be an investor. Markets seem to be going through a generational phase shift, and not necessarily for …
Read MoreCOVID-19 Is Not The Last War
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These are truly remarkable times in the investment markets. The speed, intensity, and ubiquity of this selloff brings just one word …
Read MoreThe Unsurprising Repo Surprise
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Have you heard? There’s trouble in the repo markets. Even casual investment market participants probably know that something’s amiss. While only a handful …
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No, Fed: Supply Construction, Not Demand Destruction
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Everyone loves to dunk on the Federal Reserve (Fed). To many, the setters of U.S. monetary policy never get it right. Its stable of …
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