StreetEYE Blog

Druce Vertes, CFA


Overhyped Economic Hurricane?

With the S&P down 13% since July 7, and the 10-year rate down a point to barely over 2%, markets are discounting the double dip. They might be doing a great job of early warning, sensitive to faint aromas in complex crosscurrents of data. Or they might be wrong.

‘Cat Food’ In An Age of Diminished Expectations

Tucked away in the neglected items in the ‘Tools’ menu above, you might have noticed the metaphorical ‘Cat Food Calculator’. The name may not be totally tongue-in-cheek in our world of neglected defined-contribution plans, depleted by poor performance and post-crisis raids. The idea is pretty simple:¬† input a portfolio value, asset allocation and withdrawal amount; […]

Lucky Duckies and Red Herrings

There’s a disingenuous meme being perpetuated by the grossly misinformed and cynical, that 50% of Americans get government benefits, but pay no taxes (the ‘lucky duckies‘,¬†here and there and everywhere). This is an inflammatory misrepresentation of estimates of the percentage of households that owe no Federal income tax. Let’s try to break it down.

State of Play

We have been going through the stages of coming to terms with GOP berzerkers. Denial – “They’re just posturing” Astonishment – “Wow, some of them are dumb enough to believe their own BS”, Facepalm – “I can’t believe they’re actually going to do this.” As matters now stand, Boehner managed to pass a Frankenbill, which […]

Fannie, Freddie, and the Financial Crisis

Once again, people are debating here and here and here whether the GSEs like Fannie Mae and Freddie Mac caused the financial crisis. I’m with Barry Ritholtz – it’s a case study of confirmation bias in action. If you are predisposed against X, the financial crisis was caused by X, where X is ACORN, or […]

The debt limit and the bond market

Sometimes the first duty of intelligent men is the restatement of the obvious. – George Orwell A faction of Congress is preventing action to increase the debt limit without significant fiscal tightening, and some are making a case that the US should not raise the limit under any circumstances, and that default on US obligations […]

ETFs – Get Off My Lawn!

The greater the institution, the greater the chances of abuse. – Mohandas K. Gandhi Two diametrically opposing story lines, both true. In one corner – ETFs are making mutual funds obsolete. In the other corner – ETFs are a potential source of systemic risk. Also – ETFs – Worse Than I Thought.

The Great Bitcoin Robbery

Bitcoin is a fascinating experiment: digital currency that doesn’t depend on a central authority.

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