John Paulson Also Is Taking a Bath on Gold Mining Stocks I have nothing against John Paulson, he made the greatest trade in history and you have to respect that. If you haven’t read Greg Zuckerman’s book on this I highly recommend it. The point I want to make is that there are many money […]
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Weren’t Oil Prices Supposed to Go Up?
As oil prices hover around $90/barrel I can’t help but remember it wasn’t that long ago that oil was above $100 and certain to go up. Just about everyone agreed, the only uncertainty was how far and how fast. Now I have no idea what direction oil prices will go, nobody has a crystal ball, […]
Only 40% of Fund Managers Invest in Their Own Funds
A recent study by Morningstar found that only 40% of fund managers invest any money in their own funds. I cannot understand why the other 60% won’t put at least $1,000 in their funds so they don’t get a zero. Makes me wonder what they know that the average investor doesn’t. If someone who worked […]
Stocks Are Going Up, No They Are Going Down
Just reading my daily email from InvestmentNews, the first article is about Nouriel Roubini talking about we have a 33% chance of hitting the skids (not sure where he comes up with 33%, why not 40%?). Below that is an article about Bob Doll’s prediction that this correction was a buying opportunity. Who’s right? Who […]
Past Performance Still Doesn’t Predict Future Results
Berkowitz, Heebner and Miller in tight battle — for last place When you are a traditional buy and hold, style box based, mutual fund manager there will be times when your style is in favor and you look like a genius and there will be times when it is out of favor and you look […]
Morningstar to Introduce New Forward Looking Ratings
Morningstar to Introduce New Forward Looking Ratings I have never been a big fan of the star rating system as on one hand they tell you past performance doesn’t predict future results and then on the other hand they ask you to pick funds based on a rating that only takes past performance into account. […]
Principal Protected Notes Don’t Always Protect Principal
Principal-protected notes don’t always protect principal, regulators warn Another example of “if it sounds too good to be true it probably is”. In this volatile market environment the path of least resistance for many financial products salespeople are things that offer some sort of principal protection. These products are usually so complex the salesperson often […]
Finra Sues David Lerner Firm
Finra Sues David Lerner Firm I have often had people ask me to look into these REITs and I have often had trouble figuring out how they were structured, this lawsuit could explain why. Lerner proclaims their innocence so we will see who is right here but this is another sign that investors need to […]