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Carry Trade Ending?
When most people think of the carry trade they think of borrowing in Japanese Yen at near zero interest rates and investing in Aussie, New Zealand or Canadian fixed interest instruments to pick up the...
View ArticleJune Gloom
When the weather is not cooperating in Southern California this time of the year, the natives will regale you with the atmospheric conditions that produce the dreaded June Gloom conditions. If you...
View ArticleMind Your Head
October has dealt risk investors a nice bear market (or counter trend, if you prefer) rally. As we pointed out last week, these are not uncommon and are just as sharp (large magnitude, short time...
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A Different Kind of Short Squeeze
Ever since the markets started to destabilize in late 2007, regulators around the world have come up with new edicts to ban short selling, particularly of bank stocks. By squeezing out the shorts and...
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The Elephant Parade
Watching the market action over the last few months, I am reminded of the traditional circus of my youth. When the Ringling Brothers rolled into Madison Square Garden, the elephants would march in at...
View ArticleBuying Long Term Treasuries
“Don’t Fight the Fed” is one of the basic chestnuts of market wisdom that is impressed upon any newbie coming into the business. Why don’t you fight the Federal Reserve? There are many good reasons but...
View ArticleDeja Vu all over again
Yogi Berra, the famous wordsmith who also happened to manage the Yankees, is reputed to have said: “It’s like déjà vu all over again.” That happened to me this morning with my HTC Smartphone because...
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A Good Apple or a Bad One
One of the most common questions we get is whether a particular asset is “good” or “bad”. Usually, the investor has been looking at an asset and wants to know if now is the time to buy or sell. We tend...
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US Trade Deficit and the “Great Rotation”
Now that we have milked “January Effect” for a nice return, it is time to look forward to the medium term. This idea will take two letters to flesh out. This first part will set up the conditions; the...
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The “Great Rotation” and Risk
The FundLogik Application continues to point towards a risk weighting. For most portfolios, that means a shift towards equities and away from fixed income. Last week, we looked at one of the main...
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