Investor A.D.D.


From 1940 to 1980, the average holding period that investors held on to stocks was as high as 10 years to as low as 4 years. Then in the 1980s, the holding period started to fall to as low as 1.5 years in the late 1980s, before a brief bounce to two years in the […]

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Is China like Dubai?


Wow. Must read editorial by Edward Chancellor on the parallels between China and Dubai. Here is the best part: Dubai’s ambitions weren’t merely domestic. Dubai World and its subsidiaries, with their assumed government backing, went on a debt-fuelled global buying binge. Dubai’s economy expanded rapidly in the boom. But much of this growth came from […]

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Bill Julian


I highly recommend you read Bill Julian’s latest letter. I really liked it. Here is a snippet from the letter. He compares wildfires to today’s economic (mis)management: The tools that Washington will use to try to control these burns really amounts to its own balance sheet together with a policy of extending, amending and pretending. […]

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Why Are You Sitting in Cash?


The Treasury Department and the Federal Reserve with help from Congress and the White House is making something very, very clear. They are going to devalue the American dollar through the printing of money, maintaining excessively low interest rates and out of control government spending. If you are sitting on excess cash and that cash […]

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Russia: An Uninvestable Country


Ikea said Tuesday that it was suspending further investment in Russia, apparently because of pervasive corruption and demands for bribes. The announcement came after a rare statement by Ikea’s 83-year-old founder in a radio interview that Ikea had decided not to solve problems by slipping money under the table. Kudos to Ikea for standing up […]

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