Gardener

Gold Analysts Are Far from Gold Bugs

Hmmm, the value of analysts advice...

TIPS Are No Longer a Steal

I don't think that the gold price is reflecting inflation expectations but more likely a currency crisis.

Gold Prices: A Familiar Trend

But no short position disclosed.

Will DENT Dent ETFs’ Low-Cost Image?

I don't think the floodgates will open and pour out more absurdly expensive funds like DENT. The fact of the matter is that the hurdle rate is just too high for investors to tolerate and recognize a reward that is reasonable to the risk of this product. That expense ratio is just a ball and chain for Dent, but I do wish investors good fortune.

Ending the Off-Balance Sheet Charade

It's time that SIV and off balance sheet sheltering be criminalized for the fraud it is. Investor tolerance of this behavior has been stunning. It seems to be a case of, "everyone else is doing it".

Citi: Not Earning Its Way Out of Bailouts

For Pandit to refer to the situation as 100 yr storm is disgusting. As though his actions had nothing to do with what has happened. Why will none of these people take responsibility for their incompetence?

Implications of Raising Target Inflation Rate

It makes me slightly sick to my stomach and a little dizzy with rage to hear Fed officials openly considering raising the inflation target rate.

80 Billion Dollars!

Thanks Roger. As with most retail advice such as Swedroe peddles the talk is all too simplistic but it is also a one shoe fits all approach. 60/40, buy and hold, etc do not take into account our individual needs. I have no interest in matching or beating an equity index and I'm not sure why there is this American obsession with equities in general. I do feel as though this canned advice that so many of these book writers publish does not serve most of their readers.

Why You Should Have Some Gold in Your Portfolio

I can't exactly take my shares of GLD to the store to make a purchase either. Poor argument.


On Sep 07 02:25 AM Paul H. M. wrote:

> It's funny: in EVERY SINGLE SA article that mentions gold, somebody
> is desperately trying to convince you not to use gold ETFs.
>
> I think these are just people who own physical, and are pumping their
> own books.
>
> But let's not forget, physical has many risks as well:
> 1) counterfeit (most people can't tell the quality)
> 2) storage (better hope no thieves find out you're keeping your net
> worth in your house!
> 3) liquidity (last time I checked, not a single retail outlet would
> except my Golden Eagles)
>
> These are all problems that are easily solved by using GLD instead
> of buying physical.

Are the Policymakers Waking Up?

Always appreciate your commentary Karl. It seems to me that part of the issue is the Feds duel mandate of low unemployment is incompatible with sound and responsible monetary policy. This should not be the concern of a central bank.

Competition in the Bond ETF Market Heats Up

Disappointing that Vanguard refuses to provide access to the international bond market.

Dr. Marc Faber on 'Recovery'

Mutually assured destruction assures nothing. I think it's dangerously naive to believe humans and for that matter governments would not behave irrationally in going to war or a time of it. We are involved in two major wars at the moment, something this country seems to have forgotten. There are more countries with nuclear capabilities increasing every decade. They will be used.

Prospects for Electric Cars

Any ideas out there for playing this with ETFs?

Why GM Stock Is Still a Bad Idea

contact your broker


On Aug 21 03:37 PM Kold wrote:

> How can I dump my stock. I have some certificate shares as well
> as some purchased in a stock reinvestment program. Please publish
> the answer.

Markets Aren't as Benign as They Look

From Fidelity huh?


On Aug 21 05:04 PM Crocodilian wrote:

> Author writes:
> 2009 has seen an extraordinary rally by more speculative assets,
> leaving “value” behind in the dirt. As Rob Arnott suggested two weeks
> ago, the gulf between “value” and “growth” stocks, for example, has
> only been more marked once in history – at the height of the dotcom
> boom.
> ----------------------...
>
> I'm a little puzzled by this assertion. The data I've seen state
> quite clearly that growth stock valuations are historically cheap
> relative to value stock valuations.
>
>
> From a recent Fidelity white paper (full link at bottom):
> As of the end of July, growth stocks were about as inexpensive on
> a price-to-trailing earnings (P/E) ratio basis relative to value
> stocks as they’ve ever been (see Exhibit 2). This unusual valuation
> discrepancy (value stocks typically have lower P/Es than growth stocks)
> is due largely to recent quarterly earnings growth declines in the
> financial sector—which make this sector look more expensive on a
> P/E basis. Based on analysts’ forecasts of future earnings over the
> next 12 months, the earnings of financials and value stocks are expected
> to rebound in coming quarters, which would make value stocks once
> again cheaper than growth stocks. However, even on a forecasted P/E
> basis, growth stocks are currently valued at the lowest levels on
> record relative to value stocks. Other valuation metrics, such as
> price-to-sales and price-to-book ratios, show that growth stocks
> remain below, but somewhat closer to their long-term average valuations
> relative to value stocks.3
>
> Source: https://news.fidelity....