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I spent eight years at Bank of America in New York (1978-86) covering Wall Street, then moved to Moody's Investors Service where I worked for 22 years, covering banks, sovereigns and corporates. I chaired the Credit Policy Committee for four years. I retired in 2007 as vice chairman.
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My philosophy: I am a libertarian, a market monetarist, an admirer of Fisher, Friedman and Minsky. I believe in a strong safety net and strict regulation of the financial system. I support most of Dodd-Frank. I think that the world's #1 problem today is inadequate inflation and nominal growth. I believe that the Fed should have two mandates: financial stability, and a nominal output target. I follow Scott Sumner and the other market monetarists. I respect Krugman as a brilliant economist who happens to be a leftist.
In addition to publishing at Seeking Alpha, I have my own financial blog at http://capitalismandfredom.blogspot.com
Retired, tired, safety oriented elderly low income investor. Retired enlisted military. Have studied medicine and business and been an ultra conservative investor for 30 years. Elderly conservative investor needing income from safest stocks. I also maintain an awareness of pullbacks with midcap stocks and, a somewhat higher beta like HRB. Finally, will carefully consider only a very slight % of modest portfolio in a growth stock with a horizon of 2 -5 years. No option/short trading. I maintain a heavy emphasis on safety without a view toward "hitting it big". The bulk of my portfolio is and will remain in a company with a sustainable dividend, excellant cash flow, within recession proof industries other than high tech. Being largely risk averse has helped me establish & sustain a 500K portfolio, while permitting me to sleep soundly. worn out 123, US Navy-Ret., BBA
10/18/2016 I am looking @ (F) Ford for safety and appreciation. A hefty 5% divvy, good management, a new plant in Mexico, and innovation into driverless autos and electric autos give me cause to rely on this company to be around and strong for the future. I'm in @ 11.17. The faint-hearted never won the fair lady. AT&T (T) is a natural defensive stock in the event of a crashing world economy, IMHO. I'm in T @ 36.36. BP and RSD.A are two high dividend stocks whose time is here. For the long term -- BP @ 33.98. RSD/A @ 49.56.
I am a 43 year veteran of Wall Street. My first 26 years were spent on the buy-side as an institutional money manager. I have spent the last 13 years as a sell-side strategist. I am a life long contrarian who finds it easy to take positions quite apart from the crowd. I am most comfortable with my forecasts when my macro and technical analysis are in sync and when my views are at odds with the consensus. I've always been fascinated by the behavioral aspects of investing. Years of observing investor behavior has led me to the conclusion that investor psychology may be the most powerful emotional force in the universe, more powerful than love or hate. It causes otherwise rational beings to make some very irrational decisions. I think every investor should read Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay.