PseudoBrain

Buffett's Strange Bet

I think everyone is too focussed on the fees. The fundamental concept remains an issue of diversification. Here you have 5 FoFs which are over diversified, and there you have a S&P which is an equity index, domestic to one country. Question remains, how can one bet on the performance of one or the other?

Okumus Capital - Portfolio Holdings

Wow! No idea hedge funds were being so open about their positions. Must be desperate for capital.

Winton Capital Management: No Down Years

This is definitely a fund that is a source of alpha. But my learned friend here misses a point- the low monthly vol masks the high intramonth vol and therefore the returns look much more smooth than they actually are. After removing the alpha (drift?) the 'stationary' series has a volatility that is not completely non-significant.

A Look at November's Jobs Report

I get the point you are trying to make, but consider this. The total population will also consider a significant number of seniors and children, and measuring the employment ratio against that would only be flawed. A better estimate would be to delete the "searching for work" category, though I find it hard to believe that anyone would stop looking for work in hard times- would actually expect the reverse as that would help people ensure some income to the house in a bad economy.