The New York Times Indicator

September 7, 2009

John Maynard Keynes described speculation as essentially trying to guess what other people are going to guess, and doing it better than they guess how you’re going to guess. I think this also describes macro-level investing, i.e. allocating capital based on economic data. As I stated in my last article, focusing on a decent cash […]


Should we care about the broader market

September 2, 2009

If you have been reading the financial news since about last May, journalists have been disturbingly preoccupied with the level of the indexes, and have been calling for, say, the S & P to correct from 900, as it sailed merrily past 1000 just to spite them. One imagines that they’ve been going for the […]