EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
A Hedge Fund Manager Finds More to Like in Farming
Today’s story in the NY Times about Marc Cohodes recounts a poignant tale of the fall of a formerly highly regarded hedge fund manager. I wrote about Marc Cohodes in my book, The Hedge Fund Mirage. A perennial bear and manager of a short-selling hedge fund, 2008 should have been the year he made a spectacular […]
Ten More Years To Recover?
March 2022. That is the point at which, according to eurodollar futures prices, three month Libor will reach the heady yield of 4%. Ten years from now until money market yields are restored to “equilibrium” as defined by the FOMC in their rate forecast issued for their January 24-25 meeting earlier this year (reproduced below). The time to […]
Advice from the Federal Reserve – Bonds Still Aren't Cheap
Although treasury yields have risen around 30 bps over the past couple of weeks, yields have not yet reached what the Federal Reserve itself might call equilibrium. The FOMC rate forecasts that the Fed published earlier this year reveal an intriguing inconsistency between the Fed’s actions and its own market forecasts. Operation Twist and its […]
Wall Street Turns Its Back on Investors
On CNBC’s website today: http://www.cnbc.com/id/46759372
Interview on BBC World Service
This interview about my book The Hedge Fund Mirage was broadcast on the BBC World Service earlier this morning. It also includes an interview with a hedge fund manager brave enough to go on and defend his industry.