Book: Endgame: The End of the Debt SuperCycle Authors: John Maudlin and Jon Tepper The title of the book is self-explanatory. The authors say that we are at the end of the debt super cycle and then talk about ways of unwinding the global credit binge. They also look at the possible paths that different countries may … Continue reading
Book: Reminiscences of a Stock Operator Author: Edwin Lefevre This is a book about exploits of Jesse Livermore, and is written by Edwin as if it were Livermore’s autobiography. Jesse Livermore was a trader in late 19th and early 20th century–he traded by watching the tape. One can be snooty about whether he was an … Continue reading
Book: Risk Author: John Adams “Prudence is a rich, ugly old maid courted by incapacity.” – William Blake Our culture pulls no punches when talking about people who avoid risk. Risk-takers are adorned with adjectives such as swash-buckling and fearless, while those who seek to avoid risk are described in a tone that William Blake … Continue reading
Look at how drastically 2Y, 10Y and 30Y yields have dropped in a week. This is stunning. The 2mo yield became negative. This is so unreal that BoNY Mellon has started charging fees for keeping investors’ money if they deposit >$50m, reversing everything you have come to expect from a bank deposit. You’re now … Continue reading
