12.02.27 WSJ – For the Fed, There’s No Easy Exit

Two very important points in this piece (which weren’t fully clear to me before) – (1) the Fed needs to keep interest rates low, or it will have to mark down it’s $Tn holdings of US Treasurys (if rates rise, prices on current bonds will fall, triggering mark-downs); and (2) the Fed’s exemption from the proposed Volcker Rule for banks to be able to keep trading Treasurys, will skew bank portfolios away from private sector to public sector securities – these are two sources of “corruption” in the system that can only lead to bad outcomes, I think –

11.12.24 FT – Investors Remain Wary of Equities.pdf

11.12.24 FT – Investors Remain Wary of Equities

12.02.21 WSJ – Small-Cap Rise is Big Snooze.pdf

12.02.21 WSJ – Small-Cap Rise is Big Snooze

12.02.22 WSJ – Obama’s Dividend Assault

True, another editorial – but it puts some of the issues surrounding dividend policies in perspective…

12.02.24 WSJ – In Retreat, Sears Set to Unload Stores.pdf

12.02.24 WSJ – In Retreat, Sears Set to Unload Stores

12.02.21 FT – Investors Weigh Prospects for Dividend Catch-Up.pdf

12.02.21 FT – Investors Weigh Prospects for Dividend Catch-Up

12.01.21 WSJ – Buy Signals – How to Decipher Stock Buybacks