The renowned CIO of Legg Mason, Bill Miller, has written an opinion piece in the FT today, criticizing investor preferences for bonds over equities, as demonstrated by the re-direction of equity fund flows toward bond funds. He believes that things are getting better, based on GDP numbers, credit spreads,…
Space available: Google maps image of 1331 L St, NW, reportedly the MBA HQ. The Internet continues to reverberate with the weekend’s news that the Mortgage Bankers Association has sold its Washington, D.C., headquarters for about half of what it paid for the high-rise three years ago. According to…
When I look back at my overspending days, it’s easy for me to see the many, many mistakes I made. My life was littered with them. There are some old journal entries of mine that are absolutely cringe-inducing to read. I still have quite a few items in my…
From Bloomberg: Greece Says Aid Call Would Send ‘Worst Signal’ as Bonds Slide “The worst possible signal which we could send out is one calling for outside help,” [Greek Finance Minister George Papaconstantinou] said in an interview with Bloomberg Television in Athens yesterday. “We will tackle the deficit,” he said,…
Quote of the day on Greece … “Europe has become a huge game of chicken, whereby the Greeks are waiting for help from the outside and donors are waiting for Greece to take a step forward.” Mohamed El-Erian, Pimco, Feb 8, 2010 Scroll down for a summary of last week…
Scroll down for a summary of last week and a look ahead (or click here ). The Federal Government is shut down in D.C. Monday because of snowmageddon! Also dig out your Dow 10K hats again … the U.S. futures are off a little tonight: Futures from CNBC show the…
From the WSJ: Housing Rebound in Canada Spurs Talk of a New Bubble Canada’s housing recovery has been so rapid that some here are worrying about a bubble. Last Wednesday, a housing-price index for Canada’s six biggest cities posted its seventh straight monthly gain, showing home prices in November are…
Every other Sunday, The Simple Dollar reviews a personal finance book of interest. 1/2 Price Living by Ellie Kay has a particularly noteworthy subtitle: Secrets to Living Well on One Income . A quick read of the back makes it clear who Kay is talking to – people who…
We all have lives that are chock full of distractions. Television. Radio. Magazines. The behavior of other people. The comments of our friends and family. We use all of these things as cues for how we should behave. Often, we even try to think ahead about these things and…
From Kenneth Harney in the LA Times: ‘Cash-in’ refis growing in popularity In Freddie Mac’s latest quarterly survey of refinancings, 33% of homeowners put cash into the deal to lower their mortgage balances, the highest percentage ever. By contrast, only 27% of refinancers took cash out — the lowest percentage…