The virtual ink had barely dried on my "time to get excited about valuations" post when the Federal Reserve did what, up until that point, most of us thought would never happen. They announced they would not only be buying junk bonds, but also junk bond ETFs. The spread between
For those of you who have been following along, I've been using this space each Monday to list all the things I thought about over the weekend. It's something I did during the financial crisis and the 2011 "debt ceiling circus/EU debt panic". There's just too much happening to
I'm not sure if keeping track of how many weeks helps, but we're entering the 5th week since the country began shutting down. I was in Tucson for my quarterly trip to our office there when the panic really began. That was the week the NBA and then all other
As much as I tried to unplug over the weekend, it was tough to avoid all the Coronavirus news. It's also difficult to keep up since both LinkedIn and Facebook decide to filter our feeds by things they think are relevant, not in date order. Check the timestamps on any
I've spent my entire career criticizing the Fed. A group of academics sitting around trying to control the economy with interest rates and the various other vehicles always ends up causing additional problems elsewhere. I've argued for the past 10 years the Fed would again create bigger problems due to
