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Quote du Jour: The Trouble with Investing in Averages [Paul Kedrosky's Infectious Greed]Never forget the six-foot-tall man who drowned crossing the stream that was five feet deep, on average. -- Howard Marks, Oaktree (quoted in Barron's) Real-world distributions are a killer. ... |
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![Breakeven Oil Prices in Gulf States [Paul Kedrosky's Infectious Greed]](http://statics.keegy.com//img/postsh/0D/8E/th2-breakeven-oil-prices-in-gulf-states.png)
Breakeven Oil Prices in Gulf States [Paul Kedrosky's Infectious Greed]Interesting chart from Fitch Ratings of the breakeven oil prices in Gulf States. These numbers have risen in recent years, but not with exploration and extraction costs, but with higher country-level program expenditures causing higher oil prices to be required to balance their budgets. Note ... |
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![Homage to Peter Schiff: Calling the Crisis Right from the Start [Paul Kedrosky's Infectious Greed]](http://statics.keegy.com//img/postsh/17/A1/th2-homage-to-peter-schiff-calling-the-crisis-right-from-the-start.jpg)
Homage to Peter Schiff: Calling the Crisis Right from the Start [Paul Kedrosky's Infectious Greed]Say what you will about Peter Schiff –- self-promoter, etc. – but he nailed the current crisis first, best, and most lucidly. And, to his credit, he got out in public saying it over and over again, despite harsh skepticism sent his way. As PE Wire said this morning, this may just be t... |
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Quote du Jour: PBGC's Circular Insurance StategyI'm working on something longer about the troubles at pension insurer Pension Benefit Guaranty Corporation, but this P&I quote from Jeffrey Brown at the University of Urbana-Champaign was just too good not to share: Why would an insurance company invest in the same asset that they're insuring? ... |
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More SoCal Freeway Economics [Paul Kedrosky's Infectious Greed]Apparently I'm not the only one noticing the fall-off in SoCal freeway traffic – despite lower gas prices: [via SOSD] ... |
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![R.I.P.: The American Consumer [Paul Kedrosky's Infectious Greed]](http://statics.keegy.com//img/postsh/17/29/th2-research-paper-du-jour-forecasting-0-of-the-last-1-depressions.png)
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