Wednesday links: trade trends

10Dec08

The definitive end of Bill Miller as a genius meme. (WSJ.com also 1440 Wall Street, Clusterstock, Investor’s Consigliere, Capital Spectator)

What are zero interest rates on T-bills telling us? (WSJ.com, NYTimes.com)

“Over the long haul, though, stocks should deliver an average return.” (Clusterstock)

Another model (Ford Equity Research) points to an undervalued stock market. (Marketwatch.com)

What say market timing indicator, the Coppock Curve? (Trader’s Narrative)

A good look at which countries have come back the most during the rally, and which ones have lagged. (Bespoke)

Selling stocks to buy ‘toxic’ mortgage assets. (FT Alphaville)

Where corporate cash went during the boom. (Floyd Norris)

Five stocks with zero value. (Morningstar.com)

Could the Fed issue its own bonds? (FT Alphaville)

A big part of the dumb-money culture was the rising sense that hedge-fund managers, asset flippers, and financial engineers—because they had made a lot of money from cheap credit—could apply their genius to industries in which they had little expertise.” (Slate.com)

CMBS are sporting junk bond-like yields. (WSJ.com)

A better, more intuitive measure of risk. (CXO Advisory Group)

Can the sell-side stay relevant in the new capital markets? (Marketwatch.com)

A lot of mathematics is no substitute for a little bit of commonsense and an open mind.” (Value Plays)

Questioning the commodities super cycle. Jim Rogers on the other hand continues to believe in the commodity boom. (naked capitalism, market folly)

Ken Griffin speaks. (Dealbreaker)

Newspaper companies levered up while revenues and margins were dropping. (DealBook also BusinessWeek.com, BuzzMachine)

What would Dow Jones be worth today as a standalone company? (The Daily Beast)

Efficient frontiers are impossible with short assets. (SSRN.com)

The forward premium puzzle extends to emerging market currencies. (SSRN.com)

The auto bailout bill kicks the problem into next year. (Baseline Scenario)

“The most similar recession to the current one is 1973-75 when the unemployment rate increased about 4-1/2 percentage points in about a year and a half. ” (Econbrowser)

Global trade is shrinking, in part because trade finance is frozen. (Free exchange, Follow the Money also macroblog)

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