I’m not sure how it happened, but someone has caused a rally in the bond market. Commodity prices have been dropping, although not as fast as they should. Stock prices have been falling faster than they should, and bonds are rallying. The yield on the ten-year Treasury has dropped from 3.5 percent to just below…
It is always hard to tell when a market has gone from being just a little maddening to becoming a full-blown bubble, but we are starting to see some telltale signs. One of those signs is the classic market bifurcation. Over the last year, everyone has done well on an absolute basis but some have…
Over the years I have written a great deal about the various problems in my industry. I have discussed the flawed structure of the retail brokerage world, the lack of training of the vast majority of “financial advisers,” the layers and layers of fees, and the conflicts of interest. I also have discussed the psychological…
First and foremost let me say that our thoughts and prayers are with the people of Japan who continue to suffer in this awful tragedy. I know I have shared this story with many of you before, but any time my job forces me to focus on what is often the cold, hard reality of…
This may come as a surprise to some of our clients, but Iron Capital does not have a monopoly on economic or market insight (wink, wink). There are a lot of very smart people in our industry, and Wednesday night we had the honor of hearing from two of them. So I thought we would…
