Today's HH testimony (or whatever it’s called these days) contains some real gems on the Fed's view of how monetary policy really works. First, let’s reread the view of why lowering short term rates is the same as buying long term government bonds- "Large-scale...
As one reads through the Administration white paper on GSE reform a couple of key themes jump out. First and foremost the government's role in housing finance is going to diminish markedly. However, the white paper is somewhat tortured on complete removal of...
We all own one. It has been comfortably tucked away in our back pockets since late 2008. Occasionally we forget it’s there. And back in the fall of 2008, when it was taken away for a brief period of time, global capital markets self-destructed. Of course I’m referring...
For global capital markets, the events in the Middle East (ME) are exciting, transforming and of course worrying. Undemocratic, strong arm leadership is being toppled, which of course should be something the West welcomes and encourages. But with the orderly...
Kyle’s investor letters are always a joy to read. It is global macro investing at its finest. His latest missive is worth 15 of your valuable minutes this morning - http://www.scribd.com/doc/48881153/Kyle-Bass-Hayman-Investor-Letter-February-2011 He also has a nice...
Kyle’s investor letters are always a joy to read. It is global macro investing at its finest. His latest missive is worth 15 of your valuable minutes this morning - http://www.scribd.com/doc/48881153/Kyle-Bass-Hayman-Investor-Letter-February-2011 He also has a nice set of slides showing the lack of virtually any real world experience by those in charge of the Federal […]
