Monday Reading
Some interesting stuff to start a new week...
- From Sunday's New York Times: Peter Bernstein on the challenges inherent in managing the macroeconomy with monetary policy.
- More on the Fed, via Yves Smith: "Halt the Fed's Mission Creep."
- All About Alpha is right again: "[A]ctively-managed mutual funds are essentially a marketing package for two fundamentally different formations: a large deposit of beta and a vein of pure alpha."
- Chuck Jaffe ruminates on the meaning of risk in the financial markets--and the ways in which investors don't fully grasp its multiple dimensions.
- From a Jonathan Burton piece on cash levels in mutual funds: "Strong conviction in your investments, infrequent trading and a highly concentrated portfolio are keys." More on this topic
later todaytomorrow.
