March 11, 2009

Catching Up With Toles

Tom Toles is on a roll.

March 3rd...

Laid an AIG

March 4th...

J-Shaped Recession

March 8th...

Economy Lacks Health Insurance

March 9th...

Not Really Torture
March 10th...

Down the Wishing Well

Mar 11, 2009 2:22:58 PM | Miscellaneous

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Monday Reading Our normal blogging routine resumes on Thursday. In the meantime, a few worthwhile items from the wide world of the web: In The New Yorker, James Surowiecki assesses the curious case of credit card companies sending customers down the road. John Hussman doesn't like the federal government's response to the broadening/deepening financial crisis. Barry Ritholtz: Fix what's broken first, then "confidence" will return. Interesting item on sequence from Calculated Risk: The order of things weakening in recessions and strengthening in recoveries. Over at Naked Capitalism, Yves Smith riffs at length on the multiple absurdities of the "nationalization" debate.
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Dalbar 2009: Not Pretty For 15 years, Boston-based Dalbar has calculated the extent to which actively-managed mutual funds have underperformed the market. But Dalbar has gone beyond that now-familiar finding to help the world understand that investors underperform their own funds by buying relatively high and selling relatively low, piling into funds when they're hot and bailing out when they're not. In the latest edition of its Quantitative Analysis of Investor Behavior, just released on Monday, Dalbar has more bad news: For the 20 years ended December 31, 2008, equity, fixed income and asset allocation fund investors had average annual returns of 1.87%, 0.77%...