PlanMaestro

And he now resigns? Weird.

Hi Merkhet. This is a good book about the interaction of rates, inflation and multiples. http://www.amazon.com/Unexpected-Returns-Understanding-Secular-Market/dp/1879384620

http://www.forbes.com/sites/ycharts/2013/06/06/tempted-by-for-profit-ed-stocks-read-this/

I used to play a lot but it's difficult to find a group to play that is not over 60.

Lunch with the FT: Stephen Hester http://www.ft.com/intl/cms/s/2/6f05854c-ce98-11e2-8e16-00144feab7de.html#axzz2VZfbDGkx

1493 Intuition Pumps Giants of Enterprise … and read Unexpected Returns once again.

Joshua Wallis? Great Stuff.

1998: http://www.youtube.com/watch?v=860Rd2BD74U&feature=youtu.be 2010: http://www.slate.com/blogs/thewrongstuff/2010/06/21/hoodoos_hedge_funds_and_alibis_victor_niederhoffer_on_being_wrong.html

The Washington Post goes paywall. http://www.washingtonpost.com/blogs/ask-the-post/wp/2013/06/05/publishers-letter-a-note-from-katharine-weymouth/

http://blogs.wsj.com/moneybeat/2013/06/05/fannie-freddie-bill-leaves-little-for-shareholders/

Thanks Jay, looking forward to it. A lot will depend on how the privatization is structured. If there is one. Peter Lynch on the GSEs moat: * It occurred to me that Fannie Mae was like a bank, but also had major advantages over a bank. Banks had 2-3 percent overhead. Fannie Mae could pay its expenses on a .2 percent overhead. * Thanks to its status a quasigovernmental agency, Fannie Mae could borrow money more cheaply than any bank, more cheaply than IBM or GM or thousands of other companies. * No bank, S&L, or other financial company in America could make a profit on a 1 percent spread. * As long as people were paying on their mortgages, Fannie Mae would be the most lucrative business left on the planet http://variantperceptions.wordpress.com/2009/09/10/voice-from-the-past-lynch-on-fannie-and-freddie-fre-fnm/

http://www.bloomberg.com/infographics/2013-06-04/may-us-auto-sales.html http://farm4.staticflickr.com/3774/8952046961_b0813f34ba.jpg

Senators Draft Plan to Abolish Fannie Mae, Shrink Backstop. http://www.bloomberg.com/news/2013-06-03/senators-near-plan-to-abolish-fannie-mae-shrink-government-role.html U.S. Could Profit From Fannie Mae Bailout, CEO Says http://www.bloomberg.com/video/u-s-could-profit-from-fannie-mae-bailout-ceo-says-jUx5JpRQTkyK5YwAlBLDlQ.html

No, but the alternatives are not very competitive at the current g-fee. (pages 5,6,7,8,…) http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/millstein's-plan-for-fannie-and-freddie/msg77844/#msg77844

“The tough work is over,” Berkowitz said. “I don’t understand the politics involved but it seems obvious to me what needs to take place.” Despite the tremendous, self-interested investor support for the dividend’s restoration, legislators seem unlikely to grant Wall Street’s wishes. Changing the current arrangement at Fannie and Freddie has been non-starter in Washington, and a bipartisan group of senators is working on a bill to replace the two companies, leaving no room for private shareholders. "" mmm … nothing new here.

And there are off-balance sheet issues and Infonavit stopped payments. Careful with those receivables. Thread: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/hxm-homex-development-(adr)/msg117777/#msg117777

Bruce being premature once again? ;)

Well said.

The thing is that the 240% is debt to nominal GDP. So when you borrow in your own currency, especially when its Japanese lending Japanese, some inflation is all that's needed for the laws of physics to work.

True that. The longer it takes the better but I was hoping for a more supportive Obama administration. The GSEs should have had an end similar to AIG's. http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/millstein's-plan-for-fannie-and-freddie/msg77842/#msg77842

Who invented the "Keynesian endgame" hook? Must be very recent because I'm not finding hits before 2009. Kyle Bass probably? http://goo.gl/mZ2ro Not working very well lately. Japan Sovereign CDS: Japan Corporate CDS: Milton Friedman on the "Keynesian Endgame" before it was invented. http://marketmonetarist.com/2013/05/25/two-cheers-for-higher-japanese-bond-yields-in-the-spirit-of-milton-friedman/

Indeed. I passed on the third ride, it was not as simple as the first two. Market madness from 2009. http://variantperceptions.wordpress.com/2009/09/07/market-madness-freddie-mac-edition/

The base rate fallacy wins once again.

http://marketmonetarist.com/2013/05/25/two-cheers-for-higher-japanese-bond-yields-in-the-spirit-of-milton-friedman/ http://marketmonetarist.com/2013/05/27/a-few-words-that-would-help-kuroda-hit-his-target/

Electric car group Better Place files for bankruptcy. "Better Place burnt through hundreds of millions of dollars of investors’ cash, but only managed sales in the low four digits."