July 12, 2009

Stock Pursuit Ultra Links

Some good summary of some of the core principles of value investing. I left a couple comments on value investing in the comments section. Using fundamentals on the future and sometimes even the past will get you into trouble a lot. Most of the time I feel you are either a total contrarian or dead.

Simmons below wants to change some things. Yes, Glass Steagall! I read my college history paper thoughts on the present at the bottom here a couple times since the panic...I really was on to this crisis there...and my China call. Maybe if I remind myself and type this enough I'll figure out what held me back from selling my shirt to leverage up on shorts last year.

If you Google " 1907 Crash " that paper is 2nd out of over 1 million just to Wikipedia. It ranks for some other keywords to. When the crisis was raging at its height last year I got dozens of hits a day for those keywords as people were freaking out I guess. Funny as the stock market bounced a little the searches went to almost none a month. These past few days I've gotten 2 or so views a day and there was an increase before the sell-off. Could be insignificant and spurious correlation but interesting.
Ideas for fixing the $11 TRILLION of debt the US owes

Half the volume on the exchanges now is program trading and Goldman's system might have gotten out. I heard Goldman is notorious for manipulating Level II with disguising size.

Paul van Eeden is right again

Mohnish Pabrai lecture at Columbia U