Outside the Box, August 2005


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Pick of the Week

August 29, 2005

This week's letter comes to us from a group in London called Bedlam Asset Management. Last week my partners in London forwarded this article to me and said, "worth 5 minutes of your time." I agree. 5 minutes and more. Bedlam has a series of articles called Pick of the Week and this one from late July takes a look at the banking problems in China. Many of the world's largest banks seem to be rushing to China, just to be there and may be setting themselves up for problems in the...

Omitted Variables

August 22, 2005

This week's letter is from John P. Hussman, Ph.D., President of Hussman Investment Trust. His firm is one of the few that has employed hedging techniques, similar to the hedge fund world, in a mutual fund structure. John is also one of the really, really, really smart guys in the running money business. John manages the Hussman Strategic Total Return Fund - HSTRX and the Hussman Strategic Growth Fund - HSGFX.

Hussman's Weekly Market Commentary on August 22, 2005 takes a look at the...

The Consumer-Dependent Economy

August 15, 2005

This week's letter comes to us from Dr. A. Gary Shilling, president of A. Gary Shilling & Co., Inc. Gary is a long time friend and one of my favorite economic analysts.

Gary takes a look at what he has termed the consumer-dependent economy. The consumer has increasingly become a larger factor in driving our economy with the help of debt and loose monetary policy. Savings, GDP, housing, debt, and bankruptcy trends are pieced together to create a bleak picture of the baby boom...

Juiced Data

August 8, 2005

This week's letter comes to us from my friend Barry Ritholtz, Chief Market Strategist of the Maxim Group and a frequent guest on CNBC and Fox. I have been reading his commentary for several years and he now keeps a Blog called The Big Picture.

The following is a combination of two commentaries about government economic numbers. It is hard to rely on statistical numbers if the government periodically decides to change how they are calculated and Barry takes a look at several...

The World Ain’t What It Used To Be

August 1, 2005

Once again we take a look at some comments from the HCM Market Letter written by Michael Lewitt of Harch Capital in Florida. This is a private letter for his clients and we are excited to have permission to share it with you. Michael is one smart guy with a deep understanding of the markets, especially the credit markets, and how they work. The firm manages domestic and offshore debt and equity hedge funds and separate accounts.

I really look forward each month to getting...