Charlie Stromeyer Jr

90 Comments

    • 5 Best Ways to Get into Gold [view article]
      najdorf, you may be correct. In February 2003, one of the world's top hedge fund managers told me that the Iraq War would be a total disaster which is the main reason why I went long precious metals equities in March 2003.

      Please note that the two biggest drivers of gold prices are what the U.S. dollar is doing and also jewelry demand, and that we are about to enter the wedding season in India which is the biggest source of demand for gold jewelry.       Jul 30 09:41 AM
    • 5 Best Ways to Get into Gold [view article]
      User 155010, that is a great quote from Jim Rogers. I always listen to Jim Rogers, but sometimes I successfully bet against him. For example, he said years ago to never invest in Russia nor Mexico, but I made a lot of money for my clients by going long both countries.

      Disclosure: long Russian, Mexican and precious metals equities since the start of the Iraq War.       Jul 30 09:16 AM
    • On Ben Graham, Bank Stocks, Jason Zweig and Tom Brown [view article]
      I like this piece, and have a question:

      A popular trade in Brazil about a month ago was to go long the preferred shares of Petrobras while simultaneously shorting the common shares. This was a very successful trade, but would it qualify as a "related hedge"? Thanks.

      Disclosure: I engage in related hedging, trading Brazilian equities, and am long many financial companies but few here in the U.S.       Jul 30 08:51 AM
    • Stock vs. Bond Valuations [view article]
      bearfund, I should have been more explicit. What I meant is that the *core* rate of inflation was abnormally high during the 1970s compared with the past century. Paul Volcker finally took care of this problem and then the core rate trended lower and has stayed relatively low since then.

      Note that over long periods of time in the U.S. economy that the headline rate of inflation has converged towards the core rate.

      Disclosure: short 10 year Treasuries since a yield of 3.52       Jul 30 08:04 AM
    • Housing: No Bottom Yet in Sight [view article]
      carey_jim, my guess as to why this has been happening is that housing sales always bottom before home prices do and there has been stabilization of sales in just a few areas of the U.S. Jul 30 07:45 AM
    • Housing: No Bottom Yet in Sight [view article]
      kurt walter, those of us who work in finance would like at least a rough estimate of when housing prices will bottom because housing prices are still the main collateral in the global financial system such as with ABSs. Jul 29 03:14 PM
    • Covered Bonds Are Indeed Covered - By You [view article]
      I agree with optionsgirl because once the U.S. dollar bulls wake up and see how bad the U.S. federal deficit is going to be then gold should perform well.

      Disclosure: long precious metals and related equities.       Jul 29 03:03 PM
    • About That Silver Lining, Erin [view article]
      Kevin, you should seriously consider firing yourself for watching crappy TV instead of working !-) Jul 29 02:58 PM
    • The "Science" of Monetary Policy [view article]
      "Groupthink" was worse with both the Facists and Commies, but I agree with you that economics is rightfully known as the "dismal science".

      For example, since WWII there have been double blind (often placebo controlled) experiments in medicine, but such experiments are not possible in economics.       Jul 29 12:02 PM
    • Taylor Rules, Exchange Rates, and Speculation About the Dollar/Euro Rate [view article]
      If this topic interests you then please read the comments on this post at Professor Chinn's blog:

      www.econbrowser.com/ar...

      Thanks.       Jul 29 11:52 AM
    • Stock vs. Bond Valuations [view article]
      Shouldn't you look at a chart over a longer period of time and also factor out the 1970s because during the past century inflation was abnormally high during the 1970s, and inflation is historically the worst enemy of 10 year U.S. treasuries?

      Thanks.       Jul 29 11:42 AM
    • All About Covered Bonds [view article]
      Thanks for writing this great piece, and to see the underlying reason why covered bonds are now performing poorly in Europe please read my comment here:

      seekingalpha.com/artic...

      Thanks.       Jul 29 11:29 AM
    • Covered Bonds Are Indeed Covered - By You [view article]
      TBill, I agree with you, but I would prefer to have a short and sharp recession to get it over with than a long and shallower recession. Jul 29 11:26 AM
    • Jason Zweig on Graham and Bank Stocks: 'The Un-Intelligent Investor' [view article]
      najdorf, please read this piece on why economists look at the prices-to-rents ratio:

      www.frbsf.org/publicat...
       Jul 29 10:32 AM
    • Financials: How - And When - We Reached the Bottom [view article]
      Thanks for your answer, Swiss_Buffett, which I agree with.

      Disclosure: One of the board members of a company that I advise is a manager at State Street in Boston.       Jul 29 09:56 AM
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