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One argument one hears about why you should not invest in
gold is because it has no intrinsic value, i.e. gold cannot be valued based on future cash flows.
And that is true. Gold has no intrinsic value.
My retort is … so what?
We humans are funny beings. We have innate ...
Commodities
Gold
It was announced on Monday that the Pontiac Silverdome - former home of the Detroit Lions (when they were still respectable), and host of Super Bowl XVI, the 1994 World Cup, and the 1988 and 1991 NCAA men's basketball Final Four tournaments - was sold on Monday for $583,000 , to a ...
Stocks
In my never-ending quest to pimp my book and make myself wealthier, as an owner of a lot of gold, I present to you yet another argument for the highly dubious yet incredibly self-serving thesis of Peak Gold - the death of the South African gold mining industry ! The apparent bottom line in a ...
Commodities
Gold
From The Telegraph Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years ...
Stocks
Gold
From Cafe Hayek If insider trading (on non-proprietary information) causes asset
prices to reflect more accurately the true, long-run values of those
assets, then insider trading should increase confidence in markets.
Put differently, ordinary investors would be less confident in markets ...
Stocks
One of the more amazing graphs I have seen is the graph of operating cash flows of the S&P 500. Operating cash flows are the cash flows from operations derived from the upper third of the Statement of Cash Flows. It includes profits, depreciation, changes in working ...
Stocks
S&P 500
From an academic Former Federal Reserve Governor Frederic Mishkin, a professor at
Columbia Business School, said it was "a huge mistake for the
government to think it knows the best size of financial institutions."
At the same time, he acknowledged that financial institutions ...
Government
Federal Reserve
Frederic Mishkin
The oceans of global liquidity are making their way to the usual places . The World Bank warned Tuesday that the sudden reappearance of billions
of dollars in investment capital in East Asia is "raising concerns
about asset price bubbles" in equity markets across Asia and in ...
Government
International Monetary Fund
From the Fed Abstract:
The $350 billion contraction in the asset-backed commercial paper
(ABCP) market in the last five months of 2007 played a central role in
transforming concerns about the credit quality of mortgage-related
assets into a global financial crisis. This paper attempts to ...
Other
Commercial Paper
At least until before the financial crisis . We use a parametric method to estimate the income distribution for 191
countries between 1970 and 2006. We estimate the World Distribution of
Income and estimate poverty rates, poverty counts and various measures
of income inequality and welfare. ...
Other
Global Downturn
I have made the case on a number of occasions that the Canadian real estate market, or at least parts of it, have been in a bubble . As someone who grew up in Saskatchewan, it was mind-boggling to me to see the prices of homes in Saskatoon - a city surrounded by prairie with -40C ...
Government
Housing Market
From the Cato Institute As the world approaches the 20th anniversary of the fall of communism,
it is worth investigating the costs borne by countries like India that
did not become communist but drew heavily on the Soviet model. For
three decades after its independence in 1947, India strove ...
Stocks
Cato
From the same article , nonetheless.
“ [T]o
paraphrase a great wartime leader, never in the field of financial endeavour
has so much money been owed by so few to so many. And, one might add, so far
with little real reform .”
- Mervyn King
And
“[R]oughly every three years for the ...
