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"(The) hydrocarbon-reordering of geopolitics is already taking place.......keep reading

The stock market dropped some 14% peak-to-trough in eight weeks starting in mid-January -- about 10% off last year's close. But that latest leg down -- albeit relatively minor in the context of the whole three-year bear -- set off disproportionately incremental bearishness and capitulation....keep reading

History will record -- and generations of future investors will be stunned to learn -- that on a particular day in June 2003 the current dividend yield of the S&P 500 was 1.6%, the interest rate on the five-year Treasury note was 2.15%, and the yield on the 10-year Treasury was 3.2%....keep reading

Just as you receive this edition, the second half of 2007 will be starting. What is your plan for making it quantitatively and qualitatively different from the first half?...keep reading

First, let me foreswear any attempt to be timely in this essay, which of necessity is being written about ten days before you see it. In the interim, things being as they are, the market may go up and/or down four percent in a day several times; a number of banks and/or insurers may tank, merge and/or get bailed out -- eventualities which the mob will greet with euphoria and/or terror on succeeding days; and the federal government will elect to rescue them all and/or let them all burn from a Friday to a Monday. I know not; I care not; it matters not. And it's all too boring for words....keep reading

Q: I have always been impressed with how well you speak and write. Did you ...
A: Thanks for your kind comment. Like everything else in life, I guess, you're ...

Q: You haven't spoken much in a long time about the two-years-living-expenses-...
A: As a general rule, I do continue to recommend two years' living expenses in a ...

Q: In your books you've stated that you believe a fair fee is 1%. In fact I believe ...
A: You have misread the book quite seriously. The second edition (the ......keep reading

It seems like only yesterday -- but was in fact February of this year -- that we marveled at how long the U.S. equity market had gone without a 2% down day. The market actually ran 140 days without such one-day volatility -- a feat which it hadn't managed to accomplish in 47 years....keep reading

In January, my Financial Advisor magazine column -- titled "It's Yesterday Once More" -- chronicled the almost eerie parallels between the current housing debacle and its forerunner in 1990-91, even down to the recapitalization of the banks in the wake of housing-related writedowns....keep reading

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As this is written, in mid-January, there seems a growing likelihood that the United States will lead an armed incursion into Iraq within a few months....keep reading

1. I love Geoff Colvin; he's one of the very few journalists whose work (in Fortune) ...
2. Bernanke's talks at the annual Jackson Hole pow-wow on August 27 ("The ...
3. Speaking of economic geekiness, I suppose I ought to come completely out of...
4. Please believe that I do not mean as a political statement the expression of my...
5. The Seventies were so thoroughly and unrelievedly awful that many or most of ...

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1. With just a couple of caveats, I can warmly recommend Gregg Easterbrook's...
2. Speaking of the bogeyman of "inequality," Bill Flax wrote a crackerjack essay ...
3. The current administration--"pivoting" in the wake of its Massachusetts ...
4. There has been quite a lot of controversy lately--and even more confusion--...
5. As a self-confessed Brian Wesbury groupie, I predictably had my heart set a-...
6. This may seem like a long way to go for a drink of water, but: the more the ...
7. I spoke at some length the other day --for the first time in quite a long time--...
8. One of the reasons the Bernanke re-nomination is suddenly in so much trouble ...
9. One of the most moving books I'll ever read was sent to me not long ago by its ...
10. Ix-nay on Reinhart and Rogoff's This Time is Different. It is undeniably a ...

First, the facts. In 1968, the SEC mandated the system of pricing mutual funds which remains in use to this day. Mutual funds are priced at 4:00 p.m. Eastern time, coincident with the closing of the New York Stock Exchange....keep reading

There are, as I have often said, only two kinds of people in the world: people with too much class to say "I told you so" and people like me....keep reading

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My bride, the former Joan Carrick, and I were recently guests at a genuinely world-class hotel in a certain western European capital. We planned to rise early and breakfast lightly, as we always do, and then begin our day of experiencing that great city....keep reading

As has been well documented, the bursting of the housing bubble in the summer of 2005 led to a richly-deserved and prolonged bear market in residential real estate, which is ongoing and -- for reasons developed below -- likely to get worse before it finally finds its inevitable bottom....keep reading

Ask Nick...keep reading