Monday, December 9, 2013

Not much to read today

Not much worth reading for the rest of this year, I guess. Or maybe I'm just bored with the news?

The Reformed Borker (Bork Bork Bork!) - Josh Brown is constructive on gold miners for 2014. He notes an article in Forbes about how the hardest-sold stocks in December are the best performers the following year, and then says:
Can you truly buy fear at this time of year and hold through 2014? If so, your top sector candidates are the gold miners, down an astounding 53% on the year.
By the way, here's a quote from the Forbes article:
After recent tax law changes, qualified dividends and long term capital gains can be taxed as high as 25% if you include limits on deductions and the new surtax. In 2013, there are more reasons than ever to rebalance your portfolio at year end, take losses where they are, and get in the best position possible for this higher tax climate. This is causing a fear induced rush to the exits in some sectors as investors sell their losers to offset gains in their winners.
Okay, in reality Josh isn't really constructive the gold miners; but if you follow the thinking in this article then it seems logical, no?

FT Alphaville - on how much hedge funds suck. Here is the core of the problem:
The flood of money into hedge fund strategies has competed away what unexploited returns were available to hedge funds. As there is no inherent return to cleverness, the outperformance of hedge funds will tend towards zero.
As if, I guess, there was only a certain amount of money to be won in the market, and as more players enter the returns per player go down.

1 comment:

  1. I feel like you'll appreciate this.

    Til a Tequila, Lizard People... Nuff said.