31 March 2017

Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized

Be careful where you do your Banking business! Nothing is safe these days!
Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized

Wealthy prefer Mix of Robo-Advice and Human Contact

All very well, but what kind of mix, and how to offer it?
Wealthy investors prefer mix of human and robo-advice, says survey

29 March 2017

Hedge Funds - not perfect, but objective criticism please!

Claiming that Hedge Funds are expensive and offer poor performance is cheap criticism. Long-only Fund Managers are also in the firing line over poor (relative) performance and high fees. Hedge Funds 'suffer' from the fact that a long bull market makes it easy to outperform any 'hedged' fund. The real test has to be over a whole cycle - from peak to peak over one full bear and bull market. And by the way: levered 'Private' Equity Funds escape scrutiny as their performance numbers are not bandied about in the media - not to mention the often excessive compensation that the management of the companies they are invested in enjoys. So-called 'Absolute Return' Funds are now often sold on the premise that they solve the problem - neither too much hedged, but not fully exposed to market cycles - but their performance and fees are also not all that attractive.

24 March 2017

Digital Gold - worse than Paper Gold

The whole reason why you would like to own Gold is to have something to fall back on if Paper Money (or the digits produced by the Central Banks) looses more and more of its value. Paper Gold (Gold ETF for example) and - even worse - Digital Gold can be useful instruments to play the asset class on a short-term basis but will be useless (inaccessible?) when they are really needed in times of crisis.
A New Trend Emerges – Digital Gold "Gifting" Gains Popularity In China

Thiam kassierte seit 2010 total 100 Millionen

At least you know what you pay your fees for! Whether you get good performance or not - at least top management will be grateful if you do not shop around for asset management services! Don't wonder how a former Insurance manager is allowed to run a major bank with an ancient history and pedigree!
Thiam kassierte seit 2010 total 100 Millionen

23 March 2017

What Type of Investor Are You? Active, Passive or DIY Investing?

What Type of Investor Are You? Active, Passive or DIY Investing?

Leveraged ETFs - only if you can handle high Risk

SEC May Regret the Day It Allowed Leveraged ETFs

21 March 2017

Warning: The US Stock Market Is An Anomaly

Warning: The US Stock Market Is An Anomaly

17 March 2017

S&P 500: World's most popular Momentum Strategy

"Indices are man-made and prone to all the same issues that anything man-made would be. The committee makes decisions about composition all the time. They add stocks at major tops and remove them at major bottoms. Framed this way, the S&P 500 can be described as “the world’s most popular momentum strategy.

Saving the Mutual Fund Industry

16 March 2017

IPO: Canada Goose exploded on its first day of trading

With a broken IPO system the sky is the limit! Would anyone really 'invest' at such valuations if they had to keep the shares for three years?
Canada Goose exploded on its first day of trading (GOOS)

Factor Investing: Just another Fad?

No one should be surprised about that statement! While 'Factor Investing' gets a lot of attention recently it is basically old wine in new bottles. And timing is the biggest challenge in all investing decisions!
Cliff Asness: Factor Timing is Hard

15 March 2017

No one has voted for this: Intl Exchange of Tax Information

Quite apart from the fact that there are simpler ways to increase tax revenues the international agreement violates basic rules of a proper democracy. The agreement is negotiated several steps removed from what ordinary citizens care about, or what they want. Anonymous bureaucrats deal over the head of citizens in backroom fashion. A withholding tax would have been simple to introduce and administer and the privacy of savers would have been preserved.
The hypocrisy surrounding this form of legislation is evident when just recently the Italian government announced that the Super rich would be offered tax-haven status in Italy. A billionaire would be able to pay just €100.000 (!!) per year in full settlement of his tax obligations! And an (in)famous Italian, Signore Draghi does his best to confiscate the incomes of hundreds of millions of hard-working and honest citizens in order to bail out his profligate fellow-citizens.

Tax Striptease - Your Freedom is eroded once more

Notwithstanding the fact that Swiss Bank Secrecy saved many a life among those persecuted during the Third Reich the Kleptocrats ruling in our Pseudo Democracies are hell-bent on achieving total control of the lives of their citizens. One day a government will blackmail citizens to hand over all assets held outside its jurisdiction - the 'Land of the Free' is already close to a totalitarian tax dictatorship and others will follow as long as the march to ever-increasing government spending and waste continues unabated.
Ausländer müssen UBS intime Steuerdaten geben

Bitcoin Hype: is it Digital Gold? Caveat Emptor!

Bitcoins compared to Gold? While Gold may not be the ultimate store of value (problems with fake gold, confiscation, safekeeping) it is still better than some digits in unknown/unsecure computers that can wiped by savy hackers or the friendly government. Remember Tulipmania in the 1600s!
Digital Gold - For Now Caveat Emptor

12 March 2017

Traders are paying 'extortionate fees' to short Snapchat (SNAP)

Even more amazing that irresponsible Index providers want to herd unsuspecting investors into unproven bubble stocks. It shows that 'passive' investing slavishly hugging indices is no panacea!
Traders are paying 'extortionate fees' to short Snapchat (SNAP)

More Air than Value? Airbnb Raises $1B At $31B Valuation

Remember, the rulebooks that the Regulators publish get longer and longer but none of the rules cover the real important challenges investors face, like buying and selling at the right price
Airbnb Raises $1B At $31B Valuation, Likely Delaying IPO Plans Further

Paper trading: Seven Benefits to practicing buying stocks - ValueWalk

Paper trading: Seven Benefits to practicing buying stocks - ValueWalk

Hedge Funds not as bad as Warren Buffett claims

Comparing an Index (S&P 500) with Funds of Hedge Funds also compares apples and organges, though it is near impossible to invest in a Hedge Fund Index, though that would be the appropriate benchmark
Does Warren Buffett Not Understand Risk-Adjusted Returns? - Bloomberg View

More important than ever that YOU monitor Advisers

Relying on good faith or protection by regulators is not going to do the job in the future!

Trump firing of Bharara leaves void in fight against corruption and Wall Street crime

8 March 2017

Watch out! That is what your hard-earned fees pay for!

BlackRock To Pay Ex-Chancellor Osborne $800,000 For Four Days Of Work Per Month