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Strebler's Perspective

June, 2016 Archives

Math is the Key

by Jon S. Strebler

 

“Mathematics is the language in which God has written the universe,” or so said Galileo Galilei centuries ago. Certainly, math is critical in the world of finance, and an absolute necessity for successful investing. Richard Russell often wrote about two keys to successful investing: 1) buying items only when they represent compelling values, and 2) the power of compounding. Understanding math was essential for both strategies. In his classic piece Rich Man, Poor Man, Mr. Russell reminded us of the huge advantage that truly wealthy people have over the rest of us: They do not need the markets

 

 

 

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Labor Market Changes Continue

By Jon S. Strebler

 

Is the new normal indeed one where interest rates remain near zero for years or decades, and central banks are thus incapable of maintaining healthy economies? That’s the latest fear in any case, channeling the claim I first heard in B school forty-some years ago: “You can pull on a string, but you can’t push on one.”

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America vs. The World

by Jon S. Strebler

 

A frequent topic in the financial press is how America's economy looks much better than other world economies.  Quoted by the Los Angeles Times recently, economist Catherine Mann cites a "trap of slow investment, sluggish trade, and low productivity gains," along with significant risks ahead in world economies.  Those risks include: concern about China's slowdown, currency and interest rate swings, political turmoil in the Middle East and North Africa, and the possibility of  Britain exiting the EU.

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Too Many Workers Stuck at the Bottom?

by Jon S. Strebler

 

You’ve heard me argue that “Everybody wins from truly free trade – theoretically.” Successful free trade is based on each region specializing in producing those things at which they are the very best in doing, and then each region trading with one another so that people everywhere have the greatest variety, of the best quality items, at the lowest price.

 

 


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Forex Changes

By Jon S. Strebler

 

It is generally conceded that the world’s currency (or foreign exchange, or simply “forex”) markets are the largest and most liquid of the many financial markets, where something like $4 trillion of pounds, dollars, euros, yen and the like trade hands daily. Setting aside derivatives markets such as futures and options, they are also the youngest major financial market.

 

For many centuries, currency markets were a simple affair, where trading was based on how much gold (or silver, or copper) a state’s coins contained.

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