If Memory Serves

As Jason Zweig wrote in the commentary of The Intelligent Investor, "Daniel Khaneman and Amos Tversky have shown when humans estimate the likelihood or frequency of an event, we make that judgement based not on how often the event has actually occurred, but on how vivid the past examples are." The Great Recession is moving …

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Supply and Demand According to Treasuries

The Federal Reserve ended QE and has now decided to let select balance sheet residents mature without reinvestment. This essentially means that the demand for treasuries, when they come up for renewal, should be lower. This would indicate a higher yield as there is less pressure bidding up their price. On top of this, the …

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