Remember the Argentinian debt default? Successive inept governments spent substantially more than they should have and then hid the problem in cooked books. Eventually, the weight of the debt caused a collapse and Argentina was forced to default on its obligations. If you were around at the time, you will well remember the constant barrage of media coverage. It dominated the headlines as the world panicked, wondering if the problems in Argentina could affect their part of the … Read more
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The Alport Report – #4
1. Volatility: Not Extraordinary After All
I learned something today. The VIX or volatility index doesn’t really measure volatility it
measures risk. But it sure gets its fair share of free press. CNBC talk about the VIX ad nauseum.
The risk it measures is “implied volatility” and I think any time you imply anything about the
stock market you have a 50/50 chance of being right…you either will or you won’t be right..50/
50. Just another example of investors taking … Read more
Chinese Growth, Real of Contrived?
There’s no doubt, China has experienced amazing growth over the last 10 to 15 years and it seems even more amazing against a backdrop of the Developed nations who seem to have stalled out amid one catastrophe after another. But is the Chinese growth sustainable? There is still a lot of work to do to move the masses of Chinese people into the middle class but has their zest to accomplish that clouded the vision of their leaders. Are they … Read more
Solving the Greek Debt Problem
Now I understand the whole Greek/Italy debt thing…..
It is a slow day in a little Greek Village.
The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.
On this particular day a rich German tourist is driving through the village, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to … Read more
