“I don’t want to go from wild turkey to cold turkey.” – Richard Fisher, Dallas Fed President, referring to the end of the Fed’s ultra-easy money policies “The problem with fellows [like central bankers], who believe that the markets cannot be left alone and need to be managed when… Read More

“It’s funny. All you have to do is say something nobody understands and they’ll do practically anything you want them to.” – J.D. Salinger, The Catcher in the Rye “The investor’s chief problem—and even his worst enemy—is likely to be himself.” – Benjamin Graham, Warren Buffett’s mentor POINTS… Read More

“If the only reason you find for doing something is because others are doing it then that’s not good enough.” – Warren Buffett Rebels with a cause. Fortunately for our sanity and overall life enjoyment, we’ve all met a few… Read More

“People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome.” – George Orwell   POINTS TO PONDER 1. Although Evergreen remains convinced that the riskier parts of the US… Read More

“Watching neighbors get rich at the end of a bubble while you sit it out patiently is pure torture.” – Jeremy Grantham, co-founder of $117 billion money manager GMO He who laughs last, laughs best. We all have our secret… Read More

“That is going to be a huge challenge, to which I don’t have a great answer.” – Janet Yellen, referring this week to risks from the Shadow Banking System Fireworks in our future? As perceptive EVA readers realize, today… Read More

“This environment is one that naturally encourages investors to use borrowed money to increase their exposure to risk…they will ‘ride the market’ until there is an unambiguous signal of a ‘turn’.’” – Mohamed El-Erian, Pimco’s former CEO Come on, Dave—pull it together!… Read More

“In their efforts to promote growth and jobs, central banks are trading the possibility of immediate economic gains for a growing risk of financial instability later.” – Mohamed El-Erian, former Pimco CEO POINTS TO PONDER 1, Although the US bond market… Read More

“We learn from history that we do not learn from history.” – Georg Wilhelm Friedrich Hegel (courtesy of John Hussman from his June 14, 2014 Weekly Market Comment) The next 20%? It’s not often when my colleague, Anatole Kaletsky,… Read More

“I don’t expect the consensus to be right, I’m just surprised by how wrong it has been.” – Fixed-income specialist Jim Bianco, referring to this year’s unexpected bond rally POINTS TO PONDER 1. While most economists have dismissed the US economy’s contraction in the… Read More