The Stingy News Weekly (11/17/2013)
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Markets are partying like it's 1999
"As a buyer of stocks, my preference is clear. I would like to buy stocks at more reasonable valuation, which should enable them to achieve good returns in the years ahead. That means I would prefer to see the market come crashing back down to earth sooner rather than later - provided it doesn't cause too much collateral damage along the way."
Where will the boot land next?
"But there is another kind of political risk: the temptation for governments of all political colours to change the rules, whether they relate to tax, the way that companies operate or how markets behave. And that risk has increased significantly since the 2008 crisis."
Paul Krugman's blind spot
"Few have written more about the European financial crisis since 2008 than the Nobel laureate, New York Times columnist, and Princeton economics professor Paul Krugman. After five years, it is clear that the eurozone has survived contrary to his predictions and the countries that pursued fiscal discipline, contrary to Krugman's advice, have done better -- both economically and politically -- than those that did not."
Confessions of a Quantitative Easer
"Even by the Fed's sunniest calculations, aggressive QE over five years has generated only a few percentage points of U.S. growth. By contrast, experts outside the Fed, such as Mohammed El Erian at the Pimco investment firm, suggest that the Fed may have created and spent over $4 trillion for a total return of as little as 0.25% of GDP (i.e., a mere $40 billion bump in U.S. economic output). Both of those estimates indicate that QE isn't really working."
A clever way to beat the taxman
"Many seniors would like to have the opportunity to claim RRSP deductions even after age 71 when their RRSP is no longer around. You can do this by contributing to a spousal RRSP if your spouse has not yet reached at 71 and still has an RRSP. Or, you can consider a 'senior's overcontribution.'"
Different strategies find common ground
"Two recent but different research papers on the mechanics of withdrawal strategies find some common ground against the conventional wisdom while sharing some aspects of the popular "bucket" strategy, in which assets are segmented by certain categories."
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