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Any Idiot Could’ve Nailed Record Late-Year Bond Rally
Earlier this week, I noted that any idiot could've made a killing betting on a rebound in bonds following the bearish overshoot which pushed 10-year US yields as high as 5.02% in late October.
Forgive the indelicate cadence. It's not aimed at readers. Rather, it's an allusion to the ridiculous array of needlessly convoluted long duration "strategies" I saw peddled across publicly-available investment "services" and wildly expensive Substack letters marketed to the masses by an ever expanding co
This idiot made some money, thanks H.
I was a steady subscriber of Newsweek for 40 years until the paper version folded. It came to me on Tuesdays, as did Time. I especially remember a Newsweek issue which contained the results of a huge investigative piece describing the effect of the Boomers on our population and the likely results on all aspects of our lives for the next twenty-five years or so. Now, when this was published the Boomers were mostly all born and there wouldn’t be any more. Anyone with a copy of the Statistical Abstract could see the trend. Newsweek was the first to write about this in-depth. Time, it seems, hadn’t figured this out but lo and behold, the same Tues as the Newsweek piece hit the streets, Time had the same general cover. Time’s work on the subject was superficial but think of it, the simultaneous discovery of one of the top ten trends in 300 years of history by the two biggest news magazines. I started watching after that. What I saw was that Time and NW were doing the same big pieces every week. I could tell who was stealing from whom by the depth of work. Time was the copycat most of the time. Gee, I guess the trend is still there.
I like how your apparent New Year’s resolutions involve not only not pulling punches when it comes to geopolitical attrocity, but also naming names when it comes to others’ low-effort work lifting your material.
It’s more that I intend to go back to the proverbial basics a bit when it comes to my editorial cadence as it manifests on an article-to-article basis. Some of the stuff was getting a bit too professionalized.