A Journal of Independent Research, Analysis, Opinion and Insight
07 12 19 WOWS FULL ISSUE An Alternative Way To View Or Print The Entire Current Issue As A Single Document 7/12/19 Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
A Friendly Warning One Decade’s Investment Fads Rarely Survive 10 More Years 7/12/19 8:00 AM By Louis-Vincent Gave Is long term success in investing more easily achieved by picking winners, or by avoiding losers? Arguably, the second path takes a lot less work. The table below illustrates the point nicely; it lists the world’s 10 biggest companies by market capitalization at the beginning of each decade since 1980. [More]
More Of The Same Hoisington Management Sees Weakish Cycle, Lower Rates 7/12/19 7:00 AM By Van R Hoisington and Lacy H Hunt Real Interest Rates Before the world’s economies became so heavily indebted, the movement of nominal long-term government bond yields followed some fairly broad-brush strokes. Fluctuations in inflationary expectations, over time, dominated the trend in yields. [More]
Minimum Wage Hikes Jobs Impact Varies By Concentration Of Employer Hold On Market 7/12/19 8:00 AM José Azar, Emiliano Huet-Vaughn, Ioana Elena Marinescu, Bledi Taska, and Till von Wachter Why is the employment effect of the minimum wage frequently found to be close to zero? Theory tells us that when wages are below marginal productivity, as with monopsony, employers are able to increase wages without laying off workers, but systematic evidence directly supporting this explanation is lacking. [More]
Acute Observations, July 12, 2019 Perceptive Commentary from June 22-July 12, 2019 7/12/19 8:00 AM Pilar Gomez-Bravo “There’s an art to knowing when to leave the party. In fact it’s over — people are desperate and they’re hunting down the after-party. We probably only have a few hours left.” A Lehman Survivor Is Prepping for the Next Credit Downturn As reported by Cecile Gutscher and Laura Benitez Bloomberg July 9, 2019
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