Musings on Markets

Of all the items on a conventional accounting balance sheet, none gives me more trouble than goodwill. It is not an insignificant item for s...

In the next few posts, I plan to focus on the accounting inconsistencies that bedevil analysts. In particular, here are the items that I wil...

I have several posts on potential government default and riskfree rates. I noticed this story in Business Week. I know that this is only ...

I have assiduously stayed out of the health care debate that has dominated the news in the United States for the last year, since everyone i...

As many of you already know, I am a little fixated on the equity risk premium. More than any variable, it explains what happens in equity ma...

Last week, the Federal Reserve announced that it would increase the Fed Funds rate by 0.25%. While the increase was small and the overall ra...

One of my books, Investment Fables , is directed at answering one of the most puzzling questions in investments: How is that there seem to b...