Odds ‘n ends today as we sift through the ideas on our virtual desk.
First up, Tim Staermose, Sovereign Man’s Chief Investment Strategist, had a note on SM’s blog today noting something that escaped our eagle eyes. Hedge fund manager John Paulson, who is said to have made more than $5 billion during the 2008-2009 financial kerfuffle, lost more than HALF of his investors’ money last year! [see Corzine, Jon]
His Advantage Plus fund was down a whopping 52%! What have we told you about funds??? Just sayin… The hilarious thing is that Paulson was betting on banks and other financial stocks.
But Staermose wasn’t posting just to gloat – he had some wisdom to impart. “Markets have been taken over by politics… which means that Paulson and many of his hedge fund cohorts must accurately predict what central bankers and politicians will do, correctly guess how such actions will affect the markets, and nail the timing,” he wrote.
He closes with an investment lesson that made us laugh: You know that old Wall Street saying–“The market can stay irrational longer than you can stay solvent.”
Speaking of politics, these political debates must be like car wrecks for people who still have or watch television. They are horrible, boring or bloody, but you can’t turn away from the carnage.
Speaking of the debates, it has been clear for months, if not years, that mainstream Republicans are scared witless about Ron Paul. They’ve tried everything, but their jibes draw more attention to him. Yes, the media pretended he was invisible, but the talk-show guys have really gone overboard raining ridicule and insults on him regularly.
Here’s a Jon Stewart video you’ll love no matter where you stand on the candidates: