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…of making promises about what future FOMCs will do when the current members are replaced. But they still stress forward guidance effect over portfolio balance effects (which will be minor…

About Angry Bear

…international economics and international finance. I just celebrated the 25th anniversary of publishing SEER — my equity strategy product. I model the S&P industries and advise portfolio managers on how…

Patents, innovation, asset class, and weapon

…oil.” Ron Epstein, chief executive of Epicenter IP Group, agreed that pricing patents, especially large portfolios, was difficult. But he said he thought corporate trading in patents would become more…

QE III and bond yields

…al stress the importance of portfolio balance effects — the shift in the supply of risky assets to the private sector which can affect prices and returns without affecting expected…