Looks like we’re not the only one that is heavy in cash – Cohen moves most of his fund to money markets for the rest of the year.


Closed-end funds are bouncing off their lows, and by bouncing I mean rocketing up. Check out ETFConnect for a good screener.


Interesting quote from this article on junk bonds, which are trading at record spreads to Treasuries:

“The recent selloff has shocked junk investors, who had grown used to monthly returns in a range of negative 1% to positive 2%. Based on some statistical measures, September’s 8% drop should have occurred only once in 27,777 years, according to Leverage World, a weekly publication of Garman Research.”


Taleb, who knows a little bit more about real world distributions than the previous quote, has a fund that is up over 50% this year. (Hat Tip SB.)


Stocks for the long run? Iceland is down 92%. That means it will take an investor 27 years to get BACK TO EVEN (compounding at 10% tax-free).

Investing is risky.