Nick Freiling

My blog & portfolio

Finance

Hedge funds love Hillary

From yesterday’s Wall Street Journal: Owners and employees of hedge funds have made $122.7 million in campaign contributions this election cycle, according to the nonpartisan Center for Responsive Politics—more than twice what they gave in the entire 2012 cycle and nearly 14% of total money donated from all sources so far. The lines around what […]

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The Fed’s new ‘regime-based’ concept

From a new paper by St. Louis Fed President James Bullard: The Federal Reserve Bank of St. Louis is changing its characterization of the U.S. macroeconomic and monetary policy outlook. An older narrative that the Bank has been using since the financial crisis ended has now likely outlived its usefulness, and so it is being replaced by a […]

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Larry White on lowering long-term risk

I’m taking Larry White’s Monetary Theory and Policy class this fall at George Mason University. Here’s a selection from his book, The Theory of Monetary Institutions on one interesting utilitarian argument for adhering to a gold standard. A more reliable unit of account lowers the risk of long-term nominal contracts, as we have just noted with respect to […]

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Brief musings on the market

The DJIA lost 3.57 percent today. Last Friday it lost 3.12 percent. This is nowhere near even the 20th worst day in the DJIA’s history—a 6.98 percent loss on September 29, 2008. But the past two trading days do represent the DJIA’s 19th and 20th worst daily point losses ever. Most economists think Greenspan’s Fed left […]

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Too much debt

From this great Blackstone piece: The whole world is suffering from too much debt.  As a result, growth almost everywhere is going to be slow.  I know you believe the problem is insufficient demand, but the major industrialized countries already have considerable debt and do not want to add any more to it to stimulate […]

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A new piece, and a great interview

Here’s my new piece at EnhancingCapital.com on interest-sensitive investments — a handy little read, I hope, for anyone concerned about how an interest rate hike might affect their portfolio. Then again, I still stand by my prediction from last December: The Fed won’t raise interest rates in 2015. Inflation is just too low. In fact, I […]

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Tech-bubble-talk on repeat

I haven’t posted in a while. I’ve been busy. I started a new job two weeks ago and I still have class three evenings per week. The job is great, though. I’m a research associate at a pretty cool market research firm here in the D.C. area. My coworkers and assignment are quite engaging. I […]

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My new piece, and a pet peeve

I have a new piece out at Enhancing Capital. Topic is booming stock markets and how to explain record-highs. On a related note, one thing that’s frustrated me lately is people’s willingness to ignore good news when it comes from the “wrong” source. Booming financial markets, for example, are happening. Perhaps you think the recovery […]

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Me on net neutrality

If you’re like most people, you’re hearing a lot about net neutrality but know almost nothing about it. It has something to do with the internet. President Obama likes it. Republicans don’t seem to get it, but they don’t like that Obama likes it. That was me a few weeks ago. Then I read up […]

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Draghi makes his case

Mario Draghi making the case for more stimulus to combat disinflation in Europe: The risk cannot be ruled out completely, but it is limited. The important thing is what inflation rate people expect over the medium term. Since June, we have seen that these expectations have declined. If inflation remains low for a long time, people might […]

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