Commentary

Place Your Bets

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A few days before last month’s running of the 140th Kentucky Derby, the WSJ published a piece detailing six reasons why California Chrome wouldn’t win. Of course, the California-bred colt, a 5-2 favorite, dominated the field and took home the $1.2 million first-prize. No word on whether the sports editor has been reassigned. Against all odds, the CLO…

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Now Where Were We?

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When we last reported on market conditions two years ago the Dow had closed at 12,929. Today it stands at 16,408 – a 27% improvement. Greek bonds back in April 2012 easily yielded mid-teens returns. Last week a five-year Greek bond auction was seven times oversubscribed and priced at 5%. After the first sixteen games…

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