Ted Barnhart

Ted Barnhart has written 134 posts for The Austrian School of Investment Thought

Top Ten Investment Books for Austrian School Economics

The following are books that have had the most significant impact on my investment philosophy. Though that philosophy is heavily influenced by a belief in Austrian School Economics, only two of these books deal with Austrian Economics specifically. What they do provide, however, is education and wisdom on how real-world markets work, which has allowed … Continue reading

Chinese Currency Manipulation and the New “Giant Sucking Sound”

As Barron’s Up and Down Wall Street columnist Randall Forsyth wrote this weekend “for the currency markets, seven Chinese Yuan to the U.S. Dollar has become a milestone that seems as inevitable as Dow 20,000.” For decades Chinese officials worked to keep the Yuan artificially cheap in an effort to boost an export driven economy. … Continue reading

James Bianco on Bloomberg

Jame Bianco is President of Chicago Based Bianco Research. While not strictly an “Austrian” economist/strategist, he has long been writing and commenting on topics concerning Austrians such as credit expansion, central banking policy, politics and economics. He is certainly in the category of under the radar gurus (as in legitimate guru, not the carnival barker … Continue reading

Barron’s: Tax Tips for the Trump Plan

This week’s Barron’s magazine published an interview with Robert Willlens titled Advice From Wall Street’s Go-To Tax Man. Writer Andrew Barry describes Mr. Willens as “one of Wall Street’s leading tax and, financial-accounting experts. When hedge funds and other investors want advice on whether companies such as Yahoo! and Liberty Media can use the complex … Continue reading

Weekly Review and Sector ETF Performance

Weekly Review   The highly anticipated if hardly dramatic FOMC meeting on Tuesday yielded the expected bump in the federal funds rate by twenty-five basis points.  An indication of the potential for three hikes on 2017 was somewhat noteworthy, but then one should remember last December’s rate hike came with the pronouncement of an expected … Continue reading

Weekly Sector ETF Performance

  BIA Tracked ETF and Fund Performance Week Ended Dec 9, 2016 ytd Weekly 2016 9-Dec S&P500 SPY 12.83% 3.11% Dow Jones DIA 16.23% 3.10% Nasdaq 100 QQQ 7.71% 3.28% S&P Midcap MDY 22.65% 4.19% Russell 2000 IWM 24.20% 5.66% Dow Transports IYT 26.95% 4.04% 10 yr Treasury Yield ^TNX 2.27% 2.46% 30yr Treasury Yield … Continue reading

Bonds: The Price and Yield See-Saw

While many investors could correctly answer a question about the direction of bond prices when interest rates rise, understanding such a relationship at an intuitive level in an ever-changing market place can sometimes be elusive. One way to better conceptualize and understand the relationship between bond prices and interest rates is to think of price … Continue reading

After a Tough November for Bonds What’s Next for Investors?

Bond investors are in for a rude awakening when it is time to look at November account statements. While the ten-year treasury yield jumped from 1.83% to 2.37%, the Lehman Brothers Aggregate Total Return ETF (AGG) was down 2.68%. The 7-10 year Treasury ETF (IEI) was down 4.23% for the month, and the Long Term Treasury ETF … Continue reading

November Sector ETF Performance

BIA Tracked ETF and Fund Performance Month of Novermber 2016 ytd Monthly 2016 November S&P500 SPY 9.77% 3.68% Dow Jones DIA 12.53% 5.94% Nasdaq 100 QQQ 5.90% 0.44% S&P Midcap MDY 17.89% 7.88% Russell 2000 IWM 18.18% 11.06% Dow Transports IYT 21.19% 11.77% 10 yr Treasury Yield ^TNX 2.27% 2.37% 30yr Treasury Yield ^TYX 3.02% … Continue reading

Weekly Sector ETF Performance

BIA Tracked ETF and Fund Performance Week Ended September 2, 2016 ytd weekly 2016 2-Sep S&P500 SPY 8.23% 0.50% Dow Jones DIA 8.06% 0.57% Nasdaq 100 QQQ 5.30% 0.29% S&P Midcap MDY 14.04% 1.34% Russell 2000 IWM 11.50% 1.18% Dow Transports IYT 6.76% 1.68% 10 yr Treasury Yield ^TNX 2.27% (1/1) yield 1.6% 30yr Treasury … Continue reading

Weekly Sector ETF Performance

BIA Tracked ETF and Fund Performance Week Ended August19, 2016 ytd weekly 2016 19-Aug S&P500 SPY 8.31% 0.04% Dow Jones DIA 8.33% 0.04% Nasdaq 100 QQQ 5.42% 0.05% S&P Midcap MDY 12.71% 0.32% Russell 2000 IWM 10.09% 0.61% Dow Transports IYT 6.42% 1.57% 10 yr Treasury Yield ^TNX -30.40% 3.95% 30yr Treasury Yield ^TYX -24.17% … Continue reading

Friday Humor: Dilbert Worthy Quotes

  A magazine recently ran a “Dilbert quotes” contest. They were looking for people to submit quotes from their real-life Dilbert-type managers. Here are the top ten finalists: 1. “As of tomorrow, employees will only be able to access the building using individual security cards. Pictures will be taken next Wednesday and employees will receive … Continue reading

Weekly Sector ETF Performance

BIA Tracked ETF and Fund Performance 27-May Week Ended May 27, 2016 ytd weekly 2016 27-May S&P500 SPY 3.66% 2.31% Dow Jones DIA 3.69% 2.14% Nasdaq 100 QQQ -1.26% 3.44% S&P Midcap MDY 7.40% 2.95% Russell 2000 IWM 2.07% 3.44% Dow Transports IYT 3.90% 1.34% 10 yr Treasury Yield ^TNX 2.27% 1.85% 30yr Treasury Yield … Continue reading

Friday Humor: The Creative Accountant

  There once was an entrepreneur who was interviewing people for a division manager position. He decided to select the candidate that could answer the question “how much is 2+2?” The engineer pulled out his slide rule and shuffled it back and forth, and finally announced, “It lies between 3.98 and 4.02”. The mathematician said, … Continue reading

Yield Shopping: The Most Expensive Shopping You’ll Ever Do

  In an environment of ever falling interest rates, what is an investor looking for income to do? A recent cover story in Barron’s Magazine “How to Get Safe Annual Payouts of 7%”  illustrates some of today’s challenges in the fixed income world. The article offers that “yields of 5% and 7% are attainable, but you have … Continue reading

Tell Your Beneficiaries About Your Accounts and Policies

  Let them know how they will receive retirement assets and insurance benefits.   Will your heirs receive a fair share of your wealth? Will your invested assets go where you want them to when you die? If you have a proper will or estate plan in place, you will likely answer “yes” to both … Continue reading

Weekly Sector ETF Performance

BIA Tracked ETF and Fund Performance 20-May Week Ended May 20, 2016 ytd weekly 2016 20-May S&P500 SPY 1.32% 0.36% Dow Jones DIA 1.52% -0.06% Nasdaq 100 QQQ -4.54% 0.92% S&P Midcap MDY 4.32% 0.77% Russell 2000 IWM -1.33% 1.05% Dow Transports IYT 2.53% 2.41% 10 yr Treasury Yield ^TNX -18.50% 8.19% 30yr Treasury Yield … Continue reading

Friday Humor: New Business Opening

A new small business was opening and one of the owner’s friends wanted to send flowers for the occasion. They arrived at the new business site and the owner read the card; it said “Rest in Peace”. The business owner was angry and called the florist to complain. After he had told the florist of … Continue reading

April FOMC Meeting Minutes: The stakes are raised for June

  The Federal Reserved released the minutes for the April FOMC meeting yesterday. According to Barrons.com   the tone of the minutes was surprising hawkish and indicates the the Fed is ready to ready to hike rates at the meeting scheduled for June 14 and 15. While there were some dovish sentiments regarding the need … Continue reading

Doug Dachille on CNBC – Perhaps the Best Investment Mind You Haven’t Heard Of

  One of the best investment minds you have probably never heard of is Doug Dachille. Mr. Dachille is currently the Chief Investment Officer for AIG, who bought his firm to bring him aboard back in June of 2015. Read: 6 Things That Have Happened Since the Last Time the Fed Raised Rates I first … Continue reading

Weekly Sector ETF Performance

BIA Tracked ETF and Fund Performance 13-May Week Ended May 13, 2016 ytd weekly 2016 6-May S&P500 SPY 0.96% -0.47% Dow Jones DIA 1.58% -1.05% Nasdaq 100 QQQ -5.41% -0.08% S&P Midcap MDY 3.53% -0.86% Russell 2000 IWM -2.35% -1.15% Dow Transports IYT 0.12% -2.98% 10 yr Treasury Yield ^TNX 2.27% 1.71% 30yr Treasury Yield … Continue reading

Friday Humor: Looking for a Fourth?

Three unmarried men were waiting to tee off when the starter walked up to them and said, “You see that beautiful blonde practicing her putting?” “Her? Wow, she is beautiful,” they all said. “She’s a good golfer,” he continued, “and would like to hook up with a group. None of the other groups will play … Continue reading

Is the Gold Trade Back?

One of the longer running and at times nastier debates among the investment community may be set to ignite again. For some reason the debate on whether or not one should own some gold triggers emotions like few others – at least when it comes to finance. Indeed gold enthusiasts or gold bugs are called … Continue reading

Weekly Sector ETF Performance

Weekly Recap: Stocks finished down for the second week in a row.  Friday’s jobs report delivered a less than expected growth in payrolls of 160,000.   According to Briefing.com Fed Funds futures is pricing a a 50% chance of a rate hike at the December FOMC meeting. Also of note during the week was Puerto … Continue reading

First Quarter 2016 Sector ETF Returns

  BIA Tracked ETF and Fund Performance Q1 2016 2015 S&P500 SPY 1.33% 1.24% Dow Jones DIA 2.17% 0.09% Nasdaq 100 QQQ -2.09% 9.43% S&P Midcap MDY 3.74% -2.51% Russell 2000 IWM -1.47% -4.48% Dow Transports IYT 5.96% -16.92% 10 yr Treasury Yield ^TNX -22.47% 2.27% 30yr Treasury Yield ^TYX -12.58% 3.02% MSCI – International … Continue reading

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