Tuesday, March 16, 2010

Sustainable Return on Investment?

I read in the paper this morning that CalPERS' consultant thinks the fund's ROI will average 7.84% during the next decade. But a model is only as good as its assumptions.
I fear that Wilshire's model, like virtually every economic model in use, conceives of money as the independent variable, when in fact it must always be the dependent one.

Sunday, March 7, 2010

Big Business vs. Small Governments

Republicans like to pretend that government is all bad. But business is certainly not all good.