Don Luskin

Don Luskin is Chief Investment Officer for Trend Macrolytics, an economics research and consulting service providing exclusive market-focused, real-time analysis to the institutional investment community. You can visit the weblog of his forthcoming book ‘The Conspiracy to Keep You Poor and Stupid’ at www.poorandstupid.com. He is also a contributing writer to SmartMoney.com.

Jobless Recovery My Foot

The Bureau Labor Statistics released its payroll jobs report for March earlier this month, and the reported growth of 308,000 jobs for the month is a blessed relief in what has been called a "jobless recovery." But this should really be no surprise. As I first argued...

The 10-Year Mistake

With the Federal Reserve holding official overnight interest rates at 1.00%, the yield on the typical money-market fund is about one half of one percent, after management fees. With yields this low, you've got to be tempted to do something -- anything! -- to get more....

The New Yorker on Michael Moore

There is so much that is overpoweringly vile about Larissa MacFarquhar's portrait of Michael Moore in the this week's New Yorker, that it is hard to know where to begin. Start with the multiple layers of radical chic phoniness entailed in the New Yorker celebrating...

I’m Mad as Hell at PeopleSoft

Antitrust laws are supposed to protect us little guys, right? Think again. Here's the story of how PeopleSoft chief executive Craig Conway is using the antitrust laws to deprive his own shareholders of the opportunity to sell their shares at the best price. I'm a...

Bush or Kerry? You Bet!

I love markets. Just think of all the things they make possible. Whenever there's a way for people to trade with each other, they always find ways to make money and reduce risk. So whenever market principles get applied in new ways, the world becomes a better place....

The Fallacy of Insider Trading

With Martha Stewart going on trial this week, it's a perfect time to take a look at insider trading. From what I can tell, Ms. Stewart is being railroaded. And whatever the merits (or lack thereof) of the case against her, investors shouldn't be especially worried...

Great Investing Secrets Revealed

Successful investing all about having the right information. That must be why I frequently get emails from readers asking me what sources of investment information I like best, or where on the Web to locate this or that specific piece of data. So today's column is...

Advice for 2004

Last week was my 2003 year-in-review column. This time it's about 2004, the year ahead. I do think we'll have another good year. I'll explain why, but I'll also talk about what I see as one significant risk factor. And I'll give you an idea for how to invest in a way...

Politics Is One of the Drivers of Good Investment Strategies

Many of my readers can't understand why, as an investment strategist, I write so much about politics and government policy. Politics doesn't have anything to do with investing! Well, unless you slept through 2003, now you know that they do. The year 2003 was a...

Mutual-Fund Industry’s Campaign Against Independent Analysts

Think the Mutual-Fund industry's "late trading" and "market timing" abuses are scandalous? Well, I never quite saw what all the fuss was about. But now the mutual-fund industry is doing something that's really scandalous. It's engaged in a campaign to put America's...

Outlawing “Soft Dollars” Will Crush Independent Analysts

I've been a vigorous defender of the investment-banking and mutual fund industries against over-reaching shakedowns by regulatory vigilante Eliot Spitzer. But now, in at attempt to deflect attention from the scandals raised by Spitzer, the funds business has done...

A Giant Step to Improving “Social Security”

Last April, I had the opportunity to sit across a table from President Bush and discuss his plans for the economy. I asked him what his most important policy priorities were, and he gave me a refreshingly simple and direct answer: "In the first term we're going to cut...

Don’t Throw out the Mutual Fund Market, Because of a Few Bad Apples

Previously, I dared to suggest that maybe the mutual-fund industry isn't quite the "cesspool" that New York State Attorney General Eliot Spitzer says it is, and I criticized Spitzer and the Securities and Exchange Commission for panicking investors into dumping their...

Vanity Fair on President Bush’s Failures

Graydon Carter, the editor of Vanity Fair, may be the all-powerful arbiter of what's hot and what's not in celebrity culture. But now, having declared Paul Krugman a "national treasure," Carter is trying to reinvent himself as an angry liberal, devoting his monthly...

It’s The Tax Cuts Stupid!

Stock market punditry is a tough game, and victories are few and far between even for the best of us. So when a victory comes along, you do a victory lap. The third quarter's gross-domestic product growth rate of 7.2% was a big victory. Representing the biggest...

The Market’s “Retarded Potential”

For the last several weeks, the expression "retarded potential" has been rattling around in my head, without having any idea what it means. So I Googled it, and it turns out that it has something or other to do with the physics of electromagnetism. Lots of equations...

The NYSE: Use It, Then Lose It!

I hate the New York Stock Exchange. I admit it -- I hate the place. I always have and I always will. So even though I have no objection to executives earning huge salaries and bonuses, I've been positively tickled to see the NYSE dragged through the mud over ex-Chief...

 

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