Tag Archive: stocks

9) Markets

We are currently looking for an curator of this category. The aim is explain how to obtain sustainably nice returns on stocks and bonds. The focus here should be also on global macro. Sustainability is key: "buy today and sell far in the future", for example when you get retired. Publicity for own books or publication is allowed.

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SNB Q1/2014 Results: 1.7% annualized Yield on Seigniorage, 2% annualized Loss on FX Rate Change

results estimate snb 2013 fx gov. bonds corp. bonds gold stocks interest incime stab. fund total
The main task of a central bank occupied with QEE (quantitative easing or exchange intervention) is to obtain higher gains on seigniorage than it loses with its "ever appreciating" currency. Otherwise its equity capital would be absorbed.

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The Fed Poisons The Stock Market

The Fed has pumped trillions of dollars into the financial system since 2008. The unintended consequences of this bank bailout have spilled over into the markets. Fed money injections go directly into bonds, tending to push up their prices.

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In Which Positions Does the SNB Win and Where Does it Lose Money: Details on the Q3 Results

2013-10-30

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2013-10-30

UPDATE October 31, The official press release focused on the results for Q1 to Q3. The loss was 6.4 billion after a 7.3 bln. CHF loss in the first two quarters. Over all three quarters especially gold and the yen weakened the central bank’s positions. For the third quarter, it means that income was positive … Continue reading »

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Our Detailed Estimate of SNB Q2 Results: 17 Billion Francs Loss, The Reality 18 Billion

2013-07-30

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2013-07-30

Swiss National Bank
UPDATE: July 30th, 2013: Our estimate for the quarterly loss missed the reality by 1 billion francs. The quarter results: 18.3 billion francs loss. The loss for H1 was 7.3 billion CHF. July 1st 2013: We estimate that the Swiss National Bank (SNB) obtained a loss of 17.3 billion francs in the second quarter 2013. … Continue reading »

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