Links worth reading

1. Megan McArdle has some interesting predictions about what won’t happen after yesterday’s healthcare vote.

2. Arnold Kling discusses why Modigliani-Miller just doesn’t apply in the real world. It is interesting that many of the differences happen to favor leverage.

3. Eric Falkenstein highlights the difference between a popular account and an accurate account of the recent bubble. It is too bad that people are seemingly hardwired to prefer stories with heroes and villains.

4. Scott Sumner vs. Paul Krugman on US policy as it regards China and its currency.

5. Michael Pettis looks at the potential impacts of a revaluation of China’s RMB.

About

I studied Bioengineering at the University of California at San Diego. While there I served as a trustee on the investment committee of the UCSD Student Foundation, a group that manages an endowment to fund scholarships. While in college I applied my interest in finance and economics by working as a summer associate at Clarium Capital Management, working part time my senior year, and joining full time when I graduated in 2006, staying there through August 2010. I am currently working as a portfolio manager at another global macro hedge-fund in the Presidio (And blogging about more directly market related ideas at their restricted blog). I’ve been focusing on quantitative finance, currencies, commodities, the interplay between finance and politics, demography and other long term trends.

Disclaimer: You shouldn’t consider anything on this site to be a recommendation or solicitation to buy, sell, or hold any securities or commodities. I’m not offering you investment advice. I or the company I work for may hold positions in securities that I mention.