Pork Bellies, I knew It…

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Orange juice futures are making headlines today, down 9% after screaming higher yesterday. “Here in New York they trade everything, Gold, Silver, Platinum, Heating Oil, Cocoa and Sugar, and, of course, Frozen Concentrated Orange Juice.”

Major Holders of US Treasuries

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Continuing on the treasury theme, below is a chart of the major holders of US Treasuries.  Of 10T marketable securities, Foreign holders own $4.5T and the Federal Reserve is the largest single holder at $1.6T. Click to Enlarge

Breakdown of the US Budget

posted in: Government Spending | 0

As an addition to the previous post: a graphical representation of the US Federal budget.  57.8% of the Federal budget is spent on Health Care, Social Security and Income Security.  How does the government accomplish any of these services better … Continued

Dogs of the Dow

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It’s still pretty early in 2012, but so far last year’s Dow losers have been performing pretty well.  On average the 10 worst performing Dow components of 2011 are up 5.6% this year (as of yesterday’s close).  By contrast, the … Continued

January 2012 Investor Letter

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Below is a letter that is written monthly for the benefit of Avondale Asset Management’s clients.  It is reproduced here for informational purposes for the readers of this blog.Dear Investors, I’m not sure that the change of a calendar year … Continued

Three Housing Charts

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With some calling for 2012 to be the bottom in the housing market, below are three housing market charts based on data from the Fed’s Flow of Funds report.  I tried to put together some less mainstream ratios for a … Continued

Global Historical CPI Pre 20th Century

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Milton Friedman’s famous quote on inflation explains that inflation is “always and everywhere a monetary phenomenon.”  The attached chart should come as no surprise therefore, that prior to the advent of strong central banks in the 20th century, global inflation … Continued

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