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You might like my 2017 epic release: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets (Fifth Edition). Revised and extended with twice as much content.

9 thoughts on “Niall Ferguson: Paul Krugman’s Advice Will Lead Us Down A Road To Ruin

  1. Somewhere up there Herbert Hoover is hollerin’, “Amen brother!” …or um we hope he’s hollerin’ from up there and not from the other place. Look, I know a lot of Wall Street types have extended their beliefs about the markets into the general economy causing them to become enraptured with the discredited Austrian economics school, right wing politics and even libertarianism. I tend to keep my intellectual shelf space rather guarded. So when I check in here from time to time I’m really not looking for indoctrination. I’m sort of looking for information that has something to do with…hmm…I don’t know?…..TREND FOLLOWING?

  2. There are more than a few trend following items on this site (see most recent blog entries, for ex.), in my books and in my film, but I don’t hide the fact my belief is that government bailouts for everyone is ticking time bomb. In the long run that doesn’t work, whether for the big banks or creating government jobs by the boatload. Do I trade off that? No.

  3. You are right about big names extending their beliefs via their market fame. The two biggest names out there extending their beliefs are Soros and Buffett — both of whom can’t be described as Austrian, right wing or libertarian. In fact, they are the opposite.

  4. A wise man once said, “Let’s be frank: Anyone giving a view to a significant audience is obliged to be truthful.” Don’t you think a neutral minded person might be influenced by having to sift through the (519) items tagged “Economics” to enjoy the (511) items tagged Trend Following? After having been routed to your personal site from turtletrader.com or somewhere else? Isn’t the whole thing sort of bait and switchy? @ the end of the day it’s your show. So play it however you see fit. I just think the MOST honest thing to do is to separate out your other interest from the trend following stuff.

    On Soros we’re agreed, on Buffet I think his world view did more to shape his actions in the markets than his market experience did to shape his world view.

  5. Anyone who associates Herbert Hoover with Austrian economics or libertarianism has plenty of room on his “intellectual shelf space.”

  6. Donavan, while I came to my views through my own experience, it has been interesting over the years to find out that almost every trend follower whom I have met has shared similar views. Bill Dunn and Rich Dennis, as but one example, are both on the board at Reason. So, please by all means ignore the vast majority of trend following content and fixate on the one part you don’t like…with whatever extrapolation you need to make. My record of trend following coverage is there for all to see.

  7. Buffett’s world view is for taxes to be raised. He is supportive of the current President. He pushes that in a massive way. One of the reasons trend followers prefer less government, especially in the highly liquid markets, is that their strategies are not predicated on bailouts and favors from government leaders and the Fed. Buffett, on the other hand needs their assistance to stay afloat. Let’s not forget that the Buffett ‘way’ lays at the feet of government. If not for bailouts he was toast.

  8. “extended their beliefs about markets into the general economy.”
    ?
    What does Mr. Taylor think the general economy is, if not markets?
    Oops, forgot…the political fantasies of fiat currency, fictional reserve banking, coercive taxation, and, ah, yes, that sweet dream of the Left: “Regulation.”
    Now, there’s a path to an economy of efficient prices…
    Also wondered, who exactly has “discredited” Austrian economics? Those half-dozen socialist politicians in Norway, awarding Nobel “peace” prizes?
    Think cy has a point?
    Ignoring or denying ain’t the same as discrediting, after all.
    Mike’s points also bring up the issue of why some wealthy & visible figures like Soros, Buffet, Bill Gates, most of Hollywood want to tax the hell out of others, once their own fortunes are secure.
    Guilt notwithstanding, doesn’t it just mean they seek to block competition by others, in markets?

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