Salient to Investors: Jack Schwager writes: As long as no one cares about it, there is no trend. All markets look liquid during the bubble but illiquidity after the bubble ends matters more. Markets tend to overdiscount the uncertainty related to identified risks and underdiscount risks not yet identified. Low-quality
READ MORE... →Salient to Investors: Carson Block at Muddy Waters said he stopped betting against Chinese companies this year after government agents hindered his analysts and harassed workers at his storage company in Shanghai. Block says China is protecting frauds by making it difficult to research short sale candidates, and has used intelligence and police agencies to deter
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