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	<title><![CDATA[david merkel Resources | BNET]]></title>
	<link><![CDATA[http://resources.bnet.com/topic/david+merkel.html]]></link>
	<description><![CDATA[White papers, case studies, business articles, and blog posts relating to david merkel]]></description>
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	<language>en-us</language>
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		<title><![CDATA[Pushing Yield Means Risky Debt]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F176883-pushing-yield-means-risky-debt%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  As bond investors go, I tend to focus on what can go wrong more than most, so when I looked at the cover of Barron&#8217;s today, I said, &#8220;Oh, no.  Pushing yield now?&#8221;   It&#8217;s no secret that most safe investment grade debt does...]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Mon, 07 Dec 2009 06:52:47 -0800</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/at%2526t+corp..html"><![CDATA[AT&T Corp.]]></category>
		<category domain="http://resources.bnet.com/topic/verizon+communications+inc..html"><![CDATA[Verizon Communications Inc.]]></category>
		<category domain="http://resources.bnet.com/topic/verizon+wireless.html"><![CDATA[Verizon Wireless]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">T</category>
		<category domain="http://rss.financialcontent.com/stocksymbol">VZ</category>
		<category domain="http://rss.financialcontent.com/stocksymbol">VZ</category>
		<category domain="tickers">T,VZ,VZ</category>
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		<title><![CDATA[On Sovereign and Quasi-Sovereign Risks]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F176207-on-sovereign-and-quasi-sovereign-risks%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I like investing internationally, because of the diversification it offers, both in stocks and bonds.  Or, think of it as a hedge.  Will the American Experiment continue to prosper?  We have come a long way from the Founding Fathers, and more than half...]]></description>
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		<pubDate>Wed, 02 Dec 2009 11:29:58 -0800</pubDate>
		<category domain="http://resources.bnet.com/topic/emerging+markets.html"><![CDATA[Emerging Markets]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Book Review: Warren Buffett on Business]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F176147-book-review-warren-buffett-on-business%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:    In the Fall of 2005, I was at the Annual Meeting of the Casualty Actuarial Society in exotic Baltimore, Maryland.  The Keynote address was by Roger Lowenstein who did a talk on two topics: Warren Buffett the great investor, and the looming problems...]]></description>
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		<pubDate>Wed, 02 Dec 2009 06:19:33 -0800</pubDate>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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	<item>
		<title><![CDATA[Buffett and the Forever Fund]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F173244-buffett-and-the-forever-fund%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  Imagine for a moment that you were approached by a very wealthy foundation, and they asked you to invest their money.  They offer a low asset-based fee, but the assets are so large that it looks like a dream to you.  Then they tell...]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Fri, 13 Nov 2009 06:13:01 -0800</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/burlington+northern+santa+fe+corp..html"><![CDATA[Burlington Northern Santa Fe Corp.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">BNI</category>
		<category domain="tickers">BNI</category>
	</item>
	<item>
		<title><![CDATA[U.S. Dollar: Time for Deeds, Not Words]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F173055-u-s-dollar-time-for-deeds-not-words%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  From Bloomberg, I quote our Treasury Secretary:   &#8220;I believe deeply that it&#8217;s very important to the United States, to the economic health of the United States, that we maintain a strong dollar,&#8221; Geithner told reporters in Tokyo today. by David Merkel]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Thu, 12 Nov 2009 10:44:35 -0800</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Opportunities in Dual Share Classes]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F166284-opportunities-in-dual-share-classes%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  My research sometimes takes me into the nooks and crannies of finance.  I know it is wonky, but I actually enjoy tearing into complex prospectuses in order get a sense of where value is.   One of my current projects is on large companies...]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Tue, 13 Oct 2009 11:24:14 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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	<item>
		<title><![CDATA[Penn Treaty Insurance: Death at Last]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F164579-penn-treaty-insurance-death-at-last%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:    Alas, but all good things in the human sphere come to an end. Penn Treaty [OTC:PTYA] is the biggest insurer failure since 2004.  Now, don&#8217;t cry too much.  The state guaranty funds will pick up the slack.  The banks are jealous...]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Sat, 03 Oct 2009 09:50:11 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/genworth+financial+inc..html"><![CDATA[Genworth Financial Inc.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">GNW</category>
		<category domain="tickers">GNW</category>
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		<title><![CDATA[Fallen Giant, by Ron Shelp: The Uneven History of AIG]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F163502-fallen-giant-by-ron-shelp-the-uneven-history-of-aig%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:    I am glad I read this book, but I found it less than satisfactory.  Why?  Wait a moment on that question, while I tell you about the book&#8217;s strong points, which I appreciated. by David Merkel]]></description>
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		<pubDate>Fri, 02 Oct 2009 10:26:58 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/american+international+group+inc..html"><![CDATA[American International Group Inc.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">AIG</category>
		<category domain="tickers">AIG</category>
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		<title><![CDATA[In Defense of the Rating Agencies, Once Again]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F162726-in-defense-of-the-rating-agencies-once-again%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I guess I am a glutton for punishment, but I am going to take the opposite side of the argument from what most have been saying of late regarding the rating agencies.  Those who want historical context can read my earlier three pieces:  ...]]></description>
		<s:doctype><![CDATA[External links]]></s:doctype>
		<pubDate>Tue, 22 Sep 2009 05:10:35 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/moody%2527s+corp..html"><![CDATA[Moody's Corp.]]></category>
		<category domain="http://resources.bnet.com/topic/mcgraw-hill+companies.html"><![CDATA[McGraw-Hill Companies]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">MHP</category>
		<category domain="http://rss.financialcontent.com/stocksymbol">MCO</category>
		<category domain="tickers">MHP,MCO</category>
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		<title><![CDATA[QUEASY ? QUantitative Easing Aids Speculators Yields]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F161862-queasy-quantitative-easing-aids-speculators-yields%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  Okay, I am going out on a limb here, so please understand that what I am saying is a bit of an experiment.  When quantitative easing was originally done in Japan, it was after:  a credit-fueled expansion that pushed the stock and real estate...]]></description>
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		<pubDate>Wed, 16 Sep 2009 10:48:47 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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	<item>
		<title><![CDATA[What Stories Aren't Being Told?]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F160878-what-stories-aren-t-being-told%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I did not start blogging in order to start a media career, but sometimes the media finds its way to my door.  I received a call Thursday from a reporter for one of the major television networks, and after talking a while, she asked me,...]]></description>
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		<pubDate>Thu, 10 Sep 2009 10:25:39 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/china.html"><![CDATA[China]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/american+international+group+inc..html"><![CDATA[American International Group Inc.]]></category>
		<category domain="http://resources.bnet.com/topic/fannie+mae.html"><![CDATA[Fannie Mae]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">AIG</category>
		<category domain="http://rss.financialcontent.com/stocksymbol">FNM</category>
		<category domain="tickers">AIG,FNM</category>
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		<title><![CDATA[Animal Spirits Are Eating the Green Shoots]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F159612-animal-spirits-are-eating-the-green-shoots%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I have never liked Keynes' concept of &#8220;animal spirits.&#8221; (I reread that piece, and though it is long, I think it is worth another read.  I try not to say that about my own stuff too often.)  Businessmen are generally rational, and take opportunities...]]></description>
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		<pubDate>Wed, 02 Sep 2009 06:39:51 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/american+international+group+inc..html"><![CDATA[American International Group Inc.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">AIG</category>
		<category domain="tickers">AIG</category>
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		<title><![CDATA[AIG Is Dead, Long Live AIG]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F158876-aig-is-dead-long-live-aig%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  When Robert Benmosche was named CEO of AIG AIG, I thought it was a good thing.  Ed Liddy, possibly tired of the abuse, wanted to move on.  Liddy was primarily skilled with personal lines P&C insurance, which was a small part of AIG, and...]]></description>
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		<pubDate>Fri, 28 Aug 2009 07:09:59 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/american+international+group+inc..html"><![CDATA[American International Group Inc.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">AIG</category>
		<category domain="tickers">AIG</category>
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		<title><![CDATA[A Stable Value Fund Guide to Commodity ETF Management: The Fusion Solution]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F157552-a-stable-value-fund-guide-to-commodity-etf-management-the-fusion-solution%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  This piece is one of my experiments where I try to straddle two different investment worlds in an effort to bring more understanding.  The two world are stable value funds and commodity ETFs.   Commodity ETFs have a hard job, in that they are...]]></description>
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		<pubDate>Fri, 21 Aug 2009 07:20:47 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/etf.html"><![CDATA[ETF]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Nine Notes on Residential Real Estate]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F156524-nine-notes-on-residential-real-estate%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I don&#8217;t really have one unified article type when I write here.  Sometimes I have a really strong conviction about something, and then it flows.  At other times, I gather data, do an analysis, and come up with a way of motivating it. ...]]></description>
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		<pubDate>Mon, 17 Aug 2009 07:06:43 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[20 Notes on Current Risk in the Markets]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F156088-20-notes-on-current-risk-in-the-markets%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  1)  A modest proposal: The government announces that they will refinance all debtors.  Not only that, but they will buy out existing debt at par, and allow people and firms to finance all obligations at the same rate that the government does for whatever...]]></description>
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		<pubDate>Fri, 14 Aug 2009 12:55:41 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Seven Notes on the China Wildcard]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F149512-seven-notes-on-the-china-wildcard%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  1) Is China really growing or not?  Wait, is that a stupid question, or what?  Of course China is growing, and pulling the global economy out of the ditch as well.  Read this report from Time.  Uh, maybe not.  What if...]]></description>
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		<pubDate>Fri, 17 Jul 2009 08:05:10 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/china.html"><![CDATA[China]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Did Goldman Gain from America's Pain?]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F148944-did-goldman-gain-from-america-s-pain%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  Wednesday I was featured at the New York Times &#8220;Room for Debate&#8221; blog, along with five others more notable than me.  William K. Black, economist, the University of MissouriYves Smith, financial analystMark Thoma, economist, University of OregonDavid Merkel, financial analystCharles Geisst, authorJeffrey A. Miron, economist,...]]></description>
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		<pubDate>Wed, 15 Jul 2009 06:08:19 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
		<category domain="http://resources.bnet.com/topic/goldman+sachs+group+inc..html"><![CDATA[Goldman Sachs Group Inc.]]></category>
		<category domain="http://rss.financialcontent.com/stocksymbol">GS</category>
		<category domain="tickers">GS</category>
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		<title><![CDATA[To Control Bubbles, the Fed Needs to First Control Itself]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F148279-to-control-bubbles-the-fed-needs-to-first-control-itself%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  I&#8217;ve written before about the Fed&#8217;s de facto triple mandate:  Low goods-price inflation.Low labor unemployment.Protect the financial system in a crisis.  Number 3 is the implicit obligation of the Fed, for several reasons: by David Merkel]]></description>
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		<pubDate>Sun, 12 Jul 2009 05:47:06 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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		<title><![CDATA[Systemic Risk Is Unmanageable]]></title>
		<link><![CDATA[http://dw.com.com/redir?destUrl=http%3A%2F%2Fseekingalpha.com%2Farticle%2F144590-systemic-risk-is-unmanageable%3Fsource%3Dbnet&siteid=23&tag=seekingalpha]]></link>
		<description><![CDATA[David Merkel submits:  Often when we talk about the Fed, we talk about a dual mandate &#8212; low inflation, and low labor unemployment.  But as I suggested at RealMoney many times, there is a hidden third mandate: protect the integrity of the banking system.   Often, ...]]></description>
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		<pubDate>Mon, 22 Jun 2009 06:42:00 -0700</pubDate>
		<category domain="http://resources.bnet.com/topic/us+market.html"><![CDATA[US Market]]></category>
		<category domain="http://resources.bnet.com/topic/financial.html"><![CDATA[Financial]]></category>
		<category domain="http://resources.bnet.com/topic/david+merkel.html"><![CDATA[David Merkel]]></category>
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