Doug Noland has been the Senior Portfolio Manager of the Federated Prudent Bear Fund and Federated Prudent Global Income Fund since December 2008. Prior to joining Federated, Mr. Noland was employed with David Tice & Assoc., Inc. where he served as an Assistant Portfolio Manager and strategist of Prudent Bear Funds, Inc. Prudent Bear Fund and Prudent Global Income Fund from January 1999. From 1990 through 1998, Mr. Noland worked as a trader, portfolio manager and analyst for short-biased hedge funds including G. W. Ringoen & Associates from January 1990 to September 1996, Fleckenstein Capital from September 1996 to March 1997 and East Shore Partners, Inc. from October 1997 to December 1998. He earned a B.S. in Accounting and Finance from the University of Oregon and a M.B.A. from Indiana University.
Editor’s Note: Consistent with our ongoing determination to publish in-depth analysis along with the more digestible tidbits that should never be an exclusive source of political and economic analysis and commentary, here is a 2,400 word piece that exposes and dissects the sources of instability and speculative excess in global financial markets. Anyone who has...
By Doug Noland
Earlier in the week BlackRock’s Larry Fink commented on CNBC: “A Bubble is predicated on leverage.” Fink was implying that he didn’t see the type of leverage that had fueled the previous Bubble. As part of my Bubble analysis framework, I have posited that the more conspicuous a Bubble the less likely it is to...
By Doug Noland
a new form will got here