Finding Yield In A Low Yield World – New White Paper!

Finding Yield In A Low Yield World - New White Paper! by Meb Faber

I’m writing this post from snowy Japan.  After a day of skiing, an onsen, and some sushi and sake it is easy to reflect on the state of the world.  This is a picture I took on top of a mountain in the Honshu region today:

Japan has long had low bond yields (their 10-year is currently around zero), but I never thought I would see this in my lifetime but lots of government bonds have negative yields.   At a recent shareholder meeting of the Daily Journal Corporation, Charlie Munger commented – ” [Negative rates]…surprised everyone, including economists who pretend that they knew it all along....