Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

I would like GE and other companies to be more candid in terms of disclosing exactly how they do these things, ... If they grow earnings, then let's hear about it and find out how much comes from those types of maneuvers.

It's going to be difficult to stimulate the real economy in the U.S. at a faster rate than 2 percent and perhaps even less if we have that fiscal cliff in December or January 2013.

Bonds as an asset class will always be needed, and not just by insurance companies and pension funds but by aging boomers.

A bullish orientation towards the front-end of the curve therefore should begin to dominate bond strategies, combined with an avoidance of anything that carries those low-risk premiums that Greenspan finally diagnosed, ... Those assets include real estate, equities, high yield, corporate, and some areas of emerging-market debt.

When does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.