Actual Versus Perceived Risk & Beliefs
As the northern hemisphere summer rally unfolded, we warned that it was probably a counter trend (bear market) one and maintained a...
Media Center
- Aug 12
- 3 min
One Direction
Markets, whether in a bull market or a bear market, never move in one direction. As Dr. Burry noted on the bird app this week, in the...
- Jul 4
- 2 min
I am not Uncertain
A cliché we often hear is that markets hate uncertainty. That tends to wind us up because markets are always uncertain as human beings...
- Jun 23
- 3 min
The Panic Zone
It is clearly an understatement to say that the broad selling in equities became extreme last week. From our perch, that sets the stage...
- Jun 22
- 2 min
The Titanic Yen
The rally in the US dollar and depreciation of the Japanese Yen has become episodic. Clearly it has not gone unnoticed and is now the...
- May 31
- 2 min
Taming the Hurricane
It is an obvious point, but volatility is a derivative of price itself. From our perch, there has been a notable moderation in bond and...
- Apr 29
- 3 min
The Crash in Trash
The crash in trash (profitless technology companies) has been brutal year to date and from the peak in February last year (-40% year to...
- Apr 13
- 3 min
The Slope of Hope
The recent market obsession – inflation – wasn’t quite as bad as feared, with the core reading falling well short of the consensus...
- Mar 31
- 3 min
The (Unsustainable) Gap Between Actions & Promises
Oh boy, what a quarter it has been in markets. The round trip on the S&P500 (the global risk proxy) has been -14% from the early January...
- Feb 24
- 3 min
Has the Game Changed?
Abstracting from the short term price action, a key big picture question for investors is whether the game has changed? Put another way,...
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