Executive Summary 1. Ordinary people aren’t very ordinary. Professor Deirdre McCloskey’s recent piece in The Wall Street Journal got us thinking about the roots of western prosperity — and suggested that current nervousness about populist movements around the globe may be missing the mark. Don’t be too alarmed by rising Read more…
Volatility Flash Points May Give Buying Opportunities Greece Greece is a country of about 11 million people and not really that significant in terms of its economic activity. Yet the shenanigans of the Greek politicians, the chronic tax avoidance by many Greek citizens, and the country’s habitual fiscal irresponsibility have Read more…
Investment Summary World economic optimism is rising, and as a result, demand for government bonds is receding. Inflation is starting to be felt in some Asian countries, especially India. We note that new jobs and higher wages are a trend in the U.S., and we expect this trend to gain Read more…
The China Bull Rages China’s domestic stock markets in Shanghai and Shenzhen have put on strong rallies since the middle of 2014. Recently, the China rally shifted into high gear. We believe this outperformance is being driven by the desire of the Chinese government to draw domestic investors into stocks Read more…
Executive Summary 1. Short-term fears, long-term prospects. Once again, we see some short-term volatility led by various market fears: of a Greek departure from the Euro, of a collapse of European banks or even of the common currency itself; of a “collapse” in the price of oil; of financial stresses Read more…
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