Europe
July 14, 2016
Reaching the Top of the Wall of Worry Source: Bloomberg As we head into the June earnings season, the S&P 500 has finally rallied above the all-time high set in May of last year. In our letter on June 23, we examined whether U.S. stocks are expensive. We concluded Read more…
Europe
July 07, 2016
Market Summary The Brexit vote and the rise of anti-E.U. parties in Europe show that big changes are underway. Europe The coming changes will be more pronounced in Europe than in the U.K., although the U.K. will also suffer volatility and aftershocks as negotiations to start the withdrawal get underway. Read more…
Europe
June 30, 2016
Brexit — What Does It Mean? The British electorate has chosen to leave the European Union. This will not be instantaneous, but will take a few years to be completed. Some people view this as a political issue: Britain is tired of strange bureaucratic regulations from Brussels. Others see it Read more…
Commodities
June 24, 2016
Gold, Oil, Stocks, and the Return of Stagflation: Where to Find Profits in the Current Environment Late last year, markets had a pretty robust view of the path of U.S. interest rates in 2016. Reality has intervened, as it has a habit of doing; global market volatility has seemed to Read more…
Uncategorized
June 24, 2016
Gold, oil, stocks, and the return of stagflation: where to find profits in the current environment. What investments have the potential to perform well under the economic and market conditions that are taking shape around us? From many different angles, the concept of “secular stagnation” suggests that we are in Read more…
Europe
June 16, 2016
Polls, Polls, Everywhere, and Not a Drop of Certainty Markets are possessed by Brexit fears. The market selloff that began last week may have been prompted by dramatic poll data showing the “leave” vote pulling ahead of support by Brits to remain in the European Union. That’s prompting existential fears Read more…
Europe
June 09, 2016
Time For Bargain-Hunting In Europe?On Sunday and Monday we heard about two new polls in the U.K. — both showing the “leave” vote pulling ahead of the “stay” vote in the contest to determine whether Britain will remain in the European Union. The momentum was visible also among the U.K.’s Read more…
