By: John E. Charalambakis | On: February 14, 2018 |

Usual Suspects and Unusual Narratives: Markets Search for Direction but Natura No Facit Saltus

Should we always buy the dip? The strategy has worked over a number of years. Is this time different? The blame over the recent market turmoil has identified some usual […]

By: John E. Charalambakis | On: February 8, 2018 |

Market Turmoil, Portfolios and Commodities: Time to Diversify, Part I

As a starting point allow me please to summarize what we communicated to our clients during the recent market turmoil. First, let’s review what we perceive are the main causes […]

By: John E. Charalambakis | On: February 3, 2018 |

Tech Earnings, Gold Performance, and Bond Jitters: The Dollar Link

It seems that we may be in for another tech-earnings party today. As these lines are being drafted, Microsoft and Facebook are expected to report rising profits and anticipation is […]

By: John E. Charalambakis | On: January 25, 2018 |

Dollar Weakness and Economic Developments: What are the Implications and Where Might it be Headed?

At the beginning of 2017, it cost $1.06 (USD) to buy one euro. As of today, $1.235 is needed to buy the same euro. Does that reflect US economic weakness […]

By: John E. Charalambakis | On: January 10, 2018 |

Foreseeable Economic Prospects and Equity Markets: Sizing up the New Year

As a starting point, let’s briefly review a few of the forces that are shaping up equities in a positive trajectory during at least the first few months of 2018. […]

By: John E. Charalambakis | On: December 28, 2017 |

Sublime Madness Meets the Graveyards of Certainty: A Conversation Among Handel, Berkley, Shakespeare, and Bonhoeffer

I boarded my end-of-year flight from Cincinnati to Paris, excited of whom I would meet this year, and as I was boarding I heard a deep voice stating: “You have […]

By: John E. Charalambakis | On: December 11, 2017 |

Banks and Financial Stability: A Uniquely Transformational Story

In the last few days, we had three pretty interesting developments related to the banking sector around the globe: EU developments, Basel 3, and an IMF report regarding China’s banks. […]

By: John E. Charalambakis | On: November 30, 2017 |

Monetary Trends and 2018 Outlook: Searching for Value

The recent data on M3 (a broader definition of money supply that includes money market funds and large time deposits) show that its growth has been 6.5% (year-on-year) and actually […]

By: John E. Charalambakis | On: November 22, 2017 |

Valuation Fatigue and Credit Outlook: An Initial Assessment of 2018

Given the fundamental trends, we expect global growth to remain healthy in 2018, and therefore we also expect that the credit risk appetite will also remain healthy in 2018. Having […]

By: John E. Charalambakis | On: November 15, 2017 |

At the Corridors of Power: Markets and Geopolitical Developments

The proxy war between the Kingdom of Saudi Arabia (KSA) and Iran is intensifying and our fear is that it may ignite a regional conflict with far-reaching global consequences, especially […]