Market Mosaics & Timomachus: Equity Optimism and Rising Yields
The Agricultural and Industrial Revolutions changed the economic, financial, political, social, and scientific landscapes when they took place in the 18th and 19th centuries. AI is destined to have the same impact. It has already made its significant mark in research...Empyrean Realms and Tawdry One-Arm Bandits: The Commandatore Comes to Dinner
The chart below uses data from the AAII portfolio survey, ICI assets under management, and the Fed’s own data on financial variables. Taking a perspective of forty years, one must conclude that investors live in empyrean stock realms, while systemically departing from...Paradoxes and the Agora
Once, Henry Kissinger observed that “the attempt to achieve the ultimate in a finite period of time can produce extraordinary disasters.” The agora of ideas demands the best possible answers. The agora of policymaking/strategy demands preparation for the worst...Coup d’ Oeil: Crossing the Waters of Wartime Investing
Louis XVI had his own Machiavellian vested interests in mind when he decided to assist in the American war for independence. His reward was a lost throne, a guillotine, and a number of un-Machiavellian claims related to universal rights. The French Revolution a few...Sign Up for Our Publications
