“The admiration of the present and succeeding ages will be ours, since we have not left our power without witness…We have forced every sea and land to be the highway […]

OPEC+ was born in the midst of the last oil crisis about five years ago. It expanded the traditional cartel of 14 nations and included Russia, Mexico, Kazakhstan, and few […]

The authoritarians Spartans invaded the democratic Athens in the spring of 431 BCE. The Athenians evacuated their estates – as Themistocles had taught them half a century earlier – crowding […]

This commentary (unusually longer than normal due to the circumstances) has three distinct parts: An update with our economic and market assessment, a brief presentation of graphs that portray economic […]

In this week’s commentary we employ lots of graphs, which in our humble opinion, tell us an unfolding story that might be full of challenges but also portfolio opportunities. So, […]

The market moves of this week have certainly garnered a lot of attention and inspired much ink to be spilled speculating on causes, meaning, significance, and future ramifications. Indulge us […]

The Fed cut rates yesterday by 50 bps. It was a move expected but not between meetings of the FOMC. Such a rush sent the wrong signals, generated some panic […]

The Coronavirus is spreading beyond China and that shook the markets both last Friday and even more so yesterday to the point that equity indexes are down for the year. […]

There is little doubt that the accommodative/expansionary monetary policy of the last 10+ years has been chasing investors and funds out the risk curve but also down the quality ladder. […]

The coronavirus has been credited with causing recent market volatility. In a single day last week, the gains made in January were wiped out, while this week the market gains […]