Canceling the Noise, Not by Bread Alone: Part XIX
Are the markets sending signals that run contrary to downbeat expectations? The latter includes IMF estimates for a global slowdown accompanied by recessions around the world, announced layoffs, lower earnings, accumulated disappointments due to losses in both...Lessons from 2022, and Initial Outlook for 2023: Canceling the Noise, Not by Bread Alone, Part XVIII
It is possible that last year marked a pivot in the markets’ trajectory that is being shaped by too much debt facilitated mainly by central banks, geopolitical risks, the deflating of paper-asset prices, the collapse of cryptocurrencies, the limited rising of...The Inevitability of the Predictable Tragedy: A Conversation Among Matthew Arnold, Lord Acton, Canaletto, John Lukacs, and Angelo Roncalli
As I was approaching the gate for my end-of-year flight to Montevideo, I could clearly see ahead of me Matthew Arnold and Canaletto. What I couldn’t see was a painting that Matthew Arnold was showing to Canaletto. As it has been happening for the last ten years in...Canceling the Noise; Not by Bread Alone: Part XVII
What kind of conclusions could we draw by looking at the two images below? The first one relates the economy’s orders to the S&P 500. Orders could be considered a leading indicator regarding forward earnings for S&P 500 companies. The downward trend of 2022...Sign Up for Our Publications
