Anchors at a Time of Multiple Crises
The political crisis in France (which started with President Macron’s snap election last year following his party’s humiliating defeat during European Parliamentary elections) culminated last evening in the ousting of the Prime Minister (the fourth in two years). Mr....Political Systems, Anacyclosis, and Market Cycles: Polybius at the Trading Pit
There is little doubt that momentum, liquidity, and earnings have been driving the equity market higher. Market breadth (advancing stocks relative to declining ones) has been coming back following significant drops, leading the indexes to higher highs and higher lows,...Risk Appetite, Shocks, and Portfolios: When Solon Met Croesus
Embracing risk could be a liberating force from fear. It’s risk embracing that has elevated equity markets to very high levels (some would argue about overvaluation levels) and has also rewarded tech companies with record profit margins and consequently with record...The Narratives of Market Froth and Resilience: A Period of Interregnum?
When we look at different market sectors (even if we were novice market participants), it cannot escape us that the tech-related sector (which includes communication-related stocks) has supercharged above and beyond the dot-com era valuations, while defensive...Sign Up for Our Publications
