Very Short Reflections on Value
We invite our readers to watch this video which is wonderfully done. Euro Banknotes – Made to Last And now our simple and humble questions: How about fire? Would ever anyone offer €110 for €100 bill? If the answer to those questions is problematic, then what is...Market Records in the Midst of a Maturing Credit Cycle: How Would Cicero React?
The S&P 500 as well as the Nasdaq hit record highs on Tuesday. What’s next? Can we answer that question without considering the surrounding context and especially the stage of the credit cycle? Cicero used to say that context shapes decorum and the latter,...Echoes from the Riviera of Purgatory: Investing for the Future
“China is in deep trouble”; “China is recovering” “All hell is breaking loose with the trade war”; “We are very close to a trade deal” “Brexit on March 29th”; “Brexit is postponed” “Modi’s chances of reelection have been reduced significantly”; “Modi is expected to...The Bond Market and Investors’ Assertiveness
On March 28, the 10-year Treasury’s yield dropped to 2.34% due to exaggerated fears of an imminent recession. The drop in rates in the first quarter of this year (see graph below) and the inversion of the yield curve has created opportunities in both equities and...Sign Up for Our Publications
