by John E. Charalambakis | Oct 14, 2015 | Commentaries, Uncategorized
In his 1984 Shareholder Letter, Warren Buffett wrote: “The corpse is supposed to file the death certificate. Under this ‘honor system’ of mortality, the corpse sometimes gives itself the benefit of the doubt”. This is an example of a magnificent delusion unfortunately...
by John E. Charalambakis | Oct 5, 2015 | Commentaries, Uncategorized
The Rolling Pyramid of Historical Financial Crises and the Moral Economic Imperatives: Distinguishing Causes from Symptoms We have noted in past commentaries that our global financial system moves from crisis to crisis due to the lack of an anchor. In the previous...
by John E. Charalambakis | Sep 28, 2015 | Commentaries, Uncategorized
In the art of war (in the general spirit of geopolitical and geoeconomic diplomacy) the opponent’s greatest strength happens to be his greatest weakness. Let’s take a look at a few examples. When we think of China, we usually think of its outstanding economic growth...
by John E. Charalambakis | Sep 17, 2015 | Commentaries, Uncategorized
The Fed decided earlier today to postpone the increase in short term rates citing global growth and disinflationary concerns. We believe that such concerns are overstated, at least for developed economies. We are of the opinion that if the Fed had finally started the...
by John E. Charalambakis | Sep 9, 2015 | Commentaries, Uncategorized
As we noted in our last commentary (http://stage.blacksummitfg.com/3181), we anticipate some volatility during the next few weeks, but we also expect it to subside and for the market to find its upswing trend during the last 10-14 weeks of the year. We are of the...