More than twenty years ago, the late Samuel Huntington coined the phrase “Democracy’s Third Wave”. By that Huntington described the three phases/waves of democratic revolution that the world has experienced, […]

One of my favorite authors is Isaiah Berlin. I consider his anthology of essays by the title “The Proper Study of Mankind” as one of the finest books published in […]

By Thursday last week we felt that given the markets drop by 5% this year, it was time to put some money to work by investing into companies with strong […]

I did not expect the last commentary to start becoming a reality so soon. In that last commentary I explained that the emerging markets look like prime territory for a […]

As noted from these commentary pages before, I believe that we have entered into a watershed period that will determine if in about two-three years the global economic system collapses, […]

Richard Koo has been known as the father of the “balance sheet recession” theory. The essence of his theory states that monetary policy becomes ineffective when interest rates drop to […]

In this third and final commentary regarding market trends and prospects in 2014, I would like us to concentrate on what we assess to be key-elements for equity markets as […]

I boarded the flight from Chicago to London. From the plane’s speakers I could clearly hear Tom Petty’s voice singing his song about “dancing in the zombie zoo”. “How appropriate”, […]