Covid-19 and the Day After
Here is our take on the articles summarized below: While central bank policies and speculation have propelled markets to new highs in 2020, the global economy remains in a deep recession. The markets will not be able to rely on fiscal support forever and rising...
Taxes, Royalties, and Idea Generation
“The best business is a royalty on the growth of others, requiring little capital itself.” – Warren Buffett “Simplicity is the ultimate sophistication.” – Leonardo da Vinci Leverage does wonders to a business, both on the way up and the way down. We see it reflected...
Weekly Market Update
Global Market News Global equities continue their riseOverlooking the chaotic events in Washington D.C. this week, global equities made gains. The yield on the 10-year US Treasury note rose above 1.00% for the first time since the beginning of 2020, ending the week at...
Geopolitical Challenges and Statecraft
The world may be reaching another inflection point in the next few years. Instability (political, economic, social, financial) and upheaval may be reaching alarming levels. Consequently, the global balance of power may be shifting. The act of rebalancing the...
Assessing the Outlook of 2021: Part II
“I am not what I am”, Iago proclaimed in Shakespeare’s Othello, and I am also thinking of similar lines proclaimed by Arthur Dimmesdale in Scarlet Letter, Jay Gatsby in The Great Gatsby, Emma Bovary in Gustave Flaubert’s Madame Bovary, or Anna Karenina in Tolstoy’s...
Crossroads: At the Intersection of Geopolitics and Geoeconomics
Here is a summary of the most important events that unfolded last month, and which may affect economic, financial and geopolitical issues in the months ahead: North America After months of negotiations, Congress has finally passed a pandemic relief package. Though he...
Covid-19 and the Day After
Here is our take on the articles summarized below: The coronavirus pandemic has dramatically shifted the trajectory of the global economy, highlighting several trends that were already present before the pandemic such as digitalization, and corporate consolidation...
Geoeconomic and Geopolitical Options in the Day After: A Conversation with Eugene Delacroix, Charlemagne, and Paul Moritz Warburg
The end-of-the-year special flight has been a highlight for me for the last eight years since it’s not only a learning and entertaining experience, but also has served as an inspiration for the forthcoming year. Obviously, the question had been if, due to Covid-19,...
Geopolitical Challenges and Statecraft
The world may be reaching another inflection point in the next few years. Instability (political, economic, social, financial) and upheaval may be reaching alarming levels. Consequently, the global balance of power may be shifting. The act of rebalancing the...
What Does the Market Expect for Dividends?
"We have made very little progress in life by trying to outguess these macroeconomic factors. We basically have abdicated. We’re just swimming all the time, and we let the tide take care of itself.... The trouble with making all these economic pronouncements is that...
