Canceling the Noise, Not by Bread Alone: Part XIX
Are the markets sending signals that run contrary to downbeat expectations? The latter includes IMF estimates for a global slowdown accompanied by recessions around the world, announced layoffs, lower earnings, accumulated disappointments due to losses in both...Lessons from 2022, and Initial Outlook for 2023: Canceling the Noise, Not by Bread Alone, Part XVIII
It is possible that last year marked a pivot in the markets’ trajectory that is being shaped by too much debt facilitated mainly by central banks, geopolitical risks, the deflating of paper-asset prices, the collapse of cryptocurrencies, the limited rising of...The Inevitability of the Predictable Tragedy: A Conversation Among Matthew Arnold, Lord Acton, Canaletto, John Lukacs, and Angelo Roncalli
As I was approaching the gate for my end-of-year flight to Montevideo, I could clearly see ahead of me Matthew Arnold and Canaletto. What I couldn’t see was a painting that Matthew Arnold was showing to Canaletto. As it has been happening for the last ten years in...Canceling the Noise; Not by Bread Alone: Part XVII
What kind of conclusions could we draw by looking at the two images below? The first one relates the economy’s orders to the S&P 500. Orders could be considered a leading indicator regarding forward earnings for S&P 500 companies. The downward trend of 2022...Preparing for 2023: Will it be Atë’s Chaos or an Orderly (Dis)Equilibrium that seeks its Metis and the Logos?
Over the course of 25+ years, we came to believe that inflation was dead, there was no alternative to stocks, interest rates will stay low forever, tech companies’ stocks will shield our portfolios from downturns, and that the big daddy, a.k.a. the Fed, will take care...Sign Up for Our Publications
