Flawed Assumptions
“Some people are so far behind in a race that they actually believe they’re leading.” – Uncle Junior, The Sopranos The Global Financial Crisis often serves as a landmark or reference point for a broad swath of discourse even today, and rightly so....When Leo Caprivi Replaced Otto von Bismarck: Bellicose Transitions, Pivots, and the Markets
The world got almost everything wrong about Xi Jinping prior to 2012 and even a few years after Xi took over China’s leadership. By 2017, it was clear that the Chinese dream of subjugating the rest of the world to its illiberal image would turn ugly in its domestic...Digital Currencies, T.S. Eliot, and the Land of Endless Money: Part II
In our August 10th commentary we touched on the parallels between T.S. Eliot’s poem Waste Land and the rehypothecation of assets/bonds (a dangerous endeavor that could undermine financial stability). Furthermore, the subliminal statecraft messages derived from T.S....Removing Friction
“You need a different checklist and different mental models for different companies. I can never make it easy by saying, “Here are three things.” You have to derive it yourself to ingrain it in your head for the rest of your life.” “Take a simple idea and take it...The Two Types of Corrections
As of yesterday’s close, the S&P 500 is up 19% in 2021 with the Nasdaq up just shy of 15% and the Russell 2000 up about 11.5%. This even though underneath the surface breadth has largely weakened since February (albeit there are pockets of improvement in the last...Sign Up for Our Publications
