Portfolio Rotation and Budgetary Considerations: Reflections from Pre-Socratic Thinkers
During the first and second phases/waves of the pandemic, stocks related to innovation, e-commerce, as well as to sectors that deal with digitalization, performed very well, beyond anyone’s expectations. As the pandemic started receding and the economy endeavored into...From Defoe and Locke, to the Birth of America, and the Evolving International Order: Seeking Portfolio’s Alpha
We are experiencing a paradigm shift: A geopolitical and geoeconomicshift accompanied by scientific, technological, financial, and energyevolutions. The world is changing, and we are changing along withit. Over the course of the last four decades, understanding...Price is What You Pay. Value is What You Get. Part II
“All of humanity’s problems stem from man’s inability to sit quietly in aroom alone.”Pascal I used the quote from Pascal above to close out a piece a couple ofmonths ago. In it, I lamented that investors seem obsessed with alwaysfinding monocausal explanations for...From Adam Smith and Isaac Newton to Helicopter Money and Superstrings: Crises, Niels Bohr, and the Nash Bargaining Solution
We believe that it is almost a universal belief that the Day After the pandemic our societies will be operating under new norms. The rising debts follow a parallel path with the rising geopolitical rivalry. The declining educational standards also seem to follow a...Market Perspective, Verisimilitude, and Punishment: Lessons from Euripides’s Electra
During a recent trip overseas, a client asked me why I admire Edmund Burk. The question should not have caught me by surprise as we frequently discuss the impact of politics on the markets, but my immediate reflection/answer was to quote W. B. Yeats whose poem “The...Sign Up for Our Publications
