Portfolio Construction in an Era of Transformation: When Sophocles Met the Inescapable Smash of Ineluctable Forces, Part I
Whether we look north or south, east or west, we discover powerful forces that crown this era of metamorphosis and change. With this and the forthcoming commentary on Feb. 9, we would like to share with you our views of the most important forces which, in our opinion,...Productivity Trajectory and the Chinese Question: Portfolios and the Impact of the Incoming Administration’s Stimuli Packages
Last Thursday (January 14th), the team of the President-Elect proposed a new stimulus package close to $2 trillion. Within a few minutes, the markets reversed gains and ended the day down. The bond markets also sold off and the yields – while they were dropping in the...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...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...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,...Sign Up for Our Publications
