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...Current Thoughts on Earnings and Sentiment
“It takes the character to sit with all that cash and to do nothing. I didn’t get to where I am by going after mediocre opportunities.” – Charlie Munger Earnings season for the first quarter of 2021 has just begun and it promises to be one of the most interesting and...Reopening & Execution Risks: Earnings Expectations and the New Wave of Innovations in Historical Perspective
The reflation trade that started in late 2020 and uplifted the fortunes of banks, energy, and small cap stocks might be experiencing a pause lately. However, as shown below, the earnings expectations for the full year are robust and strong. The fact that the leisure,...Some Thoughts on Inflation
“The cure for high prices, is high prices.” Inflation has probably been the most debated and discussed macroeconomic variable of the past year. It’s been hotly discussed for much of the past decade as hysteria over QE/unconventional monetary policy has absorbed more...Considering the Economic & Portfolio Costs of Free Money: Modern Monetary Theory (MMT) & Practice
By: John E. Charalambakis & Dale Ahearn Monetary theory, which posits that a change in money supply is the main driver of economic activity, has played a central role in attempts to manage the economy. The three main levers used by the Federal...Sign Up for Our Publications
