Alphabet Soup of Recoveries
“The three most important words in investing are margin of safety.” – Warren Buffett There’s been an alphabet soup of hypothesized recovery patterns over the last two months as the economic consensus came to grips with the impending recession in the U.S....Balance of Power, Thucydides, Useful Idiots, & Covid-19: Part III, China and the Statecraft Dimension
“The admiration of the present and succeeding ages will be ours, since we have not left our power without witness…We have forced every sea and land to be the highway of our daring, and everywhere, whether for evil or for good, have left imperishable monuments behind...Is the Covid-19 Awakening Undercurrent Threats and Underwriting a Paradigm Shift? Markets, Statecraft, and the Dollar: Part II, the Oil Dimension
OPEC+ was born in the midst of the last oil crisis about five years ago. It expanded the traditional cartel of 14 nations and included Russia, Mexico, Kazakhstan, and few other oil-producing nations, all of which now control about 55% of global production and about...More Than a Virus: A Look at the Economy’s Fundamentals
The major U.S. stock indices just closed their worst first quarter in history. And yet it’s not hard to find plenty of optimism thanks to the rally seen last week where some equity indexes rose by over 20% of their lowest point. Morgan Stanley, earlier this week,...Is the Covid-19 Awakening Undercurrent Threats and Underwriting a Paradigm Shift? Markets, Statecraft, and the Dollar, Part I
The authoritarians Spartans invaded the democratic Athens in the spring of 431 BCE. The Athenians evacuated their estates – as Themistocles had taught them half a century earlier – crowding into the walled city and watching smoke rise on their horizons as the Spartans...Sign Up for Our Publications
