Is a Secular Bear Knocking at Market’s Door? The Escalator of Spending
We are crossing correction territory (a drop of more than 10%) for some equity markets in developed countries around the world. This has brought questions about the possibility of a secular bear market (a drop of more than 20%) that will wipe out stocks. The causes...Market Sentiment and Residual Confusions: On the Finite Unpredictability of Uncertain Outcomes
Yesterday, the South African Rand lost 10% of its value. The South African economy is viewed as unstable due to its domestic politics (the President changed the Minister of Finance twice within a week) as well as its dependence on exports to China. The reality of a...At the Dawn of 2016: Where the Credit Cycle Meets Geopolitical Tensions and the Earnings Yield
Rising geopolitical tensions during the first couple of days in the New Year may bring a rising risk premium. At the same time, China’s market turmoil (due to slowing manufacturing activity as well as expiring restrictions on share sales) is impacting markets in...How then Should We Invest? A Conversation with Francis Bacon, Descartes, Heisenberg, Israel Kirzner, Byron, and Francis Schaeffer
I boarded the non-stop flight from Cincinnati to Paris. Walking down the plane’s aisle I discovered a special area can accommodate round-the-table discussions, just as in previous years. To my left I saw Bacon, Descartes, and Heisenberg. On the right side were...Strategic Assets and Strategic Mistakes: Tactical Moves for 2016 and Planting COG Seeds for the Day After 2016 (Investment Paths Series, Part IV)
It’s so wonderful to have friends who teach you about some great moments in history that could have been pivotal for the world we live today. A few days ago, I was visiting with Dan Schechter in Los Angeles – principal of L.E.K. Consulting, a prominent global...Sign Up for Our Publications
