by John E. Charalambakis | Jul 6, 2015 | Commentaries, Uncategorized
Most of us at some point were exposed to a great teacher. Joel Fingerman was that teacher for me. Joel taught me in one of his quantitative classes (Business & Economic Forecasting) that the only certain thing about a forecast is that it will be wrong in one way...
by John E. Charalambakis | Jul 4, 2015 | Commentaries, Uncategorized
Let me state it from the beginning: This Greek referendum is absurd simply because the government has failed its people, and also because the troika’s boneheaded mentality did not allow her to cut a deal with the previous government last fall (if the latter had taken...
by Joel Charalambakis | Jul 3, 2015 | Uncategorized, Weekly Market Update
Market Action Markets started the week in the red across the world thanks to Greece’s abandonment of negotiations and surprise call for a referendum. Equities in the U.S. recovered some losses but still ended the week down more than 1% across the major indices....
by Thierry Malleret | Jul 2, 2015 | Uncategorized
The macro backdrop for the rest of the year is the following: (1) lower global growth (around 3%) than expected; (2) higher headline inflation prompted by oil base effects, but subdued core inflation; (3) sharp deceleration of growth across emerging markets (EMs); (4)...
by John E. Charalambakis | Jun 28, 2015 | Commentaries, Uncategorized
Theories are not extracted from history. On the contrary, theories are needed in order to interpret history. Economic phenomena are ordered in accordance to definite laws. Understanding the relationships among economic variables is pivotal in assessing forthcoming...
by Joel Charalambakis | Jun 26, 2015 | Uncategorized, Weekly Market Update
Market Action The major U.S. equity indices posted small losses on the week despite some pockets of strength within the market. The managed care and athletic apparel industries provided strong results this week thanks to a coming consolidation in the former and...