Commentaries

By: John E. Charalambakis | On: August 31, 2021 |

Digital Currencies, T.S. Eliot, and the Land of Endless Money: Part II

In our August 10th commentary we touched on the parallels between T.S. Eliot’s poem Waste Land and the rehypothecation of assets/bonds (a dangerous endeavor that could undermine financial stability). Furthermore, […]

By: John E. Charalambakis | On: August 10, 2021 |

T.S. Eliot in the Land of Endless Money, Rehypothecation, and Crises: Part I

We all have heard the parallels between the Covid-19 crisis and war. Close to eighteen months after we started being concerned about the possibility of the pandemic, Cicero’s words that […]

By: John E. Charalambakis | On: July 27, 2021 |

Avoiding a Prato Day in the Markets: The Day Machiavelli Comprehended Aristotle’s Notion of the One, the Few, and the Many

Machiavelli stood in one of the corners of the famous square convinced that nothing fails like success. The calendar read May 23, 1498. Outside Florence’s city hall – the famous […]

By: John E. Charalambakis | On: July 13, 2021 |

Economic & Market Outlook, Mid-Year 2021

John E. Charalambakis, Mohamed Ramzi Roshdi, Nicolas Abdelhak, & Eleni Buss As we look ahead towards assessing the markets’ outlook for the remainder of 2021, we have split our analysis […]

By: John E. Charalambakis | On: June 29, 2021 |

On the Fear Gauge, Germany’s Lamentation, and Chinese Celebrations

A survey conducted by Bank of America among over 200 fund managers revealed that the grand majority of them significantly trimmed their bond holdings. The reasoning behind such trimming is […]

By: John E. Charalambakis | On: June 22, 2021 |

On Rates, Monetary Policy, and Valuations: Is it Worth it to Take a Closer Look at Additional European Portfolio Exposure?

More than two weeks ago (on Friday June 4th), we sent an email message to our clients explaining that some metrics and trends make us uncomfortable. Furthermore, we discussed that […]

By: John E. Charalambakis | On: June 1, 2021 |

Portfolio Rotation and Budgetary Considerations: Reflections from Pre-Socratic Thinkers

During the first and second phases/waves of the pandemic, stocks related to innovation, e-commerce, as well as to sectors that deal with digitalization, performed very well, beyond anyone’s expectations. As […]

By: John E. Charalambakis | On: May 25, 2021 |

From Defoe and Locke, to the Birth of America, and the Evolving International Order: Seeking Portfolio’s Alpha

We are experiencing a paradigm shift: A geopolitical and geoeconomicshift accompanied by scientific, technological, financial, and energyevolutions. The world is changing, and we are changing along withit. Over the course […]

By: John E. Charalambakis | On: May 10, 2021 |

From Adam Smith and Isaac Newton to Helicopter Money and Superstrings: Crises, Niels Bohr, and the Nash Bargaining Solution

We believe that it is almost a universal belief that the Day After the pandemic our societies will be operating under new norms. The rising debts follow a parallel path […]

By: John E. Charalambakis | On: May 4, 2021 |

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 […]