Commentaries

By: John E. Charalambakis | On: February 25, 2020 |

Market Outlook: Demand-Side and Supply-Chain Risks

The Coronavirus is spreading beyond China and that shook the markets both last Friday and even more so yesterday to the point that equity indexes are down for the year. […]

By: John E. Charalambakis | On: February 18, 2020 |

Debt, Aristotle, and the Fed: A Virtuous Vice?

There is little doubt that the accommodative/expansionary monetary policy of the last 10+ years has been chasing investors and funds out the risk curve but also down the quality ladder. […]

By: John E. Charalambakis | On: February 6, 2020 |

Growth-Value Divergence and Other Obscurities

The coronavirus has been credited with causing recent market volatility. In a single day last week, the gains made in January were wiped out, while this week the market gains […]

By: John E. Charalambakis | On: January 27, 2020 |

Global Trade, PMIs, Transformation, and Market Implications: When Lincoln Read Whitman’s Poetry

The latest figures on global trade portray a picture of contraction. Have we entered into a period of deglobalization? The figures tell us a story of the longest period of […]

By: John E. Charalambakis | On: January 15, 2020 |

Earnings, Valuations, and Equity Markets

Looking back to 2019, we don’t think that it would be a stretch to claim that lower rates and the dovish approach by the Fed lifted up valuations and played […]

By: John E. Charalambakis | On: January 8, 2020 |

The Rising Turmoil in the Middle East and the Implications for Portfolio Hedging

There is no doubt that the death of Qassem Soleimani may become a stepping-stone for rising violence, turmoil, volatility, risks, and even a new war in a troubled region of […]

By: John E. Charalambakis | On: December 30, 2019 |

On the Dialectic Morals of Statecraft: A Conversation with Johannes Bredenburg, Spinoza, Corrie Ten Boom, Amartya Sen, and Sir John Templeton.

In the boarding area I could clearly see three distinct figures: Johannes Bredenburg, Sir John Templeton, and Spinoza. I knew that I was destined for another treat in this end-of-year […]

By: John E. Charalambakis | On: December 23, 2019 |

Assessing the 2020 Outlook: Part II

In last week’s commentary, we outlined our overall assessment of a decent start for 2020, but expressed our skepticism for the rest of the year (see Assessing the 2020 Outlook: […]

By: John E. Charalambakis | On: December 19, 2019 |

Assessing the 2020 Outlook: Part I

We started assessing the outlook for 2020 a few weeks ago. The truth of the matter is that we are facing two almost equally probable scenarios: The first one (adopted […]

By: John E. Charalambakis | On: December 10, 2019 |

The Titan has Fallen

Yesterday, was a very sad day for the US and the world. The economic giant Paul Volcker passed away. Paul Volcker by himself saved the economic system four times (with […]