Commentaries

By: John E. Charalambakis | On: June 21, 2018 |

Market Swings and Policy Moods: Kafka, Verdi, and Pink Floyd

Whether President’s Trump’s threat of imposing additional tariffs on $200 billion worth of Chinese imports is a negotiation tool or a real threat remains to be seen. What/who also remains […]

By: John E. Charalambakis | On: June 13, 2018 |

Everything is a Political Theater, but a Political Theater is Not Everything

A few days ago, it was reported that Social Security will be tapping into the Trust Fund in order to pay its obligations. As our total indebtedness reaches $200 trillion […]

By: John E. Charalambakis | On: May 30, 2018 |

The Dollar and TIVA: An Overview of Turkey, Italy, Venezuela, and Argentina

The inverse correlation between the US dollar and emerging markets currencies is a well-known fact. That inverse correlation has been affirmed again over the last few months as the greenback […]

By: John E. Charalambakis | On: May 17, 2018 |

The Revenge of the Long-Term Cycle: Portfolio Enhancement

In late 1999/early 2000, the excitement of the internet and the dot-com exuberance attracted capital away from investments that require a medium to long-term perspective. The result was that supplies […]

By: John E. Charalambakis | On: May 10, 2018 |

Dollar Trajectory and Geopolitical Tensions: The New Thucydides Route

The dollar has been getting stronger at a time when the Chinese have started to price oil in renminbi. In simple statecraft language, such action by the Chinese could just […]

By: John E. Charalambakis | On: May 2, 2018 |

Market Isosthenia in a World of Etatism: The Triumph of Illiberalism

We live by appearances and as we pretend that all things are getting better and that debts do not matter we are becoming villains perpetuating a culture of Pyrrhonism[1] where […]

By: John E. Charalambakis | On: April 19, 2018 |

Leverage, Valuations, and Earnings: Algorithmic Complexities, Monetary Gamesmanship, and Capital Protection

This year’s market gyrations should be viewed under the microscope of leverage. When we do that as the first figure shows below, then we can possibly start comprehending that in […]

By: John E. Charalambakis | On: April 5, 2018 |

Is the Market Turning? Fundamental Changes and Cross-Determination

In this week’s commentary, we would like to discuss our perspective for the short-term based on some changes we have been observing in the market. However, before we show this […]

By: John E. Charalambakis | On: March 21, 2018 |

Rotation Strategies: Earnings Prospects and Fed’s Tightening Cycle

During times of accommodative monetary policies when rates drop and earnings prospects shine, growth stocks usually outperform value stocks. In a basic valuation model of discounting future earnings (especially for […]

By: John E. Charalambakis | On: March 7, 2018 |

American Leadership and Global Insecurity: Market Assessment

In security conferences around the world, speakers have been describing the rising threats and the rising level of insecurity, while at the same time wondering where the American leadership has […]