Commentaries

By: John E. Charalambakis | On: December 21, 2015 |

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, […]

By: John E. Charalambakis | On: December 11, 2015 |

Market Mispricing and Distortions: Liquidity and Credit Concerns

Over the last few days the markets have exhibited signs of fears and some distress. Diverging a little bit from our recent commentaries that dealt with the investment paths of […]

By: John E. Charalambakis | On: December 8, 2015 |

The Investment Paths of 2016, Part III: Ain’t Misbehavin’ and the Crossing of the Volatility Bridge

During most of 2015, investors had to worry about a Grexit, a China slowdown, a commodities bust, or a synchronized degradation of market expectations. At the dawn of 2016, we […]

By: John E. Charalambakis | On: November 29, 2015 |

The Investment Paths of 2016, Part II: From Risks to Opportunities

Much ado about nothing may end up being not just a Shakespeare play but also the reality that will sink in after the Fed starts raising short term rates. All […]

By: John E. Charalambakis | On: November 23, 2015 |

Diverging Asymmetries and Market Fragilities: Understanding the Investment Paths of 2016, Part I

Well-respected publications such as The Economist and The Financial Times have recently published extensive reports regarding the threats to the global economy from emerging markets’ debt. The fact is that […]

By: John E. Charalambakis | On: November 10, 2015 |

The Tranquility of Volatility: The Risk of the Uncertainty and the Pricing of Assets

It is an indisputable fact that the last ten months have been characterized by high volatility. The market breadth (defined as the number of advancing over declining stocks) has turned […]

By: John E. Charalambakis | On: October 25, 2015 |

Shifting Cycles and Portfolio Structures: Hand Me Another Brick to Build a Shelter From the Storm

As previously noted from this page, I believe that we are entering into a period where the forces of market risk, volatility, liquidity, and credit risk encompass a cycle whose […]

By: John E. Charalambakis | On: October 14, 2015 |

Financial Distress: Infatuations and Magnificent Illusions

In his 1984 Shareholder Letter, Warren Buffett wrote: “The corpse is supposed to file the death certificate. Under this ‘honor system’ of mortality, the corpse sometimes gives itself the benefit […]

By: John E. Charalambakis | On: October 5, 2015 |

The Rolling Pyramid of Historical Financial Crises and the Moral Economic Imperatives: Distinguishing Causes from Symptoms

The Rolling Pyramid of Historical Financial Crises and the Moral Economic Imperatives: Distinguishing Causes from Symptoms We have noted in past commentaries that our global financial system moves from crisis […]

By: John E. Charalambakis | On: September 28, 2015 |

On the Disruption of the Disruptors: The Redrafting of a New Chapter in Global Developments

In the art of war (in the general spirit of geopolitical and geoeconomic diplomacy) the opponent’s greatest strength happens to be his greatest weakness. Let’s take a look at a […]