Rising geopolitical tensions during the first couple of days in the New Year may bring a rising risk premium. At the same time, China’s market turmoil (due to slowing manufacturing […]

I boarded the non-stop flight from Cincinnati to Paris. Walking down the plane’s aisle I discovered a special area can accommodate round-the-table discussions, just as in previous years. To my […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]