The Fed decided earlier today to postpone the increase in short term rates citing global growth and disinflationary concerns. We believe that such concerns are overstated, at least for developed […]

As we noted in our last commentary (http://stage.blacksummitfg.com/3181), we anticipate some volatility during the next few weeks, but we also expect it to subside and for the market to find […]

As we reported in our Weekly Market Update over the weekend (http://stage.blacksummitfg.com/wp-content/uploads/2015/08/BFG-Weekly-Brief-August-29-2015.pdf), the US and the EU equity markets experienced one of their most volatile weeks. Over the course of […]

In the summer months of 1944 World War II had taken a clear trajectory. The deadliest war period in human history was approaching its end. At that time the US […]

If we took a five-minute helicopter view of the global economic landscape, what would we have observe? Starting from the country of the rising sun, we could say that Japan […]

It is an undisputed fact that the over-collateralization of assets (including toxic ones prior to 2008) and the securitization explosion that took place between 2000-2007, created the seeds of the […]

The tale of the last two-three weeks seems to have given room to a market upswing that is softening due to some rising concerns. Chinese government’s stock market intervention subsided […]

Most of us at some point were exposed to a great teacher. Joel Fingerman was that teacher for me. Joel taught me in one of his quantitative classes (Business & […]

Let me state it from the beginning: This Greek referendum is absurd simply because the government has failed its people, and also because the troika’s boneheaded mentality did not allow […]

Theories are not extracted from history. On the contrary, theories are needed in order to interpret history. Economic phenomena are ordered in accordance to definite laws. Understanding the relationships among […]