The results of the EU-wide stress tests on banks are out. The EU banks seem to celebrate that all is well. Catastrophe was avoided. The capital that some of them […]

The Age of Michelangelo, Raphael, Leonardo da Vinci, and High Renaissance was followed by the age of Mannerism, known by its artificial qualities. Two of the main characteristics of Mannerism […]

  Albert Camus wrote in his book The Myth of Sisyphus that “There is a metaphysical honor in enduring the world’s absurdity.” Without a doubt we live in a surreal […]

The backbone of fiction, poetry, and drama of current generations is a mirror image of the philosophical struggles of the previous generations. The writings of Aeschylus, Euripides, Sophocles, and so […]

This Thursday (September 18th), the people of Scotland are called to choose between going alone as an independent state or staying under the umbrella of Britain and the United Kingdom. […]

We are approaching the time when the ECB will pull the trigger and will start buying paper “assets” (i.e. someone else’s liabilities) in the ultimate hope of stimulating a paralytic […]

In the last few days we’ve observed geopolitical events taking place from the Middle East to Eastern Europe and from Africa to Asia, shaking the markets and molding expectations. The […]

In the last commentary our thesis was that the economic landscape does not suffer from secular stagnation but rather from a complex and confused disequilibrium that diminishes expectations. Rather than […]

We are dreaming. We desire utopias. We treat ourselves with placebo drugs and we are hypnotized by all of the above. The symptoms started in Japan in the early 1990s. […]

Over the course of the last few weeks equity markets has felt shocks, with the German DAX index dropping by more than 10% signifying correction territory. As we explained last […]