The old anthem of imperial Europe cried out, “Hail, Europe, our true Fatherland”, and Italy nowadays enters its own phase of the Eurozone crisis. Italian bonds’ spreads over Germany’s Bunds […]

As of yesterday (July 4th), it seems that the European debt crisis is entering into a new phase, with the expected new downgrades of Greek paper by the major rating […]

The storm we have been writing about in the last three weeks seems to be gaining speed. The Greek debt crisis can open Pandora’s box and unleash sovereign debt, banking, […]

The war of words was in high gear this past week. German officials demanded participation of the private sector in a new Greek bailout package that is estimated to be […]

Last Wednesday the employment and production news had significant negative effects for equities. Major indexes dropped by close to 2.3%, the worst drop this year. Private sector payrolls increased insignificantly, […]

In the last several days, the markets’ focus has been back on the Euro-zone crisis. In a nutshell this is the chain reaction that the markets are afraid of: Greece […]

Emerging markets have grabbed a lot of our attention since 2008 and this priority of ours is considerably evident in our newsletters and commentaries since that time. It makes a […]

On June 1, the French-German channel called Arte will broadcast a controversial documentary titled “The Octagon System”. The website www.Rue89.com claims that the producer started the project in 2007, but […]

As a sort of preface for our newsletter next month we will briefly touch upon some general sentiments we hold for holding positions in assets that will rise with the […]

This commentary is a continuation of our theme that hard/real assets that are no one else’s liabilities – in contrast to financial “assets” – represent anchors in portfolios.  It also […]