The mark of a true statesman (really, of any leader) is magnanimity combined with moderation, justice, courage, foresight, prudence, a genuine concern for the public good, and temperance. Which of these features should be […]

The year was 212 BCE. Archimedes was contemplating, and as he turned over his shoulder, he saw a legionnaire Roman ready to end his life. “Do not disturb my circles,” he shouted. […]

First a quick reminder about statistical errors: Type I error implies the rejection of a hypothesis that is true. Example: Nowadays, Google is a cheap stock. If the hypothesis is […]

With little doubt, we are at a historical inflection point from a geopolitical and geoeconomic perspective. The influence of Russia is shrinking (especially in the energy sector), Erdogan in Turkey […]

Many commentators have been discussing lately the similarities between the 1970s and the inflationary pressures of today. Others have expanded their analysis by incorporating stagflationary issues into their comments. We […]

Thursday, May 5th was quite brutal for both stocks and bonds. The Nasdaq dropped by 5% while the S&P 500 lost 3.6%. Of course, that was after Wednesday’s unexpected rally. […]

We all know it by now. The Nasdaq lost 13% just in the month of April and is down more than 21% since the start of the year. As for […]

Baffling Landscape One: By the time Grosseteste died in 1253, Oxford had become the Aristotelian stronghold. Two Franciscans who followed him pushed knowledge to new intellectual heights that not even Thomas […]

There are four issues that we would like to address in the current edition of this special series that we started on February 14th. Where should we park cash to […]

In the current edition of this commentary, we would like to focus on three evolving headwinds that sustain our skepticism about economic and market trajectories, namely: Trade flows, developing countries’ […]