Thursday, August 03, 2017

RTHK Show Notes: soggy dollar repeating history

Despite America's  Treasuries yielding more than the Europeans' or Japanese', the dollar remains soggy.   But it has been since kickoff i... Read More >>

Thursday, July 13, 2017

Radio Show Notes: Repairing a Tesla with a horse-buggy manual

Central bankers are fighting yesteryears' wars: inflation bouts.  They run the risk of making severe policy mistakes which could trigger a mar... Read More >>

Thursday, November 03, 2016

Radio Show: the Fed, Europe and Hong Kong

  FED In its last policy decision before the US election, the US Federal Reserve has left interest rates unchanged. However, the monetary... Read More >>

Thursday, September 08, 2016

Radio Show: USA and EU

Why we get mixed signals from America's economy - and terrible vibes off Brussels' Diktats.  USA The latest Federal Reserve Beige Book re... Read More >>

Monday, July 04, 2016

Asset Allocation: Brussels fudge and Hong Kong's stale noodles

 Why you should underweight Europe and Hong Kong. 1.  Dominoes falling in Europe - where else might follow? Political as well as r... Read More >>

Thursday, June 23, 2016

BREXIT: investment implications & podcast

Talked to death already, we offer a couple of investment implications. Shouldn't the "BR" stand for Brussels? My position For w... Read More >>

Wednesday, March 16, 2016

Europe: why monetary stimuli cannot work

The ECB is chasing elephants with a pop gun. Investment implication.   Missing the point On 10th March we suggested that chasin... Read More >>

Friday, January 22, 2016

Bloomberg Show: Investment Strategies

How not to/ to invest your money: losers and winners on a national and sectoral level. Market Outlook  is the market rout over? Have we seen ... Read More >>

Thursday, December 03, 2015

China & HK residential property

My notes for a RTHK radio show today. Deflation in Europe; property issues in China and Hong Kong; the RMB as part of the SDR.  Investment im... Read More >>

Tuesday, June 16, 2015

Athens' chimerical debt repayment schedule

Academic as it sounds, here is Athens' repayment road map. She won't repay AND she stays in the Club!  "Chicken".  At least since 8th May... Read More >>

Tuesday, June 09, 2015

America's Economic Clock: Rates up and markets - first - down

America's Economic Time is improving; that is why we expect a rate hike as of September. On average , the market has fallen peripatetically &n... Read More >>

Friday, May 08, 2015

Greece: she wins game of chicken by 29/5

"GR" in Grexit should stand  for "Good Riddance". Yet another roadmap to oblivion. The Greeks keep winning this game of chicken!   T... Read More >>

Friday, January 23, 2015

Tactical volte face: go long Europe

Structurally bearish on Europe.  Readers know of my distaste for European politicians: they won't reform their economies, and can get awa... Read More >>

Saturday, October 25, 2014

Sunday's stress test results: just how much capital must be raised?

Tomorrow. Just yesterday we released a piece outlining a hitherto pretty disregarded event: the release of the European Central Bank's (ECB's)... Read More >>

Friday, October 24, 2014

Sunday ALERT: ECB's stress tests released

 Aberration. Our readers know that I work on about a six-month time horizon, so today's note is an aberration in that we are discussing s... Read More >>

Friday, June 06, 2014

Europe: Short it - II: Monetary policy is a non-sticking band-aid

Self-congratulatory politicians. Back on 21st May we already warned  that the European "recovery" is a dangerous chimera.  indeed, a... Read More >>

Friday, May 16, 2014

Strategic Asset Allocation: "So what do I do now?"

Recent market drubbings. No prizes for telling you the time by looking at someone else's watch.  Dollar-cost averaging. If you have ... Read More >>