Blood in the Streets
As the old saying goes, buy when there is blood in the streets. There isn´t blood on the streets of Moscow at present but is certainly a bloodbath in Russian equities. Russia´s main stock index, the MOEX, has fallen 60%…
What´s Gold “Worth”, Anyway?
Consumers, producers, and investors have traded gold since antiquity. Because of the longevity of its use as money, we know the price of gold further into the past than any other good. We usually understand the meaning of a price…
The Debt Ceiling: An Affectionate History
Remember the movie “Groundhog Day”? The protagonist, played by Bill Murray, is stuck in a cycle where he relives the same day, February 2, every time he awakens in the small town of Punxsutawney, Pennsylvania. The same events happen throughout…
Commodities for the Medium Run
In a recent post, I made the case that the run-up in stocks is drawing to a close. Even if this current bull market does not come to a close in absolute terms, then at least relative to commodities. Equities,…
The Demise of Evergrande is a Foregone Conclusion
China´s second-largest property developer, Evergrande, is in the news for its financial difficulties. Despite most people having never heard of the company a week ago, there is a broad consensus that its eventual default will bring pandemonium to the markets.…
Stocks or Commodities?
With US equities trading at record highs, investors have a difficult choice: what investment path should I choose to secure superior returns? The choice is normally between stocks and bonds, but with bond yields also near record lows, the choice…
The Chinese Market is NOT Set to Implode
With all the turmoil going around Evergrande and the Chinese real-estate market at the moment, it´s good to have some principles to set your bearings. Taking a step back and looking at the Chinese stock market objectively can shed some…
Argentina: The World´s Most Undervalued Stock Market
With the American markets at all-time highs, it could be time to start looking abroad for value. Argentina probably doesn´t pop into your mind when you think of investments, but the country is poised to offer more to the investor…
Uranium: Not all that glitters is gold
Sometimes when investing, the things you don´t do are as important as the things you do. In finance, noise refers to any information that serves to confuse the investor or misrepresent the underlying market trend. On a mundane level, noise…
