Finally, the Obama era in the US has come to an end. We can only to smile to the army of “orange man bad” enthusiasts imagining their ship only just starting to sink. The most amazing aspect of the last 2 months of US election activity is the fact that most “orange man bad” enthusiasts seem […]
Not sure how many readers of these pages need reminding gold now trades at AUD $4156 on Sunday, 27th of October 2024. It is worth reiterating we could still be in early stages of precious metal investment recognition by many. Western institutional and retail investment participation in this booming sector, as a % of investable assets, remains […]
There is a massive challenge looming in plain sight for asset prices in Australia but before we lay out this threat to long standing Australian domestic bliss, we must make a quick stop at the macro station. In the US, rapid 1% plus declines across the yield curve suggest markets are spooked by something more […]
Last week, voters in the UK sent the conservatives to the sin bin for a generation, voters are about to do the same to the incumbent left in France as the rest of Europe appears to be shifting to “the right”. Who knows what will happen in the US but at least the virtue signaling left can blame […]
“Hard times create strong men; strong men create good times; good times create weak men; and weak men create hard times.” G. Michael Hopf It’s interesting to cast our minds back to the launch of the US Fed’s initial “QE1” in December 2008, just after the TARP (Troubled Asset Relief Program) ran out. We wrote […]
As January washes up and the old, “as January goes so does the year” rolls out, let’s see if we can share some themes we think worth following for 2024. Starting with a World Economic Forum (WEF) Davos version of risk, courtesy of the WEF annual survey, based on a survey of 1,490 “leaders” – leaders […]
What a difference 2 weeks makes. Investors did not even bother to stop and consider why the US Fed policy makers made such an aggressive policy pivot last week, they just bought all the things. It’s not like the US Fed had an alarming set of inflation or job numbers, consumer sentiment is fine (according […]
Looks like it’s going to be another rough week for equity markets on the back of continued escalation in the middle East. Not sure what’s happening in Ukraine though, can someone tell us if things have wound up in Ukraine recently, news seems hard to come by. And what about the last $100B of “packages” […]
There was an important theme laid out by Herbert Hoover(1874-1964) back in the 1930’s. There are only 3 ways to meet the unpaid bills/promises of a nation. The first is taxation. The second is repudiation. The third is inflation. What do you think the current crop of Western global leaders think of this thesis? Invest accordingly. […]
“Chase after money and security and your heart will never unclench. Care about other people’s approval and you will be their prisoner. Do your work, then step back. The only path to serenity.” – Lao Tzu Serious disclaimer upfront: personal serenity, peace between the ears and any existing meditative state maintenance is your own responsibility […]
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