The Eternal Triangle

Are equities ‘overpriced’ and if so, by how much? What about bonds or that largely forgotten asset-class, commodities? How do the three of them inter-relate and can we take advantage of such behaviour in order to build a better, more macro-resilient portfolio?

We take a detailed look, here, in the presentation found by clicking on the link:

17-10-18 Assets

Once through with feeling

Some readers may be interested in putting a voice – and even a face – to the author. Below are links to three recent audio-visual publications in which I discuss US & Chinese macro as well as the interrelations between the three great asset classes of stocks, bonds, an commodities. Following on is a wider sampling of my views. Continue reading

Patience, Bund bears! Patience!

No, Mario is NOT about to give up Рwhatever! China monetary trends might mean the industrial earnings cycle has peaked. US debt levels are still OK, but the low cost is promoting slightly worrisome growth Рnor are Tech balance sheets entirely without blemish. Commodities Рclueless and friendless.

Please click for the latest Monitor

17-06-28 M4 No 6

 

Certain, clean & Swiss??

Going into to their 21st May referendum on energy policy, the Swiss find themselves confronted by some dreadfully misleading propaganda – issued not just by the usual motley crew of environmental extremists and green rent-seekers, but also by a government whose own tortuously-constructed programme is at stake in the vote.

Continue reading