SEARCH
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “..I sat at my desk wringing my hands, transfixed by the tragic slapstick of British politics.. “We are in the biggest domestic political crisis of my life.. “This is only the second time I can remember when the normal, trivial business
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] Japan got there first. 15 years ago, we met a Japanese equity manager who made an astonishing prediction: “Japan was the dress rehearsal. The rest of the world will be the main event.” That seemed an extraordinary suggestion 15 years
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] It’s ironic that some of the most honest words to come out of a politician’s mouth were, “When it becomes serious you have to lie.” That was a quote from Jean-Claude Juncker, former Prime Minister of Luxembourg and President of
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] Rule #1 in central banking: Never go full Draghi. Mario Draghi, of course, is the President of the European Central Bank (ECB) who pledged to do “whatever it takes” to save the euro. Or was it save the world? We
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] So the British people have finally spoken. The Establishment, however, chose not to hear them, turning its perpetual tin ear to criticism from below. As the flag-bearer for an unaccountable, hypocritical and increasingly bewildered elite, Martin Wolf for the Financial
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “How foul this referendum is. The most depressing, divisive, duplicitous political event of my lifetime. May there never be another” – Tweet from the novelist Robert Harris. “Free at last, Free at last, Thank God almighty we are free at
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “Gross: Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode one day.” – Tweet from Janus Capital. Bill Gross’ warning is, of course, tautological. A supernova is
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “Suffice it to say that volatility and risk are not the same thing, but that for reasons which remain obscure most of the investment world chooses to treat them as if they are. The only one that makes any sense
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] JW: “..Someone like Neil Woodford, star investor, who set up his own fund; he says the fundamentals of the economy will be unmoved [by Brexit] either way.. RA: “Well I’m afraid that every, every serious economic forecaster would not agree
[Editor’s note: Tim Price, London-based wealth manager and frequent Sovereign Man contributor, is filling in while Simon is en route to Europe.] As human beings it’s in our nature to seek out a great deal. Whether we bag a steep discount on a new car, or stumble across that hidden gem of extraordinarily
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] On 23 June 2016, this British citizen will be voting to leave the European Union. To me it’s clear: the EU has not only become too big for its own good, it’s too big to do hardly anything good. Back
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] In their efforts to jam the square peg of financial theory into the round hole of human nature, economists have perpetrated some pretty stupid things. But few of them are dumber than the efficient market hypothesis (EMH). EMH states that
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “So there is another reason why Europe isn’t growing and it’s one the central bank can do nothing about. Namely, the 19 governments of the Eurozone and the super-state in Brussels have essentially outlawed it. If you want to know
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “The nonsense and frustrations we all witness in this industry every day is a red hot ember that drives us, a prime motivator to push back against the endless firehose of bullshit that the Wall Street machinery manufactures. The single
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “We don’t see a recession coming in the United States.” – Abby Joseph Cohen in a recent Bloomberg interview. US corporate profits are experiencing a “gut wrenching slump”, according to SocGen’s Albert Edwards, in a research note published last Thursday
