Category Archives: Equities

Hoping for Growth. Searching for Value.

Thanks very much to my old friend, Steve Sedgwick at Squawk Box Europe for the chat this morning. We looked at Growth v Value, the US v ROW, we touched on bonds and borrowing, money supply, inflation, lockdown, commodities & gold – all in under 10 minutes!

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Don’t Bank On It

On April 13th, a financial pundit with a wide media following made the following (loosely transcribed) proposition about US banking stocks: Banks won’t rally because rates -long and short- are too low; Japan is our marker – banks there falling while their US/EZ peers rose pre-GFC and have not made any ground since; vis-à-vis their EZ peers, US bank returns have long been anomalous, ergo their out-performance won’t be repeated. We demur in the main.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Squawk Box: Oil and more

Ahead of my remote appearance on CNBC Squawk Box Europe on April 3rd, I prepared a few notes for the guys which I am happy to share here with you. The main topic, ahead of the emergency OPEC meeting which briefly bolstered crude prices that week was, unsurprisingly, oil but we did also discuss the outlook for the wider economy.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Turning Japanese

A noted [monetary extremist] resident at GMU’s Mercatus Center fretted on March 20th that Japan’s efforts during 2001-06 to have the central bank finance deficits ‘didn’t work’ – i.e., they failed to ignite meaningful levels of wealth-sapping inflation. The reason? As our sage tells us, was that there was ‘no commitment… to a permanent expansion of the monetary base’ as expounded in the ratiocinations of that dark genius of modern central bank theorising, Michael Woodford. We replied:-

To access this post, you must purchase Annual Subscription or Monthly Subscription.

M4 Compendium (updated)

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Trade Wars: Blue-on-Blue

To access this post, you must purchase Annual Subscription or Monthly Subscription.

The Turn of the Tide

To access this post, you must purchase Annual Subscription or Monthly Subscription.