Photo credit: Richard Mortel After World War Two, the US was the chief creditor nation of the world. Before the war, the country had a minor role in establishing the world order. However, after the war, the US enjoyed a stable political landscape, the most advanced technology, intact infrastructure back at home, and an enviable… Read More Trump’s trade war isn’t a sign of strength, it’s the opposite
As I’ve written before, stability in the economy, and in the financial markets, breeds instability. That screenplay has been used over and over again throughout history. We might say that one specific event changed everything, but that was just the match, the barrel of gas was already there, ready to burn. 2017 was the year… Read More Minsky Moment: The instability is accelerating
Gold (GLD) is seen, by the investment community, or even by society’s common sense, as a great hedge for uncertain times. However, the reason why this happens is not entirely understood. People tend to see gold as a safe-haven. Something that never loses its value, and however, that has not been the case during several… Read More How does Gold really work?
To my best knowledge, and years of experience in the markets, the Friday unnerved session is just that, an anxious day after what seems to be a U-turn by the Fed. I am an old-school macro-guy. That means that when the Fed signalizes a dovish stance, I see it as positive for stocks. If last… Read More Notes on Friday’s meltdown: Don’t let it fool you
MMT is attracting a lot of attention due to the proximity of the 2020 Presidential election At its core, MMT assumes a different money origin, which has repercussions in the way we interpret budget deficits and debt. The theory is an interesting exercise, but the risk of turning sour should make it unfit to be… Read More MMT is a cool, dangerous idea
In hindsight, it seems like Mark Bristow used the opening provided by the Newmont (NEM)-Goldcorp (GG) merger, to force a Barrick (GOLD) controlled Joint-Venture. The last couple of months have been heated in the gold industry (GLD), with the Barrick-Rangold merger taking the spotlight, followed by the Newmont-Goldcorp deal. Once the Newmont-Goldcorp deal was announced,… Read More Barrick and Newmont reached an interesting deal
(Photo credit: James Lee) Presently, the main doubt tormenting me is whether we are already in a long-term bear market or not. Everybody seems to hold the view that we are still some time away from it, and this is, precisely, what worries me. One of the most interesting facts about economic recessions and bear… Read More A Recession is coming… Or is it already here?
Summary Trade tensions are boosting the USD. Trade tensions and debt crackdown are depressing the Chinese market. Fundamentally, China remains a long-term bet and the time for asset rotation might be approaching. (Photo credit: Gage Skidmore) Let’s face it. China is on the rise; it is already one of the centers of a multi-polar world. However, trade… Read More China, U.S. Tension Is An Opportunity To Boost Your Portfolio For The Long Term
Photo credit: Gage Skidmore On a macro level, Trump’s tax reform is the topic of the moment. Basically, if approved, it will be positive in the short to medium term, but it will raise high risks for the future of the world economy. The fiscal program seems designed in a way that will increase the… Read More Trump’s tax reform is the tipping point for the future of the world
The market atmosphere is changing. The French election brought an end to another chapter of the European saga. It is time to reevaluate my investment plays. Most companies I own have good perspectives for future growth, but I don’t mind reducing positions in 2 or 3 stocks, especially, if they might face macro headwinds. Additionally,… Read More The Aftermath Of The French Elections: Revisiting Investment Plays