Message To Active Managers: ‘Alpha Potential Always Exists’
Late last month, while revisiting the idea that US equities are a “perpetual motion machine”
Stocks May Enter ‘Prototypical Feedback Loop’
Systematic strats and the vol-control universe are “in motion” as 2022 gets underway, Nomura’s Charlie
Why Smaller Gains May Hold The Key For Stocks In January
Early Monday, in “Stocks May Enter ‘Prototypical Feedback Loop,’” I outlined familiar dynamics that could
‘Mad Cult’ Of Erdogan Begets Impossible Inflation Surge In Turkey
“We’re cutting interest rates. And we will all see how inflation will start falling within
Tesla Looks To Electrify S&P As Engine Starts On 2022
Notwithstanding a somewhat unfortunate smattering of headlines out of Hong Kong, risk sentiment was buoyant
Hong Kong Marks ‘Regrettable’ Start To 2022
It was an inauspicious start to 2022 in Hong Kong, where shares fell on the
Friendly Reminder: Some Of The Workers Aren’t Coming Back
“We’re not going back to the same economy as we had in February of 2020,”
What To Expect From 2022’s First Week
It’ll be back to the monitors, even if it’s not back to the office this
‘Imperious’ New Yorkers, Jaded Wall Street Stare Down COVID Tsunami
Market participants will get back to work this week. From home. Employees at Bank of
The Year Of The Abject: Making Sense of Nonsense
The emergence of 21st century Right-wing populism represents the biggest innovation on that terrain. Right-wingers
Onomatopoeia: The Guaranteed Dovish Fed Pivot
This is a bit of a broken record, but I’d be remiss not to emphasize
Stocks, COVID Enter 2022 Riding Unfathomable Surge
The first day of 2022 featured a somewhat awkward juxtaposition of headlines. Stories documenting the
This Crisis Requires Genuine Social Change
[Editor’s note: In “The Cost Of Procrastination: America’s Broken Economy,” I compared the haphazard character
The Best (And Simplest) Bear Case For Bulletproof Stocks
It’s fair to suggest the macro consensus headed into 2022 is that inflation will remain
World’s Wealthiest 10 Now $729 Billion Richer Since Pandemic
2021 was another good year to be rich. Every New Year’s Eve, I refresh the
The Cost Of Procrastination: America’s Broken Economy
“Whatever availability you put down when I hired you is what I expect,” a self-important
The Tragedy Of Inflation Inequality (By The Numbers)
Whenever I get the feeling I’ve talked too much about so-called “K-shaped” inflation (the phenomenon
US Jobless Claims Trendline Falls Below 200,000
US jobless claims hovered near a 50-year low in the week through Christmas Day. Initial
Why Goldman Expects Inflation To Settle Down In 2022
If at first you don’t succeed. Around this time last year, Goldman’s economic team projected
Howard Marks’s ‘Perpetual Motion Machine’ In The Pandemic Era
Back in 2017, long before I stopped reading his memos, Howard Marks delivered one of
Black Sheep In Hong Kong
Meanwhile, in Hong Kong. Stand News, a pro-democracy holdout, became the latest casualty of Xi’s
Two Economic Arguments You Probably Shouldn’t Make
Some things are obvious, but for various reasons, we choose to ignore them. For example,
In Red-Hot US Housing Market, 19% Surge Counts As ‘Cool’
The rate of appreciation in US home prices is slowing. Albeit only slightly. I’m not
Wall Street, Fed Too Optimistic On US Economy, One Bank Says
The apparent demise of Build Back Better will deal a blow to an already waning
‘Living With It’: Record Stocks, Record COVID
It’s an odd pairing. Record high equities and record high COVID cases, I mean. That’s
Everyone Loves A Rally
“We like this,” one CIO said, on the first day of the last week of
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