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Reflation, Rotation and Rebalancing
Reflation and Rotation are all the rage. But over time, re-balancing matters more.
Who Needs a Digital Dollar?
Recently, the idea of a digital greenback elicited support from US Treasury Secretary Janet Yellen and Federal Reserve Chair Jay Powell. Ultimately,
Central Bank Credibility
By tolerating an inflation overshoot, the Fed may be boxing itself in. Fine tuning is the stuff of hubris, and hubris rarely serves anyone
The US Military and the Capitol Mob
The disproportionate share of insurrectionists at the US Capitol with a military background are not representative of the armed forces as
The ESG Trap
This rapid embrace of sustainability and social purpose is understandable, and mostly welcome. However, there are dangers in the uncritical
Keep an Eye on What Really Matters
Investors have been unnerved by rising bond yields. But volatility is not the enemy. Keep an eye on what really matters — economic re-opening
Central Banking’s Brave New World
Leading central banks are now keen to take on responsibility for policy objectives they previously shied away from, such as reducing inequality
GameStop’s Lesson: Stop Mechanising the Investment Game
The GameStop saga is another symptom of serious maladies affecting our economic mind-body.
Scary Monsters
David Bowie’s ‘Let’s Dance’ may be catchier than ‘Scary Monsters’, but investors would be well advised to watch out for what lurks
Vaccine Solidarity Now
The G7 has an opportunity to demonstrate global leadership in the COVID-19 pandemic by making the success of the international COVAX vaccine-access
Schrödinger’s Bitcoin
Notwithstanding the recent spectacular surge in its price, Bitcoin will remain an asset without intrinsic value whose market value can be
A CEO’s Pandemic Lessons
The pandemic forced me to change my business model completely. In doing so, it challenged my long-held view that free trade, globalism and
How Deep Should Investors Swim?
Swimming against a tide pushed forward by massive policy stimulus seems likely to leave contrarian investors with little to show for their
A Presidential Prescription for De-Polarization
To unify the country, President Biden must offer a common message of shared struggle and sacrifice. Migration, by choice or coercion, is that
Actions Speak Louder than Words
US-China economic and trade relations need a re-boot. The rhetoric from both sides is encouraging, compared to the mishaps of the past four
Democratic Disagreement
Divisions among the Democrats are opening, with potentially profound impacts on a cyclical recovery, inflation, financial markets and longer-term
The Game Stops Here
The GameStop saga is not about altruism or financial democracy, more likely greed and a dollop of vengeance. But lessons ought to be drawn,
Biden’s Vaccine Challenge
In confronting the COVID-19 crisis, US President Joe Biden will avoid many of his predecessor’s mistakes, not least by heeding the advice
The US and China Must Cooperate in Space
Although the United States and China will likely remain at odds on many issues, President Joe Biden’s administration must also recognize
A Question of Valuation?
It has been said that stocks are not cheap and popular at the same time. Is it time to re-visit Robert Shiller’s well-known valuation metrics?
An Important Week
A combination of the peak of the 4th quarter earnings season, political wrangling over the Biden Administration’s proposal to stimulate
View from London
Europeans know the veneer of civilisation is thinner than we like to think. As President Biden is sworn in, we will be hoping he ushers in
Prejudice and the Fourth Industrial Revolution
Fighting prejudice must be a core policy aim for President Biden if he is to begin to heal America. But, doing so means confronting the dramatic