Trade Protectionism: A Balancing (of Payments) Act
Photo by chungking “The more troublous the times, the worse does a laissez-faire system work.” – John Maynard Keynes National Liberal Club lecture (December 1923) Although John Maynard Keynes, arguably the most famous economist in the history of the world, died more...
Fundamentals Will Trump Bullish Sentiment Over The Long-Term
Photo by Gajus “Get the fundamentals down and the level of everything you do will rise.” – Michael Jordan The stock market has been ripping upwards ever since the U.S. election on November 9th, with investors pouring more than $100 billion into U.S. equity ETFs during...
Bloodletting and Monetary Policy
“In March 1853 she was afflicted with a pain in the chest; her tongue seemed to be covered with a film; leeches failed to make her breathing any easier.” – Gustave Flaubert, A Simple Heart The practice of bloodletting in order to cure health ailments originated...
The Active (Value) Investor’s Manifesto
Photo by jayzynism. “I’m convinced that everything that’s important in investing is counterintuitive, and everything that’s obvious is wrong.” – Howard Marks, Co-Founder of Oaktree Capital Management Don’t let the conservative dress habits of the financial services...