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Amazon and the benefits of low prices
I have been meaning to write a blurb about Amazon ever since I saw a great article on the benefits of Amazon's low-price strategy a month or so ago. But a recent article in the Wall Street Journal about huge price cuts on Amazon's…
On Ireland’s bond success
I listed Ireland in two of my surprises for 2013. I wrote that Ireland’s government bonds do not outperform again. Greece outperforms this year. I also wrote that Ireland goes to OMT. The first prediction is probably more controversial…
Grillo: French Revolution without the Guillotine
Handelsblatt's Italian correspondent Katharina Kort had an exclusive interview with Italian politician Beppe Grillo about his ideas for change in Italian politics. The article is in German. However, I have read it and wanted to present a…
On Europe’s lower multiples
It's only fitting that I write something today on Europe's multiples since I wrote yesterday on P/E multiples in the US. What prompted this were two different articles.
On US equities’ multiple expansion
After I released my daily commentary a few weeks ago about S&P500 earnings, wages and multiple expansion, there has been a lot of talk about multiple expansion in the media. I think this talk is warranted because this is the crux of the…
Samsung Galaxy S4: Relentless Android product cycle will hurt Apple
In the mobile world, everyone seems to be in a frenzy over Samsung's next Galaxy smartphone. Apparently, Samsung is the new Apple, where product launches are media events par excellence, marketed to build anticipation. However, while…
Jeremy Grantham on the government debt problem
the US uses government money as the currency of account, there is no government budget constraint in the short or long run. Though even so-called Keynesians like Paul Krugman act like there is. The reality is that government can spend as…