Daily

Splintering I am in the process of editing a video at Real Vision where the founder, Raoul Pal, is talking to Dee Smith, the CEO of Strategic Insight Group. It's going to be released in early June. Interestingly, Dee Smith was making a lot…

It's the politics, stupid? Credit Writedowns is back. And right now, it's the politics that are on my mind more than the markets or the economics. I have had a long while to sit and think about what's been happening and where we're going.…

Quick note here Neutral Fiscal Policy I mentioned 'augmented fiscal stabilizers' and a neutral fiscal policy in the last message. And subsequently, I thought I should link out to a piece I published on these topics two years ago. Read that…

Treasuries as a political weapon If you don't have the right model of the economy and markets in your head, you can lose lots of money. Case in point is 'The Widowmaker Trade' in Japan where speculators misunderstood the limits of monetary…

Like yesterday, I have a few thoughts on the economic headlines below. This one is behind the paywall though and I am going to focus mostly on two topics. Yield curve inversion At its worst yesterday, the risk-off play saw the 10-year…

Trade and Currency Wars I am starting this article just ahead of the equity market open in New York. And S&P futures have the market opening down 1%. The market continues to be unsettled by the political uncertainty around the US-China…

A quick note here with a few thoughts on technology IPO companies with economic moats I use Slack every day at work. It is an essential internal communications tool for my job. And, as such, I see it as a company with relatively high…

The IPO market is hot As I wrote last night, IPO conditions right now seem nearly ideal for growth companies to come to market. The appetite for loss-making companies shows us that public investors are willing to overlook losses as long as…

Growth matters, profits don't Nearly 7,000 scooters appeared to be active in Los Angeles County in January, having logged a ride in the previous two weeks. By April, more than 5,500 of those same scooters appeared to be removed from active…

Today's jobs report in the US showed some fairly bullish headline numbers. Not only did the unemployment rate did to a 49-year low of 3.6%, but the monster 263,000 job addition was bolstered by net revisions of 16,000, bringing the total to…