TMC#16! Lower real interest rates and credit creation help generating (the illusion of) increasing wealth: can it go on forever? Japan says ''not really''.
TMC#15! A measured approach to assess the pros and cons of gold and whether you need it in your portfolio. Spoiler: yes, you need it.
TMC #14! Only 5-10% manage to generate consistent excess returns over a long period of time and they all religiously follow a set of rules.
TMC#13! Money is a complex concept in modern finance, and we like to simplify things using M2 + ignoring financial transactions: that's not the way to …
TMC #12! Another week without ''regime change'': lower yields, tech > value, and the bond market ignoring a 5% CPI print. And don't miss my new, free p…
TMC #11! Real yields were stubbornly low in the 1940s, and I expect the same in the 2020s. That's about it with the similarities though: watch out for …
TMC #10! Mr. Bond Market got louder last week: further unwinding of reflation trades and resumption of secular trends. Where do we stand on The Macro C…
TMC #9! The private sector is over-leveraged and structural GDP growth is poor: we can't afford higher rates. The bond market knows it, and it's trying…
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