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    • 3RD QUARTER 2015 - GO WEST (AND EAST, NORTH AND SOUTH)

      3RD QUARTER 2015 - GO WEST (AND EAST, NORTH AND SOUTH) 10-01-2015

      Humans have inhabited the earth for what is a mere blink of the eye. The Universe was formed around 13 Â billion years ago, the Earth 7 billion ...

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    • YOGI

      YOGI 09-24-2015

      Baseball, more than any other sport, by far, has drawn its share of colorful characters. I don't know why that is, but it is.This week, we lost one of ...

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    • DROP (IN THE BUCKET)

      DROP (IN THE BUCKET) 09-15-2015

      Markets will fluctuate, as Pierpont Morgan caustically observed. And "fluctuate" means down as well as up. Perhaps I, too, am being caustically ...

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    • MAULED

      MAULED 09-11-2015

      Investors in Emerging Markets could be forgiven for feeling as if they've gone 15 rounds with Ronda Rousey (see below). Or, more like 3 years with ...

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    • JOBS

      JOBS 09-04-2015

      Markets have taken today's employment release as evidence of a weakeningjobs market. A mere 173,000 net new jobs were added in August, below the ...

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    • PICKING UP THE PACE

      PICKING UP THE PACE 08-28-2015

      Lost amidst the market turmoil this week were a number of reports of a strengthening US economy. Consumer confidence soared last month, as did new ...

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    • JOLT

      JOLT 08-25-2015

      Two weeks ago (13 August, No Panic (Yet)) I noted that the renminbi devaluation was officially described as a modest alignment with market forces, ...

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    • LAND OF BORAT

      LAND OF BORAT 08-20-2015

      I probably should not confess to enjoying Borat (full title:Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan), 86 ...

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    • NO PANIC (YET)

      NO PANIC (YET) 08-13-2015

      Earlier this week, China devalued its currency 1.9% against the US dollar. On one level, this is not a big deal. China's currency has been ...

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    • CRIMINALS IN DIAPERS

      CRIMINALS IN DIAPERS 08-05-2015

      Japan grew from the (literal) ashes of the Second World War to become the second largest economy in the world by creating products we all wanted. Some ...

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    • DRY HOLE

      DRY HOLE 07-29-2015

      Southern California just had the wettest July on record, the Angels were rained out of a home game for the first time in 20 years, and we're all ...

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    • HOT BIDDING

      HOT BIDDING 07-27-2015

      The housing recovery, from its worst downturn since at least the 1930s, has been steady, but much less robust than most had expected. There are many ...

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    • PLUNGING

      PLUNGING 07-24-2015

      Commodity prices are in free fall. The Bloomberg Commodity Price Index (5-year chart below) is off about 30% in the last year. Gold is dropping toward ...

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    • WILD, WILD EAST

      WILD, WILD EAST 07-13-2015

      The central planners in Beijing have gotten so much right for the past three decades, that they might be forgiven for believing in their own ...

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    • ???

      ??? 07-06-2015

      I'm not sure why the pundits were predicting the Greeks would volunteer to walk meekly to their certain ruin, but the vote yesterday apparently ...

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    • 2ND QUARTER 2015 - CLOSE HAUL

      2ND QUARTER 2015 - CLOSE HAUL 07-01-2015

      Sailing has been an inextricable companion of human development and civilization. Artifacts over 7,000 years old contain pictures of sail boats, more ...

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    • PUERTO POBRE

      PUERTO POBRE 06-30-2015

      An honest politician may be oxymoronic (or is just moronic?), or maybe it's the black swan that surprises us when seen. Either way, Alejandro Garcia ...

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    • DRAMA/DRACHMA

      DRAMA/DRACHMA 06-29-2015

      Here we go again, as Ronald Reagan used to say. Asian equities off 2-3%, Europe down 3-4%, Treasuries rallying, gold up. What's going on?The latest ...

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    • MORE ON RATES...

      MORE ON RATES... 06-26-2015

      A few days ago (Beginning's End) I suggested 2015 might turn out to be the worst year for bond investors in the past three decades. Here are some ...

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    • BEGINNING'S END

      BEGINNING'S END 06-23-2015

      In November 1942, with the Battle for Egypt under way, Winston Churchill addressed his nation with these words:Now this is not the end. It is not even ...

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    • PARTY LIKE IT'S 1999?

      PARTY LIKE IT'S 1999? 06-12-2015

      Some observers point to the eye-popping valuations for companies with little revenue (WhatsApp, e.g., bought by Facebook for $19 billion) as ...

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    • ANGELES WEALTH COMMENTARY

      ANGELES WEALTH COMMENTARY 06-11-2015

      A Secular Bull Market is generally defined as a long-term bullish trend consisting of larger bull markets and smaller bear markets or corrections. In ...

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    • JUNE GLOOM WILL FADE

      JUNE GLOOM WILL FADE 06-08-2015

      1024"June gloom" is what you get when a warming land mass meets a cooler ocean: a layer of marine fog that the sun burns off into afternoon haze. It ...

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    • YASOU!

      YASOU! 05-29-2015

      Let me stipulate up-front: I love Greece. Everything about it: the food, the weather, the history, the music, the people. Everything.But I wouldn't ...

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