Stock and bond prices may seem random on any given day, but there is deeper meaning about the state of the world if you know where to look. Beneath the prospects of a company or the durability of the current economic cycle, there are important messages about the world order that U.S. President Joe Biden’s […]
The contrast seems grotesque. A deadly pandemic has shut down the global economy and left millions of workers furloughed, fired, or stranded without gigs. The future for most businesses looks uncertain to dismal. Yet U.S. stock indices are near all-time highs, at giddy valuations comparable to the 2000 dot-com bubble and 1929. Read Here – […]
The seeming confidence expressed by global equity markets in the face of the COVID-19 pandemic has surprised many – including many market participants. But a closer look reveals an unambiguous message: The global economy is facing a long, deep malaise, followed by a “new normal” of reduced earnings and profitability for all but a chosen […]
The stock market moves in patterns that occasionally repeat themselves for a while and then vanish, a feature common to unpredictable systems. Even if the pattern holds, there is nothing to prevent the market from tanking and then recover to produce a strong 17-year average return by 2026. The 20%-plus Crash of October 1987, for […]
When the U.S. financial system crashed in 2008, market watchers were increasingly romancing the idea of a “decoupling” that would separate emerging-market fortunes from those of the subprime-hobbled U.S. Such economies as Brazil’s and China’s, the thinking went, had the demographics and national balance sheets to keep growing and wowing as America foundered. Never happened. Read […]
looking beyond borders 