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Remember J. Rueff!
Please, click here to read this article in pdf format: june-4-20101 This short week is ending on a strange note. We’ve witnessed an escalation in geopolitical conflicts, from the Mediterranean to the...
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On gold, stocks, financial repression and the KreditAnstalt of 1931
Please, click here to read this article in pdf format: March 18 2012 We are back from Washington DC and realize that we could choose different titles for today’s letter. Let’s try a few… Title No.1:...
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We’re getting closer…
As Easter approached, we began to see a timid sell off in US stocks (but not so timid in Europe or Canada), in corporate debt, and in Treasuries. Treasuries later in the week rallied, but if you ask,...
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There is no straight path
Click here to read this article in pdf format: June 4 2012 The loyal reader knows by now that we have been, perhaps since the start of our publication, expecting a dynamic like the one seen last...
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General market comments
Click here to read this article in pdf format: June 25 2012 We are as deceived as you are with the policy decisions undertaken by the European Union (EU) and the US. As we muddle through their...
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Why the Fed’s buy & hold (no sales) exit is not feasible
To read this article in pdf format, click here: April 28 2013 In the past months and right after implementing Quantitative Easing Unlimited Edition, the Fed began surfacing the idea that an exit...
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