Blog Archives

I am passionate about what I do, and I am glad that I bent my career away from economics and towards becoming a money manager. But the ‘advice industry’ as it is now called drives me nuts. Perusing the industry … Continue reading →

Some years ago, Wall Street decided that Brazil, Russia, India and China would be ‘hot’ markets, with all that growth and development happening. These countries in aggregate were called the BRIC, an acronym coined by Goldman Sachs’ Jim O’Neill. Every … Continue reading →

Today, Venezuela begged OPEC to convene a meeting to curtail production and boost oil prices. OPEC turned a deaf ear. In case you hadn’t heard, Venezuela is not doing so well. Inflation is rampant, the poor are getting poorer, basic … Continue reading →

Risk is inextricably tied to return. It is not true that taking higher risk means you will see higher returns, What is true is that higher risk raises the probability that you will harvest higher returns. It also raises the probability of … Continue reading →

Countless words have been writ about risk. The topic grows in popularity when markets crash (avoidance), and fades when markets rise. Then, when markets hit new highs, risk becomes popular in another way – people embrace it. Most of the … Continue reading →