With global growth leveling off, investors are more focused than ever on corporate results. These reveal a less rosy picture than in previous years and company expectations are very muted. […]
The impact of central banks should not be underestimated. And I don’t just mean their impact on economic growth and interest rates. Central banks are also a driving force of […]
Equity investors are always looking for signs of the next recession. Recessions mean higher unemployment, lower spending, lower earnings and ultimately more defaults, all of which are bad news for […]
2018 wasn’t a pretty year for equity markets in general, and for emerging markets in particular. Global stocks fell 4.1% (in euros), whereas emerging market equities realized a negative return […]
Every year I post an update of the ‘average return doesn’t exist’ blog to show that the average return on equities is mostly a statistic, and is seldomly seen in […]
Emerging market stocks often produce paltry returns when the US dollar strengthens. But recent developments point to a change in this trend, making emerging markets a more attractive investment prospect. […]
The US midterm elections are behind us. As expected the Democrats took the House while Republicans hold the Senate. So what happens now? Surely we can’t tell, but if history […]
Most investors tend to agree that the Federal Reserve is in the midst of a monetary tightening cycle, which will take some time to complete. But when asked about the […]
Here is a ‘surprise’ for you. The number of news stories stating that irrational exuberance is back on the stock markets is growing rapidly. In addition, irrational exuberance was mentioned […]
Halloween is behind us. Which offers me the possibility to not talk about dominant central banks, for once. Even though, we now know who the new Fed chair will be […]
