The rites of summer are upon us and Europeans are heading for the beaches. Meanwhile, as temperatures reach new records, valuations of assets also go ever higher and financial markets are upbeat. This is in stark contrast to the gloomy outlook central bankers seem to o...

Europe is suffering from its worst heat wave in decades. Politicians will soon retreat to their holiday homes and have some thoughts about the merits of air conditioning and climate change. Many political issues remain unsolved across the globe and investors are mostly...

Market commentators talk a lot about “late-cycle” market conditions these days. They refer to the kind that prevail after a long expansion, when the economy is running at full throttle and assets are richly priced. This discussion quickly leads to gloom, doom and the n...

What has happened in the financial markets since the need of the 4th Quarter 2018 until the end of April maybe another emotional run which we, as level-headed investors, should not heed. We should view it for its entertainment value but not let it become a nerve-wracki...

Why bond yields matter?

The first quarter ends with a rally both in equities and in bonds. Equities are sitting on solid gains while yields have tumbled, and the US yield curve has inverted. The 10-year Treasury yield has fallen below that of the three-month Treasury...

After a horrific fourth quarter in 2018, markets have rebounded with double-digit gains for equities. Investors who have been invested all along enjoy the ride, but the general feeling remains one of caution. It would appear as if the easy money had been made, with a c...

This year has been a trying one for investors, and it is natural during such times to want to chuck this whole investing game and seriously consider keeping your cash under the mattress. 

How bad was the year? It was a year where seemingly nothing made money. To illus...

We are still under the lasting impressions of an excruciating month of October followed by nerve-wracking month of November. Neither Halloween nor Thanksgiving gave us any respite. While we are still clearing the wreckage, we must remind ourselves that we are investing...

Why the collapse of Lehman affects your pension

According to the Social Security Administration, 25% of Americans who reach age 65 will live at least another 25 years to age 90. Considering similar standards of living in other developed countries, it is safe to assume t...

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Summer is coming to an end and there was not much resting under the trees in the Pomona orchard. Markets have again become a lot noisier with the return of volatility and amplified rhetoric around trade concerns, Turkey, Italy and, of course, m...