Since our last letter there have been a number of significant geopolitical and economic events, but two have dominated the investment universe: Strength of the dollar versus all other major currencies Oil prices, as measured by WTI, falling from $100 a barrel in June 2014 to $45 a barrel in February 2015. Other geopolitical events […]
I turned to look but it was gone
I cannot put my finger on it now
The child is grown,
The dream is gone.
I have become comfortably numb. – Pink Floyd On Thursday, July 31st, the market had a one-day sell-off of 2%, the most negative day since June, 2012. You heard the market pundits and the talking […]
“Get your facts first, then you can distort them as you please.” – Mark Twain “The beat goes on, the beat goes on Drums keep pounding A rhythm to the brain La de da de de, la de da de da” – Sonny Bono “Just because everything is different does not mean anything has changed.” – […]
From Art Cashin, UBS Director of Floor Operations, NYSE Friday, October 11, 2013 Originally, on this day in 1922, the German Central Bank and the German Treasury took an inevitable step in a process which had begun with their previous effort to “jump start” a stagnant economy. Many months earlier they had decided that what […]