Greek Salad or Sauerkraut? Download PDF Version If Greece wishes to remain in the euro, it seemingly will cost them their sovereignty. Germany is pushing for Greece to transfer national budgetary sovereignty in exchange for another lifeline of rescue funds. Greece is on a rather slippery slope. The country is already in recession and is [...]
Author: Troy Gayle CFA, CAIA Chief Investment Officer Click here to download a pdf of this article. Deleveraging……No Pain, No Gain The level of debt accumulated by developed nations, both in the public and private sector, has raised the standard of living to a level that would have been unimaginable just a couple generations ago. In the [...]
Author: Troy Gayle CFA, CAIA Chief Investment Officer Click here to download a pdf of this article. “Success is relative. It is what we can make of the mess we have made of things.” T.S. Eliot The Eurozone could certainly be referred to as a mess. This weekend, the Greeks and private investors are re-negotiating the 50% [...]
“We have two classes of forecasters. Those who don’t know – and those who don’t know they don’t know.” – John Kenneth Galbraith I have remarked in prior first-quarter newsletters that, somehow, this is about the only time of year when most people reflect on the past, ponder the present, and plan/predict the future. The [...]
Author: Troy Gayle, CFA, CAIA Click here to download a PDF of this article. It’s Groundhog Day, Again, and Again…. For those who remember the movie “Groundhog Day” starring Bill Murray the plot is when he wakes up every morning, it is Groundhog Day again and again. The world today bears a striking resemblance to [...]
Author: Troy Gayle, CFA, CAIA Chief Investment Officer Click here to download a PDF of this article “I may be drunk, Miss, but in the morning I will be sober and you will still be ugly.” -Winston Churchill The European summit concluded in Brussels today. The outcome was better than many expected and the markets [...]
