Practical analysis for investment professionals

History & Geopolitics


The Witch of October Is Here: Remember Short-Term Pain = Long-Term Progress

The month of October strikes fear in the hearts of many Wall Street veterans — and for good reason.

War and Ethics: What Are the Investment Community’s Responsibilities?

The investment community needs to develop common standards to apply when conflicts like the Russia–Ukraine War break out.

Is the Euro Uninvestable? The FX Question du Jour

A reduction of the ECB's balance sheet and a serious effort to achieve positive real interest rates will be key to ensuring a turnaround in the fortunes of the EUR/USD.

The Fed’s “Time of Testing”: Is This Where the Trouble Will Stop?

“This is a time of testing -- a testing not only of our capacity collectively to reach coherent and intelligent policies, but to stick with them.” -- Paul Volcker

Cochrane and Coleman: Quantitative Easing and Asset Price Dynamics

"Wall Street wisdom is that QE is immensely powerful and is stoking financial bubbles. Academics say, 'I take your $100 bills, I give you back 10 $10 bills. Who cares?'"

Powell Prescribes More Economic Pain: Three Financial History Lessons Support His Diagnosis

“The first lesson is that central banks can and should take responsibility for delivering low and stable inflation,”

Demand Destruction? Two Reasons to Be Skeptical

Demand destruction does not guarantee disinflation.

Book Review: The Revolution That Wasn’t

Spencer Jakab argues that Wall Street, not the everyday retail investor, won the meme stock revolution.



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