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Unfortunately, the longer I practice as a portfolio manager, the more cynical I become regarding certain aspects of our business. The great push to include emerging markets funds in a ‘diversified’ portfolio has become my favorite annoyance lately. Granted there … Continue reading
The media is full of disaster mongering now that Brexit has passed, In fact, even some Brits have been horrified by their own behavior in the referendum and are wishing they could take it back. The conventional wisdom is that … Continue reading
Last night, the “bailout” deal coalesced in Cyprus, who’s troubled banking system is massive relative to its tiny economy. The bailout entails an immediate confiscation of 6% to 10% of depositors funds – and we mean “immediate”. Despite today being … Continue reading
We’ve said it before, but we will say it again: Economic growth does not necessarily translate to a good stock market. China’s economy has grown strongly over the last few years and although the rate of growth has slowed recently, … Continue reading
We decided to demote the Euro crisis from “crisis” status to “status quo.” Let’s face it: Greece has been in slow motion destruction for three years now. Spain and Italy have been grinding along on the edge for nearly as … Continue reading