Serious investment thinking that doesn’t take itself too seriously.
In the aftermath of the dot.com bubble of the early 2000s, Carlota Perez, a British-Venezuelan scholar, published her study of interactions between technological revolutions and financial capital, where she convincingly illustrated that almost every major tech breakthrough required an asset bubble...
Operational real estate is increasingly on investors' radars, but it often remains misunderstood. If you are used to traditional commercial real estate, operational assets seem...
Whatever the “global economy” happened to look like in “their time”, there have always been nations/City States, determined to expand & become overarching dominant...
"Whom the Gods Intend to Destroy… They first make mad.” Bitcoin is either the greatest thing ever, or a complete Ponzi. Take your pick. The Shills cite multiple reasons its going...
“God has a special providence for fools, drunkards, and the United States of America.” — Otto von Bismarck Happy Thanksgiving, folks! A friend asked me to write an optimistic...
Commercial real estate turning a corner? CMBS special servicing rates keep rising (and that’s good) net-new distress is smaller conditions are getting Sloos desiderata on REITs,...
This article is a brief update on the one in the previous edition, Challenging times for UK institutional capital. Even before the change of government in July, UK institutional...
Identifying long-term patterns in markets is easy, acting on them is something else ‘The wheel is come full circle,’ commented Shakespeare’s Edgar on the carnage that surrounded...
In the wake of Trump’s return to Executive office we have witnessed "financials" record sizeable moves. These have involved super-charging trends seen ahead of the frenzied...
Writing in the aftermath of one of the most contested election in modern US history most of the attention has been spent trying to predict the effects of Donald Trump’s...