The Ides of March

Posted on Sunday, March 11th, 2018

“Beware the Ides of March.” As we know from Plutarch, a Greek biographer, a seer had prophesied to Julius Caesar that harm would come to him by the Ides of March. He would, in fact, be assassinated on that day. Wall Street is a superstitious lot but it’s the bears that may feel they got… read more.

Back to the Future

Posted on Sunday, March 4th, 2018

It has been our central operating thesis since the Great Financial Crisis that low interest rates+ low volatility+ larger central bank balance sheets would = higher asset prices. We are now entering an environment where we are seeing higher interest rates+ higher volatility+ smaller central bank balance sheets. We surmise that will = lower asset… read more.

Warren Buffett’s Latest Wisdom

Posted on Sunday, February 25th, 2018

One of my favorite days of the year is when the annual report of Berkshire Hathaway comes out. It is always on a weekend and we spend a good amount of time pouring over it for wisdom from the Oracle of Omaha – Warren Buffett. Here are our highlights from his latest missive. On the… read more.