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September 12th, 2014 · Comments Off on New Model Portfolio
Comments Off on New Model PortfolioTags: Model Portfolio
September 9th, 2015 · Comments Off on Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources
- Argentinean shale compares well with anything in the world, and development is still in relative infancy – there is a long learning curve ahead.
- The unconventional resources are key in Argentina’s energy policy, and dependence on foreign expertise and capital is large, so the investment climate for energy can’t be that bad.
- Madalena is the only small independent with positions in key unconventional Argentinean resources; it is debt-free, generates substantial operational cash flow and has a rapidly increasing production and resource.
Comments Off on Madalena Energy Sits In The Sweet Spot Of Massive Shale ResourcesTags: MVN
September 9th, 2015 · Comments Off on Amateur Hour In China?
- China’s stock market frenzy has multiple signs of a bubble, as fundamentals are worsening and new inexperienced investors plunge in with abandon.
- It’s liquidity driven, mostly because of much lack of alternatives and in expectation of further easing of policy.
- The rally could continue for some time, but certain sectors are getting really overvalued.
Source: Amateur Hour In China?
Comments Off on Amateur Hour In China?Tags: China
September 6th, 2015 · Comments Off on Is There Any Upside Left For U.S. Stocks?
- Stocks have had a fantastic run, but valuations are stretched.
- The bull run has been fueled by a number of forces, but on closer inspection, most of these are struggling.
- So it’s difficult to see what will provide the catalyst for the next runup in stocks.
Comments Off on Is There Any Upside Left For U.S. Stocks? Tags: The Markets
September 6th, 2015 · Comments Off on Ellie Mae Is Due For A Breather
- A terrific company with a terrific stock performance.
- However, the shares are rather expensive and they have run up quite a lot, while earnings are not expected to do better this year than the previous one.
- We therefore see little immediate upside and think they could be due for a breather.
Source: Ellie Mae Is Due For A Breather
Comments Off on Ellie Mae Is Due For A BreatherTags: ELLI
August 29th, 2015 · Comments Off on Victorious Draghi?
- The rebound in eurozone economic performance, financial markets and the slide in the euro suggests that the ECB has managed to get the eurozone out of the deflationary rot.
- However, the picture is considerably more complex as there are other factors at work.
- The main question is, can the party on the euro markets continue?
August 29th, 2015 · Comments Off on Argentina As A Contrarian Bet? – | Seeking Alpha
- The Argentinean economy is stagnating and suffering from a host of problems, like high inflation, important market restrictions in international trade and energy and lack of access to foreign capital.
- However, many of these problems seem self-induced and could be resolved with a change of policies. An election later this year looks like the catalyst to change these policies.
- In the meantime, the Argentinean contrarian bet might still have some legs to run on.
Comments Off on Argentina As A Contrarian Bet? – | Seeking AlphaTags: Latin America
June 29th, 2015 · Comments Off on ‘QE Will Permanently Impair Living Standards For Generations To Come’ | Seeking Alpha
- In some corners, “money printing” is like the original sin, it’s blamed for all economic problems and language tends to go into overdrive.
- Closer inspection reveals that behind much of the strong language there is surprisingly weak economics.
- A cooler assessment reveals that QE is neither a miracle cure, nor the mother of all economic ills. Under some circumstances it is a mildly useful tool, during others it’s not.
Comments Off on ‘QE Will Permanently Impair Living Standards For Generations To Come’ | Seeking AlphaTags: Monetary policy
June 29th, 2015 · Comments Off on Austrian Dollar Bears Keep Getting It Wrong
- While the dollar is rallying strongly, some Austrian economist keep on predicting a dollar crash.
- That dollar crash not happening isn’t the only empirical problem with these kind of economic approaches.
- When economic approaches can’t explain significant parts of the world, one should take their predictions with some pinch of salt.
Comments Off on Austrian Dollar Bears Keep Getting It WrongTags: currencies
June 14th, 2015 · Comments Off on The Stalemate In Greece Cannot Last
- Because of the wide differences of positions between Greece and its creditors, positions are hardened by the respective electorates, which provide little room for maneuvre.
- Therefore, any outcome of the negotiations will likely be a fudge that allows both parties to save face and face less wrath of their electorates.
- However, a fudge is dangerous in itself to improve the Greek economy; clarity is needed to take away the uncertainty.
- The room for a fudge seems fairly small, and there are plenty of banana peels on the way that could derail the whole process into an accidental Grexit.
- A Grexit itself is likely to be a catastrophe, and isn’t priced in at all.
Comments Off on The Stalemate In Greece Cannot LastTags: Eurocrisis
May 31st, 2015 · Comments Off on ‘The U.S. Is Broke’ | Seeking Alpha
- From time to time, we hear deeply serious economists expound that the US is broke.
- Invariably, this involves discounting future entitlement obligations to present day dollars, which usually deliver intimidatingly large sums scaring the uninitiated.
- The curious thing is, if the US is broke, somebody should tell US bond market investors, as rates should rise dramatically if the ‘broke’ analysis is right.
- A less dramatic look at the issues shows that the markets have it right. The US is far from broke.
Comments Off on ‘The U.S. Is Broke’ | Seeking AlphaTags: Public sector deficits and debts