Transitory Permanence
The inflation that we were emphatically told would be transitory and unmoored continues to persist …
2Q21 Review & Strategy Update
Our 2021 Key Themes remain intact with an emphasis on Theme #2 Big Turns Take …
How Transitory is Transitory?
What exactly is “transitory?” You and your wife may disagree on its meaning when your …
Inflation Crashes the Party
It’s dawning on many investors that our post-Covid financial problems may not be as easily …
2021 Outlook & Strategy
Like the 9/11 attacks of 2001, the Covid crisis of 2020 was a “large shock” …
A Black Swan With Teeth
For years I have been warning that during the age of permanent stimulus (which began …
This Is Not a Printing Press
Rene Magritte’s 1929 painting “The Treachery of Images,” depicts a tobacco pipe with a caption …
The Fed Stops Pretending
Well, it didn’t take much and it didn’t take long. After years of delays, a …
The Hawks Surrender
They say that there are no atheists in fox holes. Recently it has also become …