Serious investment thinking that doesn’t take itself too seriously.
The S&P500 realized volatility is below 10%.
Credit spreads are super tight, and aside from some short-lived European political drama markets keep marching higher. Yet, I think macro volatility is coming back.
There is an old expression – to drive someone to drink – which means to annoy them to distraction. My favourite version of it is George Thorogood and the Destroyers’, “Son,...
How the Thames made an extraordinary recovery over 60 years. It might surprise you to know that the River Thames is considered one of the world’s cleanest rivers running through...
This month, the Bank of England will celebrate 25 years of independence. For the past quarter of a century it alone, and not Her Majesty’s Government, has been responsible for...
Economic research shows that monetary policy works best when conducted by an independent central bank. After Fed chairs in the 1960s and 70s caved to pressure...
Another instalment in a series of articles detailing how to design a secure, income-producing portfolio. According to the Consumer Price Index (CPI), for the 12 months ended...
The United States Federal Government spends $38bn every year subsidising the meat and dairy industries. Research from 2015 shows this subsidisation reduces the...
In December 2006, The Economist magazine published a cover drawing of Russian president Vladimir Putin, dressed like a 1930s gangster in a dark suit and fedora hat, under the...
British American Tobacco (BAT) has been out of favour with investors since 2017 when its shares reached a record-high price of more than £56. Over the next five years, BAT’s...
As an economics professor, one concern I have long had is that I don’t want to limit how I train students to manipulate mathematical expressions which are typically unknowable to...