Juggernaut Rally

On February 19th, 2020, the S&P 500 hit an all-time high of 3,386.15. Thirty-three days later, on March 23, the S&P 500 closed at 2,232.40, a 34% collapse. Between February and April, 5.3 trillion dollars of the S&P 500’s market cap was wiped out from Covid-19 Pandemic. Fast forward to the end of May, where … Read more

Themes in Global Economies 2017

I believe the following two themes will shape markets for 2017: The rise of a conservative populist nationalism as a reaction to a decade of liberal expansion Which will have to confront the reality that technological globalization is entrenched in the modern world  A new phase of global economic recovery that is ushered in by … Read more

Luxury market trends

New Luxury

Headlines on retailers are worrying but I think that there is a wider issue related to manufacturing. The premium you used to be able to charge on branded products in textiles, plastics and even electronics are evaporating because the high barriers of entry for manufacturers are evaporating. This increased supply of goods is driving stores out … Read more

Themes in Global Economies 2016

There are a two main themes I’ve noticed in the new year so far. Corporate earnings are slowing, cost cutting is up Governmental QE programs are still ramping up, but easy money is not generating tax revenue The US is cutting back, but very, very slowly. Rest of world expanding. Other media focal points include emerging market … Read more