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Tag: QE
Chart of the Month – Money for Nothing – and Your Debt (almost) for Free
Money for Nothing - and Your Debt (almost) for Free Most of our readers will be old enough to remember the hit single “Money for Nothing” that topped the US charts for three consecutive weeks and won MTV’s video of the year in 1985. Who would have thought that 25…
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Investment Outlook Q3 2018
At 10 times revenues, to give you a 10-year payback, I have to pay you 100% of revenues for 10 straight years in dividends. That assumes I can get that by my shareholders. That assumes I have zero cost of goods sold, which is very hard for a computer company.…
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Chart of the Month – Alpha generation is back!
Alpha generation is back! Equity markets have entered into a new volatility regime since February 2018. This could have been expected with the beginning of the end of QE decided by all major central banks since almost 10 years following the global financial crisis. During this period of massive liquidity…
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Investment Outlook Q3 2017
Notz Stucki has just released its investment outlook for the third quarter of 2017. “The reduction of interest rates below their natural levels has poisoned the river at its source, and nobody knows whether the water is fit to drink.” Jonathan Ruffer The markets performed well in the second quarter…
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Currency wars and helicopter money : a former central banker speaks
It was Milton Friedman who was the first to talk about ‘helicopter money’ and used the metaphor of a helicopter dropping dollars from the sky. In his model, Friedman was trying to create a simple link between money and inflation. Raising nominal demand this way would have a quick and…
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Chart of the month: February Edition
The incredible bull market in bonds “You seem to have this nasty habit of surviving, Mister Bond” When Kamal Khan tells James Bond that he has a nasty habit of surviving in “Octopussy” in 1983, he does not refer to the bond market obviously..... But funny enough the year the…
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