NO RETURN TO THE 1970’s….Inflation is likely to cycle UP and DOWN over the next year. In 1980, US inflation peaked at a bit over 14%, which pushed home mortgages to 18%. Let that sink in. While you’re at it, enjoy these flashbacks from circa 1980: Studio 54 was ramping up and closing down with […]
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“You Can’t Know Where You Are Going Until You Know Where You’ve Been” ~ Maya Angelou As an institutional asset manager, I often compared quantitative investment management to driving through the rear-view mirror. The view looking backward offers clear 20/20 vision that allows investors to update their inputs and dial settings while relying on objective analysis […]
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A View Into The Fed’s Inner-Sanctum I recently had the pleasure of sitting in on a discussion with former Federal Reserve Bank President from Philadelphia, Charles Plosser. Charles spent 10 years at the Fed, before terming off in 2016. We were hosted at a lovely home on University Avenue in Palo Alto. Charles’s visit was […]
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“Greed is good.” —Gordon Gecko, the infamous mogul from the iconic 1987 film Wall Street “Growth is good.” —Nearly every Central Banker on the planet Stories of unbridled greed rarely end well. During the rampant real-estate speculation that led to the financial crisis, Mr. Gecko’s audacious theory was tested yet again in financial markets. The […]
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