The Trust Mandate: The behavioural science behind how asset managers really win and keep clients by Herman Brodie and Klaus Harnack (Harriman House, 2018) is a short book (about 130 pages of text). It starts by looking at some seeming anomalies regarding which managers attract the most asset inflows—notably, not necessarily the best performers. A lot…
Ask most people how much a lottery ticket is worth and the most probable answers will be the price of the ticket, the value of the jackpot or simply: “Is it a winning ticket?” The value of a ticket for a forthcoming drawing is none of these. The reason for this is related to a…
GBP/USD is facing 1.4345 resistance. A breakout of this level would indicate that the uptrend from 1.1946 (Oct 7, 2016 low) has resumed, then next target would be at 1.5000 area. Support levels are at 1.3950 and 1.3711, only a break below these levels could signal completion of the uptrend.
In Thursday’s commentary I suggested that the market would follow any big reaction to the XLF ETF and suggested the following course of action should a big move occur. “So how should you use this opportunity to have one day potentially tell us so much about the market, based on one simple ETF? Carefully –…
The CBO projects trillion dollar deficits by 2020 and 2 trillion by 2028. Long History of Growing Debt The Bipartisan Policy Center reports Trillion Dollar Deficits Coming Soon. Here’s Why It Matters. When CBO published its mid-2017 update, the projections were far from rosy. The combination of the baby boomers phasing into retirement and ever rising…
The Australian dollar advanced nicely as trade came back to fashion once again. The upcoming week features the RBA minutes, Australian jobs and the Chinese GDP. Here are the highlights of the week and an updated technical analysis for AUD/USD. Australia needs flowing trade to flourish. After China and the US moved from trade wars to pleasantries,…
Is the global economic recovery over? That is the question investors are grappling with just as Q1 earnings season – the best since 2011 with its 18% Y/Y expected EPS growth – enters its busiest week yet. Meanwhile, as discussed here extensively in recent weeks, over the past two months economic data from around the globe, but…
Relative to recent history, this week’s Commitments of Traders Report contains few notable changes. Looking at the data, the most significant moves include rising net long positions in the euro and falling net long positions in the Australian dollar. Changes in other currencies and commodities were relatively modest. On the bullish side, speculators continue to…
Some people believe that President Trump is so incompetent that none of his initiatives can yield anything positive for the U.S. Leaving aside that his policies have already helped facilitate lower unemployment and higher wages, it appears that his threat to place tariffs on Chinese imports has yielded positive results. As a result, my April 3…
As we put fingers to keys here in pre-dawn San Francisco, it’s been some 10 hours since the US/UK/France surgically precise strike on chemical facilities in Syria. To what extent there is a Russia et alia response remains in the balance. The effect on Gold, be it bought, ignored or sold, we’ll see when the new week…
