Acting Man

Guest post by David Llewellyn-Smith Yesterday Citi produced a new index which pinned the Australian property bubble at 16 year highs: Bubble trouble. Whether or not we label them bubbles, the...

The Long Term Outlook for the Asset BubbleDue to strong internals, John Hussman has given the stock market rally since the February low the benefit of the doubt for a while. Lately he has returned to...

A Companion Update to this Year’s “In Gold We Trust” ReportOur good friends Ronnie Stoeferle and Mark Valek of Incrementum AG have just published a new chart book, which recaps and...

A Litany of Failures It was widely expected that the BoJ would announce something this week, after it promised to perform a comprehensive review of its monetary policy. It certainly did deliver a...

John Hussman on Recent DevelopmentsWe always look forward to John Hussman’s weekly missive on the markets. Some people say that he is a “permabear”, but we don’t think that is...

As long time readers know, we are always paying close attention to the manufacturing sector, which is far more important to the US economy than is generally believed. In terms of gross output it is...

Insanity Rules Bond markets are certainly displaying a lot of enthusiasm at the moment – and it doesn’t matter which bonds one looks at, as the famous “hunt for yield”...

Second Half Recovery Dented by “Resurgent Consumer”We normally don’t comment in real time on individual economic data releases. Generally we believe it makes more sense to...

Anecdotal Skepticism vs. Actual Data About one month ago we read that risk parity and volatility targeting funds had record exposure to US equities. It seems unlikely that this has changed –...

The European press informs us that a delegation of EU Commission minions, including Mr. JC Juncker (who according to a euphemistically-worded description by one of his critics at the Commission...

Gold Continues to Mimic The 1970s Ask and ye shall receive… we promised we would update the comparison chart we last showed in late November in an article that kind of insinuated that it might...

Landfall of a “Told You So” Moment…Late last year and early this year, we wrote extensively about the problems we thought were coming down the pike for European banks. Very little...

A few days ago a well-known mainstream investment house (which shall remain nameless) informed the world that it now expects the gold price to reach “$1,500 by early 2017”. Our first...

The 10th Anniversary Edition of the “In Gold We Trust” ReportAs every year at the end of June, our good friends Ronald Stoeferle and Mark Valek, the managers of the Incrementum funds, have...

European Stocks Look Really Bad…Late last week stock markets around the world weakened and it seemed as though recent “Brexit” polls showing that the “leave” campaign...

Sweet Authoritative NothingsThere is a mysterious figure making regular appearances in China’s government mouthpiece “People’s Daily”, which simply goes by the name...