Journal
May 2025
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Debt Delinquencies / Government Debt / Carry Trade / Interest Rates
Good Morning Ladies and Gentlemen ”The magnitude and speed at which these prices are coming to us are somewhat unprecedented in history.” John David Rainey, Walmart’s CFO In the realm of financial investments, it is essential to recognise that fear can be an inadequate guide for decision-making. Historically, evidence suggests that a long-term investment strategy, […]
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American “What Else”? A Potpourri
Good Morning Ladies and Gentlemen ” In a gold rush, do not invest in gold mines but in shovels.” André Kostolany Today’s “Stefan’s Weekly” is a bit of a potpourri, for which I ask your pardon. But many things happened during the last seven days, and I would like to cover them at least […]
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The Very Big, Beautiful Gold Report
Good Morning Ladies and Gentlemen ”There is frustration with a state growing while the infrastructure is rotting.” A quote by a journalist about the situation in Germany The current fiscal policy of the United States administration, the big and beautiful bill, characterised by a combination of tax reductions and inadequate efforts at expenditure reductions, […]
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A Hidden Jewel in the Heart of Europe
Good Morning Ladies and Gentlemen ”The history of high tariffs shows extreme danger: 1890s McKinley Tariff led ~60% EPS drop in S&P 500; 1930s Smoot-Hawley Tariff led 70% drop.” Societe General Today’s discourse centres on the Principality of Liechtenstein, a small nation in Central Europe. I have been tasked with composing an article for […]