Journal
January 2024
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Interest Rates and Outlook
Good Morning Ladies and Gentlemen “Ceterum censeo Carthaginem esse delendam.” by Cato the Elder, a Roman Politician 150 BC Emails I received some emails asking for a market outlook. I usually do not like to predict the future because I do not believe in predicting, unless one can win a silver coin. Nevertheless, I […]
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Year-End Competition 2023 – and the winner is
Good Morning Ladies and Gentlemen “The intelligent altruists, though less altruistic than the unintelligent altruists, will be fitter than unintelligent altruists and selfish individuals.” Herbert Simon, Nobel Prize winner in economics Who won? Finally, and once again, the sleepless nights are over; it is time to declare our year-end competition winner. Like every […]
December 2023
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Another Challenging Year / Merry Christmas
Good Morning Ladies and Gentlemen “To help socialism win, we must first create the proletariat.” Unknown (at least to me) A challenging year It has been a challenging year, and I almost have the impression that only challenging years are left. The markets, regulation, political, social and entrepreneurial misjudgements seem to be piling […]
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There is no fever like gold fever
New podcast episode: There is no fever like gold fever – Guest: Ronnie Stoeferle Macro Sunday