Journal
February 2022
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What Comes Next?
Good Morning Ladies and Gentlemen, The Prussian general and military theorist Carl von Clausewitz once said: “The greatest enemy of a good plan is the dream of a perfect plan.” Your Thoughts In my last weekly, I asked you to share your thoughts on the current political crisis, and I also asked how you would […]
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Crowded Trade
Good Morning Ladies and Gentlemen, When everything seems so obvious, you want to reconsider. Potentially Crowded Trade Sometimes things seem so obvious, «the really smart» people point in one direction, media and social media confirm the view, the trade looks very promising, you are convinced to outsmart the market. Ladies and Gentlemen, a good trade […]
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Ukraine Crisis
Good Morning Ladies and Gentlemen, The great Wayne Gretzky once said: «I skate to where the puck is going to be, not to where it has been.» U.S. Private Investors Some weeks ago, I pointed out that U.S. private investors’ bullish expectations were on low levels. Guess what? This Wednesday, that number dropped again. The number […]
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The End of the World does not take place that often
Dear Ladies and Gentlemen, Once again I would like to thank you for all your comments, and as I did answer to Bob, who asked me if I was referring to the «calm» in my last weekly as the calm before the storm, I, unfortunately, do not know. How should I? I cannot foresee the […]