Journal
Oktober 2020
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Year-End Competition Update II
Dear Ladies and Gentlemen Time for another update on our year-end competition. The estimates are still wide-spread; this is great and as I had mentioned before, makes it more fun than if everybody is around the same numbers. We had some new readers joining in, but there were no new „highest“ or „lowest“ estimates. However, […]
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A Quantum of Decency
Dear Ladies and Gentlemen Last week I wrote about mean reversion and proposed this week’s mail to be on the market efficiency theory. I am sorry, but the topic will have to wait, I feel we „have bigger fish to fry“. I do not want my weekly mail to become a political instrument of any […]
September 2020
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Mean Reversion
Dear Ladies and Gentlemen It seems my last weekly mail „Double Standards“ hit the nail on the head. I received many very positive feedbacks and exciting comments. One of them I would like to share with you: „people’s outrage is definitely selective, and the selectivity conveniently coincides with people’s preexisting political objectives. Stories attributed to […]
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The Outperformance of Gold – A Possible Explanation
Dear Ladies and Gentlemen I was asked to write an article on gold for the “Global Executive” magazine. The introductory part of the article reads like this: “By August 21, the year to date price of gold had gone up a hefty 27%. While many other asset classes experienced difficult times, the gold price not […]