by Thomas Aubrey | Aug 30, 2022 | Uncategorized
The US equity market has had a surprising rebound this summer; rallying more than 17% between mid-June to mid-August. The narrative for the first half of the year had been focused on a pending recession, given that a sustained decline in economic output tends to...
by Thomas Aubrey | Jun 1, 2022 | Uncategorized
Making the right asset allocation decision is critical if pension funds are to generate sufficient returns to meet their liabilities. A recent analysis by GlobalSWF indicates that US public pension funds are only 75% funded and face a $1.3 trillion shortfall. Other...
by Thomas Aubrey | Mar 1, 2022 | Uncategorized
Private property plays a central role in liberal democracies as it protects a company’s right to contract with other agents in order to generate an income stream from its assets. Knowing that financial claims from contracts will be protected facilitates the trading of...
by Thomas Aubrey | Dec 3, 2021 | Uncategorized
The “Three Amigos Summit” on 18 November in Washington D.C. appeared to reinforce Joe Biden’s shift towards Trumpian protectionism. President Biden refused to budge from his position of using tax credits to support domestic production of electrical vehicles,...
by Thomas Aubrey | Sep 1, 2021 | Uncategorized
Credit cycle investors have performed on par with the S&P 500 since the beginning of March, with an allocation to US banks followed by US Industrials generating returns of just over 16%. This performance beat Nasdaq, which increased by just under 12%, global...
