There’s a Cat, a Killer, and There’s Shiller

Crouched behind the magnolia bush, I can hear rustling inside shrubs ten feet away. The night is quiet…deeply still. As quick as I can swallow there is a sudden, two-second onslaught of screeches and scratches to my back and shoulder before I throw the howling cat to the ground…in hackneyed suspense, my heart finally settles, […]

Critical Week for the Turkish economy

At first look, the domestic economic agenda looks light this week, with purchasing managers’ indices, preliminary exports and inflation being the main data releases. However, it may end up being the make-or-break week for Turkish assets, and eventually for the economy. The intro. to my latest Hurriyet Daily News (HDN) column pretty much sums up […]

Turkey: The markets’ Cinderella Man

Seen as one of the most vulnerable emerging markets (EMs) not too long ago, Turkey is on a Cinderella run, attracting significant capital inflows. Foreigners’ net equity and bond investments rose by $0.9 and 1.4 billion respectively during the last four weeks. Here is the intro. to my latest Hurriyet Daily News (HDN) column, where […]

Petrobras May Get Political Respite Finally

By Martin Tiller: Over the last few years, stock in the Brazilian state-controlled oil company Petroleo Brasileiro S.A., or Petrobras (PBR), has confounded those who track traditional measures of valuation. The stock has remained stubbornly low in terms of price-to-earnings-ratio (P/E), and even after rallying over the last few days, remains at less than seven […]

What Is Mrs. Watanabe Buying Now?

(from my colleagues Dr. Win Thin and Ilan Solot)  Weekly MOF data shows Japanese investors have been sellers of foreign bonds in 11 out of the 15 weeks reported so far this year. The total outflow from foreign bonds year to date has been -$53.5 bln, not an insignificant amount. And it’s not just foreign bonds. […]

Alec Baldwin, Millard Fillmore & Why the Market will Crash

Alec Baldwin keeps getting more interesting. There are thirty more pounds of cheeky Baldwin then there were decades ago and if you haven’t noticed, he’s looking an awful lot like our 13th president Millard Fillmore… Eerie isn’t it? Fillmore bucked the average and lived to be 74. He had more than a sliver’s chance of […]

Group Therapy

Pop quiz:  which U.S. policymaker said last week: “We can’t solve everyone else’s problems anymore” in response to foreign criticism of U.S. handling of what issue? a—Federal Reserve Chair Janet Yellen, responding to criticism by foreign central bankers of the Fed’s tapering of its asset purchases; b—Treasury Secretary Jack Lew, following denunciations of the refusal […]

The Global Outlook – Still Crazy After All These Years!

Investors assume that the GFC is now ancient history and normality has returned. Many equity markets are making new highs almost daily. Even the NASDAQ has risen to levels not seen since the tech bubble, as technology stocks are back in fashion with everybody looking for the new Google, Facebook or Twitter. There is now […]

Institutional Investors Have an Eye for Good Governance

A reliable corporate governance is pivotal in order to guarantee value creation for a company in the long term. Such a statement has often been said, read or heard. However, establishing a relationship between governance quality and company performance remains particularly problematic: company performance depends on multiple factors (industry, geographical markets, product/service quality, etc.) and […]

Markets 1 – Forecasters 0

The stock market is like a celebrity diva. We hate it…and we love it, sometimes we obsess over it. Like Miley Cyrus, some can’t seem to hear or talk enough about it.  But, for 2013, the market has been more like Clay Mathews of the Packers, hitting us from behind then leaving us prostrate, except with […]

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