From our humble understanding of the Zodiac, the Tiger is a symbol of strength and bravery. Those traits will likely be needed for investors

An observation that we have frequently made is that the policy error in this cycle and the QE regime has not been tightening too early, but

It is always important how price responds to news. While the initial reaction to the January FOMC statement was relatively calm, the price a

The price action on Monday in the US session was rapid and emotional. It appeared cathartic to a degree given the very large volume and the

From our perch, market sentiment and consensus beliefs edged closer to outright panic or capitulation on Friday in the United States. While

From our perch, today is not the day to turn bearish on equity despite the ugly close in the United States. The time to do that was in late

A question we often ask is; “what is your quarrel with price?” In our humble opinion markets are not efficient in a macro (or micro) sense b

Earlier this week we highlighted that a key element of a behavioural episode is when market participants become focussed on a single story.

From our humble perch, China’s policymakers pivoted at the start of December to support growth. So far, the changes have been incremental (c

One of the key ways we describe a behavioural episode, is when market participants are focused on a single story. Or put another way, when a