Macro and Credit – The Numbers Game
“Nobody trusts anyone in authority today. It is one of the main features of our age. Wherever you look, there…
“Nobody trusts anyone in authority today. It is one of…
Macro and Credit – Banqi
“Life is not always like chess. Just because you have the king surrounded, don’t think he is not capable of…
“Life is not always like chess. Just because you have…
The Lady, or the Tiger?
“In waking a tiger, use a long stick.” –  Mao Zedong Watching with interest the collapse of the China trade…
“In waking a tiger, use a long stick.” –  Mao…
From Dysphoria to Euphoria and back
“Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly…
“Fear and euphoria are dominant forces, and fear is many…
Macro and Credit – Showdown
“In every battle there comes a time when both sides consider themselves beaten, then he who continues the attack wins.”…
“In every battle there comes a time when both sides…
Easy Come, Easy Go
“There are many harsh lessons to be learned from the gambling experience, but the harshest one of all is the…
“There are many harsh lessons to be learned from the…
Inflationism
“For the merchant, even honesty is a financial speculation.” – Charles Baudelaire Watching with interest the Fed’s additional dovishness with…
“For the merchant, even honesty is a financial speculation.” –…
Macro and Credit – The Queen of Spades
“Luck is believing you’re lucky.” – Tennessee Williams While enjoying a much needed short break from blogging, hence our uncommon…
“Luck is believing you’re lucky.” – Tennessee Williams While enjoying…
Macro and Credit – Lethe
“Forgiveness is the fragrance that the violet sheds on the heel that has crushed it.” – Mark Twain Looking at…
“Forgiveness is the fragrance that the violet sheds on the…
Macro and Credit – Cryoseism
“Praise out of season, or tactlessly bestowed, can freeze the heart as much as blame.” –  Pearl S. Buck Watching…
“Praise out of season, or tactlessly bestowed, can freeze the…
Macro and Credit – The Zeigarnik effect
“Both poker and investing are games of incomplete information. You have a certain set of facts and you are looking…
“Both poker and investing are games of incomplete information. You…
Macro and Credit – Alprazolam
Another must read by the great Macronomics team. “Anxiety does not empty tomorrow of its sorrows, but only empties today…
Another must read by the great Macronomics team. “Anxiety does…