Expectations have changed, but expectations are not always met. Even if expectations are met, some have rapid feedback loops and some have slow feedback loops. The economic sphere is mostly slow, but sentiment does impact near term business decisions. The… Read More ›
Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled… Read More ›
I talk about market risk quite a bit and try to emphasize market risk is not static. This idea is not supported by mainstream thinking or financial marketing. “Financial Advisors” ask you how much risk you are willing to accept… Read More ›