emerging markets

Why 2011

By |2019-04-09T17:57:41-04:00April 9th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The eurodollar era saw not one but two credit bubbles. The first has been studied to death, though almost always getting it wrong. The Great Financial Crisis has been laid at the doorstep of subprime, a bunch of greedy Wall Street bankers insufficiently regulated to have not known any better. That was just a symptom [...]

Global Asset Allocation Update: The More Things Change…

By |2019-02-22T10:08:02-05:00February 22nd, 2019|Alhambra Portfolios|

I haven't written a formal asset allocation update since November so this one will be a little bit of catch-up for non-clients as we did make some minor changes in early January. On January 7th we shifted our bond allocation somewhat to reduce duration. Continuing to hold longer-dated bonds at that point essentially meant betting [...]

Repeating The Worst Parts of 2014, EM Version

By |2019-01-29T13:10:51-05:00January 29th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

As Argentina’s peso careened toward oblivion, the country’s government begged IMF officials for more money. The organization in June 2018 had already agreed to a bailout expected to total more than $50 billion over three years, the largest in the fund's history. But it wasn’t working, and as the currency crisis accelerated toward the end [...]

Living In The Present

By |2019-01-05T14:14:37-05:00January 5th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Politics, Real Estate, Stocks, Taxes/Fiscal Policy|

The secret of health for both mind and body is not to mourn for the past, nor to worry about the future, but to live in the present moment wisely and earnestly. Buddha Review It's that time of year again, time to cast the runes, consult the iChing, shake the Magic Eight Ball and read [...]

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