40 years is a very long time, at least in human terms. But when it comes to inflation, the not-so-fine 1979 seems like 400 years ago. It was in that difficult year — with spiking oil prices pushing the CPI up at close to a double-digit rate — President Jimmy Carter appointed Paul Volcker as the head of the Federal Reserve. Read More
Below are Evergreen Gavekal's Likes/Dislikes for December 27, 2019. Read More
One of the main goals of this newsletter is to examine both sides of a particular issue or viewpoint, be it on the economy, financial markets, or even the pros and cons of artificial intelligence (AI). Read More
Below are Evergreen Gavekal's Likes/Dislikes for December 20, 2019. Read More
Below are Evergreen Gavekal's Likes/Dislikes for December 13, 2019. Read More
It is said there are “no atheists in foxholes”. When things get desperate, we all like to imagine a better outcome on the other side of whatever nightmare is being endured. It is also the case that when facing challenges, a natural reflex is to cling to beliefs installed in us at a young age. Read More
Below are Evergreen Gavekal's Likes/Dislikes for December 6, 2019. Read More
The physical and digital universes have something in common: sheer size with respect to volumes that are so large that they require special measurement units. Once one gets used to these new dimensions, concepts like “large” and “small” take on new meaning. Read More
Below are Evergreen Gavekal's Likes/Dislikes for November 29, 2019. Read More
Over the last few years, the spectacular rise and subsequent fall in asset prices for Bitcoin, pot stocks, high-end real estate and cash-burning companies have proven that the line between “in-favor” and “out-of-favor” is very thin and can evaporate almost instantly. One currently “out-of-favor” asset class that we have been particularly fond of is Master Limited Partnerships (MLPs) – the tax-advantaged, high-yielding oil, natural gas, or refined product pipeline businesses. Read More
