General

Evergreen Gavekal's Likes/Dislikes for August 9, 2019. Read More

Let’s be totally honest with each other, including all of you out there under the “see no bubbles” influence. If you were to sit down and make a list of things that you never would have believed could happen ten years ago, if you included everything that has gone Alice-in-Wonderland, you’d either get writer’s cramp or carpel tunnel. No interest in doing so? Too time-consuming? Too depressing? Too confusing? Another totally — as in, I get it, so please allow me to take a crack at this exercise. Read More

Evergreen Gavekal's Likes/Dislikes for August 2, 2019. Read More

If someone were to dive deep into the Evergreen Virtual Advisor (EVA) archives, they would stumble upon a publication from two years ago titled, “America is Great, Home Country Bias Ain’t.” The bulk of the article was written by GMO’s Rick Friedman and its main premise is that investors skew their equity exposure towards their home country. Americans who have invested in line with this idea over the past decade have unquestionably been beneficiaries as benchmark indexes including the S&P 500, Nasdaq and Dow Jones have all been on epic bull runs. Read More

Evergreen Gavekal's Likes/Dislikes for July 26, 2019. Read More

In his popular book, Misbehaving: The Making of Behavioral Economics, Richard Thaler suggests that, “Many people have made money selling magic potions and Ponzi schemes, but few have gotten rich selling the advice, ‘Don’t buy that stuff’.” In fact, it can be downright unpopular to be the adult in the room when easy money seems to be falling from the skies like raindrops in Seattle in January. Read More

Evergreen Gavekal's Likes/Dislikes for July 19, 2019. Read More

Ben Horowitz, famed entrepreneur and venture capitalist, once quipped that as a startup CEO he “slept like a baby [because he] woke up every two hours and cried.” As many others at the head of early-stage businesses can attest, Ben isn’t overreaching all that far in his comparison. While many factors play into the often-disrupted sleep patterns of entrepreneurs, perhaps the most jarring is the fact that the vast majority of early-stage companies are destined to flop. Statistically speaking, nine out of ten startups will fail. Read More

Many social commentators, probably rightly, assert that Western culture is in the post-phase: Post-modern, post-religion, post-civility, post-bipartisan, post-patriotic, post-prudence, post-hope, post-tolerance and, perhaps, most inarguably, post-truth. But the “post” that is the topic of this month’s installment of “Bubble 3.0” is based on the thesis that the relatively recent phenomenon of a comfortable retirement is now also increasingly a thing of the past. Read More

Evergreen Gavekal's Likes/Dislikes for July 12, 2019. Read More