General

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

It’s hard to believe that as recently as February, when I first brought up the concept of a new economic model that was poised to radically alter the world we’re living in, MMT was as obscure as an extra in an old Cecil B. DeMille bible film. Yet, a mere two months later, you have to try extremely hard to ignore Modern Monetary Theory and its swelling number of disciples. Read More

Say what? It’s my suspicion that many, if not most, EVA readers have heard the term secular stagnation without quite fathoming what it means. It could be that the comprehension problem lies in that highfalutin word “secular”. Read More

One of the predictions from last week’s EVA on the economic concept that is suddenly dominating America’s financial discourse—Modern Monetary Theory or MMT—was that it would soon become front page news. Read More

At the beginning of 2018, we initiated a new EVA series titled “Bubble 3.0” with excerpts from David Hay’s upcoming book titled “Bubble 3.0: How Central Banks Created the Next Financial Crisis”. Read More

Financial markets have been breathtakingly strong so far in 2019. In fact, it’s been the best start for the US stock market since 1992, with the S&P 500 posting a 13.1% total return through mid-March. Another impressive stat is that the NASDAQ began the year with nine straight up weeks – a feat not seen since 1964. International stocks, corporate bonds, REITs, and midstream energy assets have also posted remarkable returns. Read More

John Maynard Keynes, an English economist and author, has been held in high esteem for several decades thanks to his groundbreaking work in economics in the early 20th century. The theory he popularized in an attempt to better understand the Great Depression, aptly named Keynesian theory, revolutionized demand-side economic policy at the time. Read More

Evolutions in telecom are like clockwork: once a decade something extremely important happens. In the 1980s, the first nationwide mobile network operators (MNOs) appeared (think AT&T and the predecessors to Verizon, Sprint and T-Mobile). In the 1990s, GSM (Global System for Mobile communications) rolled out as a standard that became like the Bible for the industry. At the turn of the century, 3G was the new rage and, about ten years after that, 4G/LTE opened the floodgates for transmitting large quantities of data. Read More

Over the last decade, many investment professionals have been tested by two simultaneously occurring phenomena: the rise of passive investing and the stronger performance of growth stocks relative to value. Read More

At the beginning of 2018, we initiated a new EVA series titled “Bubble 3.0” with excerpts from David Hay’s upcoming book titled “Bubble 3.0: How Central Banks Created the Next Financial Crisis”. Read More