The Irreverent Economist

A single word is one too many in the presence of genius Beethoven’s Ode to Joy Ravel’s Bolero    ... Read More

In a missive to clients on March 19th, I suggested that one positive result of the coronavirus—which is much more than a silver lining—is that we will begin to fix the things that are broken in ou... Read More

Now even the fig leaf is gone.  On March 23rd the Fed announced its largest-ever intervention in the financial markets.  Bazooka is too timid a word to describe it.  More like a neutron bomb.  ... Read More

Over the past two months we've been keeping our ears to the ground, following the work of virologists, epidemiologists and public health experts.  At long last, I think we are seeing the first signs ... Read More

Paladin client portfolios were defensively positioned going into this market downturn, with relatively low equity exposures and a variety of portfolio hedges in place.  Even so, the volatility of mar... Read More

We have been closely monitoring developments related to the coronavirus since late January, and concluded several weeks ago that it poses a potentially significant risk to human life, global supply ch... Read More

Historically, investors have been well-served by tilting their portfolios toward inexpensive stocks, which offer a low price relative to anticipated future cash flows.  Small companies have also tend... Read More

The US economy is slowing, as corporations and consumers confront the blowback from intensifying trade conflict, which has triggered a global manufacturing recession.  Until recently, weakness was co... Read More