By 2010 there was a lot of concern boiling among everyday people that was electrified by the crisis brought on from the financial sector, but politicians remained clueless. These problems were not broadly evident or believed until elections in the middle of the decade. If politicians were aware of any of this and leading in front, then someone like David Cameron wouldn't be out of politics today. A shining star in the Conservative party in the 2000's, his popularity reached a crescendo in 2015, but he had a major blind spot. His fall was as quick as his rise and he is now out of the big picture. Aspirations he built all his life were crushed. His failure revealed all kinds of societal wounds to those among the populace that were not already conscious.
Three Men and a Decade Part I
Three figures came to mind recently when thinking about the past ten years. I was looking back on my own life during this era, thinking about my career and social life and how it is odd they fit nicely against the backdrop of the external environment - the economic, political and cultural developments that took place over the same time frame. The previous decade will always bring the greatest memories of my life, alongside some of the darkest in an equal counterpunch of regret. I think similar could be said about all three of these men I thought of, and the decade itself. The future feels a lot more serious and a lot less fun than the past ten years, despite the hard times that did occur. Each of these men were impacted by the period and came out of the decade very differently than they came in. Perhaps we all do, but their transitions represent some important macro themes that we are facing today and they played very central roles while the change occurred. The men that best symbolise the "2010's" for me are a former hedge-fund manager, a world leader and an obscure blogger out of America.
Contemporary Thoughts on the Week in the Market (and some other things)
The week that was continued themes that have been on-going for several weeks. American indices were up, with the NASDAQ up big, while the UK's FTSE was down for the week along with other major European indices. Certain beloved tech stocks continued to outperform, some to amazing levels. Meanwhile, Gold breached the $1,800 level. COVID problems continue to mount in the US and uncertainty continues to prevail, but you wouldn't know that looking at the markets.
Career Change After COVID-19
One of our associates was made redundant during the lock-down period. It doesn't matter to them how this happened or came about, what matters is the future. At an age that in prior generations would have been thought impossible, they are undergoing the process of considering a career change. They will make this attempt. We will provide a space for them to share their journey on a bi-weekly basis.
Contemporary Thoughts on the Week in the Market (and some other things)
There wasn't much action in the markets on a shortened week due to Canada Day and US Independence Day. However there was some important action in the macro environment.
Contemporary Thoughts on the Week in the Market (and some other things)
It was a week where the NASDAQ hit an all-time high, Gold hit an 8-year high, a major accountancy scandal brought down a major digital finance firm, markets started the week up big, then turned around and finished the week in the red. It is hard to make sense of it all. The NAS and Gold hit those high levels ON THE SAME DAY. But if you step back and take a look at a long horizon the noise gets quiet and you will notice some steady trends.
The Extinction of History as a Discipline
History is in decline. In terms of a field of interest for study at university, in terms of how it is being taught and in terms of how it is being applied in public. Taken in respective order, each impacts the next and forms a vicious cycle. The result over recent years is starting to show signs of a field that had been diluted of nuance or ignored altogether.
Contemporary Thoughts on the Week in the Market (and some other things)
A weekly synopsis of random thoughts on the past week of market meanderings.
Market Mania and Blindness
The date is May 29, 2020. The companies named include Amazon, Tesla, Microsoft and Alphabet. There are more, but these names stand out. What is it I am looking at? Investor Chronicle's (IC) international bounce-back "must-buy" list for stocks - amid the economic clouds of Covid-19's impact. The magazine further highlights Amazon in a key feature as a subset of this theme. In the same issue they reference the South Sea Company as the "original bubble". The publication's coinciding weekly podcast is also titled "Living in a bubble". Yet curiously their writers (at least those on the podcast) shied away from applying the term "bubble" to today's market - suggesting markets are not overvalued.
10 Years and a World That no Longer Makes Sense
I have been waiting patiently for 10 years for the markets to make sense again. In fact, things that once made sense to me no longer do. Democrats used to be against wars. Wikileaks was a liberal's wetdream. Men and women seemed to generally like each other. America needed to get out of the Middle East. The Cold War was dead. People should socialise and not watch so much tv.
Siloviki 