Pay attention to precious metals  “If you don’t own gold…there is no sensible reason other than you don’t know history or you don’t know the economics of it…“ Ray Dalio,

https://e-markets.nordea.com/#!/article/49828/week-ahead-all-about-that-fed I believe the relationship between data and the S&P 500 has been unprecedented in 2019. Looking at the chart above you see 2 very significant divergences in this relationship

Building a tower with blocks of wood can only go so far. It seems to work well in the beginning but at some point you know that every block you

“The number of zombie companies in advanced economies last year stood at 536, or 13% of the total, according to Bank of America Merrill Lynch.” https://www.cnn.com/2019/03/31/investing/stocks-week-ahead-zombie-companies-debt/index.html A September 2018 BIS

If you feel as though you are walking through an Alice in Wonderland film set, you are probably not alone. It appears “Out of sample” market experiences are proliferating across

Global growth is uniquely challenged with PMIs in significant downtrends at the same time in the US, China, Japan and Germany.  The US is the only one of these 4

From Risk To Instability For much of Summer 2018 I wrote about the multiple market extremes that emerged, and the associated substantial increase in risk. https://old-site.chris-belchamber.com/10-extremes-mean-risk-in-financial-never-never-land/ Shortly following, volatility accelerated