Issue

Articles

Expect a non-inflationary boom in Europe

A conversation with Jean-Philippe Cotis, chief economist of the Organization for Economic Cooperation and Development (OECD).

·               Where are the opportunities?

After a great year for European stocks, we are in search of new attractive ideas. They abound in the Old Continent.

·                   No one is bearish on the euro.

A large survey by TheEuropeanside shows decisive optimism in the short-term.

·                  A Story of Wine.

How Europe benefits from the increasing number of wealthy people around the world.

·              Can the housing recession in the US cause a financial crisis?

Talking to an economist who began working at the Federal Reserve in the mid 1940s.

·                     Five Questions on the Euro

Consensus opinion is bullish on the euro. Let's test the thesis.

·                     Don’t be surprised if US bonds rally

A conversation with Edward Boehne, former president of the Federal Reserve of Philadelphia

·                     Mining for M&A nuggets in the basic resources sector

Issue # 06-September 27,2006

·                     Where is speculation?

Some argue European stocks are in a bubble.

But if so, the bubble lacks its main ingredient, massive participation by the public.

The out-performance of small- and mid-caps is the consequence of this lack of participation. And the scramble for liquidity makes stocks even more valuable driving interest rates down.

·                     The Fed may cut rates sooner than later

A conversation with Nobel Price winning professor Lawrence Klein and former central banker professor William Ford

Issue # 05-September 20,2006

·                  Expect a year-end rally in European stocks

Ten experts judge the outlook for the final 100 days of 2006.

·                   When the good news is that there's no news

Talking to maverick investor Jim Rogers

·                   Yes, equities are cheap

Even taking into consideration risks, some interest rates increase and the different treatment of goodwill depreciation, prices are not stretched in the euro-zone

Issue # 04-August 2,2006

·                     European stocks on the verge of rebounding

Tomorrow, Thursday August 3, the European Central Bank ought to push the cost of money to 3%. All in all monetary conditions remain accommodative. Equities should recover in a scenario of adequate earnings, low inflation and moderate growth.

·                     Oil toward $150?

An interview with Marc Faber

·                 Fed Funds at 5.5% by year-end

An interview with Laurence Meyer, former member of the Fed

Issue # 03-June 13,2006

·                     No excitement in bonds

A survey suggests euro-zone obligations ought to give ground just a little bit.

·                     Porsche: a good stock with some spice

·                     An Interview with Nobel Prize Winner Kenneth Arrow: “This is the best international economy ever”

Yes, there are some imbalances, but positive elements outweigh them.

The ‘70s with their vicious inflationary spiral are not coming back.

And the dollar, hopefully, will adjust gently.

Issue # 02-May 30,2006

·                     The Stock Market Correction Will Not Turn into a Rout

Analysts tend be optimistic despite the recent decline in equity prices.

·                     The Swiss Franc or the Euro? That is the question

Stability is expected. But if it comes to a choice, there is a slight preference for the Franc.

Driving through Switzerland.

·                     An Interview with Professor Robert Shiller:«What’s the next bubble?»

The man who saw the folly of the Nasdaq written on the wall inspects the markets in search of risks you would never want to see materialized.

Issue # 01-May 16,2006

·                     The dollar is landing, they say

In February, European banks were extremely bearish on the greenback. In hindsight, they hit the mark. A new survey this week shows an optimism tempered by moderation. On average, 1.30 is considered a good equilibrium level for the euro versus the dollar. 

·                     Gentlemen don’t buy stocks

Both retail and institutional investors have completely missed the great bull market of the last three years. Some may be start feeling anxious about it. If they reallocate some cash into stocks, greater firepower may be added to the market.

·                     The Season may favour some profit taking

A few statistical tables for your consulting.

·                     Confessions of a former central banker

Bond yields are going up, housing prices are bound to correct , and the Fed may raise rates more than you expect.

An interview with William Ford, ex chairman of the Federal Reserve of Atlanta