2022 first half has been quite harsh to many investors. Inflation readings are high with Bonds and Equities prices punishing most. One of the great frustration has been the lack of true volatility explosion. In fact equity volatility, VIX has been quite stable. The black line is the 6 months...
I recently wrote in an SGG Portfolio report: This is the 5 years US treasury Yield. The upper part of the chart is the PPO or Percentage Price Oscillator. The Percentage Price Oscillator (PPO) is a momentum oscillator that measures the difference between two moving averages as a percentage of...
The unprecedent COVID fiscal impulses are behind the hot "flation" debate. Expectations are getting more anchored which is, in my view, the principal headache for the FED. Google Trend provides us with a good "anxiety" snaphot of the situation. Bear in mind that inflation is a lagging indicator and...
You may have come across some info in regard to the Basel III potential impact on Gold price. Here is an article by Mathew Piepenberg via GoldSwitzerland.com, which covers pretty well the changes. The way I look at it is that physical gold price will probably become the main...
Following-up on my December 6th, 2020 post , there was a link about a great work done by Christopher Cole from Artemis Capital (The Allegory of hte Hawk and the Serpent). Here is a great interview he made last year with Danielle DiMartino https://youtu.be/SkfgEZtJ9LA
Back in July and August 2020, I had published updates on the yellow metal since Silver had broken an important resistance. Here is an update of GOLD/ZROZ (US treasury 30 year zero coupon bonds) or..future long term cash! (Above chart) GDX (Gold Miners)/ZROZ. Precious metal investors (Gold Bugs) have been a bit...
The two charts are a just an illustration over time of how I best view the principal driving forces behind the markets. What matters here, are the proportions and their respective empirical evolution. It varies countries from countries but since we all use the same monetary/economic system, the trip is...
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Dave Portnoy was playing Scrabble to buy stock. If I were to select two letters... I would select "E" & "X". I think that "Excesses" is the word which best defines 2020. Is this the "new normal"?
Nine years ago (august 2011), the Swiss National Bank (SNB) abandoned its EURCHF peg policy! Currency volatility hit extremes at the time but it marks an important regime change which has led to a constant over performance of the US stock market. Today the SNB holds an investment portfolio...
