SPINOFFS: Announced breakups by GE (GE), Johnson & Johnson (JNJ) and Japan’s Toshiba highlight for many the ‘death of the conglomerate’. We are not so sure. Spin-offs have not...

SOFT COMMODITIES: A 55% surge in our ‘breakfast’ cost index the past year is outpacing the commodity rally and piling cost pressures on many. This is boosting inflation, interest...

SEASONALITY: S&P 500 has rebounded 9% from October low. This begs the question if the seasonal Santa rally came early? Partly. We are near our 4,700 end year target, but with...

EVERYTHING RALLY: Equities have set new records and resilient to rising inflation. We are positive on the fundamentals, seeing more profit surprises ahead, and still low bond...

NEXT TESLA: Yesterday saw the year’s biggest IPO, of electric SUV maker Rivian (RIVN). The c.$100 billion valuation reflects the booming EV outlook. Industry volumes are seen...

EXPECTING: China’s 13th annual Singles Day shopping event tomorrow is the world’s largest. But this year is different. It has a longer sales-season (like last, for the first...

FEMALE CEO’S: The number of female investors is growing faster than men. They invest differently, and often do better. The same is true for female CEO’s. The percentage of large...

SIGNS OF LIFE: ‘Re-opening’ stocks should accelerate. Attention focused on car rental this week, as Avis (CAR) share price doubled after strong results. But all should benefit as...

STARS RE-ALIGNING: Small caps are recovering after going nowhere for six months. They are very exposed to the virus-driven economic rebound, and valuations are at decade lows....

BOND OR EQUITY INVESTORS? Bond investors are expecting high levels of volatility. Equity investors see little volatility (see chart) and lower tail-risks. Bond investors expect...