Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Wednesday, March 5, 2014

Russia in the doldrums

Putin's intervention in Ukraine is as much about domestic dynamics as foreign policy. The Russian economy is sliding into recession. After the Sochi spike, eco activity will slow.  So we'll play 'let's distract hoi polloi from the real issues'.

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