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. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

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.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Tuesday, December 30, 2014


The so-called Liberal government of Australia is very hot on cutting benefits to the poor, on eviscerating Australia's free national health system, Medicare, while preserving tax write-offs and benefits for the wealthy.  It recently emerged that George Brandis, our Attorney-General, spent $1100 on a meal in London.  This is Broelman's take on this hypocrisy.

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