The Greatest Option Squeeze
This sustained call option buying has put a fire under the market, driving it to levels which are indefensible from a valuation perspective.
Global Oil market is set for an extended period of soft prices
We are on record as having forecast a general decline in the price of crude oil for the second half of 2020. Our overriding rationale for this stance is that we believe the optimistic views of a sw
Red Lights are flashing – “Canis canem edit”
Positive sentiment towards equities is practically at unprecedented levels. Valuations are at positive extremes which largely ignore the significant economics risks, which persist in the wake of th
A View of South Africa’s Financial Market Liquidity and Funding
The South African government has been dramatically exposed as an emperor without clothes in the first half of 2020 and they are no longer the borrower of choice for lending institutions.
Game Theory, Covid-19 and South African Public Finances
By virtually any metric South African government finances are in disarray. An already vulnerable position has been exacerbated by the entirely unexpected Covid-19 global pandemic.
The Gold-Oil Ratio, What Is It Telling Us?
The gold-oil ratio is a good indicator of the health of the economy, a low ratio indicates a healthy economy; whereas, a higher ratio indicates an economy in distress.
Shiller P/E ratio and US 10-Year Treasury Yield
With COVID-19 intensifying in the biggest economy in the world, we are experiencing an extraordinary period of volatility.
Housing Prices vs Inflation
Housing Prices vs Inflation Generally, several economic factors influence housing prices, with the biggest one being inflation. Economically speaking, inflation can be described as the rise in pric
A lower oil price is to be expected
A lower oil price is to be expected This opinion piece is based on an interview that Erik Townsend, host of Macro Voices podcast, had with Art Berman, an American Petroleum Geologist. Art Berman c
Gold in a time of crisis – our safe haven
“Gold is a way of going long on fear” – Warren Buffet The Coronavirus pandemic has seen a global health crisis turn into an economic one. It remains uncertain as to when the world will