Triumph of gold, the anti-investment

April 21, 2011

In investing, extreme behavior is becoming more mainstream every day.

How else can we interpret the extraordinary moves by the University of Texas’ endowment fund to not only buy nearly $1 billion of gold, equal to about 5 percent of its assets, but to insist on taking physical delivery of the precious metal.

Currencies: war, tragedy or farce?

February 8, 2011

Call it what you like — war, tragedy or farce — but the disagreement over global currency exchange rates shows no sign of coming to a peaceful negotiated agreement.

UK austerity vs U.S. muddle

January 27, 2011

The trans-Atlantic economic contrast is shaping up as pitting British austerity against, not U.S. investment, but a do-little American muddle.

Much depends on, gulp, German consumer

January 13, 2011

If the euro is going to survive without a Depression, German consumers are going to have to behave in ways that are, well, distinctly un-German.