We’re approaching the end of March, and with that come signs of spring and the hopeful end of a prolonged winter. For sports fans, it is also the start of the NCAA College Basketball tournament, aptly nicknamed “March Madness” due to its frenetic style of play and general unpredictability. It is so unpredictable that Warren Buffett has...read more
When I visited Russia and Ukraine late last year I did not include Crimea in my itinerary. A region that contributes less than 3% to the country’s already small economy was never going to grip the imagination of foreign investors. How quickly things have changed. Sevastopol (home of the Russian Black Sea Fleet) and Simferopol (capital of Crimea...read more
Recently I attended the JP Morgan High Yield Bond and Leveraged Loan Conference in Miami, Florida. This is a marquee event for our industry that brings together a multitude of issuers and investors, as well as traders, sales and debt capital market professionals to discuss company prospects and new investment opportunities.
At the time of writing this blog, we are still early in the unfolding political drama between Russia and the Ukraine. The markets have taken a bit of a knock as a result. Having read various articles and listened to several calls, let me share a few of the early views that are emerging.
We know that President Putin has sent troops into...read more
One of the big questions facing markets today involves the relationship between the weather and the economy. There is no doubt that this has been a brutal winter (-15°C as I'm writing and it is already March!) and that it has contributed to the string of weaker than expected economic data out of the U.S. The trouble is we have no idea how much...read more
I recently returned from a week in Asia where I was looking to get a better sense of China's reform agenda and a one year update on Abenomics in Japan. You may recall a piece I wrote a year ago (Japan: Die Another Day) where I expressed skepticism regarding Japan's ability to deliver on their structural reform agenda. I would like to share a...read more
In February, my family took a trip to Mexico. In order to refresh myself on Mexico's macro story, I decided to go down a bit earlier. It seemed like a good time to check things out. President Nieto had been in office for a year now and country risk analysts have been discussing his broad reform agenda, known as the Pact for Mexico.
The Consumer Electronic Show 2014
We just came back for the Consumer Electronic Show (CES), where we saw the future trends of the industry. We have been attending this show over the past seven years and it keeps on getting bigger. With over 150,000 attendees, this is now the largest consumer electronics show in the...read more
The answer comes down to individual countries rather than simply “emerging markets”, since references to “emerging markets” as a homogenous group are becoming increasingly obsolete. To lump Ukraine and South Korea together, or to view Mexico and Egypt as similar investment destinations are clearly stretching the imagination.
At the same...read more