Last April, I wrote that the Chinese stock market was red hot and that I didn’t watch China closely enough to say whether it was in a bubble, but it was an expensive market (click here for the article). By the end of summer, it was pretty clear that there was a bubble and that it was bursting (click here for the article), as we can see in the chart… Read More
One of the puzzling aspects of yesterday’s trading was that oil prices fell. When I read about the malaise between Saudi Arabia and Iran over the weekend, I assumed that oil prices would gap higher yesterday morning. Violence in the Middle East has always meant threats to output, which meant potentially lower supply or other disruptions that resulted in higher prices. In this case, though, the geopolitical tension between these… Read More
For me, reading the Wall Street Journal is a bit like eating, drinking and sleeping – I can’t really go without any of these things for very long. I think that their reporting is fair and accurate and definitely of interest to me. So, I was a bit annoyed when the Friday headlines read ‘US stocks Post Worst Annual Losses Since 2008.’ Now that headline is accurate – last year… Read More
