This saying recently inspired me when uttered by a person near and dear to my heart. And no, it was not somebody famous, and more emphatically no!, these thoughts are not to be construed to be political in any way. That I feel I must stress this point is, to…


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There…I said it! I broke the finance profession’s oath, and therefore committed a sacrilege, which may cause me to be expelled from the world of professional market analysts. However, I appear to still be standing. …


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Apple (AAPL) and Tesla (TSLA) are arguably among the best know companies, globally. Moreover, I continue to believe that the markets know essentially everything knowable, and are quite efficient, in the long run. Still, I also believe that — as well known as AAPL and TSLA are — their stocks…


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Why have I not officially adopted ESG investing? ESG (acronym for environmental, social and governance) has been broadly embraced by the financial industry, which I criticize in my book Against #shortermism. Wall Street tends towards a ‘flavor-of-the-week’ marketing approach, touting ever-changing investment themes.

While a vast majority (if not all)…


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An intensification of the debate as to the true efficiency of markets appears to currently be taking place. There is very little question that polarization abounds around the world these days. …


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My son Anthony went to a concert in Berlin Monday night. It was a shocking reminder for him of just how many Brits seem to live in Germany’s capital. “I wonder what would happen,” he mused rhetorically, “if all of them were compelled to leave Berlin after Brexit?” He, of…


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The liquidity curse is over!

An area that has occupied much of my thinking on equities recently has to do with the importance (or lack thereof) of the entities ultimately owning the equity in companies long-term. …


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I have long been bullish on German equities, and generally incorrectly so, as in our business, being too early is really no different from being plainly wrong. …


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In the long run, which is what really matters, I am increasingly convinced the world belongs to the self-confident. In yet another example of my thesis that there is such a thing as too much of a good thing, nonetheless, at the extreme, self-confidence also becomes a defect. …


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The question as to whether the current era of ever-diminishing yields is indeed the era of risk-less returns or return-less risks is an ever more important one. Many observers seem to equate the current environment of low yields to one of low investment returns. …

Claudio Brocado

Indep. GLOBAL portfolio mgr; former PM at $LM's Batterymarch,Fidelity,Putnam & RCM (now Allianz Global Investors).Crusader for #finlit & vs #shortermism. RT ≠ E

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