We're in for a bear market in most asset classes during 2025. This piece integrates the macro and micro reasons for that conviction. The core conviction is that macro-risk is out of synch with market volatility. This will be resolved by market volatility rising as macro ... Read More

S. Korea Political Crisis - Update. Ultimately the South Korean political crisis will be resolved by constitutional reform and an election leading to a left-wing government. There’ll no further threat of a coup or imposition of martial law. The arrest warrant for impeached Presi... Read More