Deep Dive: Interest Rates and the Bond Market
In 2001, Jim O’Neil of Goldman Sachs coined the acronym BRIC to define an asset class for promoAng
investment through Goldman, of course, into Brazil, Russia, India, and China.
CCP
Deep Dive: Why the Dollar is Strengthening
In 2001, Jim O’Neil of Goldman Sachs coined the acronym BRIC to define an asset class for promoAng
investment through Goldman, of course, into Brazil, Russia, India, and China.
Deep Dive: The Rise of China
The rise of China has been one of the most transforma0ve developments in modern 0mes. I have a
friend from Shanghai who studied in Singapore and London and is now an investment professional at an
extremely influen:al investment firm in The City. I am honored to call her a client.
“Never in the field of human conflict was so much owed by so many…”
75% of the Perry Capital Portfolio remains AAA-rated, very short maturity, and very liquid securities.
I remain underweight in the equity market because the valuation metrics of risk assets are not discounting for
persistent inflation, higher funding rates, and a slowing economy to the degree necessary to be attractive.
“Never in the field of human conflict was so much owed by so many…” Read More »
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover…”
Be patient and remain defensive. I suspect that most assets you might be interested in buying will be available
at lower prices.
“What comes next is weak economies and tough policy choices.”
The battle at hand is to reduce inflation. The Fed has been aggressively raising Interest rates while
reducing its balance sheet by $95bn/month, liquidity is being drained from both the financial system and
the economy, and market volatility is rising. The ramifications will be significant. Therefore, I remain
defensive and have maintained the status quo in my portfolio.
“What comes next is weak economies and tough policy choices.” Read More »