Acting Man

Wrong FocusIf one searches for news on LIBOR (=London Interbank Offered Rate, i.e., the rate at which banks lend dollars to each other in the euro-dollar market), they are currently dominated by...

Unanimity SyndromeIf there is one thing apparently no one believes to be possible, it is a resurgence of consumer price inflation. Actually, we are not expecting it to happen either. If one compares...

A Case of Botched Timing, But…When last we wrote about the gold sector in mid February, we discussed historical patterns in the HUI following breaches of its 200-day moving average from below....

Blow-Off Pattern RecognitionAs noted in Part 1, historically, blow-patterns in stock markets share many characteristics. One of them is a shifting monetary backdrop, which becomes more hostile just as...

Defying Expectations Why is the stock market seemingly so utterly oblivious to the potential dangers and in some respects quite obvious fundamental problems the global economy faces? Why in...

The Technical Picture – a Comparison of AntecedentsWe wanted to post an update to our late December post on the gold sector for some time now (see “Gold – Ready to Spring Another...

Looming Currency and Liquidity ProblemsThe quarterly meeting of the Incrementum Advisory Board was held on January 11, approximately one month ago. As always, a broad range of topics was discussed;...

A Shift in ExpectationsWhen discussing the outlook for so-called “risk assets”, i.e., mainly stocks and corporate bonds (particularly low-grade bonds) and their counterparts on the...

Sentiment ExtremesBelow is an update of a number of interesting data points related to the gold market. Whether “interesting” will become “meaningful” remains to be seen, as...

A Quick Chart OverviewBelow is an overview of charts we picked to illustrate the current market situation. The selection is a bit random, but not entirely so. The first set of charts concerns...

A Very Odd Growth Spurt in the True Money SupplyThe growth rates of various “Austrian” measures of the US money supply (such as TMS-2 and money AMS) have accelerated significantly in...

Hidden MotivesIt is well-known that India’s government wants to coerce its population into “modernizing” its financial behavior and abandoning its traditions. The recent ban on...

We have witnessed truly astonishing short term market conniptions following the Donald Trump’s election victory. In this post we want to focus on one aspect that seems to be exercising people...

Pre-Election Market Movers – Mr. Comey and the Trio Infernal Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very...

Only Sell Stocks in Recessions?We were recently made aware of an interview at Bloomberg, in which Tony Dwyer of Cannacord and Brian Wieser of Pivotal Research were quizzed on the recently announced...

Andy Duncan Interviews Claudio GrassAndy Duncan of FinLingo.com has interviewed our friend Claudio Grass, managing director of Global Gold in Switzerland. Below is a transcript excerpting the main...