Newsletter

We Need A Generation Like Paul Volcker The passing of Paul Volcker this week has seen an outpouring of tributes to “the giant who slayed inflation”. Whilst he is most …
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Argentina and Lebanon are Broke, so let’s Lend to Angola The travails of Argentina are well known, they’ve defaulted on their debt yet again with bondholders now fretting over how …
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Shenanigans in Leveraged Loans There’s something of an ongoing battle between journalists looking to write a sensational article about US high yield debt and fund managers saying that their investments …
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The RBA’s decision yesterday to cut the Cash Rate to 0.75% was based on faulty logic and a short term focus. Philip Lowe’s speech in Armidale on September 24th laid …
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The media sometimes uses the terms “smart money” and “dumb money” to describe institutional and retail investors respectively. The premise is that institutions have full time employees that specialise in …
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The downgrade of Ford Motor Co this week by Moody’s from Baa3 to Ba1 (equivalent to BBB- and BB+ rating monikers for Standard and Poor’s) opens up the question of …
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