Musings on Markets

Happy New Year, and I hope that 2022 brings you good tidings! To start the year,  I returned to a ritual that I have practiced for thirty ye...

Investors are constantly in search of a single metric that will tell them whether a market is under or over valued, and consequently whether...

In my last post , I looked at the risk premiums in US markets, and you may have found that focus to be a little parochial, since as an inv...