Monthly Archives: July 2017

Calm before the Storm?

The number of private equity firms has grown as the number of listed companies has shrunk. Multiples of private equity deals have grown and market multiples of listed companies have grown. Also, private equity firms have more dry powder than recent years while listed companies have leaned on share buybacks to spend their monies. What […]

Running out of steam

This morning Bill Gross posted his newest installment of his blog. In it, he claims that because rates are so low in and absolute sense, the yield curve will need to flatten less in absolute terms to be associated with past recessions. This is because so many have taken on large amounts of debt, especially […]

How to make the Bond Bear feel less scary. 

    I get it. There is an opportunity cost, on average, for owning bonds as opposed to stocks. With that comes more risk. Recently, many prominent investors have written about the end of the prolonged bond bull market where both income and capital appreciation have been ample. Does this mean they are pushing for stock […]