Boaz Shoshan

On the very same day Lehman Brothers filed for bankruptcy, the art market was booming in ways nobody had seen before. Damien Hirst had bypassed his art dealer and his gallery, and listed a large collection of his work directly…

The “reach for yield” – where investors take on more risk to scrape ever smaller returns – continues, despite the Federal Reserve and the Bank of England raising rates. It’ll take many more rate hikes without something breaking before we…

If you were a government looking to default on some debts and didn’t want to ruffle many feathers, who would you decide to default on? Which lender would be the most politically palatable victim? And which would damage your credit…

A short letter today. I’m just off to host a quarterly conference call with Tim Price for subscribers of The Price Report. With the tenth anniversary of Lehman Brothers’ bankruptcy just two days away, it’s a time for reflection. What’s…

“What joins men together is not the sharing of bread but sharing of enemies.” – Cormac McCarthy, Blood Meridian More than a year ago when we had a hung parliament, I suggested in Capital & Conflict that those wanting power…

Another week, another member of the elite rings the alarm on the growing risk in the financial system. Harald Malmgren was a senior economic adviser to presidents John F. Kennedy, Lyndon B. Johnson, Richard Nixon and Gerald Ford. A consummate…

Bloomberg reports that gold investors are “giving up hope”. Speculators in the gold futures market are making record bets on a crash… But if you tune out the noise of the media, hold your breath, and listen very closely… you…

4 July 1989. As Americans awoke to celebrate Independence Day, a lone Soviet fighter jet took off from Poland and began flying west. The pilot of the MiG-23 “Flogger” did not explain himself as he soared across Europe. Crossing Polish…

Bond investors are turning to John Denver songs to make money. Yes, you read that right. Country Roads and Leaving on a Jet Plane have become a substitute for bonds. Such is the state of the fixed income market. Who…

It was nice and cold in Edinburgh this weekend. It seems strange saying that, but this heatwave has turned our London office into a furnace. When I saw the sky go overcast through the train window shortly after crossing the…