Musings on Markets

JANUARY 21, 2023

It is the nature of stocks that you have good years and bad ones, and much as we like to forget about the latter during market booms, they recur at regular intervals, if for no other reason than to remind us that risk is not an abstraction, and that stocks don't always win, even in the long term. at the start of that year.

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Musings on Markets

MARCH 19, 2022

The overriding message in all of this data is that Russia/Ukraine war has unleashed fears in the bond market, and once unleashed that fear has pushed up worries about default and default risk premia across the board. to 25% for the Eurozone.

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Musings on Markets

FEBRUARY 16, 2024

These are three very different stories, but what they share in common is a fear, imminent or expected, of a catastrophic event that may put a company's business at risk. Deconstructing Risk While we may use statistical measures like volatility or correlation to measure risk in practice, risk is not a statistical abstraction.

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Musings on Markets

APRIL 7, 2025

Not surprisingly, the markets opened down on Thursday and spent the next two days in that mode, with US equity indices declining almost 10% by close of trading on Friday. In percentage terms, energy stocks have lost the most in value, with market capitalizations dropping by 14.2%, dragged down by declining oil prices.

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