tag:blogger.com,1999:blog-8054656904891406082024-03-05T10:01:17.600-08:00LinksLinks with trending macro focus, but leaning towards Asia.Unknownnoreply@blogger.comBlogger782125tag:blogger.com,1999:blog-805465690489140608.post-84738539029984755802024-02-27T03:14:00.001-08:002024-02-27T03:14:38.288-08:00<div class="WordSection1"> <p class="MsoNormal"><span style="font-family:"Comic Sans MS"">People who are made anxious by ambiguity and novelty wind up being political conservatives, <o:p></o:p></span></p> <p class="MsoNormal"><span style="font-size:20.0pt;font-family:"French Script MT"">Sheepy though process - if the future is different –it is kind of disgusting – if it’s disgusting it’s wrong wrong wrong ..and that’s it<o:p></o:p></span></p> <p class="MsoNormal"><a href="https://open.spotify.com/episode/4uzO5YJ0k7HeELtjm9ZAdq?si=9f72e802e0644826">https://open.spotify.com/episode/4uzO5YJ0k7HeELtjm9ZAdq?si=9f72e802e0644826</a><o:p></o:p></p> <p class="MsoNormal"><o:p> </o:p></p> <p class="MsoNormal"><a href="https://www.theguardian.com/books/2023/oct/24/determined-life-without-free-will-by-robert-sapolsky-review-the-hard-science-of-decisions">https://www.theguardian.com/books/2023/oct/24/determined-life-without-free-will-by-robert-sapolsky-review-the-hard-science-of-decisions</a><br> <br> <span style="mso-ligatures:none"><o:p></o:p></span></p> <p class="MsoNormal"><o:p> </o:p></p> </div> <h3>CONFIDENTIAL NOTE:</h3> The information contained in this email is intended only for the use of the individual or entity named above and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete the mail. Thank you. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-21095841705995513632024-01-05T07:51:00.001-08:002024-01-05T07:51:42.618-08:00<div class="WordSection1"> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <b><span style="font-size:24.0pt;font-family:"Segoe UI",sans-serif;color:#32373C">52 Snippets from 2023<o:p></o:p></span></b></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><a href="https://snippet.finance/52-snippets-from-2023/">https://snippet.finance/52-snippets-from-2023/</a><o:p></o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p> </o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p> </o:p></span></p> <p class="MsoNormal"><span style="color:black;background:#355778">Oyster cards as digital money</span><o:p></o:p></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151">The rise of Central Bank Digital Currencies (CBDCs) sparks concerns about increased state surveillance over spending habits. While fears of government monitoring prompt debates and resistance from some quarters like Governor Ron DeSantis of Florida, analyzing London's transport payment systems, particularly the Oyster cards, sheds light on the dynamics between convenience and privacy in electronic payment systems. CBDCs, being a potential replacement for physical cash, raise the question of how much individuals prioritize privacy in their transactions.<o:p></o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p> </o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151">Electronic payment systems inherently create transaction trails, raising concerns about state intrusion and control. The debate around CBDCs revolves around balancing the state's access to transactional data and individual privacy rights. While some argue that such fears are overstated, given existing surveillance methods like bank account monitoring and CCTV access, the fundamental question remains: do people truly prioritize privacy over convenience in their transactions? Surveys and public consultations attempt to gauge public sentiment on privacy in electronic payments, but these methods may not fully capture real-world behavior.<o:p></o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p> </o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151">London's Transport for London (TfL) inadvertently presents a revealing case study on privacy preferences in payment systems. Different payment methods, from paper tickets to contactless cards, offer varying degrees of privacy. Unregistered Oyster cards provide near-anonymous transactions, while contactless cards hold minimal to significant user information. Despite privacy differences, data analysis reveals a clear trend favoring convenience over privacy. The usage of contactless debit and credit cards for travel has surged, while the use of pay-as-you-go Oyster cards has declined significantly.<o:p></o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p> </o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151">This shift indicates that most individuals prioritize the convenience of direct debit or credit card payments over the additional privacy offered by unregistered Oyster cards. The trend showcases the dominance of convenience in driving payment choices. Moreover, the inconvenience of topping up Oyster cards compared to direct bank account payments plays a significant role in adoption preferences. This preference for convenience raises doubts about the potential adoption of CBDCs, as their perceived inconvenience might hinder widespread acceptance, outweighing concerns about privacy invasion. Central banks considering CBDC implementation should heed the pivotal role of convenience in shaping consumer behavior and adoption trends.<o:p></o:p></span></p> <p class="MsoNormal" style="mso-margin-top-alt:6.0pt;margin-right:0cm;margin-bottom:6.0pt;margin-left:0cm;background:white"> <span style="color:black"></span><span style="font-size:12.0pt;font-family:"Segoe UI",sans-serif;color:#374151"><o:p></o:p></span></p> </div> <h3>CONFIDENTIAL NOTE:</h3> The information contained in this email is intended only for the use of the individual or entity named above and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete the mail. Thank you. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-7016370545930054812023-09-29T04:43:00.001-07:002023-09-29T04:43:27.733-07:00<div class="WordSection1"> <p class="MsoNormal"><a href="https://www.ft.com/content/651cc7a4-27e3-4026-9381-76421a0203bb">https://www.ft.com/content/651cc7a4-27e3-4026-9381-76421a0203bb</a><o:p></o:p></p> <p class="MsoNormal"><o:p> </o:p></p> <p class="MsoNormal">‘In principle, you do not really need more than two: a global equity fund and a broad bond fund in your own currency, with the relative amounts a function of your return needs, ability to withstand short-term drawdowns, and need to control long-term risk on your ultimate portfolio. This gives you very good diversification, clarity and simplicity on what you are holding, and high liquidity with minimum costs if held through passive funds, mutual or exchange traded (ETFs).’<br> <br> <br> ‘<span style="font-size:10.5pt;font-family:"Segoe UI",sans-serif;color:black;background:#F2F2F2">investors often overvalue liquidity’</span><o:p></o:p></p> </div> <h3>CONFIDENTIAL NOTE:</h3> The information contained in this email is intended only for the use of the individual or entity named above and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete the mail. Thank you. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-88155095565381895972023-01-04T03:01:00.001-08:002023-01-04T07:34:36.820-08:002023 outllooks<div class="WordSection1"> <p class="MsoNormal"><span face=""Segoe UI",sans-serif" style="background: white; color: #242424; font-size: 10.5pt;">Goldman Sachs </span><a href="https://lnkd.in/eKzF_2K4" target="_blank" title="https://lnkd.in/eKzF_2K4"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eKzF_2K4</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">J.P. Morgan </span></span><a href="https://lnkd.in/eHb6-622" target="_blank" title="https://lnkd.in/eHb6-622"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eHb6-622</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Morgan Stanley </span></span><a href="https://lnkd.in/e2nAMjmM" target="_blank" title="https://lnkd.in/e2nAMjmM"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/e2nAMjmM</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Bank of America </span></span><a href="https://lnkd.in/e8XFD8TW" target="_blank" title="https://lnkd.in/e8XFD8TW"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/e8XFD8TW</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">BlackRock </span></span><a href="https://lnkd.in/eYxCBRGj" target="_blank" title="https://lnkd.in/eYxCBRGj"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eYxCBRGj</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">HSBC </span></span><a href="https://lnkd.in/eNfBiJvH" target="_blank" title="https://lnkd.in/eNfBiJvH"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eNfBiJvH</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Barclays </span></span><a href="https://lnkd.in/eRT4dsFY." target="_blank" title="https://lnkd.in/eRT4dsFY."><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eRT4dsFY.</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">NatWest </span></span><a href="https://lnkd.in/euftbUw6" target="_blank" title="https://lnkd.in/euftbUw6"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/euftbUw6</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Citi </span></span><a href="https://lnkd.in/eXwA-Y4X" target="_blank" title="https://lnkd.in/eXwA-Y4X"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eXwA-Y4X</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">UBS </span></span><a href="https://lnkd.in/exudCU6V" target="_blank" title="https://lnkd.in/exudCU6V"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;">https://lnkd.in/exudCU6V</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Credit Suisse </span></span><a href="https://lnkd.in/e4CEK5NZ" target="_blank" title="https://lnkd.in/e4CEK5NZ"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/e4CEK5NZ</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">BNP Paribas </span></span><a href="https://lnkd.in/ec4hWEdm" target="_blank" title="https://lnkd.in/ec4hWEdm"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/ec4hWEdm</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Deutsche Bank </span></span><a href="https://lnkd.in/eAWCSV_7" target="_blank" title="https://lnkd.in/eAWCSV_7"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eAWCSV_7</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">ING </span></span><a href="https://lnkd.in/eNpdmVH8" target="_blank" title="https://lnkd.in/eNpdmVH8"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/eNpdmVH8</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Apollo Global Management, Inc. </span></span><a href="https://lnkd.in/ewwq_62M" target="_blank" title="https://lnkd.in/ewwq_62M"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/ewwq_62M</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">Wells Fargo </span></span><a href="https://lnkd.in/euMkQnKE" target="_blank" title="https://lnkd.in/euMkQnKE"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/euMkQnKE</span></a><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><br /> <span style="background: white;">BNY Mellon </span></span><a href="https://lnkd.in/ezMfVgND" target="_blank" title="https://lnkd.in/ezMfVgND"><span face=""Segoe UI",sans-serif" style="background: white; border: 1pt none windowtext; color: #4f52b2; font-size: 10.5pt; padding: 0cm; text-decoration: none;">https://lnkd.in/ezMfVgND</span></a><o:p></o:p></p> <p class="MsoNormal"><o:p> </o:p></p> <p class="MsoNormal"><o:p> </o:p></p> <p style="background: rgb(232, 235, 250); margin: 0cm;"><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">JPM sum up the general samey narrative well with their </span><strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Trends to watch</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">“An end to rate hikes as inflation peaks</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">As inflation peaks and eventually starts to decline,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">central banks will stop hiking rates in Q1/Q2 2023.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">However, we do not expect rate cuts in 2023<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">because inflation will remain above central bank<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">targets.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Growth set to stay low</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Global growth is decelerating, and with monetary<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">policy reaching restrictive territory, we believe that it<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">will generally stay weak in 202<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Fiscal challenges ahead</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Public support measures to combat the cost-of-living<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">crisis and increasing defense spending mean budget<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">deficits will stay high. As borrowing costs remain<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">elevated, governments are likely to increase taxes to<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">finance spending.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Globalization dialed back</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">As the world becomes more multipolar with the<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">emergence of various political spheres of influence,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">we expect global trade as a share of GDP to decline<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">and strategic sectors to be repatriated.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">The fixed income renaissance</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">As bond yields reset at higher levels, inflation peaks,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">and central banks stop rate hikes, fixed income<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">returns look more attractive. Emerging market hard<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">currency sovereign bonds, US government bonds,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">investment grade corporate bonds and selected yield<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">curve steepening strategies look particularly interesting.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Equity markets remain volatile</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Contraction of equity markets’ valuation is well<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">advanced, though challenged corporate profitability<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">from the weak economic backdrop and margin<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">pressure should still lead to headwinds and volatility<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">going into 2023. We prefer defensive sectors,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">regions and strategies with stable earnings, low<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">leverage and pricing power, such as Swiss equities,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">healthcare and quality stocks. Defensive Super-trends<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">such as Silver economy, Infrastructure and<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Climate change should also prove less volatile.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">USD seen staying strong</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">The USD should be supported by its interest rate<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">advantage for most of 2023. As a result, we expect<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">the USD to stay strong, particularly versus emerging<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">market currencies such as the CNY. However, some<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">developed market currencies such as the JPY are<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">now undervalued and could stage a turnaround and<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">appreciate at some point.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">A good year for most alternative investments</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Hedge funds should deliver above-average returns,<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">and 2023 is also likely to be a good vintage year for<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">private equity. Secondaries and private debt should<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">do well. In real estate, we prefer listed over direct<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">solutions.<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"> <o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">Multi-asset diversification returns</span></strong><span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;"><o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">As bond yields have reset at higher levels, fixed<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">income as an asset class has gained relative<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">attractiveness compared to equities. Diversification<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">benefits should return as central banks stop hiking<o:p></o:p></span></p> <p style="-webkit-font-smoothing: antialiased; -webkit-text-stroke-width: 0px; background: rgb(232, 235, 250); box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 0cm; margin-left: 36pt; margin-right: 0cm; mso-margin-top-alt: 0cm; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;"> <span face=""Segoe UI",sans-serif" style="color: #242424; font-size: 10.5pt;">rates. </span></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-26952916990930851222022-11-25T03:21:00.001-08:002023-01-04T07:36:09.207-08:00<div class="WordSection1"> <p class="MsoNormal"><a href="https://www.forbes.com/sites/jmaureenhenderson/2014/12/16/why-the-open-concept-office-trend-needs-to-die/?sh=6780b866603a">https://www.forbes.com/sites/jmaureenhenderson/2014/12/16/why-the-open-concept-office-trend-needs-to-die/?sh=6780b866603a</a></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-42057534988054605912022-10-06T00:47:00.001-07:002022-10-07T08:36:39.416-07:00<div dir="auto"><br /></div><div dir="auto"><div class="style-scope ytd-watch-metadata" id="title" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; margin: 0px; padding: 0px;"><h1 class="style-scope ytd-watch-metadata" style="-webkit-box-orient: vertical; -webkit-line-clamp: 2; background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; display: -webkit-box; font-family: "YouTube Sans", Roboto, sans-serif; font-size: 2rem; line-height: 2.8rem; margin: 0px; max-height: 5.6rem; overflow: hidden; padding: 0px; text-overflow: ellipsis; word-break: break-word;"><yt-formatted-string class="style-scope ytd-watch-metadata" force-default-style=""><a href="https://youtu.be/pofTr1QKiBk">Liz Truss: The Oligarch's Prime Minister | George Monbiot</a></yt-formatted-string></h1><div><br /></div><div><br /></div></div><div class="style-scope ytd-watch-metadata" id="top-row" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; display: flex; flex-flow: row wrap; justify-content: flex-start; margin: -4px 0px 0px; padding: 0px;"><div class="item style-scope ytd-watch-metadata" id="description" style="--ytd-text-inline-expander-button-color: var(--yt-spec-text-primary); background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; flex: 1 1 1e-09px; font-family: Roboto, Arial, sans-serif; font-size: 1.4rem; line-height: 2rem; margin: 12px 12px -4px 0px; min-width: calc(50% - 12px); padding: 0px;"><div class="style-scope ytd-watch-metadata" id="description-inner" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; margin: 0px; padding: 0px;"><tp-yt-paper-tooltip class="style-scope ytd-watch-metadata" for="info" role="tooltip" style="background-color: #f9f9f9; color: #030303; cursor: default; display: block; font-size: 14px; outline: none; position: absolute; user-select: none; z-index: 1002;" tabindex="-1"></tp-yt-paper-tooltip><ytd-text-inline-expander class="style-scope ytd-watch-metadata" id="description-inline-expander" style="background-color: #f9f9f9; color: #030303; contain: content; display: block; font-size: 14px; line-height: 2rem; max-width: 615px; overflow: hidden; position: relative;"></ytd-text-inline-expander></div></div></div></div><div dir="auto"><h1 class="dcr-amp-1h7b9gs" style="background-color: #fef9f5; border: 0px; box-sizing: border-box; color: #121212; font-family: "GH Guardian Headline", "Guardian Egyptian Web", Georgia, serif; font-size: 1.75rem; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-ligatures: common-ligatures; font-variant-numeric: inherit; font-weight: 100; line-height: 1.15; margin: 0px; padding: 3px 0px 0px; vertical-align: baseline;"><a href="https://amp-theguardian-com.cdn.ampproject.org/v/s/amp.theguardian.com/commentisfree/2022/oct/05/quiet-quitters-loud-labourers-talk-work?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIKAGwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=16650287249249&csi=0&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.theguardian.com%2Fcommentisfree%2F2022%2Foct%2F05%2Fquiet-quitters-loud-labourers-talk-work">Quiet quitters’ aren’t the problem. Save your ire for the ‘loud labourers’</a></h1></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-31387397519290214132022-09-30T05:30:00.001-07:002022-10-07T08:38:13.611-07:00<div class="WordSection1"> <p class="MsoNormal">‘<span style="background: white; color: #121212; font-family: "Georgia",serif; font-size: 13pt;">the International Monetary Fund said it was concerned about the UK government adding £45bn of tax cuts to £150bn of spending. With almost £200bn added to the UK’s debt pile over the next four years under this plan</span>’<o:p></o:p></p> <p class="MsoNormal"><a href="https://www.theguardian.com/business/2022/sep/28/what-bank-of-england-doing-pound-dollar-uk-economy-interest-rates-bonds">https://www.theguardian.com/business/2022/sep/28/what-bank-of-england-doing-pound-dollar-uk-economy-interest-rates-bonds</a><o:p></o:p></p> </div> <h3></h3>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-27461399068908723472020-09-11T02:41:00.001-07:002020-10-08T02:12:45.126-07:00<div class="WordSection1"> <p class="MsoNormal"><span style="font-size: 15pt;">Fixing systemic problems is more difficult than spewing moralism</span><o:p></o:p></p> <p class="MsoNormal"><a href="https://www.economist.com/open-future/2019/06/28/globalisation-is-dead-and-we-need-to-invent-a-new-world-order">https://www.economist.com/open-future/2019/06/28/globalisation-is-dead-and-we-need-to-invent-a-new-world-order</a><o:p></o:p></p> <p class="MsoNormal"><o:p> </o:p></p> <p class="MsoNormal"><a href="https://www.theatlantic.com/health/archive/2020/09/pandemic-intuition-nightmare-spiral-winter/616204/">https://www.theatlantic.com/health/archive/2020/09/pandemic-intuition-nightmare-spiral-winter/616204/</a><o:p></o:p></p> </div> <h3><br /></h3>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-57593836288351025982020-02-26T07:35:00.001-08:002020-04-20T02:59:55.575-07:00<div class="WordSection1">
<div class="MsoNormal">
The American dream of Humanity, empathy and capitalism with a conscience is alive and well, but alive and well in Canada<o:p></o:p></div>
<div class="MsoNormal">
“<a href="https://twitter.com/search?f=tweets&vertical=default&q=from%3A%40profgalloway%20%23hottake&src=typd">from:@profgalloway #hottake</a>” on Twitter. <o:p></o:p></div>
<div class="MsoNormal">
WeWTF<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.profgalloway.com/wewtf">https://www.profgalloway.com/wewtf</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
worth a listen The missing Cryptoqueen<o:p></o:p></div>
<div class="MsoNormal">
https://www.bbc.co.uk/programmes/p07nkd84</div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-64407018277605993592020-02-19T08:03:00.001-08:002020-04-20T03:00:22.359-07:00<div class="WordSection1">
<div class="MsoNormal">
when that narrative cracks, going Galactic<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://ftalphaville.ft.com/2020/02/18/1582025119000/Virgin-Galactic-is-rocketing--when-s-it-returning-to-earth-/">https://ftalphaville.ft.com/2020/02/18/1582025119000/Virgin-Galactic-is-rocketing--when-s-it-returning-to-earth-/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
We Decided to Run Our Core Services Without Blockchain<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://digitalasset.live/2020/02/11/fsight-christian-kern-interview/">https://digitalasset.live/2020/02/11/fsight-christian-kern-interview/</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-53476721171443057162020-02-17T03:35:00.001-08:002020-04-20T03:01:33.206-07:00<div class="WordSection1">
<div class="MsoNormal">
<a href="https://heated.medium.com/you-should-be-eating-more-canned-fish-bbf84969b063">https://heated.medium.com/you-should-be-eating-more-canned-fish-bbf84969b063</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://www.quimetquimet.com/">https://www.quimetquimet.com/</a><o:p></o:p></div>
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<br /></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-61070400426696788742020-02-10T07:22:00.001-08:002020-04-20T03:01:42.375-07:00<div class="WordSection1">
<div class="MsoNormal">
How McKinsey Destroyed the Middle Class<o:p></o:p></div>
<div class="MsoNormal">
Technocratic management, no matter how brilliant, cannot unwind structural inequalities.<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.theatlantic.com/ideas/archive/2020/02/how-mckinsey-destroyed-middle-class/605878/">https://www.theatlantic.com/ideas/archive/2020/02/how-mckinsey-destroyed-middle-class/605878/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
50 Cognitive Biases in the Modern World<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.visualcapitalist.com/50-cognitive-biases-in-the-modern-world/">https://www.visualcapitalist.com/50-cognitive-biases-in-the-modern-world/</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-69652409834813780732020-01-22T02:35:00.001-08:002020-04-20T03:01:51.368-07:00<div class="WordSection1">
<div class="MsoNormal">
<a href="https://www.fark.com/">https://www.fark.com/</a><o:p></o:p></div>
<div class="MsoNormal">
<span style="color: #5f6368; font-family: "segoe ui" , sans-serif; font-size: 10.0pt;"><a href="https://www.crunchbase.com/">https://www.crunchbase.com/</a></span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-35992632212199228812020-01-16T00:05:00.001-08:002020-04-20T03:02:01.846-07:00japan chat<div class="WordSection1">
<div class="MsoNormal">
<a href="https://boingboing.net/2020/01/15/25-useful-japanese-words-for-e.html">https://boingboing.net/2020/01/15/25-useful-japanese-words-for-e.html</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-83726844308377471612020-01-09T06:13:00.001-08:002020-04-20T03:02:16.859-07:00best of MIB<div class="WordSection1">
<div class="MsoNormal">
https://ritholtz.com/2020/01/mib-best-of-2019/</div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-81210891010249710262019-12-09T03:05:00.001-08:002020-04-20T03:02:28.985-07:00you're probably bored today<div class="WordSection1">
<div class="MsoNormal">
Vid<o:p></o:p></div>
<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://www.theringer.com/year-in-review/2019/12/6/20995987/best-tv-episodes-year-2019-barry-watchmen-fleabag" target="_blank">The best TV episodes of 2019. (theringer.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://slate.com/culture/2019/12/best-tv-shows-2019-willa-paskin-fleabag-succession.html" target="_blank">The 10 best TV shows of 2019. (slate.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://www.theringer.com/tv/2019/12/4/20994045/best-tv-shows-2019" target="_blank">The best TV shows of 2019. (theringer.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://www.esquire.com/entertainment/tv/g29861786/best-tv-shows-of-the-2010s/" target="_blank">The 10 best TV shows of the past decade. (esquire.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://variety.com/2019/tv/columns/the-best-non-netflix-shows-on-netflix-1203411580/" target="_blank">The best non-Netflix shows now on Netflix ($NFLX). (variety.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://www.buzzfeednews.com/article/adambvary/the-25-best-tv-episodes-of-the-decade" target="_blank">The 25 best episodes of TV from the past decade. (buzzfeednews.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1;"><a href="https://kottke.org/19/12/the-most-popular-tv-shows-1986-2019" target="_blank">The most popular TV shows visualized from 1986 to 2019. (kottke.org)</a> <o:p></o:p></li>
</ul>
<div class="MsoNormal">
MUSIC<o:p></o:p></div>
<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.gq.com/story/the-best-songs-of-2019" target="_blank">The best songs of 2019. (gq.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://variety.com/2019/music/opinion/best-albums-2019-taylor-swift-billie-eilish-1203423079/" target="_blank">The best albums of 2019. (variety.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.theringer.com/music/2019/12/3/20992882/best-albums-2019-lana-del-rey-megan-thee-stallion-purple-mountains-billie-eilish" target="_blank">The best albums of 2019. (theringer.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.nytimes.com/2019/12/05/arts/music/best-albums.html" target="_blank">The best albums of 2019. (nytimes.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.pastemagazine.com/articles/2019/12/best-albums-of-2019.html" target="_blank">The 50 best albums of 2019. (pastemagazine.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.gq.com/story/best-albums-of-2019" target="_blank">21 of our favorite albums of 2019. (gq.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.newyorker.com/culture/2019-in-review/the-best-music-of-2019-and-the-best-music-of-the-decade" target="_blank">The best music of 2019 (and the decade). (newyorker.com)</a> <o:p></o:p></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2;"><a href="https://www.rollingstone.com/music/music-lists/best-albums-2010s-ranked-913997/" target="_blank">The 100 best albums of the 2010s. (rollingstone.com)</a></li>
</ul>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-81438553754278418622019-11-04T07:02:00.001-08:002020-04-20T03:02:38.540-07:00Is a bank about to go bust? repo explanations..<div class="WordSection1">
<div class="MsoNormal">
The risks behind foreign banks’ dollar funding<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://ftalphaville.ft.com/2019/10/16/1571257521000/The-risks-behind-foreign-banks--dollar-funding-/">https://ftalphaville.ft.com/2019/10/16/1571257521000/The-risks-behind-foreign-banks--dollar-funding-/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
A story about a liquidity regime shift<br /> <a href="https://ftalphaville.ft.com/2019/09/17/1568721798000/A-story-about-a-liquidity-regime-shift/">https://ftalphaville.ft.com/2019/09/17/1568721798000/A-story-about-a-liquidity-regime-shift/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.forbes.com/sites/caitlinlong/2019/09/25/the-real-story-of-the-repo-market-meltdown-and-what-it-means-for-bitcoin/#1146d3057caa">https://www.forbes.com/sites/caitlinlong/2019/09/25/the-real-story-of-the-repo-market-meltdown-and-what-it-means-for-bitcoin/#1146d3057caa</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-57686451924426082242019-10-29T09:18:00.000-07:002020-04-20T03:04:22.454-07:00really<div class="WordSection1">
<div class="MsoNormal">
We’ll you’ve got a quirky sense of ironic detachment, or you’re just commenting on what’s going on. Or perhaps you’re not going to make a joke , but signal that a joke is being made without actually making one<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Adam and Louis</div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-52540078827480863602019-10-15T05:59:00.001-07:002020-04-20T03:02:51.326-07:00<div class="WordSection1">
<div class="MsoNormal">
Ethereum Is No Longer a Monopoly Platform for Stablecoins<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://cointelegraph.com/news/ethereum-is-no-longer-a-monopoly-platform-for-stablecoins">https://cointelegraph.com/news/ethereum-is-no-longer-a-monopoly-platform-for-stablecoins</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-10102768769333168392019-10-02T02:03:00.001-07:002020-04-20T03:03:09.182-07:00<div class="WordSection1">
<div class="MsoNormal">
<a href="https://www.bloomberg.com/news/articles/2019-09-30/silicon-valley-calls-summit-to-disrupt-ipos-bankers-not-welcome">https://www.bloomberg.com/news/articles/2019-09-30/silicon-valley-calls-summit-to-disrupt-ipos-bankers-not-welcome</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-75449183534134738142019-09-23T06:41:00.001-07:002020-04-20T03:05:24.842-07:00<div class="WordSection1">
<div class="MsoNormal">
<a href="https://www.theguardian.com/business/2019/sep/20/the-men-who-plundered-europe-city-of-london-practices-on-trial-in-bonn">https://www.theguardian.com/business/2019/sep/20/the-men-who-plundered-europe-city-of-london-practices-on-trial-in-bonn</a></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-61698812989273231262019-09-13T00:39:00.001-07:002020-04-20T03:06:31.543-07:00mog<div class="WordSection1">
<div class="MsoNormal">
<a href="https://ftalphaville.ft.com/2019/09/12/1568281802000/No-deal-Brexit-is-not-a-hedge-fund-conspiracy/">https://ftalphaville.ft.com/2019/09/12/1568281802000/No-deal-Brexit-is-not-a-hedge-fund-conspiracy/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://ftalphaville.ft.com/2018/02/08/2198570/jacob-rees-moggs-huge-personal-windfall-after-brexit/">https://ftalphaville.ft.com/2018/02/08/2198570/jacob-rees-moggs-huge-personal-windfall-after-brexit/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://www.ft.com/content/d9f42362-aea0-11e7-beba-5521c713abf4">https://www.ft.com/content/d9f42362-aea0-11e7-beba-5521c713abf4</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-39991200053782825602019-07-18T01:03:00.003-07:002020-04-20T03:05:46.897-07:00<div class="WordSection1">
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://www.newstatesman.com/politics/uk/2016/07/boris-johnson-peddled-absurd-eu-myths-and-our-disgraceful-press-followed-his">https://www.newstatesman.com/politics/uk/2016/07/boris-johnson-peddled-absurd-eu-myths-and-our-disgraceful-press-followed-his</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="background: white; color: #222222; font-family: "georgia" , serif; font-size: 12.0pt;">‘With a few honourable exceptions – such as the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Financial Times</span></em>, the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Times</span></em>and the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Guardian</span></em> – the referendum coverage was merely a supercharged version of what had gone before. It was led by the biggest broadsheet (the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Telegraph</span></em>), the biggest mid-market paper (the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Mail</span></em>) and the biggest tabloid (the <em><span style="border: none 1.0pt; font-family: "georgia" , serif; padding: 0cm;">Sun</span></em>).’<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background: white; color: #222222; font-family: "georgia" , serif; font-size: 12.0pt;"><br /> The Times…hmm, worth looking at the Times on the 4<sup>th</sup> of June, great pic of David Cam rejoicing the Brexit party results (small note he was at the footy)</span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-28945660463550648692019-07-18T01:03:00.001-07:002020-04-20T03:05:58.876-07:00<div class="WordSection1">
<div class="MsoNormal">
James Montier: 'How Do I Get Paid for Owning This Asset?'<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://the-long-view.simplecast.com/episodes/james-montier-how-do-i-get-paid-for-owning-this-asset">https://the-long-view.simplecast.com/episodes/james-montier-how-do-i-get-paid-for-owning-this-asset</a><o:p></o:p></div>
<div class="MsoNormal">
<br /> According to Montier, some 83 per cent of IPOs this year have come to market with negative EPS<br /> <a href="https://ftalphaville.ft.com/2019/03/15/1552664233000/GMO-s-Montier-on-the-rise-of-the-dual-economy/">https://ftalphaville.ft.com/2019/03/15/1552664233000/GMO-s-Montier-on-the-rise-of-the-dual-economy/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
ESG investing.<o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.pragcap.com/my-view-on-esg-investing/">https://www.pragcap.com/my-view-on-esg-investing/</a><o:p></o:p></div>
<div class="MsoNormal">
<br /> https://podcasts.apple.com/us/podcast/against-the-rules-with-michael-lewis/id1455379351<o:p></o:p></div>
<div class="MsoNormal">
Michael Lewis’s podcast, Against the Rules.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://www.imdb.com/title/tt8289930/">‘Formula 1 – Drive to Survive’</a> on Netflix<o:p></o:p></div>
<div class="MsoNormal">
Dark on Netflix<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-805465690489140608.post-2475369554680879202019-07-09T06:20:00.001-07:002020-04-20T03:06:06.793-07:00<div class="WordSection1">
<div class="MsoNormal">
<span style="color: black; font-family: "arial" , sans-serif; font-size: 13.0pt;">The bill would exonerate workers under the age of 26 from Poland's 18 percent personal income tax for those whose gross earnings don't surpass 85,500 zlotys (20,000 euros, $22,500) per year.</span><o:p></o:p></div>
<div class="MsoNormal">
<a href="https://www.france24.com/en/20190705-poland-moves-exempt-young-workers-income-tax">https://www.france24.com/en/20190705-poland-moves-exempt-young-workers-income-tax</a><o:p></o:p></div>
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<br /></div>
</div>
Unknownnoreply@blogger.com0