Macro
Playing a Game of Economic Survivor
I don’t do writing assignments. I don’t like deadlines. I am not a writer; I am an investor who thinks through writing. So when Institutional Investor asked me to write on the future of investing, my instinct was to politely decline. But the topic did seem intriguing. So I decided to give it a try.
The China Syndrome
MOST PEOPLE are convinced by now that there is a fixed-asset bubble in China that is on the verge of bursting. ...
For Europe, Breaking Up Is a Hard Thing to Do
Everyone is looking with horror at Europe, waiting for the European Economic and Monetary Union to break up and for ...
We Are Not AAA
I have received many emails and a few calls from friends, asking one question: What are the consequences of the ...
The Chinese Black Swan
Party rulers in China are trapped in a position that chess players deeply fear — zugzwang — where any move ...
Set the Bar High
The Ups and Downs of Flying I am a very nervous flyer. Whenever there is a little bit of turbulence, ...
Japan: Land of the Rising Debt
Two decades of stimulative, low-interest-rate fiscal policy have made Japan the most indebted nation in the developed world
The Second Edition of the First Part of My Book (free)
Here is a link to the presentation/speech of my book. This presentation/speech qualifies as a second (free) edition of the first ...
Econ 101: Credit Card Fees
Banks opened a dirty, ugly Pandora’s box when they destroyed their balance sheets to the point that the Federal government HAD to bail ...
Stock Prices, Consumer Confidence, CEOs — Self-Fulfiling
I’ll not make a prediction if this latest rally in stocks is sustainable or not. I don’t know. But it ...
Putin – the New Capitalistic Pig?
“True, the state’s increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market ...
Expect Tensions with Russia
Painting by Naum Katsenelson (my father)
By Vitaliy Katsenelson
Russia's economy is deteriorating at a very fast pace. The Stabilization fund - a giant $450 billion savings account - has been depleted by a quarter since September as Russia tried to defend its currency. Despite that attempt, the ruble still declined.
A Far-East Fiasco?
I often start my mornings with egg, cheese and turkey sandwich at Panera Bread. This morning was no different. While ...
Russia’s Depressing Story
After 16 years of almost no contact with my Russian high school and college friends I stumbled on Odnoklassniki.ru, a ...
Russia? Think Again
By Vitaliy Katsenelson, CFA As you look at the high-flying Russian stock market, you may feel like you want some ...
