• April 15, 2022

More on the Yield Curve and Helping Ukraine

It’s Easter weekend, so we are going to revisit a 2018 letter about the yield curve. The yield curve is much misunderstood and misused by many analysts. This letter will give you the tools to understand the correct importance and relevance of the yield curve. And then, a few comments about Ukraine.

• March 4, 2022

Change Squared

“How did you go bankrupt? Two ways. Gradually, then suddenly.”

- Ernest Hemingway, The Sun Also Rises

• February 25, 2022

The Three-Act Recovery, Plus Your Questions

This week’s news is seemingly all about Ukraine and Russia. It is a terrible situation. But as an economic matter, we still have serious economic challenges no matter how it develops.