11/24/2020 - Alejandro Tagliavini – Tesla, Elon Musk y Bitcoin: magistral lección de economía
“Repaso de las últimas jornadas en Wall Street: Pfizer mostró mejores resultados que Moderna, subieron las acciones castigadas por los confinamientos y bajaron las de las plataformas digitales. En Argentina, el blue podría desacelerarse y las opciones locales “son algo pobres”.
11/23/2020 - Financial Times Article on Municipal and State Debt
“If financial markets were to experience new turmoil in the coming months, the Fed might struggle to limit the damage to investors in corporate debt, municipal and state debt, and asset-backed securities, whose markets were propped up by the lapsing facilities. And the fallout could be broader, given the nearly $40tn US equity market has been buoyed by the Fed’s intervention as well ..
11/23/2020 - Daniel Lacalle: Allow the Economy and Consumers to Implement Sustainability and ESG
“The idea of a more sustainable, cleaner, and social economic system is not new, and it does not need governments to impose it. It is happening as we speak thanks to competition and technology. Governments should not be allowed to reduce and limit citizens’ freedom, savings, and real wages even for a well-intentioned promise. The best way to ensure that governments or large corporations are not going to use this excuse to eliminate freedom and individual rights is by promoting free markets and more competition. Forward-thinking investments and welfare-enhancing ideas do not need to be nudged or imposed; consumers are already making companies all over the world implement increasingly higher sustainability and environmentally friendly policies. This market-oriented approach is more successful than letting the risk of interventionism and government-meddling take hold, because once it happens it is almost impossible to undo.
If we want a more sustainable world, we need to defend sound money policies and less government intervention. Free markets, not governments, will make this world better for all.
The same massive government intervention that took us here is not going to take us out of here.”
11/16/2020 - Alejandro Tagliavini – El blue y la economía podrían desacelerarse, la vacuna también “Si el gobierno profundiza este camino “más ortodoxo” el precio del dólar podría moderar su escalada. La mejor alternativa es invertir en dólares MEP y el CCL barato, y comprar CEDEARs.”
11/15/2020 - Dr. Albert Friedberg on Risk Assets and Commodities
11/09/2020 - Alejandro Tagliavini – Esperando a Biden, Argentina sentada y el Bitcoin intratable “El dólar blue “se agachó” y anotó su novena baja consecutiva hasta quedar en $157. Leves subas en Wall Street ante primeras señales del presidente electo. Las acciones de mega capitalización parecen haberse convertido en un refugio.”
11/04/2020 - The Roundtable Insight: Gary Shilling and Yra Harris on Bonds, Globalization and Inflation/Deflation
11/03/2020 - Alejandro Tagliavini – Argentina y Wall Street esperando los resultados de las elecciones en Estados Unidos “La economía de EE.UU. creció 7,4 % (33,1% anualizado, récord) en el tercer trimestre, superando las expectativas. Pero el PBI todavía está 3,5% debajo del pico anterior a las cuarentenas. Si este martes gana Trump, Wall Street podría ponerse eufórica. Todas las encuestas dan por triunfador a Biden, pero algunos tienen dudas.”
10/28/2020 - Judd Hirschberg – Current Analysis of the Financial Markets
10/27/2020 - Alejandro Tagliavini – Ni el gol del 10 podría evitar la disparada del oro y el bitcoin “Argentina no tiene solución al menos en el corto y mediano plazo. Tenemos que ver adónde irnos. Europa sigue deprimida, y Wall Street registró una caída del Dow Jones del -0,95%. Pero los datos del PBI en Estados Unidos registrarán un fuerte repunte en el tercer trimestre del año. En este escenario, el oro y el bitcoin son la mejor opción.”
10/26/2020 - Reposted from May 20 – The Roundtable Insight: Louis-Vincent Gave and Yra Harris on Commodities and the Global Economy Reposted for Perspective and Relevance:
10/22/2020 - Live Podcast Recording on Global Economy with a focus on Europe and Argentina – in Spanish
LINK HERE to the Podcast on Thursday Oct 8 at 1230pm ET
10/21/2020 - Alejandro Tagliavini – Apostando entre la soja y el (ciber) oro “El potencial alcista del oro a largo plazo es grande y resulta una protección cuando el gobierno se vuelve muy “agresivo” en el sentido presupuestario. Pero en forma física es complicado adquirirlo y no vale la pena, entre otras cosas, por el costo de almacenamiento. ¿Cuáles son las alternativas?”
10/20/2020 - Daniel Lacalle: Central Bank Digital Currency, A Growth Or Financial Repression Tool? “The reason why citizens demanded cryptocurrencies is precisely because they were not controlled by central banks that constantly aim to increase the money supply and generate depreciation of money, inflation ..
Central banks should defend the purchasing power of savings and salaries, not aim to erode them. If they decide to use new tools to dilute wealth, confidence in the domestic currency will evaporate. The fact that it has not happened yet does not mean that it is not going to occur sooner rather than later. When central banks finally realize that they have gone too far with their policy it will be too late.”
10/18/2020 - Dr. Albert Friedberg – Long-Term Risk is Stagflation “The mystery and risks surrounding the early days of the pandemic, the fear of the “Unknown” and the fear of a depression, are now a thing of the past. Super- Third Quarter Report 2020 • Friedberg Mercantile Group | 3 easy money and a series of large fiscal injections, with the promise of more to come, have persuaded even the milquetoasts that risks have disappeared. As we see it, it’s not unreasonable to believe that those precise risks have been set aside for now. But, in our opinion, we seem to have exchanged the immediate risks of generalized defaults and depression for a longer and more insidious risk: stagflation.”
Download the Latest Quarterly Report
10/16/2020 - Alejandro Tagliavini – Llegó la hora de comprar “valor” (y oro) “Durante el coloquio de IDEA casi el 70% de los empresarios argentinos afirmó que el próximo semestre será peor que el anterior. Mientras el dólar blue y el CCL no encuentran techo y la inflación es récord mundial (descartando Venezuela que no es un país, sino un territorio secuestrado por una banda).”
10/14/2020 - The Roundtable Insight – Adam Rozencwajg on Investing in Commodities and Natural Resources
10/13/2020 - The Roundtable Insight – Charles Hugh Smith on Inflation
10/07/2020 - The Roundtable Insight – Dr. Marc Faber & Yra Harris on What’s Happening in the Economy and Financial Markets
10/05/2020 - Investing Outlook Presentation by Felix Zulauf
LINK HERE to Register and Watch
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