Our new paper “U.S. Tax Inversions and Shareholder Wealth” has been accepted for publication in the International Review of Financial Analysis:The paper abstract:”We examine a sample of corporate inversions from 1993-2015 by firms active in the U.S. ma…
Italy has been the testing ground for the European regulatory framework for resolution of insolvent banks for several years, running. In all past sagas, the framework has been shown to fall short of protecting the taxpayers from the risk contagion loop…
For those of you following my coverage of the Twin Secular Stagnations thesis, here is more recent evidence on sluggish productivity, via @soberlook and @oxfordeconomics;In simple terms, post-2008 crises, we have not recovered in terms of productivity …
Happy New Old Year 2019… oh, wait…
I am not a psychologist or psychiatrist. I am not even a sociologist. So my comments below are based simply on my observations as a human being. In literature – from Arendt to Kafka, from Levi to Bulgakov, from Platonov to Solzhenitsyn, from Shalamov to…
A quick – and dirty – run through the argument that Bitcoin serves as a hedge or a safe haven for stocks. This argument has been popular in cryptocurrencies analytical circles of recent, and is extensively covered in the research literature, when it co…
Mr. Draghi is intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks:The ECB balancesheet has just hit a new high of 42% of Eurozone GDP, up from 39.7%…
Highlighting the evidence presented in the earlier-linked article, here is the chart based on data from the Deutsche Bank Research team, showing historical evidence on the total percentage of all key asset classes with negative annual returns:CHARTSour…
As noted in the post above, I am covering the recent volatility and uncertainty in the financial markets for the Sunday Business Post : https://www.businesspost.ie/business/goldilocks-humpty-dumpty-markets-2018-433053.Below is the un-edited v…
Gradual deterioration in the quality of corporate debt traded in the markets has been quite spectacular over 2018:The above chart shows that at the end of 3Q 2018, the market share of BBB and lower-rated corporate credit is now in excess of 50%, …
