Archive

Electricity

Something we all use and probably don’t think too much about, except when the bill comes or someone talks about renewable energy and climate change. It is probable that electricity consumption will increase, at least in total if not on a per capita basis. Investors should consider how we are going to meet demand while […]

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Freedom of the Seas and the Strait of Malacca

According to Wikipedia, “freedom of the seas” is a principle in international law and law of the sea.  It stresses freedom to navigate the oceans. Like any law, enforcement is sometimes required.  Historically, during a period of relative peace (1815-1914), often referred to as “Pax Britannica”, the Royal Navy was, in effect, the guarantor of […]

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Trends in the Oil Market

Our Chief Investment Officer, Denise Farkas, and I were at the Chartered Financial Analyst (CFA) Institute’s Annual Conference earlier this week.  We thought that it would be a good idea to share some insight with our readers on trends and changes in the global oil market. First, the global oil market is experiencing a structural […]

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Markets Work

Over the last several months there have been a considerable number of demonstrations aimed at increasing wages for low income employees, particularly in the fast food industry.  The prevailing demand is an improvement to $15 per hour from the current federal minimum wage of $7.25 per hour. In the meantime, various other jurisdictions, including states […]

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How Green is Green?

In the case of electric vehicles (EVs), it depends. Governments have become increasingly aggressive in encouraging the purchase of EVs, with subsidies, both at the manufacturing and consumer level, and through fuel economy mandates.  But is this really a good idea and will it reduce emissions? Bernstein Research, which studied the car market in Hong […]

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Tax Inversions and Investors

The financial transaction known as an “inversion” is designed to take advantage of lower corporate tax rates outside the United States.  While the practice has been subject to an increasing level of political criticism, there does not appear to be any credible evidence that it is a violation of current tax law. Despite the political rhetoric, […]

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