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Some Remarks on the Extremely Overvalued US Stock Market
I have written on multiple occasions about the US stock market overvaluation. Stock prices are high, too high, according to my analysis. The fact that the US stock market is overvalued is not a thing …
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Trump’s Tax Reform Dissected
Two weeks ago, the Trump administration presented a detailed version of one of Trump's most important election promises: a tax reform. Not only does the Trump administration propose to lower corporate …
This Is How the Fed Will Reduce Its Balance Sheet
The Federal Reserve ended its QE3 large-scale asset purchase program already in 2014, which consisted of monthly purchases of billions of US Treasuries and mortgage-backed securities (MBS). But the …
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The Accounting Cycle and Financial Bubbles: On the Current Indifference on Accounting Methods
In 2007, value investor David Einhorn wrote a fascinating book titled “Fooling Some of the People All of the Time: A Long, Short Story”, which is about how companies over the course of the business …
Avoid (Physical) Gold ETFs! The Hidden Secret of ETFs
Exchange traded funds (ETFs) are hot. Everybody is buying. The mantra of passive investing has created a billion-dollar industry for these “trackers.” And gold is not staying behind. One of the …
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