Here are a couple of the questions we are currently musing over at AUTHENTIC. Will President Trump step in to support Stormy markets as the central banks step back? Will the regulatory environment become stringent enough to keep internet-related share prices depressed? 1. Stormy markets spank Trump Wither to the markets? The future lies less […]

It was a good year for AUTHENTIC’s Clients. We enter 2018 forging ahead with our current strategies.For greater constructiveness and a better balance, we are informed by the following learnings from last year: 1. Longer equities One feels like a real chump hedging rampantly rallying stock markets in a low volatility environment. Without stock market […]

When I was a boy spending vacations with my grandparents in the Maritimes, some of our pastimes included playing cribbage, kick-the-can with the neighbourhood gang, adjusting antennae in an attempt to tune in one of two fuzzy TV channels, dinner table storytelling, and stringing Newfie jokes together to try turning groans into laughs. Newfie jokes […]

All too often we underestimate the connections between people and organizations around the world. 30 years ago, a fellow grad student named John (now Senior Research Advisor at the Federal Reserve Bank of San Francisco) and I, were invited to join our Supervisor, Prof. Mervyn King (subsequently Governor of the Bank of England) for dinner […]

Broad acceptance of the rule of law in America is crumbling before our very eyes. President Trump’s repetitious vow to uphold the “Rule of Law” made me realize it. Too many of history’s unsavoury leaders have emphatically espoused it as a ruse while abusing it the most. This revelation is deeply troubling. We so often […]

Where were you on the pleasant late summer’s eve of Sep. 4, 2013? My daughters and I were at the US Open in Flushing Meadows, NY watching Victoria Azarenka and Rafa Nadal play their way into the finals (to lose to S. Williams, and become Champion, respectively). During breaks in play to accommodate TV commercials, […]

The law of large numbers is a theorem of probability which asserts that if you perform an activity a large number of times, the average long term result should be close to the expected value. Flip a fair coin 3 times, it may well come up heads 3 times in a row. Flip it thousands […]

All is not well amongst the citizenry. A groundswell of public opinion is becoming palpable against the darker side of global capitalism. The unfettered flows of capital and people across borders are causing unease amongst a growing number of domestic citizens, with a feeling of mistreatment at the hands of the elite few and foreigners. […]

The past decade – It is worth a quick look at just how stock markets have been performing. Looking at the decade to the end of March 2016 is likely as good as any, since it captures the peaks in 2007 and 2015, and the trough in 2009. This chart shows the return, risk, and […]

Welcome, Prime Minister Trudeau the 2nd. You inherit a True North dependently, not strong and free. Oh Canada is the name, panning our currency is the game. Alas, we are not alone. Beggar-thy-neighbour banking is de rigueur Realpolitik these days. The European Central Bank is swirling water over the euro, hoping to retrieve gold at […]