Articles&Reports

Equities: Comparing Russell 2000 Versus S&P 500®

10 months ago adcity Comments Off on Equities: Comparing Russell 2000 Versus S&P 500®
The fact of a high correlation between small caps and large caps is probably a little frustrating to long-only investment managers as it limits diversification benefits.  By contrast, for long/short managers, the strong correlation opens up possibilities to profit from the strong trends in the relative performance of the two indexes – and significant risks, Read More

Abenomics: A Work in Progress After Five Years

10 months ago adcity Comments Off on Abenomics: A Work in Progress After Five Years
While Japan’s economy has improved since Abe assumed office, not everything has come up roses.  For starters, Japan’s economy has slowed since early 2015 and the BoJ’s experiment with negative short-term interest rates does not appear to have been a success.  If anything, the negative rates introduced in February 2016 serve as a tax on Read More

Oil Markets in Supply-Demand Tug of War

10 months ago adcity Comments Off on Oil Markets in Supply-Demand Tug of War
The key supply-side technological development is the U.S. shale oil revolution, which commenced before 2010 and has driven U.S. oil production from below 6 million barrels per day (mbd) to over nine million mbd currently, and headed for over 10 mbd in 2018 and beyond.  What is often not appreciated is that shale oil technology Read More

Evolving Economics of Bitcoin, Gold, Currencies

10 months ago adcity Comments Off on Evolving Economics of Bitcoin, Gold, Currencies
Supply Scarcity and Stores of Value As stores of value, many investors perceive gold and, more recently, bitcoin as second to none.  Since 1971, gold has appreciated from $35 per ounce to around $1,300 at the time of this writing, a gain of over 3,500%.  Bitcoins have done even better.  On July 19, 2010, a Read More