Archives for February, 2016
Last week I quoted Jonathan Tepper of Valiant Perceptions. He expects to see a price decline of 30% to 50% in Australian housing. Well didn’t he get hammered. The vested interests were out for blood, and that continued over the weekend. One of Jonathan’s observations was questionable practices by mortgage…
A visit to Sydney by Jonathan Tepper, of Variant Perceptions, has caused much wailing and gnashing of teeth amongst vested interests in the real estate market. He considers that Australian housing is in a massive bubble and he expects to see a price decline of 30% to 50%. Along with…
Contingent Convertible Bonds (“CoCos”) have been around since 2009. They were primarily designed by banks and government regulators to meet the regulatory capital eligibility requirements of Basel III (a voluntary regulatory framework principally concerning bank capital adequacy). Most CoCos are bought by retail investors and small private banks. It is widely…
The US economy is perceived to be the strongest in the world. One of the reasons is that officially announced employment figures are good and getting better. However, a look behind the headline payroll statistics tells a different story. There is a significant disconnect between the robust reported payroll numbers…
Investor behaviour often departs from a logical, reasoned view. This is because people are influenced by their emotions, by errors and by their own personality. Understanding and correcting these behavioural biases is critical to improving investment performance. Behavioural biases are commonly considered to be of two types: cognitive and emotional.…