England fans are strange

The bezzle

The Virtuous Investor: Rule 10

This is not how yield curve inversions work

We only have a limited amount of morality

The J-curve of parenting

Who drives stock markets?

The Virtuous Investor: Rule 9

The sad state of public pension plans in the US

The last straw

I like progressive extremism

The Renminbi is getting more important, but…

The Virtuous Investor: Rule 8

The impotence of the counterfactual

People aren’t happy about climate action

Looks matter – at least for CFOs

Niche consumption

The Virtuous Investor: Rule 7

Is this the reason why US profit margins remain so high?

The geopolitics of renewable energy


Thoughts on financial markets by a grumpy, middle-aged German. What more do you want?