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Coolabah Global Floating Rate High Yield Complex ETF (CBOE: YLDX)
Exciting new episode of Coolabah’s Complexity Premia Podcast out now!
On Thursday I debated and demolished my old foe Dr Steve Keen (of doomsday fame) on the contentious subject of Aussie housing. You might recall that Steve was the guy who garnered enormous media coverage for predicting a sensational 40 per cent drop in house prices during the 2008 global financial crisis. Aussie house prices are now 131 per …
In predictably cutting its cash rate to a new record low of 0.75 per cent in October, the RBA moved itself one meeting away from initiating quantitative easing (QE), or outright purchases of bonds—as we controversially forecast in early May—to satisfy its full-employment target. Click here to read the full column or AFR subs can click here. Excerpt …
While studying at Cambridge University in 2003 I got a letter from former US secretary of state Henry Kissinger, inviting me to meet him in New York. I naturally embraced the opportunity. I recall walking into his stuffy office overlooking Park Avenue, adorned with literally hundreds of photos of Kissinger standing alongside heads of state and …
Kissinger: Why Traders Are Smarter Than Investors Read More »
Today I argue that in response to the 2008 crisis central banks and treasuries have thrown the baby out with the bathwater. Unable to tolerate the pain associated with capitalism’s most important attribute, “creative destruction” – or the cathartic process by which markets punish bad businesses and reward good ones – government agencies decided that …
This weekend I write that the ECB’s decision to start buying bonds again to reduce the long-term cost of capital (aka QE)—coupled with the Fed cutting in a few days—will only amplify pressure on the RBA to follow-suit (click on that link or AFR subs can click here). I also argue that it is high time APRA …
Today I explain why this housing boom is very different to its predecessors, and should not constrain the RBA from cutting rates further to hit its inflation and employment objectives (click on that link to read or AFR subs can click here). Excerpt enclosed: House prices are already higher than they have ever been in outright terms – and …
Today I explain why this housing boom is very different to its predecessors, and should not constrain the RBA from cutting rates further to hit its inflation and employment objectives (click on that link to read or AFR subs can click here). Excerpt enclosed: House prices are already higher than they have ever been in outright terms – and …
I’ve written a lot about the coming of Aussie QE since we first forecast it in May this year (the notion was dismissed by many at the time), and there is mounting evidence that the RBA is slowly starting to burnish its narrative on this front, as we have suggested they should do. The RBA’s August board …
Today I argue that since we blindsided participants by first putting the likelihood of the Reserve Bank of Australia launching quantitative easing (QE) back in May, there has been no end of gas-bagging initially dismissing the possibility, then reluctantly acknowledging it and now thinking about how to trade it. In its August board minutes, the RBA …
This is an article portfolio manager Christopher Joye published on Livewire recently. The back-story… I try to put my money where my mouth is. A couple of months prior to the Federal Election, we shifted more than $100m into franked ASX hybrids for several reasons, including: The risk of cash refunds on franking credits being …
