Brief comment on the Brexit

Brief comment on the Brexit

With the passing of a few days, a few comments on the Brexit: 1. The political impact of the EU exit of the United Kingdom far outweighs the economic impact 2. Quick comments on an event that has few historical precedents are essentially speculation and should not influence a long-term ...

Deflation: short series (4)

Deflation: short series (4)

In the previous articles of this series I dealt with what deflation is, where it comes from , what “good” and “bad” deflation is, and when and where deflation has occurred. We took a closer look at deflation in the United States in the 1930s, in which excessive debt led to debt deflation and, ...

IMF and devaluations, two preliminary attempts at a solution

IMF and devaluations, two preliminary attempts at a solution

A succession of crises The collapse of Lehman Brothers, the Greek debt crisis, the end of US quantitative easing, the slump in commodity prices, the slowdown of the Chinese economy and depreciation of its currency, the war in Ukraine, sanctions against Russia... a series of events that contributed ...

China: bad debts escalating!

China: bad debts escalating!

China's economic slowdown The Chinese economy has been slowing in recent years, the pace of growth dropping from more than 10% in 2010 to 6.9% in 2015. But fears of a much sharper slowdown from the world's second-biggest economy started to surface last year. The Chinese authorities' response ...

Equities: correction or bear market?

Equities: correction or bear market?

Since their peak last year, European and Japanese stocks have given up over 20%, and US stocks around 15%. That raises the question of whether the current downturn is not something more than just a correction and whether the markets could be on the brink of a much more slippery slope. In the ...

Deflation: short series (3)

Deflation: short series (3)

In the first instalment of this series, we considered how to define deflation and what might cause it. In the second instalment, we took a look back at history, at the supposedly “good phases of deflation” and, above all, at deflation during the Great Depression of the 1930s. In particular, I went ...

BL-Global Flexible - 2016 Positioning

BL-Global Flexible - 2016 Positioning

Asset Allocation Including various transactions in process, the fund's asset allocation as flollow: equities: 70% gold mining: 7.5% bonds: 15% cash: 7.5% This allocation is based on the following premisses: Scenario 1 : moderated but positive ...

Deflation: short series (2)

Deflation: short series (2)

In the first blog post of this series, we familiarised ourselves with deflation as the result of gains in efficiency and a supply-demand shock. We saw that inflation has very seldom occurred in western industrial economies in the recent past, thanks to shifts in consumer spending behaviour and central ...

Corporate debt: Glencore, VW, Petrobras…

Corporate debt: Glencore, VW, Petrobras…

Corporate defaults piling up The corporate default rate is at its highest level since 2009. In its latest study on 30 November (1) , Standard & Poor’s reported a sharp increase in the number of companies defaulting in 2015: 101 issuers reneged on their obligations. The last ...

About. The BLI blog features regular analyses and our points of view on the latest economic trends and developments on the financial markets.

OUR METHODOLOGY

BLI's investment management methodology consists of three steps: strategic asset allocation, tactical asset allocation and securities selection.

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