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Christopher Wood is bearish on Western stocks but still bullish on emerging Asia, especially India and China. He recommends an overweight Asia – Underweight West position for international investors in large part because he believes the inflationary signs in Asia are a sign of renewed strong economic growth there. On the other hand, in his [...]

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Christopher Wood, the well-noted market strategist at CLSA and writer of the classic Japan crash warning book “The Bubble Economy,” is now warning of a market correction in the West.  According to CNBC India, Wood believes that the markets’ extreme upward move is increasing the chances of a major correction.
Wood is still cautious. He says [...]

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Marshall Auerback here.
Equity investors, perhaps unlike credit investors, don’t get the fundamental insolvency of the financial sector, an artifact of mega-leverage.
This is a culture that responds to visual clues and marketing jingles. Substance is at best a second thought, and seriously, there is not time in these markets for second thoughts. It’s all about maximal [...]

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The world has experienced three periods of extreme financial dislocation in the past century, 1929, 1973, and 1990. Two of these have been deflationary. While most observers have their eyes firmly peeled on 1973 and its aftermath, 1929 and 1990 are the scenarios of greatest concern today. These deflationary periods should be instructive as [...]