Author

Niels Jensen 64 posts 0 comments

Niels is a founding Partner of Absolute Return Partners LLP and its Chief Executive Partner. He is a graduate of University of Copenhagen with a Masters Degree in economics. He has 25 years of investment banking, private banking and asset management experience.

Markets

Snail Trail Vortex

Niels Jensen
The Absolute Return Letter, November 2014 “The single most robust and striking fact about cross-national growth is regression to the mean.” -Lawrence Summers and Lant Pritchett Low growth is printed on the wall When financial markets…
Economy

Six Months of Nothing

Niels Jensen
Even if there are good reasons to believe that the prolonged rally can continue for a little longer, there are equally good reasons to believe that the current equity bull market may end in tears. I am not predicting a repeat of 2008-09. A…
Political Economy

A Century of Policy Mistakes

Niels Jensen
Unless serious action is taken, Europe in particular (but the U.S. is not far behind) is at risk of falling into a very deep hole from which it may be extraordinarily difficult to dig itself out of. Once in, it will prove ever so hard to…
Markets

Challenging the Consensus

Niels Jensen
Now, when I look at financial markets going into 2014, I cannot recall ever having come across a more one-sided view than the one which prevails. The consensus view on bonds is overwhelmingly bearish while pretty much everyone is bullish on…
Markets

Are equity markets in a massive bubble?

Niels Jensen
Niels Jensen: How to spot a bubble? Being closer to the exit point does not, however, imply bubble behaviour. Yes, there are signs of excesses creeping back in to the markets. however, I do not see much in terms of the classic signs of…
Markets

QE: Euthanasia of the economy?

Niels Jensen
Over the past couple of years it has gradually become the consensus view that QE has failed because it hasn’t created the economic growth that everyone was hoping for. I find that view overly simplistic and naïve in equal measures. QE - or…
Economy

A case of broken BRICS?

Niels Jensen
The first seven trading days of September have offered all of these markets some much needed breathing space with EM currencies, bond and equity markets all doing considerably better. It is thus tempting to conclude that this was just…
Markets

Much Ado About Nothing

Niels Jensen
Interest rates will stay low for a long time - long as in years, not months. In the UK there is a risk that a weakening currency may lead to some modest increase in inflation but, generally speaking, inflation is not a problem, and all…
Markets

The Wisdom of Crowds

Niels Jensen
MPT is based on a number of assumptions, some of which are more restrictive than others. The question is whether the sum of those assumptions is so far off the mark that it renders the entire theory absolutely useless. Effectively the…

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