Have you ever been to a sushi restaurant and said “omakase”? Even if just for the sake of an experience, I would encourage you to do this to see how your perception of “control” changes. At one point, you're goingI’m a Portfolio manager (flexible equity funds and private clients), fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine top-down macro, bottom-up stock selectio ...

Core Viewpoint - Pearl Gray operates as a proprietary investment fund and independent market research firm, focusing primarily on Fixed-Income and Capital Flows while also providing analysis on equity REITs, Investment Fund Appraisal, and Bank Risk Analysis [1]. Group 1 - The firm emphasizes that its published content is independent analysis and does not constitute financial advice [1]. - The analysis provided is intended to foster discussion among subscribers rather than serve as direct investment advice [3]. - The firm encourages readers to consult a registered financial advisor before making investment decisions [3]. Group 2 - The firm has no stock, option, or similar derivative positions in any of the companies mentioned, nor plans to initiate such positions in the near future [2]. - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2]. - The firm clarifies that past performance is not indicative of future results and does not provide recommendations for specific investments [4].

Yet another, yet another quarter to put into a frame. Nothing to be said. Every quarter I rip my hair out, and I say, "Wow!" How are they able to make these kinds of numbers? I have no idea how they do it, but itI’m a Portfolio manager (flexible equity funds and private clients), fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine top-down macro, bottom-up stock selection ...

The dollar is weakening. In simple terms, that means one U.S. dollar buys less, especially when compared to another currency, such as the euro. One year ago, on Feb. 2, 2025, the dollar and the euro were very close to parity. One dollar would buy 0.98 euros. Today, a dollar buys 0.85 euros. It buys 0.73 British pounds and 0.78 Swiss francs. Conversely, one USD buys 155 Japanese yen. The dollar has generally been declining since January 2025, when it closed above 109, and has recently fallen to a four-yea ...

Core Insights - The article reflects on the emotional impact of sudden changes in market conditions, likening it to the silence after an explosion in war movies, indicating a moment of reflection for investors [1]. Group 1: Company Insights - The portfolio manager has over 10 years of experience in managing multi-asset strategies and equity portfolios at a European asset manager, focusing on fundamental equity research and macroeconomic strategies [1]. - The manager employs a combination of top-down macro analysis and bottom-up stock selection to identify mispriced opportunities in the market [1]. Group 2: Industry Insights - The article emphasizes the importance of understanding earnings, technological disruption, policy shifts, and capital flows in the investment landscape [1]. - It highlights the role of platforms like Seeking Alpha in providing insights and analyses from both professional and individual investors, contributing to a diverse range of investment perspectives [2].

Kevin Warsh, 55, comes from the financial services industry (Wall Street) and public service. When he was appointed to the Federal Reserve Board at age 34 in 2006, he became the youngest member of the Fed Board. Prior to this appointment, he served as anI’m a Portfolio manager (flexible equity funds and private clients), fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine ...

Group 1 - Pearl Gray is a proprietary investment fund and independent market research firm focusing on Fixed-Income and Capital Flows [1] - The firm also provides analysis on equity REITs, Investment Fund Appraisal, and Bank Risk Analysis for its Seeking Alpha readers [1] - The content published by Pearl Gray is independent analysis and does not constitute financial advice [1] Group 2 - The firm encourages readers to consult a registered financial advisor before making investment decisions [3] - There is no indication of any stock, option, or similar derivative positions held by the analyst in the companies mentioned [2] - The article expresses the author's opinions and is not influenced by compensation from any company [2]

Core Insights - The article provides an updated outlook on the iShares 7-10 Year Treasury Bond ETF (NASDAQ: IEF), highlighting the current unusual market conditions for U.S. Treasuries, where market psychology and narrative play significant roles [1]. Group 1: Market Analysis - The focus is on the fixed-income market, particularly U.S. Treasuries, indicating a shift in market sentiment that could impact investment strategies [1]. - The article suggests that the current environment may present both opportunities and challenges for investors in Treasury bonds [1]. Group 2: Company and Fund Overview - Pearl Gray is identified as a proprietary investment fund and independent market research firm, specializing in fixed-income and capital flows [1]. - The firm also extends its analysis to equity REITs, investment fund appraisal, and bank risk analysis, indicating a broad approach to market research [1].

Group 1 - Pearl Gray is a proprietary investment fund and independent market research firm focusing on Fixed-Income and Capital Flows [1] - The firm also provides analysis on equity REITs, Investment Fund Appraisal, and Bank Risk Analysis for its Seeking Alpha readers [1] Group 2 - The content published by Pearl Gray is independent analysis and does not constitute financial advice [1][3] - Readers are encouraged to consult a registered financial advisor before making investment decisions [3]

Core Insights - The interaction between Washington and Copenhagen is described as a stress test of the 70-year-old Western geopolitical framework, rather than mere political discussions [1]. Group 1 - The article emphasizes the importance of viewing geopolitical events from an investment perspective, suggesting that investors should consider the implications of these developments on market dynamics [1]. - It highlights the role of macroeconomic factors, technological disruptions, and policy shifts in identifying investment opportunities [1].