September 16, 2014

DB on Valuations, Real Rates, and the Bond Bubble

I was going to write that this was a “must read”, but by definition the whole point of The Idea Farm is to send only ‘must reads”, so maybe this is extra musty.  Read all 100+ pages, it is worth […]
September 14, 2014

US & Europe

We featured some publications from Pantheon Macro a year or so ago, here are four more. First, a US and Euro Economic Monitor, followed by a Chartbook for each. Chart then downloads: —- —- Download PDFs US Chartbook, Monitor Euro Chartbook, Montior  Website
June 22, 2014

Economic World Cup

In the spirit of the World Cup, one more piece – this time from Alexander Ineichen.  Some fun charts and tables in the piece! Chart then download: —- —- Download PDF Economic World Cup Websites
June 16, 2014

Guide to the Quant Cup

There are a lot of these pieces from the various banks on the World Cup floating around – I particularly liked this one as it takes a quant approach to picking the winner. Sadly, the US isn’t expected to make […]
May 27, 2014

Toppy Signs

I recently spoke at the Wine Country Conference in Sonoma (highly recommended, you should go next year!).  In addition to the great conversations and wine, all the proceeds went to charity. The good folks at Sitka put together a summary […]
May 1, 2014

Value Line MAP

It has been a little quiet lately but the good news is I have some great reads on the way, including one of my favorite newish newsletters below.  The Macro Trader looks at another valuation metric from Value Line and […]
December 29, 2013

A Big Inefficiency

Fun issue from Grant’s on the disconnect between Korean common and preferred shares. Chart then download: —- —- PDF Download Grant’s XMAS Website
November 21, 2013

The Only Chart That Matters

With charts, if the conclusion isn’t immediately obvious I start to worry.  I love Tom McClellan’s charts.  This is a good one. —- “There are a lot of different indicators and studies that technical analysts use, and all of those […]
October 27, 2013

How it All Works

I’m sure many of you have already seen these, but below is the video and accompanying 200+ page white paper from Bridgewater. Quick chart then download: —- —- Download PDF How the Economic Machine Works (PDF) Video Website
September 29, 2013

Sunday Reading

A fun read from Grant’s to print out during Sunday football…I’ll be in NYC, Chicago, and Dallas next two weeks if anyone wants to meetup! Quick pic before the download: —- —- Link to the PDF Grant’s August 2013 Website […]
September 26, 2013

Market Cap to GDP for Global

One of Buffett’s favorite indicators is stock market cap to GDP.  Below, Minerd looks at the indicator for global countries relative to their history.  Not surprisingly, lots of cheap countries out there… —- —- Link to the Article MKT CAP […]
September 21, 2013

Rising Interest Rates Must End Soon

Many of you saw my blog post on bond drawdowns back in July.  If you didn’t, the summary is that bonds historically haven’t gone down much more than they have already.  In the attached note, Scott Minerd looks at previous cycles […]
August 12, 2013

The Challenges of China’s Rise

Apologies for not sending much summertime reading, but I was on the trail doing three talks, a podcast, and a webinar.  The good news is I spent a lot of time reading on the airplanes, and found some interesting pieces […]
July 27, 2013

The Foie Gras Bubble

James Montier is one of my must reads, and he had a phrase in this piece that stood out – “the foie gras bubble”.  He was referring to investors being “force fed higher risk assets at low prices.”  Unfortunately I […]
May 2, 2013


Here is the first research report from Cornerstone Macro.  I learned a few new tidbits from this report, including the below chart: —- —- PDF Download Economic Research Website