David Hay, chief investment officer at Evergreen / Gavekal, looks at promises of “sustainable acceleration” continually made relative to the global economy and applies an old saying, with a twist. “Fool me once, shame on you. Fool me twice, shame on me,” he writes in his most recent investment letter, then considers the multiple times he’s heard assurances the global economy was about to take off and quips: “What about, ‘Fool me four times?’” Gavekal Chief: Establishment analysts wearing “economic beer goggles” Hay takes direct aim at the US Federal Reserve and their central bank cronies and related cheerleaders around…
Gavekal: Analysts Wearing "Economic Beer Goggles"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.