Finally. After a few disappointing and downright poor years of economic growth, we concluded an economically excellent year a few days ago. And, as it appears now, we will inaugurate an equally strong year. A good moment to celebrate, right?... »

This week a preliminary attempt to value gold with a different method. I have shown earlier how we can value the stock market: we can compare the replacement value of the underlying company assets with the price we pay for the same assets on the stock market. This ratio is also known as the “equity q ratio,” named after the Tobin q ratio which was first described by Nobel laureate James Tobin (Tobin would take both the equity and debt in his original formulation). This time, I try to do

Let us for a moment pretend that we have a crystal ball. I have made a list of ten predictions which I seriously consider for this new year. Some predictions are somewhat more daring than others, but every one of the scenarios have, according to my judgment, decent odds to actually become reality in 2018. I cannot give guarantees, of course, but I can only assure you that I put my money where my mouth is. In other words, I follow Nassim Taleb’s principle of “skin in the game.”