Monthly Archives: April 2011

Shelter Island March 2011 Letter

Shelter Island March 2011 Letter Deutsche Hubris The Zeitgeist is Germanophilist.  The global macro investment community seems to have embraced the austere combination of the Mittlestand companies’ small but global business model, wage moderation, low leverage, trade surpluses, and protestant … Continue reading

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Complacent Europe must realize Spain will be next

Letter to the Editor of the Financial Times. Sir: There is nothing new in Wolfgang Munchau’s description of the problem in the Spanish financial and property sectors  which have been flagged for years, except for a surprising lack of familiarity … Continue reading

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