Monthly Archives: February 2019

Opacity International

The recent rally in euro area bank stocks, especially the rally in the periphery, defies reason. It does fit loosely Newton’s First Law of Motion which states that: “In an inertial frame of reference, an object either remains at rest … Continue reading

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Marlboro Friday Redux

On April 2 1993, Philip Morris announced it would need to cut prices by 20% to remain competitive in the US market. Insta-pundits immediately concluded that branded products were over, consumers only cared about price, and the painstakingly built brands … Continue reading

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