Turkish FM Affirms Defense Pact With Pakistan, Saudi Arabia Is Same As NATO's Article 5

Beta: A Powerful But Faulty Tool For Managing Risk Authored by Michael Lebowitz via RealInvestmentAdvice.com, When investors want to reduce risk, one commonly used tool is beta. For instance, an investor may sell higher-beta stocks and replace them with lower-beta ones to cushion against an expected market decline. Such a strategy is intuitive and widely used; however, it can be greatly flawed. We recently received a question from a client about how we use beta to manage our portfolios. Given recent volatility and declining prices, the timing could not be better to...

Foggy, Foggy War By Michael Every of Rabobank With US stocks up, the Nasdaq with its longest winning streak since 2021, and screen oil down for a second day in a row, markets continue to price the starkly binary physical outcomes smack in front of us on the side that’s full of stardust. The IMF just warned of a potential world recession ahead if Hormuz stays shut. Its latest three global growth scenarios are ‘weaker’, ‘worse’ and ‘severe’ - “because markets”, and politics, the Fund chose the most benign as its base...

Hayek, Orwell, And 'The End Of Truth' Authored by Jonathan Miltimore via Civitas Institute, In 1942, after fighting in the Spanish Civil War (1936–1937), a disillusioned writer returned to London to write about his experience. It wasn’t just that the fascists in Spain had won and his side—a small, anti-Stalinist Marxist group—had lost. What frightened him was the ease with which truth itself had been erased and replaced by propaganda. “I saw great battles reported where there had been no fighting, and complete silence where hundreds of men had been killed. I...