Another EVA, another chance to read the thoughts of one of the planet’s smartest men, Anatole Kaletsky! This week’s issue is a follow-up to the January 26th edition, also by Anatole, titled “The Big Questions for 2018.” Among those urgent queries is one I personally believe might be the King Kong of them all: is the global bond market on the verge of a meltdown?
The year 2018 is still in its infancy, but some of the hot-button questions of late-2017 have been (or are currently being) answered: Will the Bitcoin bubble burst? Will political gridlock in Washington, D.C. lead to a federal government shutdown? Will anything slow down this raging bull market?
Into the Wild Blue Yonder. It’s not often that I get a chance to send out one of our newsletters containing fodder for both the bulls and bears. However, in this week’s Guest EVA edition, I am able to do exactly that and, for bonus points, at least for me, to highlight the latest musings of one of my heroes, Jeremy Grantham.
The Evergreen Virtual Advisor is nearly 10,000 subscribers strong, up from just 500 readers, 7 years ago. Roughly 10% of subscribers are clients, leaving us with the sometimes-difficult task of writing to two distinct audiences. Clients are keenly interested in Evergreen-specific happenings, whereas outside readers are more interested in our macro market outlook. This week’s newsletter attempts to carefully thread the needle between both interests.
On December 14th, 2017 the Federal Communications Commission (FCC) ruled in favor of overturning Obama-era net neutrality regulations by a vote of 3-2. While not necessarily underreported, the ruling was, in many ways, overshadowed in the financial media by two parallel events: tax reform and the Bitcoin bubble. Case in point, we have used these pages to share our view on both of these topics over the past several weeks, while completely ignoring the FCC’s landmark decision.