THE FIRST DEGREE VIEW



Fish-Coin

Stephen Fisher - Monday, July 24, 2017

The 3-point field goal and UBER's IPO conundrum

Stephen Fisher - Friday, July 14, 2017

Who loves ya Donald?

Stephen Fisher - Thursday, May 18, 2017

Uh-oh: Emmanuel 'anti-establishment' Macron joins the establishment

Stephen Fisher - Tuesday, April 25, 2017

The free traders dirty little secret PLUS what happens when the Fed starts selling?

Stephen Fisher - Thursday, April 06, 2017
Free traders' dirty little secret

 Full Post

The ingeneous man Don Trump of la Mancha

Stephen Fisher - Monday, December 12, 2016

A property developer's approach to policy

Stephen Fisher - Sunday, November 13, 2016

There is an old joke about the guy who dies and has a choice between heaven and hell. He first visits heaven and sees a bunch of bored people being good. Hell, on the other hand, is a party atmosphere - bars, dancing, action.  So he chooses hell.  But when he turns up, its all fire and brimstone - no party.  So he asks the Devil what happened? "That was the sales process, this is reality" Full Post

Low cash rates and manager skill....plus the First Degree US election special

Stephen Fisher - Friday, November 04, 2016

Low cash rates and manager skill  Full Post

Don't fool yourself: Gold is not an inflation hedge

Stephen Fisher - Wednesday, October 05, 2016

A JPMorgan banker asked me many years ago what I would recommend as an inflation hedge.  "Inflation-indexed bonds" was my first response, however I recanted that suggestion a few minutes later, noting that Inflation-indexed bonds still carried substantial real-interest rate exposure.  Further reflection led me to suggest cash, since the cash-rate is targeted by Central Banks as their preferred tool for fighting inflation.  Monetary policy is basically the following rule: cash-rates go up when inflation goes up and vice versa. Full Post

Falling velocity: A note on falling (or is that rising?) money demand

Stephen Fisher - Tuesday, September 20, 2016

We all use our spare time differently - some of us sail, some of us read and some of us spend just a little too much time working out whether that South Australian Shiraz really did deserve a gold medal

 

And then there are those of us who spend their spare time thinking about the better application of monetary policy, about Central Bank intervention risk and, of course, about Greece

 

Meet Fish, our CIO, who is almost solely responsible for keeping First Degree's lawyers constantly on standby, with his alternative (and just the right side of libelous, according to those lawyers) view of what those in power are mucking up

 

If you like what he writes, we are happy to take you on as a Client, because those lawyers are pretty expensive!

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