MACROECONOMIC OUTLOOK

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Investors are obsessed with inflation. And with good reason.

It’s closely tied to interest rates and has ample implications for the relative valuation of current and future profits.

Shifts in the inflation outlook can cause sector rotations and shifts in Wall Street’s weighing of growth versus value, staples versus cyclical…

WEEKLY NEWSLETTER ON NEWLY LISTED COMPANIES AND UPCOMING IPOS

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The usual IPO summer slump is nearing its end. Private companies aiming to go public via an initial public offering have started to submit the necessary filings with the SEC.

Last week saw 14 filings in the US alone. Amongst them are some interesting companies. …

BRIEF MARKET COMMENTARY

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Nine months ago, I published a market commentary here on Medium. It outlined the large amounts of liquid reserves not utilized in the market.

In other words, record amounts of cash were sitting on the sidelines, waiting to be deployed when deemed appropriate.

Such a phenomenon is a tailwind for…

WEEKLY NEWSLETTER ON NEWLY LISTED COMPANIES AND UPCOMING IPOs

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Two of the summer’s most awaited IPOing companies had their first full week of trading last week.

The week also saw a couple of new companies priced, and the five days ahead look fairly undramatic.

Here’s an update on all things IPO.

Robinhood and Duolingo

Both online brokerage platform Robinhood and language-learning mobile…

THE CASE AGAINST ROBINHOOD, ETORO, AND PEERS

Robinhood finalized its IPO and began life as a publicly-traded company on the New York Stock Exchange last week.

Trading under the ticker $HOOD, the Californian company had a rough first day falling more than 8 percent after initially pricing well below expectations.

This week, the stock has been highly…

Collage by author

(This is part 1 in a new series on the behavioral economics behind speculation in Bitcoin and other cryptocurrencies)

Have you ever went to the supermarket for a gallon of skimmed milk, arrived to find only one gallon there, and been overly excited that you didn’t miss out on it?

CRYPTOCURRENCIES

Collage by author.

If I was a crypto-evangelist, I would be tired of Elon Musk.

The Tesla CEO appears to have the power to move markets, even for the largest cryptocurrencies Bitcoin and Ethereum, with a few lines in a tweet.

And Musk is making a mockery of the entire crypto space. …

RETAIL MANIA IN THE STOCK MARKET

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The challenges for AMC Entertainment — the holding company of cinema chain AMC Theaters — were large in both size and quantity.

Then the COVID-19 pandemic hit and lockdowns forced theaters to close.

Not exactly a dream scenario for the management of AMC, who needed (and still need) to perform…

Asger Bruhn

I’m an economist doing policy design and analysis. I write about the economy, taxation, innovation and growth, policy design, and financial markets.

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