With 35% of the world’s grain supply subject to the disruption of the Russia-Ukraine war, it seems likely that the next six months will see a disruption in global food supplies, in some areas causing famine. If so, that will complete the set of evils supposedly unleashed upon the world by the Four Horsemen of […]

Standard investment textbooks and advisors mandate that you should have a percentage of bonds in your portfolio, the percentage rising with age (my Vanguard page advises me to have fully 70% of my money in them). Yet bonds offer no upside, they do not protect against inflation, and lawyers working for borrowers have ensured there […]

Peabody Energy (NYSE:BTU) share price fell 17% last Monday on news it had made $534 million in margin payments, hedging against the price of its main product: coal. Investors may justifiably feel aggrieved; they successfully called a revival of the coal market, only to be thwarted by an amateurish management that thwarted them. Not to […]

President Vladimir Putin’s catastrophic blunder in invading Ukraine has upset the applecart of the post-1991 international order. The outcome of that conflict is currently unknown – there are a wide range of possibilities. However, most of the better outcomes will result in an end to the globalization dream – in reality, nightmare – and a […]