Thank you, Thatcher

Global Economy, On the cover, Sin categoría

This article was published in El Confidencial on April 4th 2013

“The single currency will be fatal to the poorer countries because it will devastate their inefficient economies”. Margaret Thatcher in 1990.

In the late 70s, Britain was suffering from three problems that will seem quite familiar to any European today: rampant unemployment, a bloated public sector and a confiscatory tax policy. Henry Kissinger even said “Britain is a tragedy – it has sunk to borrowing, begging, stealing”. Continue reading Thank you, Thatcher →

My chat with the CFA Institute

Global Economy, Interviews, On the cover

Here is the extract of my chat with Gustavo Teruel of the CFA Institute, published here Daniel Lacalle runs a long–short sector-focused hedge fund in London. The hedge fund concentrates on the oil and gas industry, utilities, and infrastructure. Lacalle writes a weekly column for the Spanish digital newspaper El Confidencial and a blog, Energy, Markets and Money, about his areas of expertise. Several times, he has been voted into one of the top three places in the Thomson Reuters Extel Survey (considered the leading benchmark for excellence in investment banking and asset management in Europe) Mr. Lacalle has recently written a book, Nosotros, los Mercados (We, the Markets), released 12 March 2013, about his experiences in the asset management industry. Continue reading My chat with the CFA Institute →

Front Row: Back to Basics

Global Economy, On the cover, Sin categoría

Front Row represents the personal view of Rodrigo Rodriguez, European Head of developed cash trading for Credit Suisse.

Another Friday, another Front Row, and another election another mess…. when I heard at high school that those who do not know their history are condemned to repeat it…. I was not too sure what they meant. Now clearly I do. So, a practically identical result on the Italian election to that on the first Greek one, the outlier, the anti-everything party gets fantastic results, and the guy who played by the rules gets destroyed ( I hate to say I told you so…but I DID). The market immediately sells off and then the quick bargain hunters get in hoping for a quick recovery that unfortunately only happens in the States, and today we are back to the lows…let’s hope that the repetition of the History stops there as otherwise we are about to have a shocker! Continue reading Front Row: Back to Basics →

Front Row: Short France?

Europe, Global Economy, On the cover, Sin categoría

Front Row represents the personal view of Rodrigo Rodriguez, European Head of developed cash trading for Credit Suisse.

front row 2Milan beat Barcelona on Wednesday… aside of that being a tragedy….I am sure Silvio narrowed the gap on the back of it and on top of that the Fed starts thinking about reducing QE ….BOE gives a mixed message and the banks return less than expected to the ECB on the LTRO. Finally, BOJ thinks they might have moved too far too fast…definitely very bullish signals?…NOT! Continue reading Front Row: Short France? →