Providence Capital 
Transfer and tax union Europe has really crossed the Rubicon. About 2000 years after Caesar did. And even now there is no going back: once you enter into debt together, you cannot just go back. The Rubicon separated the wealthy Northern Italy from the part where Rome held sway. The relatively rich European north has … Read more
Sweet It is the upside-down world of an economic crisis that does not want to become a financial crisis. Of central banks and governments that have gone “all-in” and are no longer taking good news for granted. Everything is pulled out of the woodwork, no support package seems too much, except those for Europe. Initially … Read more
It is disastrous, of course, but also like some kind of Alice in financial wonderland, what the stock market showed us in April. While we will soon carefully crawl out of our shell, we look around to see what kind of world we have ended up in. Will everything still be the same: working, traveling, … Read more
Economic impact corona virus With a few dozen infections at the time of writing, the corona virus is dominating the media and has become part of economic life. Stock market traders, by the way, seem to be the most contagious as they rarely got hit like this in one weeks’ time. The stock market suffers … Read more
2020 A new Year, a new start. It certainly has not been boring. But did we have something to celebrate? Not really, except for the fervent Brexit supporters, who got their way on 31 January, though they too might be in a different mood at the end of the year if the EU keeps its … Read more
“Roaring 10s” The last month of the decade has passed. We can now start warming up for the new year. Before we dare to think of a repeat of the “Roaring 20s”, we can already establish that behind us are the “Roaring 10s”. But without the spectacular decline at the end. As it was a … Read more
Interest rates and inflation One of the difficult aspects of investing is that sometimes one would want to be happy with price declines and still be disappointed with price rises. They are, of course, weird emotions, but they do fit with the defensive investor, which we have been for a while. At the same time, … Read more
Political power struggle While an economic cooling down was becoming increasingly evident, stock markets retained courage. But will the orchestra keep on playing courageously, while the iceberg is already well in sight? Is it overconfidence or justified in view of the Fed’s likely interest rate cuts and the resumption of the buy-back program by the ECB, with … Read more
Argentina If you would be the person making decisions on emergency credits to countries, would you lend 50% of available funds to Argentina? No, you would not, but the respectable IMF would, in fact did. “Last year, nobody was around or in a position to tackle a problem of this magnitude, except for the IMF”, … Read more
How sustainable is our responsible investment policy, and in particular with regard to the rest of the asset managers? And with sustainability we mean mainly the annual review of the PRI that we undergo. How do we monitor those Environmental, Social and Governance issues at the funds and the companies in which we are invested … Read more
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