Please feel free to download various commentaries that Jonathan Baird, Editor and Publisher of the Global  Investment Letter,  has written on a wide range of topics relevant to investors.

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Commodities

Currencies

Geopolitics

Misc.

Global Investment Letter

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U.S. Equities Benefiting from Foreign Capital Flows
April 9, 2019
I look at hundreds of charts a week, and the most useful tend to teach multiple lessons or elegantly illustrate an important macro factor. The chart below depicting relative equity valuations...

 

The Markets of 1899 and 2019
April 2, 2019
I came across a chart contrasting the size of equity markets in 2019 vs. 1899 that I think is worth discussing...

 

The Power of the Market
March 19, 2019
Events of the past week have sadly reminded us of the increasingly troubled world in which we live...

 

Inspired by a Recent Conversation...
February 19, 2019
Recently I had a conversation with an experienced portfolio manager. I started talking about the implications of Brexit, and he cut me short saying...

 

US Equities: Are Post Election Gains Sustainable?
November 13, 2016
The shocking election of Donald Trump On November 8th has introduced a host of new factors that will influence…

 

Still the Best Investment for the Balance of the Decade?
July 13, 2016
In early July 2015, I wrote an article suggesting that the best investment for the balance of the decade would be US demoninated…

 

Beware of Market Complacency
March 23, 2016
In the past month, we have seen the volatility index (VIX) drop almost in half, while North American high yield bonds…

 

Time for Caution in Markets?
January 6, 2016
The first trading day of 2016 saw a very sharp drop in Chinese equities that served as a major catalyst for lower…

 

The Best Investment Over the Next Five Years?
November 26, 2015
I have spoken for the past several years of my belief that the factors that precipitated the financial crisis of 2008…

 

Are US Equities Set to Gain in 2016?
November 8, 2015
Since my last blog post in late August, US equities have duly made a smart recovery from a low established…

 

Great Investment Opportunities This Fall?
August 25, 2015
The past several days have confirmed in dramatic fashion that world equity markets are correcting sharply…

Will Oil Rise or Fall in 2017?
November 2, 2016
It is essential for every serious investor and student of current events to cultivate an educated opinion of…

 

Time to Sell Oil?
June 10, 2016
The price of oil has staged an impressive rally in 2016, rising approximately 60% since my post…

 

3 Reasons Why Oil Has Likely Bottomed
January 19, 2016
I wrote last July that I believe oil would be weak for the short through medium term at its then price of $51…

 

Will Oil Prices Rise or Fall?
July 20, 2015
Oil is the most important commodity because of its dominant role in all but the least developed economies…

 

Will the US Dollar Rise or Fall in 2017?
November 16, 2016
The election of Donald Trump as President of the United States will continue to influence markets, not least currency…

 

Yuan Devaluation One of a Number of Potential Black Swans Facing Market
April 11, 2016
Macro factors are currently playing, and will continue to play, an unusually large role in the generation of investment…

 

The US Dollar Bull Market Will Resume
February 16, 2016
It has been my view for some time that US denominated assets will prove to be the best performing asset class…

 

Will the Euro Ultimately Collapse?
July 13, 2015
The current crisis involving Greece has served to highlight the stresses within the European Union and…

 

Economic Chart Offers Clues to the Future
February 25, 2019
Things continue to grow more interesting if not disturbing, on the geopolitical front, with the upcoming meeting between Donald Trump and Kim Jong-un, a decision on Brexist and…

 

Geopolitical Risk Continues to Rise
January 28, 2019
This week, the state of China’s relations with the West and its implications for investors are foremost in my thoughts. Relations with China, already complicated by trade tensions, were dealt a serious blow…

 

Welcome to 2019...Fasten Your Seatbelts....
January 4, 2019
The coming year is likely to be even more turbulent than 2018. A host of factors are set to converge in 2019….factors that will generate dramatic news headlines and produce challenging markets…

 

History: A Path to Better Investment Results
July 12, 2016
For those who became involved with the capital markets in the 1980s and 1990s, the world was a relatively…

 

3 Ways Brexit Will Change the World
July 4, 2016
The recent vote by the United Kingdom to leave the European Union surprised many, including some of the leading…

 

Central Banks and the Future
April 16, 2019
It seems like New Year’s Day was very recent, but we already find ourselves in the second quarter of the year. Our 2019 forecast has held up well so far this year, with the…

 

Is This the New Normal?
March 26, 2019
It is human nature to adapt to changes and quickly consider them the new normal. An obvious example is...

 

The Importance of the American Consumer
March 12, 2019
One of the central themes of our work at the Global Investment Letter is that all markets are interconnected and should, therefore, be considered in the investment process. The chart below illustrates this point, and a number of useful conclusions…

 

8 Rules for Better Investing and Trading
August 17, 2016
The investment process is difficult and enormously complex…

 

5 Best Books on Investing
December 1, 2015
There is no shortage of books on Investment, though more than a few are of dubious value…

 

5 Tools for Better Investment Results
November 17, 2015
As a portfolio manager for 25+ years, I have, through experience, identified a number of broad principles…

 
Global Investment Letter

Access Our Free

Commentary and Sample Issues!

For  Access to the Free Articles and Sample Issues and to Receive Updates about the Global Investment Letter Please Provide the Basic Contact Info Below.     


​By accessing content, you confirm that you have read and accept the Terms of Use and Privacy Policy.       


U.S. Equities Benefiting from Foreign Capital Flows
April 9, 2019
I look at hundreds of charts a week, and the most useful tend to teach multiple lessons or elegantly illustrate an important macro factor. The chart below depicting relative equity valuations...

 

The Markets of 1899 and 2019
April 2, 2019
I came across a chart contrasting the size of equity markets in 2019 versus 1899 that I think is worthy of discussing...

 

Inspired by a Recent Conversation...
February 19, 2019
Recently I had a conversation with an experienced portfolio manager. I started talking about the implications of Brexit, and he cut me short saying...

 

US Equities: Are Post Election Gains Sustainable?
November 13, 2016
The shocking election of Donald Trump On November 8th has introduced a host of new factors that will influence…

 

Still the Best Investment for the Balance of the Decade?
July 13, 2016
In early July 2015, I wrote an article suggesting that the best investment for the balance of the decade would be US demoninated…

 

Beware of Market Complacency
March 23, 2016
In the past month, we have seen the volatility index (VIX) drop almost in half, while North American high yield bonds…

 

Time for Caution in Markets?
January 6, 2016
The first trading day of 2016 saw a very sharp drop in Chinese equities that served as a major catalyst for lower…

 

The Best Investment Over the Next Five Years?
November 26, 2015
I have spoken for the past several years of my belief that the factors that precipitated the financial crisis of 2008…

 

Are US Equities Set to Gain in 2016?
November 8, 2015
Since my last blog post in late August, US equities have duly made a smart recovery from a low established…

 

Great Investment Opportunities This Fall?
August 25, 2015
The past several days have confirmed in dramatic fashion that world equity markets are correcting sharply…

Will Oil Rise or Fall in 2017?
November 2, 2016
It is essential for every serious investor and student of current events to cultivate an educated opinion of…

 

Time to Sell Oil?
June 10, 2016
The price of oil has staged an impressive rally in 2016, rising approximately 60% since my post…

 

3 Reasons Why Oil Has Likely Bottomed
January 19, 2016
I wrote last July that I believe oil would be weak for the short through medium term at its then price of $51…

 

Will Oil Prices Rise or Fall?
July 20, 2015
Oil is the most important commodity because of its dominant role in all but the least developed economies…

 

Will the US Dollar Rise or Fall in 2017?
November 16, 2016
The election of Donald Trump as President of the United States will continue to influence markets, not least currency…

 

Yuan Devaluation One of a Number of Potential Black Swans Facing Market
April 11, 2016
Macro factors are currently playing, and will continue to play, an unusually large role in the generation of investment…

 

The US Dollar Bull Market Will Resume
February 16, 2016
It has been my view for some time that US denominated assets will prove to be the best performing asset class…

 

Will the Euro Ultimately Collapse?
July 13, 2015
The current crisis involving Greece has served to highlight the stresses within the European Union and…

 

Geopolitical Risk Continues to Rise
January 28, 2019
This week, the state of China’s relations with the West and its implications for investors are foremost in my thoughts. Relations with China, already complicated by trade tensions, were dealt a serious blow…

 

Welcome to 2019...Fasten Your Seatbelts....
January 4, 2019
The coming year is likely to be even more turbulent than 2018. A host of factors are set to converge in 2019….factors that will generate dramatic news headlines and produce challenging markets…

 

History: A Path to Better Investment Results
July 12, 2016
For those who became involved with the capital markets in the 1980s and 1990s, the world was a relatively…

 

3 Ways Brexit Will Change the World
July 4, 2016
The recent vote by the United Kingdom to leave the European Union surprised many, including some of the leading…

 

Central Banks and the Future
March 12, 2019
It seems like New Year’s Day was very recent, but we already find ourselves in the second quarter of the year. Our 2019 forecast has held up well so far this year, with the…

...  

Is This the New Normal?
March 12, 2019
It is human nature to adapt to changes and quickly consider them the new normal. An obvious example is...

 

The Importance of the American Consumer
March 12, 2019
One of the central themes of our work at the Global Investment Letter is that all markets are interconnected and should, therefore, be considered in the investment process. The chart below illustrates this point, and a number of useful conclusions…

 

Economic Chart Offers Clues to the Future
February 25, 2019
It seems like New Year’s Day was very recent, but we already find ourselves in the second quarter of the year. Our 2019 forecast has held up well so far this year, with the…

 

8 Rules for Better Investing and Trading
August 17, 2016
The investment process is difficult and enormously complex…

 

5 Best Books on Investing
December 1, 2015
There is no shortage of books on Investment, though more than a few are of dubious value…

 

5 Tools for Better Investment Results
November 17, 2015
As a portfolio manager for 25+ years, I have, through experience, identified a number of broad principles…