Archive

Commodities on the Verge of a New Supercycle

France’s Long, Cold Struggle with Home Insulation

INSEE’s 2025 study shows insulation cuts energy use modestly, with paybacks stretching a century. Quality, behavior, and context matter most

Frankreichs langer, kalter Kampf mit der Gebäudedämmung

INSEE-Studie 2025: Dämmung spart Energie, aber weniger als erwartet. Amortisation oft erst nach 100 Jahren – Qualität und Verhalten sind entscheidend.

Record Buybacks, Rising CapEx: Why Corporate Share Repurchases Are Losing Their Power in 2025

S&P 500 companies spent a record $550B on buybacks in early 2025, yet buyback yields fell to 20-year lows. Higher rates and soaring AI/data center CapEx are reshaping capital allocation.

The Atypical Silent Partnership in German Tax Law

Sunday thoughts on Gold

Market Pressure and Investment Illusions

Who Really Owns China’s Stock Market?

The Evolution of Hedge Fund Fees: From “2 and 20” to Pass-Through Models

U.S. Treasuries: Allies Double Down, BRICS Step Back