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VP January 2023 Market Outlook & Discussion
Listen now (40 min) | *Recorded on Jan 12th for VP Clients. https://www.youtube.com/watch?v=FzZv6lZM_0Q
VP Research
1 hr ago
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VP January 2023 Market Outlook & Discussion
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March 2023
SVB in a leading indicator context
VP’s capital cycle, business cycle and tactical tools have helped time the key turns in US banks. The past 2.5 years have been a great demonstration of…
VP Research
Mar 25
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SVB in a leading indicator context
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Liquidity: theory vs practice
We have seen a lot of narratives on liquidity driving the YTD rally. We think the consensus view of how to use and interpret liquidity in practice is…
VP Research
Mar 11
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Liquidity: theory vs practice
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February 2023
The Age of Scarcity Part 3: The Capex Supercycle
An old asset base + large infrastructure spending gap + negative real financing costs (financial repression) = an incoming capex supercycle. This is the…
VP Research
Feb 25
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The Age of Scarcity Part 3: The Capex Supercycle
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Tian Yang on Behind the Balance Sheet Podcast
In case you missed it, our Head of Research Tian Yang was on Stephen Clapham’s Behind the Balance Sheet podcast this week. From Stephen: Variant…
VP Research
Feb 18
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Tian Yang on Behind the Balance Sheet Podcast
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What we got right and what we got wrong (4Q22)
Listen now (24 min) | *Released to VP clients on 27th Jan. A quarterly discussion where the VP team reviews what we've got right and wrong in our…
VP Research
Feb 11
1
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What we got right and what we got wrong (4Q22)
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The Age of Scarcity Part 2: The end of the age of abundance
We are exiting the age of abundance defined by cheap credit, cheap energy and cheap labor: profit and cash flow are sexy again. This is the 2nd part of…
VP Research
Feb 4
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The Age of Scarcity Part 2: The end of the age of abundance
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January 2023
Fundamental gold buy signal triggered
On a 6-month+ outlook, we stick with a risk-off asset allocation while cyclical LEIs are negative and our US Recession Signal remains active. We…
VP Research
Jan 29
3
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Fundamental gold buy signal triggered
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VP December 2022 Market Outlook & Discussion
Listen now (39 min) | *Recorded and released to VP clients on Dec 8th 2022. https://www.youtube.com/watch?v=Q1FhkcW3_hM
VP Research
Jan 21
1
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VP December 2022 Market Outlook & Discussion
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The Age of Scarcity Part 1: The inflationary impact of government spending
In the coming decade governments will no longer hide behind the “invisible” hand of the market. They will be forced to make explicit choices on how…
VP Research
Jan 7
1
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The Age of Scarcity Part 1: The inflationary impact of government spending
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December 2022
Volatility forest fires yet to burn
The below is an excerpt from our Nov 22nd report to VP clients. One of the interesting features of this year’s bear market has been the strong…
VP Research
Dec 17, 2022
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Volatility forest fires yet to burn
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November 2022
VP November 2022 Market Outlook & Discussion
Listen now (40 min) | *Recorded and released to VP clients on Nov 10th 2022. https://www.youtube.com/watch?v=pFFi0HjYxQQ
VP Research
Nov 26, 2022
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VP November 2022 Market Outlook & Discussion
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