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Donald Trump has introduced so many changes to global trade and capital markets that I called my outlook for 2026 ‘The find out’ phase of FAFO (Google it). But there is an interesting interaction between tariffs and demand for dollar-denominated stablecoins that might become influential in 2026.

Clearly, we know that in the immediate aftermath of the introduction of tar...


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As I write these lines, there is no ceasefire in the war between Russia and Ukraine. But even if by the time you read this, the war is still ongoing, we have to be clear-eyed about the economic fate of Russia after the war ends and what that means for Europe.

First, we should be under no illusions that after four years of sanctions, the Russian government is on the brin...


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Accountants and financial analysts are in an arms race. Accountants try to make a company’s financial statements look not only as accurate as possible but also as flattering for the company as possible. Analysts, meanwhile, try to cut through the noise and focus on the profit measures that really matter. So, which profit measures matter most for the share price of a company?<...


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My latest Reuters column is out, and it focuses on the much-hated European automotive sector. It has a ton of problems, but in 2026, it might be a dark horse for outperformance.

Europe’s unloved auto sector may surprise investors in 2026

LONDON, Jan 12 (Reuters) - After two years of significant underperformance, the European


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One of the most influential studies on portfolio construction was published by Meir Statman in 1987. He found that with as few as 30 to 40 stoc...


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