Insights
We started Auour almost ten years ago with the desire to invest people’s hard-earned savings in a way to mitigate market downturns without sacrificing the market’s potential during the good times. It is a challenging objective. Our means of outperforming is to lose less in bad markets—
Insights
It is hard to shake a stick without hitting an economist these days. And given how lousy a job they have been doing forecasting the economy, we would argue that a giant stick is needed so that we can hit more of them! We want to focus on two economists
Insights
We would like to introduce Nobuya Nemoto, our guest for this month's newsletter. Nobu has been a great resource to Auour for the past year as we all navigate a unique economic landscape. "Inflation is the tiger whose tail central banks control,” according to the ex-Chief
Insights
Let’s start with a few historical observations: * Equity markets have gone up 80% of the time when viewed on a 6-month rolling period. They have experienced 10% or greater declines over a 6-month period approximately 10% of the time. * Of the worst downturns over the past 60
Insights
“It is more sekyr [certain] a byrd in your fest, Than to haue three in the sky a‐boue.” - John Capgrave's The Life of St Katharine of Alexandria, 1450 The last four months have seen investors move from a futurity (new word for us) approach to a more
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“So I just don’t think a lot of people have seen this. When’s the last time anyone here has seen interest rates up 2 years in a row and 6 or 7 times this year and 4 or 5 next? Nobody has seen that. Nobody has seen a
Insights
Two thoughts from Oliver Burkeman (h/t @jposhaughnessey) “True security lies in the unrestrained embrace of insecurity—in the recognition that we never really stand on solid ground, and never can.” “Uncertainty is where things happen.” Over the past two long-drawn-out years, we have discussed the idea that
Insights
The world’s addiction to low interest rates reminds us of the Sirens of Greek mythology who allegedly (never convicted) inhabited an island between Aeaea (and you thought Auour had a lot of vowels) and the rocks of Scylla. Their sweet songs (low interest rates) attracted sailors (borrowers), only to
Insights
In our May 2021 newsletter, Breaking Windows, we discussed inflation and its impact on the investment markets. We said the primary drivers of inflation were the large stimuli injected unevenly into the global economic system through governments and central banks. That newsletter focused on one side of the equation—demand—
Insights
We recently watched a TED talk by fiction author John Green. He opened his talk by discussing Agloe, a made-up town in New York that he used in his book Paper Towns. Agloe was created by the cartographers who made Esso maps in the 1930s as a means of
Insights
<img class="wp-image-6814" src="https://auour.com/wp-content/uploads/2021/10/graphical-user-interface-description-automaticall.png" alt="Graphical user interface Description automatically generated"> We are keeping with our summer series of more charts and fewer words. Most of
Insights
If you follow us on LinkedIn, you will notice our desire to improve our vocabulary through the launch of the Auour Word of the Day (AWOTD). Within this note, you will see demonstrations of our fresh learnings. As with our last note, however, we are going to keep text to
