Behind the Headlines

The Impact of Going Digital

Stephen Leeb
Thursday, July 16, 2015

In the 1960s Canadian philosopher Marshall McLuhan issued his famous dictum “the medium is the message”, arguing that television’s rising ascendancy over radio would change the nature of, and the way people respond to, news and entertainment—what today we call “content.”  

Today we’re in the midst of a rise in another new medium, digital platforms such as streaming over the Internet that are supplementing our decades-long love affair with television. But we’d contend that, especially when it comes to entertainment, the message has remained surprisingly unaltered. It seems the... Read more about The Impact of Going Digital

The case for higher oil prices

Stephen Leeb
Friday, May 1, 2015

The case for higher oil—or, more precisely, much higher oil prices—continues to grow. One needs no magical powers to see why. One major source of market oversupply has been “tight” oil from U.S. shale formations. The general consensus has been that growth in fracking would slow with lower prices. Right and wrong. True, growth is slowing; however, growth is not only slowing but it has also begun to decline. There goes a major source of oversupply.

We will come back to fracking in a moment, but let’s first consider the other source of oversupply—the extra oil the Saudis have been... Read more about The case for higher oil prices

The need for cyber security continues to grow

Stephen Leeb
Friday, April 24, 2015

Last Friday, as Shanghai markets closed and European markets opened, Bloomberg terminals, by and large, were closed for business. A number of rumors made the rounds as traders desperately looked for prices needed to make trades. In case some of you don’t know, Bloomberg is the most heavily used global source of price information and provides a trading platform for securities of all types—especially bonds.

One rumor involved Coke—some employee, gesticulating while telling a joke, is said to have spilled his Coke on a server. Who knows what other excuses were given. Perhaps Michael... Read more about The need for cyber security continues to grow

The time will soon come to increase gold in your portfolio

Stephen Leeb
Friday, April 17, 2015

Among the many news items over the past few weeks, one especially stood out last weekend; it shows that the time will soon come to increase, even if only slightly, the gold in your portfolio. While not a cry for gold at $2,000 an ounce within months, we think gold has very little downside from here, with near-term upside to $1,400 to $1,600. We are probably in the second inning or so toward recognition of an inflection point in the shift from Western economic hegemony to hegemony of the East. Later on in this game, we expect to see the yellow metal very likely cross the Dow and decidedly... Read more about The time will soon come to increase gold in your portfolio

Ready to Make Waves

Stephen Leeb
Friday, April 3, 2015

Food, energy, and water. They’re all critical to human life, and they’re deeply interlinked. Of the three, water has tended to get the least attention. But that is changing. Fierce droughts in parts of the U.S. and elsewhere, depletion of groundwater, and other factors—including the country’s love affair with fracking—increasingly will highlight the urgent need to ensure adequate water supplies. This means well-situated water-related investments are potential long-term dynamos.

U.S. water infrastructure is in alarming decline. Nonpartisan organizations including the Congressional... Read more about Ready to Make Waves