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The End of Cheap Labor

Author: Bruce Liegel This paper contains three parts. Part I will set out the financial underpinning of why demographics are important to global macro investing. In Part II, I will explain how the current demographic trends are affecting labor costs, inflation, commodities, and pension funds. Part III will be a

REITs: An Overview

Author: Bruce Liegel I was recently asked to weigh in on REITs, and here are my quick thoughts. What are REITs? A REIT is a real estate investment trust, or simply an investment vehicle for companies to sell a stake in their firm via an equity offering. REITs give the

The Carry in the Conundrum

Author: Bruce Liegel Preamble This is the first of what I hope will be a long-term monthly publication of my thoughts on investing in markets. My hope is that I can show you how institutional investors look at markets and how they invest. I have had a front-seat view as
The Carry in the Conundrum