Research & News

Keller Quarterly (April 2015)

Letter to Investors We lead off this quarterly letter where we ended our previous one, with the same quotation by Ben Graham, the father of securities analysis.  He wrote in his wonderful book, The Intelligent Investor, “Indeed, the investor’s chief problem – and even his worst enemy – is likely to be himself.”  What a… Read More »

Weekly Geopolitical Report – The New World Order: Part IV (April 6, 2015)

by Bill O’Grady In this final installment of our four-part series on The New World Order, we will examine how, in light of winning the Cold War, policymakers have been unable to settle on a set of key priorities and offer what we see as “glimpses” of a new policy emerging.  In a sense, the… Read More »

Weekly Geopolitical Report – The New World Order: Part III (March 30, 2015)

by Bill O’Grady In this third installment of our four-part series on The New World Order, we will examine how policymakers coped with the new superpower role.  First, we will examine how policymakers attempted to resolve the tensions created between the desires of its domestic constituencies and foreign superpower obligations.  There are going to be… Read More »

Weekly Geopolitical Report – The New World Order: Part II (March 23, 2015)

by Bill O’Grady This report is the second installment of our four-part series on The New World Order.  This week we will focus on two themes.  First, we will examine the global public goods the superpower provides, and second, we will analyze how the U.S. has provided those goods.  The global hegemon will often face… Read More »

Weekly Geopolitical Report – The New World Order: Part I (March 16, 2015)

by Bill O’Grady As our regular readers know, we have been focusing for several years on the issue of the uncertainty surrounding America’s superpower role.  It has been our position that the U.S. has lacked a coherent foreign policy since the Cold War ended in the early 1990s.  Although we cannot definitely say that a… Read More »

Weekly Geopolitical Report – Good luck, Jonathan. Good luck, Nigeria. (March 9, 2015)

by Kaisa Stucke, CFA Nigeria will hold its presidential election on March 28, following a six-week postponement due to heavy fighting in the northern region of the country.  The election promises to be a close one between the incumbent, Goodluck Jonathan, and a former military leader, Muhammadu Buhari.  Jonathan represents the Christian, southern region of Nigeria,… Read More »

Weekly Geopolitical Report – Yemen: A Land with a Rich Past and a Poor Present (March 2, 2015)

by Kaisa Stucke, CFA The country of Yemen is slowly dissolving in the midst of an ongoing civil war.  The Houthi movement has aggressively secured territories in the north, including taking over the capital city of Sana, while al-Qaeda has widened its activities in the south. At the end of January, Yemeni President Abd Rabbuh Mansur… Read More »

Weekly Geopolitical Report – Détente with Iran: An Update (February 23, 2015)

by Bill O’Grady This report is an update to a similarly titled piece published in 2013 (see WGR, 10/7/2013, Détente with Iran?).  The primary impetus for this update comes from a recent article by Michael Doran outlining President Obama’s “secret” Iran strategy, but similar themes have also been offered by other strategists. In this report, we will… Read More »

Quarterly Commentary (Feb 20, 2015)

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into… Read More »

Quarterly Commentary (Feb 10, 2015)

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into… Read More »

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