Economics

I took a recent trip to El Salvador to see how the much-publicized economic transformation has progressed since my last visit. I examine the implications of government initiatives such as volcano bonds, the new Aeropuerto del Pacifico and the impact of bitcoin as legal tender. Other key themes like tourism growth, the importance of remittances and US immigration policy, and the consequences of the recent IMF deal are explored as well.

I joined Scott Osheroff for a discussion on where to allocate capital in the current and accelerating age of conflict. We discuss the prospects for emerging and frontier market equities with exposure to Central Asian banking, such as Halyk Bank and TBC Bank, as well as high dividend stocks in Latin America such as Ecopetrol. We highlight the risks of investing and banking in front-line economies such as Georgia, examine the likelihood of capital controls returning to the West and go through an interesting thought exercise on where Chinese capital would flow in the event of sanctions.

I had a chat with Calvin about the repercussions of the reduced throughput of both the Panama Canal and the Suez Canal.

I had a discussion with Professor Tuomas Malinen, Associate Professor at the University of Helsinki, on the outlook for Geopolitics and risk in 2024.

A lot of people having been asking me about Colombian real estate following the election of Gustavo Petro. I spent quite a lot of time in Colombia last year exploring real estate and immigration opportunities. Overall my take was that Medellin was very interesting as...

Back in Istanbul I caught up with Scott Osheroff. He has been living, working, and investing in Asia for a decade. We used this opportunity to discuss some of the themes we are currently invested in, or are considering investing in. We also touched base on what I...