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Insights from our CIO
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Insights from our CIO
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CIO Insights are written by Angeles' CIO Michael Rosen
Michael has more than 35 years experience as an institutional portfolio manager, investment strategist, trader and academic.
RSS: CIO Blog | All Media
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1 Dec, 2012
Angeles Wealth Management - Quarterly Review
US stocks, as measured by the S&P 500 Index, fell .4% in the final quarter of the year as Washington remained paralyzed, teetering on the edge of the fiscal cliff. Without Congressional action, more than $600 billion in tax increases and huge...
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1 Oct, 2012
Angeles Wealth Management - Quarterly Review
There can be several interpretations of the above lyrics and their relevance (or lack thereof) to the current world economic conditions. My interpretation is that the European Central Bank and the US Federal Reserve continue to tell us that they...
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1 Oct, 2012
3RD QUARTER 2013 - RECOMBINANT
Aretaeus was the most renowned physician of the ancient world, following in the path of Hippocrates, who lived 400 years earlier. Aretaeus treatise on diseases, which survives to this day, is a remarkably comprehensive catalog of known diseases...
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1 Jul, 2012
Angeles Wealth Management - Quarterly Review
For the second quarter of 2012, world markets remained imprisoned by the ongoing saga of the European debt crisis. Concerns about the fiscal stability of the PIIGS (Portugal, Italy, Ireland, Greece and Spain) continued to cast a dark shadow over...
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1 Jul, 2012
2ND QUARTER 2012 - BLUE
Richard Wagner wrote his monumental work, Der Ring des Nibelungen, over a 26-year period, 1848-1874. The Ring cycle consists of four operas, usually performed over four consecutive nights. Everything about the Ring is colossal, from...
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1 Apr, 2012
1ST QUARTER 2012 - WASTE LAND
Saint Louis was a booming town in the mid-19th century, the gateway to the American west. Henry and Charlotte were a typical young couple in this dynamic era: energetic, hard-working, raising a family. Henrys father was a Unitarian minister...rn-
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1 Jan, 2012
4TH QUARTER 2011 - BUSHIDO
Four to five hundred years ago, feudal Japan was wracked with internal wars. It was the SengokurnPeriod of warring states, a 150-year span of near-continuous strife as various groups fought for dominance throughout the archipelago.
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1 Jul, 2011
2ND QUARTER 2011 - GOOD NAME
Eddie was born in St. Louis in 1893 to first generation Irish-American parents. He married at the age of 19, and the first of his three children, Eddie, Jr., was born the following year. Working in his wifes family grocery...
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1 Jul, 2011
3RD QUARTER 2011 - GLOIRE
Glory is, perhaps, the trait with which the French people most identify. It abounds at Versailles, for example, which immortalizes not so much Louis XIV, as it does his glory. Americans have our battle cry of freedom, and proclaim liberty or death...
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1 Apr, 2011
1ST QUARTER 2011 - DECAY
Carbon. It's the fourth most abundant element in the universe, second in our bodies only to oxygen, and the only element present in every known form of life in the universe. No carbon, no life.
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1 Jan, 2011
4th Quarter 2010 - Pox
Blossom was a cow.Nothing special, really, just a cow of the ancient breed of Gloucesters, prized for their excellent milk and cheese. Extracting this precious liquid was, for millennia, tedious, hard work. Before the advent of mechanical milking...
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1 Oct, 2010
3rd Quarter - Chosin
Staring into the abyss, facing total collapse. A bold, even reckless, action to avoid disaster. An advance, and apparent victory. But a sudden turn of events, a wall of opposition, the recoveryrnis halted. And then reversed.
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1 Jul, 2010
2nd Quarter 2010 - Dam
American mythology is filled with epic stories of heroic men (and women) who forged a great nation through sheer determination: adventurers and tinkerers, who tamed and then shaped a wildrnand virgin continent, and in the process, created...
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1 Apr, 2010
1st Quarter 2010 - One
Near Granada, capital of AndalucÃa in southern Spain, sits the Alhambra, literally, red palace, one of the most extraordinary edifices in the world. It is a paramount exemplar of the superlative design and decoration of Moorish architecture...
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1 Jan, 2010
4th Quarter 2009 - Apology
It was a time of political tensions, when the resilience, even the very existence, of democratic societyrnwas being severely tested, by external threats and internal dissentions. As democracy had flourished, the state and its citizens prospered...
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1 Oct, 2009
3rd Quarter 2009 - Wilberforce
Britains rise as the dominant world power for over four centuries was propelled by two foremost, and complementary factors: its mercantilist economic policies and the preeminence of the Royal Navy. It is moot as to cause-and-effect of these two..
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1 Jul, 2009
2nd Quarter 2009 - Marathon
Hellespont, the ancient name for the Dardanelles, the narrow straight that connects the Sea of rn Marmara and the Black Sea with the Aegean and Mediterranean Seas, has a strong claim as the true crossroads of the world.
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1 Apr, 2009
1st Quarter 2009 - Zugswang
In central India, approximately 1,500 years ago, there arose a unique game, called Chaturanga, or four parts, referring to the four divisions of an army (elephants, chariots, cavalry and infantry). In the painting above, the deity Krishna is...rn
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1 Jan, 2009
4th Quarter 2008 - False Dawn
Islamic culture flourished, in music and literature (One Thousand and One Nights gave us the stories of Ali Baba and Aladdin, Scheherazade and Sinbad), astronomy and mathematics (aljabr, algebra, was invented here).
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1 Oct, 2008
3rd Quarter 2008 - Retreat
Michael Barclay de Tolly was neither French nor English, although his family traced its roots to the rnBarclay clan of Scotland. He was born in Lithuania, then part of the Russian Empire, to nobility, and as expected, joined the Tsars army when...
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1 Jul, 2008
2nd Quarter 2008 - La Chute ("The Fall")
Louis-Joseph, Marquis de Montcalm, Baron de Gabriac, seigneur de Saint-Veran, Candiac, Tournemine, Vestric, Saint-Julien, and Arpaon, was old French aristocracy on both sides of his family. For centuries, the family ruled lands throughout...
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1 Apr, 2008
1st Quarter 2008 - Panic
Butte is a gritty city on the continental divide in western Montana. Amidst the beauty of the Rockies, rn the town is surrounded by strip mines, and while not exactly impoverished, there is nothing about Butte that hints at the enormous wealth...
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1 Jan, 2008
4th Quarter 2007 - Despair
Northwest of Philadelphia runs the Schuykill (pronounced Scoo-kul) River. Before the Midwest was settled, before the San Joaquin Valley was irrigated, these rolling hills around this valley were among the most fertile ground in the world...
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1 Oct, 2007
3rd Quarter 2007 - Commedia
Easter Day in Florence, the year 1215: a woman flirted with a man, not her husband. He flirted rn back. The brothers of the offended husband declared a vendetta, thus beginning a nearly century-long feud. The Guelphs wore a red rose on the right...