Insights from Tocqueville - Page 2 of 14
Seeking Value Around the Globe

Seeking Value Around the Globe

by | Jul 31, 2024 | Insights

When I became partner at Tocqueville in 2000, we were at the tail end of the dotcom bubble. The previous five years had been characterized by a surge in technological innovation around the Internet, with U.S. companies leading the way. In equity markets, this resulted...
The Second Coming

The Second Coming

by | May 9, 2024 | Insights

The unholy gyre of political and societal extremes widened further in the most recent quarter, as did the distance, until just recently, between the reality of interest rate policy and the market’s hopes for it. Falconer-in-Chief Powell seems to have kept his eye...
Incrementalism is a Virtue

Incrementalism is a Virtue

by | Jan 31, 2024 | Insights

The end of 2023 brought a welcome respite for investors of nearly all stripes. Conventional wisdom coalesced around the narrative that the Treasury’s decision to moderate the size and pace of its debt issuance, along with the decline in the Federal Reserve’s favored...
The Wall of Worry has Thickened

The Wall of Worry has Thickened

by | Oct 10, 2023 | Insights

The alphabet soup entities of the FOMC, OPEC, ChatGPT, GLP-1, and the CCP dominated the sentiment of financial markets during the past quarter, as investors (and the Federal Reserve, aka the “Fed”) searched for data-dependent direction on where to deploy capital....
Shall We Play a Game?

Shall We Play a Game?

by | Jul 30, 2023 | Insights

During the second quarter financial markets participants assessed the consequences of (1) high-profile bank failures, (2) the debate over raising the debt ceiling, (3) the uncertainty with respect to the Federal Reserve’s (Fed) rate trajectory, and (4) the prospects...
Shall We Play a Game?

Liquidity Solutions and Investment Opportunity

by | Apr 30, 2023 | Insights

As portfolio managers, we are focused on growing and preserving our clients’ assets and wealth over the long term. As our clients know from experience, this means investing in strong companies with good returns that are positioned for growth; responding to shifts in...