Season Investments



The Ultimate Regressive Tax

The topic of taxes is hugely divisive with the big question being who should be taxed and by how much. What many fail to realize is that the unconventional monetary policies currently being pursued by the US Federal Reserve are the ultimate form of a regressive tax.

Fiscal Cliff Diving

With only two weeks to go before the election and only eight short weeks between the election and year-end, the fiscal cliff could be the most influential macro force on capital markets for the balance of the year.

The Troika Has No Clothes

Decision makers in Europe would be hard pressed to admit they believe Greece will grow its way out of debt, yet they continue to finance the problem that is Greece. How do these two things reconcile in the real world?

Thermonuclear Patent Wars

A wave of strategic patent acquisitions over the past 18 months bear witness to the “patent arms race” that is ensuing as technology companies scramble for ways to defend their intellectual property (IP). We became fascinated with this burgeoning trend a little over a year ago and have continually asked ourselves how we might be able to position our clients to profit from it.

Shanghai Hanging Low

The global slowdown and specific concerns over China’s economy have resulted in Chinese equities being one of the worst performing markets this year. This weakness largely reflects the market’s uncertainty surrounding the soft or hard landing debate. We believe the underperformance has left China’s market very attractive from a valuation standpoint.