Helping our clients achieve superior risk-adjusted portfolio performance
is Merk's mission

I have a confession: I sometimes ask dumb questions.

Except it’s not a confession—it’s a strength. Dumb questions force us back to basics and illuminate an issue from a different angle.

I’ll keep asking them. Kudos to those who create environments where they’re encouraged.

Italy has gotten its act together in recent years.
France, not so much.

The chart below are the spreads of Italian (white) and French (orange) 10 year bonds versus German bonds.

French spreads now exceed Italian spreads.

Source for chart: Bloomberg
ft.com/content/2b7807…

If you want to know why we are incapable of addressing the deficit, it's because "we" are far more interested in whether AI helped write an OpEd than the substance of what Druckenmiller wrote.
We get what we deserve. wsj.com/opinion/much-a… x.com/AxelMerk/statu…

I used AI to write this post.

A "synthetic glue" to prevent cell mutation in pancreatic cancer patients.

Having lost my father to this most brutal cancer, this is fantastic news as a new era for medicine has begun.

Because technology is the answer.
wsj.com/health/pharma/…

In his Jackson Hole speech, Kevin Warsh will provide

Unpopular opinion: we should thank @SecScottBessent for sparking a serious debate about fiscal sustainability.