An introspective piece by Gideon Rachman, arguably one of the best commentators on geopolitics. The introspection brings about two key aspects which most commentators might relate to – first, how one or two key guiding ideas underpin most of your opinions as a commentator and second, how one tends to find more success in doomsday predictions compared to your more optimistic forecasts. Not quite the happy thought we would have liked to part 2018 with….
“If anything, I think my bigger mistakes came when I ditched my habitual pessimism, and tried to look on the bright side. In a column written at the beginning of this year, I suggested that 2018 might see positive change in Iran and Saudi Arabia. Spectacularly wrong. Blinded by optimism, I also predicted that England would win the World Cup. Wrong again. Going further back, I also failed to anticipate the aggressive actions of Russia in Georgia in 2008 and Ukraine in 2014, guessing that the Kremlin would behave more “reasonably”. By contrast, imagining the worst has usually proved to be quite a good strategy. In November 2015, a year before the US presidential election and before Mr Trump had won a single primary, I wrote a column urging readers to take seriously the idea that Mr Trump and Marine Le Pen could be elected as presidents of the US and France. Of course, Ms Le Pen failed. But Mr Trump did indeed make it all the way to the White House. (In case you haven’t noticed). My longstanding predictions of a trade war — reiterated in the FT’s end-of-year predictions for 2018— were also finally vindicated.”
Note: the above material is neither investment research, nor financial advice. Marcellus is not authorized to provide either. Marcellus does not seek payment for or business from this email in any shape or form. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India as a provider of Portfolio Management Services.
Copyright © 2018 Marcellus Investment Managers Pvt Ltd, All rights reserved.
This communication is confidential and privileged and is directed to and for the use of the addressee only. The recipient if not the addressee should not use this message if erroneously received, and access and use of this e-mail in any manner by anyone other than the addressee is unauthorized. If you are not the intended recipient, please notify the sender by return email and immediately destroy all copies of this message and any attachments and delete it from your computer system, permanently. Any opinions or advice contained in this email are subject to the terms and conditions expressed in a duly executed contract or written agreement between Marcellus Investment Managers Private Limited and the intended recipient. No liability whatsoever is assumed by the sender as a result of the recipient or any other person relying upon the opinion unless otherwise agreed in writing. The recipient acknowledges that Marcellus Investment Managers Private Limited may be unable to exercise control or ensure or guarantee the integrity of the text of the email message and the text is not warranted as to its completeness and accuracy.
If you want to read our other published material, please visit https://marcellus.in/blog/
Note: the above material is neither investment research, nor financial advice. Marcellus does not seek payment for or business from this publication in any shape or form. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India as a provider of Portfolio Management Services. Marcellus Investment Managers is also regulated in the United States as an Investment Advisor.
Copyright © 2022 Marcellus Investment Managers Pvt Ltd, All rights reserved.
Get weekly insights on our investment strategies and more...