Nathan Kowalski is the chief financial officer of Bermuda-based investment firm Anchor Investment Management Ltd. He holds Chartered Accountant, Chartered Financial Analyst and Chartered Investment Manager designations. He is currently the president of the Chartered Financial Analyst Society of Bermuda board. Mr Kowalski started his career with KPMG, where he provided assurance, tax and financial advisory services for some of the largest corporations in Canada. He then worked for Deloitte & Touche Corporate Finance Inc, where he specialised in providing advice on mergers and acquisitions, valuations for corporate clients and private-equity firms, entrepreneurs and governments.
Dec 5, 2016 8:00 am
The key story in November was Donald Trump’s surprise victory in the US presidential election. With prospects of a Trump victory increasing as results poured in from key battleground states, equity futures sank, with the S&P 500 futures...
Nov 28, 2016 8:00 am
I took some time last week reading through the entire Speech from The Throne (“the Speech”) and the Reply to the Throne Speech (“the Reply”). There was actually a lot to like in both documents. What follows is not a political discussion but a...
Oct 24, 2016 8:00 am
Most readers will be familiar with articles I have penned on Bermuda’s debt in past issues of Financial Ramblings from the Rock. The recent refinancing conducted by the Bermuda Government is resurrecting this commentary. I swore to avoid a...
Oct 3, 2016 8:00 am
Changes in regulation and market conditions often introduce some unanticipated dislocations in markets. Two recent developments have or may have a dramatic effect in two areas that many investors may not be aware of or appreciate. I am referring...
Sep 19, 2016 8:00 am
Apple’s huge cash hoard is very tempting. Especially for governments which are unable to control their ever escalating public debts and spiralling entitlement deficits. The recent case where the EU decided that Apple had received illegal state...
Aug 29, 2016 8:00 am
The market continues to march higher. Looking under the hood, however, gives one a more granular view of what areas seem to be leading the charge. Specifically it is the areas of the market that proffer a narrative of safety and income. The...
May 30, 2016 8:00 am
“The value of a currency is, ultimately, what someone will give you for it — whether in food, fuel, assets, or labour. And that’s always and everywhere a subjective decision.” - James Surowiecki
Every day millions of local transactions are...
Feb 23, 2016 8:00 am
Nathan Kowalski, Financial Ramblings from the Rock
On August 7, 1974 French high-wire artist Philippe Pettit took a walk between the Twin Towers of the World Trade Centre. The young French acrobat had to contend with winds, the natural sway...
Feb 8, 2016 8:00 am
January was not a kind month for equity investors. The volatility was discerning and uncomfortable. While markets may correct further (nobody knows for sure) it’s very important to realise that market sell-offs are par for the course. In times...
Jan 11, 2016 8:00 am
“Humans don’t want accuracy; they want reassurance. The Nobel laureate and retired Stanford University economist Kenneth Arrow did a tour of duty as a weather forecaster for the US Air Force during World War II. Ordered to evaluate mathematical...
Dec 21, 2015 8:00 am
What follows is a series of twelve facets in the financial markets for 2015. I’m pretty sure you won’t be able to sing this as a carol.
1. One Fed Hike. They did it. Finally. Probably a bit late too. The Federal Reserve hikes interest rates...
Dec 15, 2015 8:00 am
Tomorrow we will get the Federal Reserve’s decision on whether or not they will raise the Fed Funds rate. The market has been stewing over a rate rise for what seems like an eternity. I think they will move and the market seems to agree, with the...
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