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Don’t go there!

Perhaps ironically, one of the most famous 4 Horsemen of the Apocalypse paintings is by a Russian:

  • Pestilence (on a White Horse -> COVID !?)
  • War (on a Red Horse -> PUTIN !?)
  • Famine (on a Black Horse -> HYPERINFLATION !?)
  • Death (on a Pale Horse -> TOO LATE !?)


For relevant updated news go to the EMMA press pages, or follow the following currently relevant (independent) news:
  • Meduza
  • DW
At least 28 Ukrainian journalists are in Russian captivity. Here are some of their stories.

At least 28 Ukrainian media workers and citizen journalists are currently imprisoned in Russia or Russian-occupied territories of Ukraine, according to a new report from Ukraine’s National Union of Journalists. Some of these reporters were arrested in occupied Crimea prior to Russia’s full-scale invasion, while others were captured in Ukrainian territories that came under occupation after February 2022. In a recent report, Novaya Gazeta Europe profiled more than a dozen Ukrainian journalists who are currently in Russian captivity. Meduza shares some of their stories here.

Bronze statue honoring mutineer Yevgeny Prigozhin appears at St. Petersburg cemetery

A monument has been erected in honor of Yevgeny Prigozhin in St. Petersburg at Porokhovskoye Cemetery, where the late mercenary leader and one-time insurrectionist is buried. The installation features a granite obelisk bearing Prigozhin’s name, the dates of his birth and death, and the symbol of his private military company, Wagner Group. There’s also a life-size bronze statue of Prigozhin depicting him with a three-star insignia on his chest. (Russia and the Russian proxy states in Donetsk and Luhansk each awarded Prigozhin heroism medals.)

‘The Defense Ministry is going through a cull’. How a war between Kremlin elite clans shaped Putin’s post-inauguration appointments

In the last month, five high-ranking Russian military officials have been arrested on corruption charges in what amounts to an unprecedented purge, coinciding with the dismissal of longtime Defense Minister Sergey Shoigu. Sources close to the Kremlin say that the Defense Ministry shake-up and Vladimir Putin’s post-inauguration personnel changes are largely the result of an “inter-clan war” among elites in President Vladimir Putin’s inner circle. Meduza explains how these clans operate behind closed doors, how they influenced Putin’s government reshuffle, and what clan dynamics can tell us about Russia’s future.

Russia’s Finance Ministry proposes return to progressive taxes on personal income

Russia’s Finance Ministry has submitted legislation that would reintroduce progressive taxes on personal income. According to the newspaper Kommersant, which obtained a copy of the draft amendments, the progressive scale would begin with annual incomes exceeding 2.4 million rubles ($27,100) with the following brackets as income rises:

Russian courts turn more and more to seizing suspects’ assets

Since the February 2022 invasion of Ukraine, Russian courts have become 1.5 times more likely to seize suspects’ property. According to a new investigation by Novaya Gazeta Europe, judges froze nearly 1.3 trillion rubles ($14.7 billion) in felony cases in 2022 and 2023.

A patchwork solution. Ukraine has stalled Russia’s new offensive near Kharkiv by redeploying troops from other fronts, leaving defenses elsewhere stretched thin

Like our earlier reports on the combat situation in Ukraine, this article takes stock of the recent developments on the battlefield based on open-source information. Meduza has condemned Russia’s invasion of Ukraine from the very start, and our detailed military analyses are part of our commitment to objective reporting on a war we firmly oppose.

A volcano located near the famous Blue Lagoon has erupted once again — the fifth such eruption since December. Icelandic authorities have declared a state of emergency but air traffic has not been significantly affected.
Belgium is investigating "pro-Russian interference networks" ahead of next month's European Parliament elections.
The EU has billed its climate policies as trailblazing. But experts say a rightward shift after the European Parliament elections in June could see the bloc backpedal on its green ambitions.
Ukraine's military said it shot down 13 of 14 drones launched by Russia in an overnight attack on three regions. Meanwhile, Sweden announced €1.16 billion in military aid for Ukraine. Follow DW for more.
Kharkiv, a city in northeast Ukraine, is under constant Russian fire. DW met children there who could finally attend class in person after two years of war — in an underground school.
Dick Schoof, the former head of Dutch intelligence and anti-terrorism, is set to become the new Prime Minister of the Netherlands at the head of a coalition government led by Geert Wilders' far-right PVV party.


2EMMA Featured Stories

Mandela’s Kiss Endures

Palestinian leader Yasser Arafat and Nelson Mandela embrace at Mandela's home in Johannesburg, South Africa, on Jan. 13, 1990.


The 2024 Global Elections Super-Cycle

Stay tuned for continuous updates on elections around the world. Click on a country for the latest elections data and analysis.

  • Number of national elections to be held in 2024            18 of 68
  • Overall turnout (based on registered voters)                        63%
  • Total number of ballots cast in 18 elections                   467,094,737


Pulled conclusions from pooled data compilations

Using some of the world’s largest companies by market cap & some of the most quoted indices + two most sung alternatives: data for this millennia where available

  • At 134x, Apple is the absolute stock price growth winner; with Amazon at 45x and Google at 32x
  • Despite the lack of interest or dividends, gold at 6.6x looks good compared to any other stock or index!
  • Barrick Gold on the other hand seems to be poorly correlated to anything including the gold metal itself!?
  • But Barrick is the only stock producing negative correlations with most of the indices including a relatively high -0.77 with the Euronext100 index
  • If one wast trying to get something totally uncorrelated on purpose- it would be hard to beat: gold and the Euronext100 index at -0.03; or Barrick and the Hang Seng index at 0.04; or gold and Merck at 0.16; or BTC and the FTSE index at 0.19
  • Correlation against a basket of indices & alternatives is best in Disney and Google (0.81-0.82), albeit at different growth multiples
  • If an average historical P/E is somewhere in the 20x range, then the current S&P quoted average which is in high 30s is as warned high, BUT: only Amazon and Visa seem to be widely out of range (justified by growth in online transactions?), with many below current & historical averages
  • In the current world of no interest & no inflation, maybe the higher P/E averages are justified..? For how long, that is a different question…

For hedging ideas, other growth, correlations, or averages- take a look at the data set/:>  the Excel file: 2emma stock monitor or go to the Data Monitor


2EMMA Hall of Fame


The Economist – Graphic Detail

Almost like it was done by John Graphicon 🙂

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