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Nathan Kowalski

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.

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  • Taxes, fiscal balancing and my apology
    Feb 4, 2019 8:00 am

    Taxes, fiscal balancing and my apology

    Back in 2012 I began writing articles on Bermuda’s escalating deficit which was ramping up at an alarming rate. At the time it was not front-page news or rarely discussed extensively. Bermuda’s fiscal situation now features prominently, and I am...

  • Twelve surprises for 2019
    Jan 14, 2019 8:00 am

    Twelve surprises for 2019

    “I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.” — Warren Buffett


  • Time to revisit the ‘12 surprises for 2018’
    Jan 7, 2019 8:00 am

    Time to revisit the ‘12 surprises for 2018’

    “The bottom line remains: forecasts and predictions are exercises in marketing. Outrageous and wrong forecasts are typically forgotten, and when one randomly happens to come true, the guru is lauded as the next Nostradamus.”


  • ‘Twas the market before Christmas
    Dec 24, 2018 8:00 am

    ‘Twas the market before Christmas

    ‘Twas the market before Christmas, when all through the day

    Money was flowing in every which way.

    Stocks were falling with much fanfare,

    In hopes that the Fed would soon care.

    Trump nested down in his White...

  • Macro concerns on rates and deals
    Dec 10, 2018 8:00 am

    Macro concerns on rates and deals

    Market volatility has increased markedly over the past two months. There are several macro concerns fostering consternation and a concern among investors. Here are a couple to consider with some narrative:

    Powell Powers...

  • Bermuda’s productivity paradox
    Oct 25, 2018 8:00 am

    Bermuda’s productivity paradox

    As we have written in previous reports, what fundamentally drives economic growth over the long term is the change in a country’s workforce and its change in productivity. This is the simple equation:

    Real Potential GDP Growth = Workforce...

  • Five lessons from the Great Financial Crisis
    Sep 17, 2018 8:00 am

    Five lessons from the Great Financial Crisis

    It may be hard to fathom and remember but ten years ago, the world was falling apart. Stock markets were beginning a dramatic free-fall, people were afraid banks would close and the entire financial system was being questioned. Now after a decade...

  • Generational shift is starting to show
    Jul 23, 2018 8:00 am

    Generational shift is starting to show

    Populism is reverberating throughout the world. It manifests via polarised political outcomes; trade skirmishes or immigration backlash and it affects nearly all regions. In fact, demographically we are likely entering a period of heightened...

  • Mutterings on China
    Jun 5, 2018 8:00 am

    Mutterings on China

    I just got back from a recent jaunt in China. It was my first time to “mainland” China and what follows are some of my thoughts brought about from my experiences there. It is worth noting that this was only a two-week trip through a small part of...

  • Investment perspective on Facebook fiasco
    Apr 16, 2018 8:00 am

    Investment perspective on Facebook fiasco

    Facebook woes have recently been front page news. The data breach saga has been narrated ad nauseam so we won’t bore you with the details but we will discuss some investment merits of dominant internet stocks and other general thoughts. Many may...

  • Reality of tariffs and trade
    Mar 12, 2018 8:00 am

    Reality of tariffs and trade

    Donald Trump announced tariffs on steel and aluminium last week. Although the US president feels “trade wars are good, and easy to win” I would suggest they are neither good nor easy.

    Although small targeted tariffs may be insignificant in...

  • Warren’s words of wisdom
    Mar 5, 2018 8:00 am

    Warren’s words of wisdom

    The Berkshire Hathaway’s annual shareholder letter has always been a special event for this writer as I continue to be a devout follower of Warren Buffett. Warren is not shy to admit his mistakes, offer timeless wisdom on investing and remind us...


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