What Trump’s signature is worth if he loses Congress
In sixteen days the United States will renew the entire House of Representatives and slightly more than a third of the Senate. Almost everything written about…
Miguel Ángel Temprano | Economics, monetary policy, investment, financial markets and geopolitics
Investment fund manager, director and financial analyst. Named by Actualidad Económica magazine as one of the 100 most influential financiers in Spain. University lecturer and regular contributor to radio, television and the financial press.

An unverified statement now moves more money than many missilesColumn no. 62, titled «Hormuz doesn’t need to close to make everything more expensive»
years of professional experience
years managing investment funds
countries in which he has set up companies
columns published since 2019
Iran does not need to block the strait to do damage; it is enough that crossing it is expensive, slow and uncertain. The cost of insuring a tanker has risen as much as fortyfold, freight rates have quintupled and diesel trades at almost twice the price of crude, while the Fed and the ECB raise rates against an inflation rate half of which…
In sixteen days the United States will renew the entire House of Representatives and slightly more than a third of the Senate. Almost everything written about…
In February, Jack Dorsey signed a letter to Block’s shareholders that is worth reading twice. It announced that the company would shrink by almost half, from…
France still pays its debts and retains an economy capable of sustaining them. What is beginning to fail is confidence that its Government can halt the…
19-25 oct 2026 · KGRI 61,6 (Elevated)
A fortnight ago I closed this report by saying that if I could watch only one number, it would be the US 30-year bond. Well, the 30-year has fallen. According to the Treasury, it closed on Wednesday at 5.42%, twenty-four…
What you see here is a sample of my media appearances. If you want to see them all, or to find one in particular, they are available in the archive of appearances.
| Date | Media | Programme or headline | |
|---|---|---|---|
| 26 Oct 2026 | Negocios TV | Temprano: «Los BRICS son una mentira. Lo que quiere China es controlar a una barbaridad de países»Negocios TV | Watch video |
| 23 Oct 2026 | Radio Intereconomía | Trump busca a Irán: Acusa al régimen de impulsar el precio del petróleo antes de las midtermVisión global | Listen |
| 23 Oct 2026 | Radio Intereconomía | Cierre de MercadosCierre de Mercados | Listen |
| 22 Oct 2026 | Radio Intereconomía | Trump busca a Irán: Acusa al régimen de impulsar el precio del petróleo antes de las midtermVisión global | Listen |
| 19 Oct 2026 | Negocios TV | Temprano: «La dependencia mutua entre EEUU y China impide que ninguno pueda imponerse al otro»Negocios TV | Watch video |
| 17 Oct 2026 | Negocios TV | Temprano: «Trump es la antidiplomacia y eso complicará una relación fuerte con Volodímir Zelensky»Negocios TV | Watch video |
| 05 Oct 2026 | Radio Intereconomía | Cierre de MercadosCierre de Mercados | Listen |
There are no such entries in this selection.
PhD candidate in economics, awaiting defence of my thesis. In my research, I analyse the current validity of the quantitative theory of money, formulated by Nobel laureate Milton Friedman. I propose an update of this theory to reflect today’s economy, which is characterised by levels of globalisation and digitalisation very different from those of the 1960s. I demonstrate the validity of this reformulation using advanced econometric methods. I hold an MBA from IE Business School. In addition to my university studies in economics, I hold a degree in Biochemistry and Fundamental Biology.
A 63-year-old Spanish economist, born in Madrid, with over forty years’ experience in the management of multinational companies and in the management of investment funds, in both private equity and public equity.
I spent the first twenty years of my professional career in the ‘real’ economy – the sector that manufactures goods and provides services other than financial ones. The Americans call it ‘Main Street’. I worked in telecommunications technology at Wandel & Goltermann; in logistics at Mayne Nickless in London; and at EXPAL, a leading company in the fashion and defence sectors. From there, I made the leap into the financial world, where I have spent 25 years managing investment funds comprising both listed and unlisted securities. I have headed two fund management companies.
Over these 40 years, I have had to negotiate and deal with all sorts of counterparties. From executives at large multinationals to all manner of politicians, which has shown me that it is not enough simply to understand one’s own business; one must also understand why others make the decisions they do, decisions that are often shaped by geopolitics.
He has set up companies in sixteen countries across four continents and forged strategic alliances in twenty-four. He has served on boards of directors in Spain, Europe, Latin America, Africa and Asia, and has lectured on business valuation and strategy.
Global risk index at 61,6 out of 100.
Read the reportNormal conditions. Volatility, liquidity, dollar stress, safe havens, credit and commodities.
See the reportMacroeconomics, geopolitics and valuation, tailored to the audience and the format.
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