Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Sunday, November 3, 2013

Abenomics in action

A roaring Japanese recovery.  If they can actually carry out the serious micro-economic reforms necessary, the growth will continue.

Just a reminder: this index is a diffusion index -- 50 represents the point at which negative and positive responses are exactly equal, while an index level greater than 50 indicates an expanding economy, one below 50 a contracting one.

Modest China rebound continues

The HSBC PMI rose again; industrial production has clearly bottomed. Doesn't mean China is going back to previous 15% plus IP growth rates, but does mean that there isn't going to be a "hard landing".