Good morning. I have said it before and I will say it again: growth does not equal stock market return. (But did Chinese stocks indeed have a negative return in the 1992-2013 era?) 

http://awealthofcommonsense.com/people-will-never-learn/

How returns are being determined, according to some

http://uk.businessinsider.com/carl-richards-napkin-sketches-giveaway-2014-12

Comparing the oil crash to Nasdaq in 2000. Why? Because there is a crash? Show me the bubble first

http://www.bespokeinvest.com/thinkbig/2014/12/10/energy-sector-crashes.html

A bit of history on Chinese monetary policy

http://ftalphaville.ft.com/2014/12/10/2066951/chinas-changing-monetary-policy-charted/

And here is some more on China…

https://twitter.com/m_mcdonough/status/542776648945639426

The top 10 of pictures in 2014 according to Time

http://time.com/3572139/time-top-10-photos-2014/

…and -the new toy- the top ten of drone pictures in 2014

http://www.bbc.com/news/technology-30415475

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