Good morning. Nice one! Chart showing the relationship between earnings growth and dilution over the past 40 years. Buying China does not mean you are buying earnings growth???

(bron: http://www.businessinsider.com/morgan-stanley-on-gdp-equity-returns-and-bill-gross-2012-8)

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But I like this one as well. Total return, broken down in earnings growth, dividends and PE expansions. Dividends are the stable yellow part

?????????????????? http://ftalphaville.ft.com/blog/2012/08/15/1119421/the-folly-of-assumptions-about-em-equities-growth/

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Brazil to the rescue! Brazil unveils $ 66 billion stimulus plan

?????????????????? http://www.ft.com/intl/cms/s/0/b498bc4c-e6e4-11e1-965b-00144feab49a.html

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Hey: Jackson hole is coming up??? new QE measures as well?

?????????????????? http://www.calculatedriskblog.com/2012/08/jackson-hole-economic-symposium-2012.html

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Right. A bit of apples and pears, but still. The growth of the blue columns is impressive to say the least

?????????????????? http://www.zerohedge.com/news/why-qe-not-working

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Even though the rest of the world seems to have temporarily lost interest in Greece, Der Spiegel keeps on pushing the country towards exit

?????????????????? http://www.spiegel.de/wirtschaft/soziales/griechenland-krise-jetzt-hilft-nur-noch-die-pleite-a-850178.html

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Housing sentiment in the US continues to rise. When will the first analyst start to call it a bubble???

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/8/15/nahb-homebuilder-sentiment-rises-again.html

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Do I fully understand the margin of error? (via @pietgautier)

https://sites.google.com/site/pietgautier/_/rsrc/1320074728035/graphs-and-charts/margin.jpg

?????????????????? https://sites.google.com/site/pietgautier/graphs-and-charts

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