Best of the Web: 13-05-06, nr 761

Good morning. Dow 15.000. Now why haven’t I written a book with that title…
http://www.bespokeinvest.com/thinkbig/2013/5/3/djia-1000-point-thresholds.html

Interesting chart showing how euro-area cross border sovereign debt holdings have increased again…
q9_JcA_YZZHzKahk4hNf-Ukty1OaiwsJiEbQC4cUKE_KHw_LKbb39tzk6xSLBVHwC6qq18d94iY5YwWU783NF0p8aYsYQJojKPLkxWp6PTIGBAEqbck1qpBKLA
http://ftalphaville.ft.com/2013/05/02/1485002/loopy/

…while lending to non-financial corporates has done the reverse….
rmAYcD6So-oFvNr3YU4glUwwRpUkVu00mJl5dAOqnQwhAwRAyabcLCUsG52xGPr4v6Bgat7Xlu6eFBtBUzPxLS8fiAHJnigQUTQ2bZJHpPiPD4EgqmJbkX1eSw
http://www.zerohedge.com/news/2013-05-05/turning-donkey-butterfly

And talking about the euro-project: this is a pretty weird interview with former German Finance Minister Lafontaine….
http://www.telegraph.co.uk/finance/financialcrisis/10039329/German-euro-founder-calls-for-catastrophic-currency-to-be-broken-up.html

Why sell in May is not going to work this time round. Or at least, according to JP Morgan
oqBF-HsXx_bsQBkS1i3ZExJP4Y5CN94-qP5IAyokqd1OMfGO-FT3hx6mBMeEWA_WzxAiMxes4xkdXxaGYdCgoqTNHRgBbayvbTKbLuUf3mIUt7jCEBlZqL0Cdg
http://www.businessinsider.com/jp-morgan-hedge-fund-beta-2013-5

But keep in mind that the strategy seems to have worked pretty good, so far….
Ht9pvRijmLjL8hqZIYUpz8Tg_Ozeh8uSW8onoFc04v8dCfodytIPWt4HefYH1QQm-QgOs75x9GczTI6cqpXWTYm2BPXt6WnEHaRVWF3dKZKwtlAka3osqXfMHw
http://www.businessinsider.com/the-sell-in-may-and-go-away-trade-2013-5

Cool chart showing the temperature of earth as well as we have been possible to reconstruct
TTIFsxjKKB9xsG1R5INAnzSlolz5UhHzvItr8yeabYwqruXa6tbfoNLwj2yuXdP-TG1L0NXxICvyCXfklWKMCS5JmLG1dVsHFArIh7HBinUHsNG_SnkCnEb1WA http://www.nakedcapitalism.com/2013/05/the-climate-crisis-in-three-easy-charts.html

Always wanted to know how it works, with central banks: this is a good starting point
http://www.bis.org/publ/bppdf/bispap71.pdf

Remarkable chart showing what happened with Sweden’s central bank balance compared to the US and Euroland
g_m7MJDtKnxzjIT9vk4BfiD6CkeKBz1FynPc9m63PrxzDfeY6CmDTTvP393OXVk3NPm2MWhThDpM4jgDUPnK74Ll--s_Sjy82SqI4A_-wGz4A47HhYN06mP8OQ
http://fatasmihov.blogspot.nl/2013/04/undoing-central-bank-balance-sheet.html

I didn’t have time to read this piece on r-square, but it looks interesting
http://davegiles.blogspot.nl/2013/05/good-old-r-squared.html

Cool chart on financial asset ownership by households in various countries
y7841Ayt2-iRlPkYEDSp17DJ80PjooSGBTnYGajH_z1Ay27K09TTUyEJqwifRI747-XqmYPwXyYedEi0XFZAxqqp7VbW5ZqnRzCC779qcUPGtttvgCNzK8PN6g
http://www.businessinsider.com/gundlach-bond-bears-absolutely-wrong-2013-5

Ah, dr Copper. If only they would show this chart from 2000 onward… (in other words, I do not believe in causation in this case)
0YAjptxoO5rsZQWrqcpHVboYal2TFzipHUIUq2XY69sJ3eLJMr5JcVPE2nV8SEE1uKZ3S6xY4B5yBUlKCB3_s7g51t11dcFJo_8cFK4Yi8QbNslRgdbgs162jg
http://ftalphaville.ft.com/2013/05/02/1485472/dr-copper-telling-us-the-partys-over/

A number of interesting charts on the Chinese economy
2_on40LC39RmBKVkdfcvEFRC-TlXg7tlzClvYPNWOj-hV_BPT-bCgJvIwwr0baTcBSTjctENhSzGM-9l5yKBevfzDHDg8Dq_vWhS4IPWQ8k7B2OkH1Z7_HEGQQ
http://ftalphaville.ft.com/2013/04/17/1463992/chinas-credit-to-gdp-ratio-updated-and-why-it-matters/?

This probably already got a fair amount of attention, last week. “Rethinking macro-policy II”
http://www.imf.org/external/pubs/ft/sdn/2013/sdn1303.pdf

Simple but nice overview of the composition of the Dow Jones right from 1884
dt2XHHDD__NrQU3gX2r3rMTPdaVUb8hP9YbNjF-JvD-7DS609JUVywjnuuMdVwYYEgJ-m0D-WWjliQU9xBwQRdmw81Zw765PiM0Evd4_AquAlOdVqjLUaSfO_g
http://money.cnn.com/interactive/investing/dow-timeline/#

And speaking of US stocks: betting on the S&P500 index heavyweight does not pay off
Z8onzEAutI80Q5Z1gYjuIKrRAIqYxjnmMOQh7pSYX0pZlNXo9cWk_uWSfkT-7PnXeRGOoTGqFoRyGmaQOAPQXGYrELbX3ekY2pFjDqB72W7FjiSYqsOe2d-7qQ
http://www.businessinsider.com/financial-advisor-insights-may-2-2013-5

I have no clue what this chart actually is trying to show, but it looks important. Solar energy.
irNoEUYhIVCaOTjj6wGLjH0H5c9xDN2BJs9YfNmiirEQGMVnVoOuNMKNpSbF2Mz1jbsypxYDax2N8XZDl_6yRotZ08CwZCsBuY7UJwQVdsbhL5M9norsU63g8Q
http://www.businessinsider.com/citi-the-solar-age-is-dawning-2013-5

This one was released on the day I went on holiday, so pretty old. Still worth to look at though
p5BIeHxXOtghhlR6UljEFsATWYfL1TKwIocHoSb9qKVbubNhzDwIozEhegGOMk5jbY2aQarq6KmgZ4paVZmu6AglCFYLxzShHj3u-LIshCH-HQXGN0c0eH4VtQ
http://ftalphaville.ft.com/2013/04/26/1477242/counterintuitive-insights-that-are-only-now-making-the-mainstream-now/

And, of course, the week ahead…
http://blogs.ft.com/beyond-brics/2013/05/05/week-ahead-may-6-10/
http://www.calculatedriskblog.com/2013/05/schedule-for-week-of-may-5th.html

A complete overview of all previous editions of Best of the Web can be found here http://tinyurl.com/c8ge4c5. All links provided are collected from public websites, unless otherwise specified. I have not checked the data or information for accuracy used, and therefore do not guarantee that all data provided will be 100% correct. The links provided do not necessarily reflect my personal opinion and should be seen as general interest: oftentimes I do not agree with arguments presented, but nevertheless think it is worthwhile to read them. It is up to the reader to make up their own mind. Suggestions or discussions are more than welcome. Do not quote unless specifically cleared beforehand!

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