Best of the Web: 13-07-29, nr 805

Good morning. And we are back again! The strongest bull market since World War II? Apparently so…
http://www.thefiscaltimes.com/Columns/2013/07/24/Whats-Powering-the-Strongest-Bull-Market-Since-WWII.aspx#page1

On a less-friendly note: Japan is surrendering its gains pretty fast, these past three days…
weHHwOvCRGVyIXfvAbQD5FcnB7kjudOAHJYUouk1bihb9Y-42YETZ3reCOcI6WRBUqPt8CAC6lJoFD-45XKtdYZPyWIxO-ILJpBrR0_NA-mCuhfuXeEMqfaJDw
http://www.zerohedge.com/news/2013-07-28/nikkei-drops-1000-points-3-days-jpy-strongest-month

And how is this earnings season shaping up so far…?
lIhd8KrSFbYelcBnXpAhHdzeTp8YjKxvQZvKcUisuRP0TpcG13XdwV2ackcHrZbiilc43sNibHg86IPQ6TMkOf7kA_1z8SHpjcujjXnnI1RBmd5_s7CV7dfiwQ
.
rxlHcF_UExoPeGItV_iVAvVC7XJFjjsydffkh92hHEbbQboN_olFrRQhmHDxOwFtLaALVY_KUcpJf10_23llKgvhS3F9y0j_IZFnp6QNrdL0h0GrucqoXQg8PQ
http://www.bespokeinvest.com/thinkbig/2013/7/26/earnings-beat-rate-by-sector-this-season.html

Finally some positive news on the European banking system: Senior Loan Officers less negative
ToJBviPx0ubHyVpEj7qrqdWutOWDAmvx_GhHxOgYLKT-DTLd6kKvoGHOmZAk3Bb7QsmH6blXuxbI_KvI0rv_I_MOLEwSAvm1ttOvvnne-pYLNRYITVxkPyu5
http://soberlook.com/2013/07/glimmers-of-hope-in-euro-area.html

If you need some cash, look up a US firm…
oxASRZd8nLR6jUh6pwj-5ABeL2Ah0QsgQESJwPBIM-NYwSSxnuoAFjfWEsqjaz4Ui2R7-DKNYot9uhAnyKYiuFR0SXxl4J6DlQFeWpRBcIM3bD73zoCwL7hsKQ
http://economistsview.typepad.com/economistsview/2013/07/us-firms-holding-18-trillion-in-liquid-assets.html

…and related to that: why do US firms not invest more? (source: FT)

DXl6raoIEp8MWykuDHXMCWGpXGyJoKrPSCHieA_L7CMqxNDyloUnEHnFKuJnuIWkZI2F2IgNBAmF0RnVK1zvb-iF16Z-Qzl7ytTInL8ZC_IcDJHH0xtwOmWHog
http://www.ft.com/intl/cms/s/0/8177af34-eb21-11e2-bfdb-00144feabdc0.html

Cool chart showing (hyper)globalization over the last 150 years, or so…
5GszOKTypBxIqU2Inu5an_fh2d4h2hhbCTO_Zxufpaw9WXaBCcqLAXDdXRm1Z_G5bdoU5jgQ73Xl5lomAK5qRWsPBpyzNGeAdbIs_Mz5p_GaAkguqelfoYIb
http://conversableeconomist.blogspot.nl/2013/07/hyperglobalization.html

For all ye commodity bashers out there: the BIS has taken a look at the case for commodity investing… “On the correlation between commodity and equity returns: implications for portfolio allocation”

7xeLOrwMU8T5Y2SRCCF_YGaBfGe93yzQ5dV6P0zSQHEq32-aAo4ULvsZaKw2cx62938egdpGCydQpVM3mjQXaCqxBIwJHVyOrWc3JMfdAeVp9WQ1OUCfym6WSQ
http://www.bis.org/publ/work420.htm
http://ftalphaville.ft.com/2013/07/24/1580762/sorry-commodities-are-a-poor-diversification-tool/

Infrastructure under investment around the world according to McKinsey
ZlRHsSMhTEbL5amKTc8OHoq6uejXO3oBOhBmS47idlbY41YlMc0fK3hUcWlF2qlKV6CCPlL-dARaoDHagffhcdegxn1-lrDgG2D6gA3mOQCr0yZBZOiC2neTbA
http://economistsview.typepad.com/economistsview/2013/07/us-infrastructure-underinvestment-vs-other-developed-nations.html

Overview of global weather costs through the years…

fXw1o-JMC3Y45FMaG99bTvDCxr_dPLQHC0m3XKzo5RgF9e5GnRaqtrevG2wx-zlYx1ZPWlrsk8dcNKkMwUnB_WoQOuE97VcaM2rhUkgeEQlK1zDUYwk3OtiPQg
http://qz.com/108946/weather-cost-the-world-85-billion-so-far-this-year-only-14-of-that-was-insured/

Interesting chart showing that ageing is not only a Japanese proble… uhm, challenge…
CBvjy6OUbMsXfAoQv1xqzmZbbFfmsADFG5gTY0go388kZTWTX7VGruuikbdgjqwWZ8t0aeEmybocNf1C-wG1AKzndRvOMrfJW3ZpmNFeEupzUrlZ_uWx2T2U
http://www.zerohedge.com/news/2013-07-27/why-chinas-leaders-know-theres-storm-ahead

Ah yes, and the schedules for the week ahead: FOMC and the changed GDP calculation for the US
http://www.calculatedriskblog.com/2013/07/schedule-for-week-of-july-28th.html
http://blogs.ft.com/beyond-brics/2013/07/28/week-ahead-july-28-august-2/
http://www.ft.com/intl/cms/s/0/24ece6aa-f650-11e2-8388-00144feabdc0.html

A complete overview of all previous editions of Best of the Web can be found herehttp://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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