Good morning. Nice overview from The Economist on various ‘asset classes’
http://www.economist.com/news/finance-and-economics/21583662-investing-luxury-items-can-yield-high-returns-risks-are-commensurate-fruits

Forget about yesterday’s sell-off in stocks: Shangai is (mysteriously) surging! It has been up +5.7% earlier today

http://www.forexlive.com/blog/2013/08/16/shanghai-composite-fat-finger-maybe-not-still-surging/

A colourful update on US debt and its components

http://www.ritholtz.com/blog/2013/08/the-deleveraging-american-consumer/

Final outcome of the second quarter earnings reports: Earnings were stronger than expected…

…while even revenues on average came in better than expected

http://www.bespokeinvest.com/thinkbig/2013/8/15/final-q2-13-earnings-and-revenue-beat-rates.html

And speaking of stocks: this is an interesting chart as it looks at total return and not just simply the price

http://www.rickferri.com/blog/markets/market-valuation-and-asset-allocation-decisions/

And as a reminder: the Shiller PE has risen to 23.8x trailing earnings…

http://blogs.ft.com/ft-long-short/2013/08/13/the-cape-of-less-hope/

Unbelievable video on a robot duplicating art..

http://vimeo.com/68859229
Demand for gold declined in Q2. Somehow I am not too surprised.

http://www.businessinsider.com/chart-of-the-day-gold-demand-2013-8

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