Good morning. So much for retail investors being the dumb money…

http://qz.com/176707/emerging-market-stocks-are-so-ugly-they-might-just-be-beautiful/

“Six China shadow banks threatened with default over coal firm exposure: paper”
http://www.reuters.com/article/2014/02/14/us-china-trust-default-idUSBREA1D06420140214

New research by the IMF: there is no magical debt level after which growth drops of. Government debt, that is…

http://www.imf.org/external/pubs/ft/wp/2014/wp1434.pdf

Interesting overview, even though I doubt that let’s say dropbox has done much innovation lately: ‘the world’s most innovative companies’
http://www.fastcompany.com/most-innovative-companies/2014/xiaomi

Fair point: something has to give here

http://www.businessinsider.com/retail-jobs-going-up-sales-going-down-2014-2

Nice chart. Not sure what the link with inflation is though (via @jackneele)

https://twitter.com/jackneele/status/433709039424245761

Predictable, but still interesting: job growth comes from young firms

http://www.zerohedge.com/news/2014-02-13/chart-day-where-do-jobs-come-and-where-do-they-go-die

Interesting data from the ECB on corporate leverage in the various Eurozone countries

http://www.ecb.europa.eu/pub/pdf/mobu/mb201402en.pdf

Ok, on the 13th of February you really want to know which asset class has done best, right?

http://www.businessinsider.com/year-to-date-asset-class-performance-2014-2

Morningstar’s opinion on whether or not emerging markets are cheap (via http://www.iexprofs.nl/Column/Opinie/116194/Zijn-opkomende-markten-goedkoop.aspx)

http://news.morningstar.com/articlenet/article.aspx?id=634648

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