Best of the Web: 14-08-21, nr 1048

Good morning. What has been the best performing asset class this year?

http://www.ritholtz.com/blog/wp-content/uploads/2014/08/annual-asset-return.png

And then there are still people claiming there is no inflation! (and 39 more charts on election spending)
vicxWpnhTLl-f9_onxZw-kiVlT5dyH5wkZJ1OMPCgGSd_QUULxI_rhiuffRWUhjHQDm3ZcA-2d4Ww2ppI4_1gAxAWbY7Gs6gke9V1BlYHRwxptuaJX112Vjf9m-TugXm2A

…and in case you wondered whether all that money works…?
R7L8uX7kzLYhEI00VLHvHv5DXvCLqWifQGg7SMBQX0YKv_sxbP5ySwmHSskTR3jwHYkg_UKppjX04ac-YXewml8JS5ZZQv_4du_tmZ7Y1ysIswFB74ZnYPwYV0IFNz91YA
http://www.vox.com/2014/7/30/5949581/money-in-politics-charts-explain

Look at all that cash… I sure hope that we are not moving to a Japan-like scenario…
7thAcx1KpFrKkvFmDhw25X86PJ3QfsCUBBUQcdxUAAjBmJydHbL5rzzhcAWcPny586PCgkyiRq7W67kWQJm7nSWboFKgeeXsiWwHQvODO5EqmSxDsDzIRDxhvBiXKsA4Nw
http://www.voxeu.org/article/corporate-governance-reform-japan

This looks pretty weird and alphaville explains why
TzqBlq8OGR1ln7r4VK0LD-MQAjKuRuPlB3EZIiZHmTJkq2euaV8-go_K1ZGf7qJufthiOsPJVKSRTdeFZOSRzyKxvtDUzhVi-bXgQiH4tm_aK0rf6sPscKF9F_Ow2o_W9g
http://ftalphaville.ft.com/2014/08/20/1938191/the-incredible-shrinking-foreign-demand-for-us-corporate-debt/

A study by the IMF on Emerging Markets and portfolio flows
1vnv2kKTeDW9IlfQaqUrq-b0qmhQ_HT-pszGJq5j4TaSRXHh1BMZUTwUuOhsBuRg0b-kVwcBy13I2fXCymKAX6TaAOusKk_sr5QaUOAyBdQwbOXDOdFyanBretvLW-nFpw
http://www.imf.org/external/pubs/ft/wp/2014/wp14156.pdf

I guess US small caps are not on the buy list for GMO…
tx9uT1-7CCwr27m4Pq8ZApeFxdJKGpWMtk_tpDIO0-0xPG775mEZWMllkVvgFGM8HTzPW7MW5HxZm-GKQAqqAe03oCL4otxY6M7i9IFyRcZNb549ykLz-tLhzqF5bWzB-A

http://www.zerohedge.com/news/2014-08-20/gmo-there-no-safe-place-hide

Another critique of Shiller’s PE as a market timing tool: earnings are pretty volatile…
trrBuBrneQLjN6O3it7bVg2OCvv2LzspHFBRtXz7fkFa1FEAL4C5fg6aHjXxECjA83ma0NNPEmDjEMWkgxos5B8ejxm9Qu8kbRZa9mghbPcCGM4NO8JDC1rADhTrSP0GBQ
http://statisticalideas.blogspot.nl/2014/08/cape-and-math.html

…and here are two more, one from Keltsky (via @leonmwc)

http://blogs.reuters.com/anatole-kaletsky/2014/07/25/markets-exuberance-is-not-always-irrational/

http://marginalrevolution.com/marginalrevolution/2014/08/from-the-comments-on-bob-shiller-and-cape.html

Here is one for the techno-optimists… Comes from @went1955 weekly’s tweet-overview
i3kfsyvpwjk_--p9Xv8mK7KHoBpFpe-t3COyq-XhgWsf0zq87m_pqNBY1_r0VGkGt7nGPo8adAnb4dmGrokRWc9s662iPVdn9prGh1HKEZ3h9UBmgODQMN3vm8RSsR0TpA

http://www.oneworld.nl/bloggen/blogs/de-week-tweets/de-week-van-went-tweets-22

In case you are looking for some info on the Roman Empire: 40 maps…
vVyIN_2BYO0n5-A27U4RBFcbtnBF4GRgEgIHrBLgeZAT1-2Ao5cl5o1jGH5NM73Zn_JvhwV-rFATV4VawH8UDSmML25AL14qWYTtpSmJ_A-q3HZFMxvflj4YNzCg18SLNA
http://www.vox.com/2014/8/19/5942585/40-maps-that-explain-the-roman-empire

There must be something about the fresh air of Heidelberg…
XrUkMF0K1rdh1wBoZKp_ugvBuheSrpHWR9kTJQ6aTfZLn0wQR1ZN_XFV3PWZM3fMjfRLHW-KygWk-L0tF-jYiW1nWysdBz5USFv9ob--1Dl38Ypt0TSFvRzaGe2jBS5EGw

http://www.businessinsider.com/the-cities-where-the-most-billionaires-were-born-2014-8

 

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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