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)

…and in case you wondered whether all that money works…?

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…

http://www.voxeu.org/article/corporate-governance-reform-japan

This looks pretty weird and alphaville explains why

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

http://www.imf.org/external/pubs/ft/wp/2014/wp14156.pdf

I guess US small caps are not on the buy list for GMO…

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…

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

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…

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…

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 Do not quote unless specifically cleared beforehand!