Good morning. Find yourself an asset manager with a poor background.

http://www.nber.org/digest/dec16/w22517.html

Bill Gross’ investment letter. With poem,

https://www.janus.com/insights/bill-gross-investment-outlook

Explaining the success of the UK market: the GBP

http://www.businessinsider.com/ftse-100-record-explained-pound-2017-1

Equities since the end of the 2009 sell-off

https://www.businessinsider.nl/jeff-gundlach-full-presentation-just-market-january-2017-2017-1/

The negative impact of tariffs

http://www.businessinsider.com/morgan-stanley-on-big-debates-on-wall-street-in-2017-2017-1

A bit of reading on secular stagnation

http://www.bradford-delong.com/2017/01/three-four-many-secular-stagnations.html

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