Mr [Robert] Shiller describes a bubble as “a psycho-economic phenomenon. It’s like a mental illness. It is marked by excessive enthusiasm, participation of the news media and feelings of regret among people who weren’t in the bubble.” They are often enlarged by an expansion of credit. But establishing an objective definition is hard. – The Economist
(click here if chart is not observable)
(click here if charts are not observable)
(click here if charts are not observable)
Great lecture by the Pit Bull, Marty Schwartz, at Amherst.
(MrTopStep Exclusive)
One of the original “Market Wizards” in Jack Schwager’s classic best-seller, Marty “The Pit Bull” Schwartz is one of the few of that reclusive group to speak publicly and candidly about his trading experiences, his philosophy, and his life. Rarely have any of the original Market Wizards given even a brief interview, let alone allowed a video to be offered to the public. As in most areas of life, Marty Schwartz is the exception to the rule.
Money quote:
“What didn’t kill me made me stronger.”
(click here if video is not observable)
The BLS reported this morning,
The unemployment rate declined from 7.3 percent to 7.0 percent in November, and total nonfarm payroll employment rose by 203,000, the U.S. Bureau of Labor Statistics reported today. Employment increased in transportation and warehousing, health care, and manufacturing.
(click here if charts are not observable)
Stan Druckenmiller, founder of Duquesne Capital discusses his campaign to educate and mobilize action on entitlement reform and other government spending.
Click here for interview
“…one thing I learned from George [Soros] and what made me a better money manager…is not whether you are right or wrong, but how much money you make when you’re right and how much money you lose when you’re wrong…” – Stan Druckenmiller
(click here if pictures are not observable)
Ahead of this year’s Autumn Statement, David Cameron is hoping for a tightening of commercial ties between the UK and China, reports Seb Morton-Clark. But is there much substance beyond the headline projects?
For more video content from the Financial Times, visit http://www.FT.com/video
(click here if video is not observable)
Click on table to enlarge and for better resolution
(click here if chart is not observable)
(click here if chart is not observable)
Global Macro Monitor 