Better lucky that smart? Managers of active funds are now extremely concentrated in the strongest parts of the US equity market with 'momentum' massively outperforming the market in August (and ramping higher off the North Korea missile launch lows).
After a two-year long bear market, bitcoin came roaring back in 2016, and has been climbing ever since.
The digital currency reached a new all-time high above $4,650 on Tuesday, an increase of more than 350% year-to-date. The sheer intensity of its gains has inspired some comparisons to the digital currency's initial run-up, which ended with the collapse of bitcoin exchange Mt. Gox in early 2014, marking the end of the first bitcoin bull market.
Bloomberg’s David Westin spoke with Berkshire Hathaway Chairman Warren Buffett on his 87th birthday before his charity auction lunch at Smith & Wollensky’s in New York.
Gold Reset To $10,000/oz Coming "By January 1, 2018" - Rickards
Authored by Michael Lebowitz via 720Global.com,
The amount of monetary stimulus increasingly imposed on the financial system creates false signals about the economy’s true growth rate, causing a vast misallocation of capital, impaired productivity and weakened economic activity.
To help quantify the amount of stimulus, please consider the graph below.
Data Courtesy: Federal Reserve
Federal Reserve (Fed) stimulus comes in two forms as shown above.