presidential election

One day after Trump unexpectedly won the presidential election, a no less surprising announcement came from hedge fund legend and central bank skeptic, Stanley Druckenmiller, who on November 10, told CNBC "I sold all my gold on the night of the election." Why? Because “all the reasons I owned it for the last couple of years seem to be ending", first and foremost his expectations that inflation is now set to spike, forcing money out of safe assets - like gold and Treasuries - and into the US Dollar.

In a mostly quiet Wednesday session, Asian stocks rose overnight along with European bourses, which were led higher by miners after Rio Tinto posted higher profits for the first time in three years and a bigger-than-expected dividend, while India’s Sensex extended declines after the central bank unexpectedly left rates unchanged. US futures were little changed as oil continued to fall after API reported a huge inventory build in the last week.

Another month, another all time high in Americans' confidence in the US economy.

Submitted by Suhasini Haidar via TheHindu.com,

Economist-mathematician Nassim Nicholas Taleb contends that there is a global riot against pseudo-experts

Things are rapidly changing for the hedge fund world, and not just in terms of chronically underperforming the S&P, which as the following chart from Goldman demonstrates, they have on 10 of the past 14 years, leading to relentless redemptions...

... but also in terms of crushing once pristine, seemingly untouchable reputations. Case in point: famed stock picker Julian Robertson and his Tiger Cub"proteges have ruled the Wall Street jungle for decades. After a down 2016, their reign is being challenged.