Authored by Christoph Gisiger and Mark Dittli via Finanz Und Wirtschaft,
Howard Marks, Co-Chairman of the US investment firm Oaktree Capital warns that valuations in the financial markets are uncomfortably high and that investors are acting too complacent.
While September and Q3 were the latest solid month for US risk assets, which ended the month and quarter at all time highs, across the globe returns were relatively more mixed for the sample of assets tracked by Deutsche Bank. That said, a large number of assets (21 of 39 in local currency terms) finished with a total return between -1% and +1% which in part reflects another month of incredibly low volatility with the VIX in particular spending much of it trading between 9.5 and 11.0.
Russia Gold Rush Sees Record Reserves For Putin Era
by Yuliya Fedorinova of Bloomberg via Irish Indepedent
Vladimir Putin is doing his part to keep the upswing in gold alive.
Since the Russian president went on a geopolitical offensive in Ukraine in 2014, the haven asset had its first annual gain in four years in 2016 and is on track for another in 2017.
While S&P futures were modestly higher, rising 0.1% in a quiet session in which China, South Korea, India and Hong Kong were closed for holidays, the Euro, Spanish stocks and bonds were broadly lower as Spain faces its worst constitutional crisis in years following a dramatic, violent crackdown on Sunday's Catalan independence referendum in which 89% of the voters wanted to secede from Spain.
Legendary investor Jim Rogers, who in 1973 founded the Quantum Funds, a prominent family of hedge funds, with then-unknown Hungarian-born financier named George Soros, joined RealVision’s Steve Diggle for a wide-ranging interview where the legendary financier, who moved to Singapore in 2007 with his family because he wanted his children to be immersed in Asian culture, discusses his views on gold, bitcoin, and what makes a good investor – along with his belief that a major correction in financial markets is about to begin.
http://player.vimeo.com/video/235411967