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Tails of the unexpected
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"The interactions which generate non-normalities in children’s games repeat themselves in real world systems – natural, social, economic, financial. Where there is interaction, there is non-normality."
Bank of England, 8 June 2012 , Paper by Andrew G Haldane and Benjamin Nelson
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The Gold Standard of the 1930s and the Euro today
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The longer the country remained on the Gold Standard the longer it took for the economy to restore their pre-1929 levels of activity.
Deutsche Bank, Investments Office , June 2012
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Swiss National Bank: the new kid on the currency devaluers block
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In relation to GDP, total assets as well as foreign currency reserves of the SNB have surpassed the ratio of all major central banks, including China. In comparison, the ECB, the Bank of Japan and the Fed are left way behind !
Investments Office, June 2012
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"Europe and Global Equity: It’s Better Than You Think"
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Some contrarian remarks from the ultimate value fund manager.
The Oakmark Funds, 05/22/2012 , David G. Herro
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...on Europe financial crisis and extreme risk aversion
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Quote
Cazenove Capital Management, Strategy & Economics, 18th June 2012 , Richard Jeffrey
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Book Review: The End of Growth
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Thinking globally and examining history can reveal the flaws in books forecasting economic doom.
Fisher Investments, MarketMinder, 14.05.2012 , By Naj Srinivas
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Cement Bubbles
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An interesting chart that points at countries engaging into excessive fiscal policies. China is one of the usual suspect.
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Creative Destruction in Action
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The singular aspect of Moore’s law means that these disruptive forces are becoming more frequent and therefore occurring over a shorter period of time. We should prepare ourselves for some exciting developments over the coming decades.
Lobnek Wealth Management, Newsletter, May 2012 , Altug Ulkumen, CFA, Partner & Chief Investment Officer
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Corporations and Cash Hoarding
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Corporate cash holdings are at their highest ever, as these two interesting charts attest.
Federal Reserve Bank of Cleveland, 01.10.2011; WSJ, 2012
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Capturing Value in Global Networks: Apple’s iPad and iPhone
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"We find that Apple continues to capture the largest share of value from these innovations (...) China’s role is much smaller than most casual observers would think."
University of California, Irvine, University of California, Berkeley and Syracuse University , Kenneth L. Kraemer, Greg Linden, and Jason Dedrick
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