For those who went, how was Davos for you? As my invitation to the World Economic Forum got lost again in the post, my MUST READ is this good summary article on 'what we learned' namely:
Of course all that talking at Davos does have some negatives as this chart from The Economist showed:
Outside of Davos it was the worst week for US equities since 2012. Risk was out, gold was in and emerging market currencies were somewhat volatile:
That really was a big fall in some EM currencies.
Total Federal Reserve bank assets goes through US$4 trillion...
...meanwhile US Treasury sales get more and more focused on domestic purchasers. Sensible, of course, but it may require higher rates to induce sufficient demand...
Put the above three charts together and the threat from less QE to higher Treasury rates to an impact on the economy is clear
One for the gold followers: 'Austria’s mint is running 24 hours a day to meet orders for gold coins, joining counterparts from the U.S. to the U.K. to Australia in reporting accelerating demand boosted by the bear market in bullion'. Link here.
Got to have a bit of gold
Smartphone boom - as per this link 'Market research firm Gartner predicts 443.5 million mobile phones will be sold in China in 2014, and 90 percent of them will be smartphones'.
Smartphones are individually big...but prospectively over the next five years not as big as the 'internet of things' i.e. the point where everything connects to everything
A thought-provoking article about 'a prolonged phase in which regional affairs are dominated by geopolitical competition between the United States and China'
I would be happy to sell Mr Murdoch my shares at 20%+ above prevailing...
Yahoo - provocative article saying that the company is a dead man walking.
Vodafone - The Daily Mail runs an article saying that China Mobile is considering a 5-20% stake. Just over 3 years it was Vodafone selling a stake in China Mobile! (link here)
Buffett on JPM - I liked some of the quotes in this interview:
A little joke for those of you who follow economic theory...