1. With the Santa Claus rally kicking in (and some more) over the last couple of days thoughts are turning to what comes after the holiday season. The Financial Times ran an interesting graphic showing that the historically much vaunted 'January effect' may not be as excitable as it once was perceived:
2. I grade myself on my 2014 macro calls...the scorecard looks ok I think! (Link here).
3. Having taken a look at the Carnival corporate numbers I conclude that the share has lots of theme positives...but the shares are a bit richly valued for me currently.