27 Jun 2013

Posted at 22:27h in The Friday Brief by
For much of this year a powerfully rising stock market seemed immune to deteriorating economic fundamentals. The most plausible reason was the Fed pumping billions in liquidity into the economy through their quantitative easing program known as QE3. But last week's markets highlighted some flaws in that logic.

21 Jun 2013

Posted at 10:10h in The Friday Brief by
How we hate the idea of removing a bandage. It so nicely covers the damage and the pain underneath that we soon prefer the façade to the reality. We especially fear its removal as we know the adhesive will only reluctantly and painfully give up its sticky hold on our very sensitive skin. Knowing the quick yank is best, we often resort to the painfully slow tugging approach.