BIG MARKET NEWS WEEK 01 Dec – 05 Dec 2014

 

China

Monday, Dec. 1, 2014 01:00
CNY NBS Manufacturing PMI (Nov)
China Monday, Dec. 1, 2014 01:45
CNY HSBC Manufacturing PMI (Nov)
United Kingdom Monday, Dec. 1, 2014 09:30
GBP Markit Manufacturing PMI (Nov)
United States Monday, Dec. 1, 2014 15:00
USD ISM Manufacturing PMI (Nov)
Australia Tuesday, Dec. 2, 2014 00:30
AUD Building Permits (MoM) (Oct)
Australia Tuesday, Dec. 2, 2014 3:30
AUD RBA Interest Rate Decision
Australia Tuesday, Dec. 2, 2014 3:30
AUD RBA Rate Statement
United Kingdom Tuesday, Dec. 2, 2014 09:30
GBP PMI Construction (Nov)
Australia Wednesday, Dec. 3, 2014 00:30
AUD Gross Domestic Product (YoY) (Q3)
United Kingdom Wednesday, Dec. 3, 2014 09:30
GBP Markit Services PMI (Nov)
European Monetary Union Wednesday, Dec. 3, 2014 10:00
EUR  Gross Domestic Product s.a. (YoY) (Q3)
United Kingdom Wednesday, Dec. 3, 2014 n/a
GBP Autumn Forecast Statement
United States Wednesday, Dec. 3, 2014 13:15
USD ADP Employment Change (Nov)
Canada Wednesday, Dec. 3, 2014 15:00
CAD BoC Interest Rate Decision
Canada Wednesday, Dec. 3, 2014 15:00
CAD BOC Rate Statement
United States Wednesday, Dec. 3, 2014 15:00
USD ISM Non-Manufacturing PMI (Nov)
Australia Thursday, Dec. 4, 2014 00:30
AUD Retail Sales s.a. (MoM) (Oct)
Australia Thursday, Dec. 4, 2014 00:30
AUD Trade Balance (Oct)
United Kingdom Thursday, Dec. 4, 2014 12:00  

GBP BoE Interest Rate Decision (Dec 4)
United Kingdom Thursday, Dec. 4, 2014 12:00  

GBP BoE Asset Purchase Facility (Dec)
European Monetary Union Thursday, Dec. 4, 2014 12:45
EUR  ECB Interest Rate Decision (Dec 4)
European Monetary Union Thursday, Dec. 4, 2014 13:30
EUR ECB President Draghi’s statement
European Monetary Union Thursday, Dec. 4, 2014 13:30
EUR  ECB Monetary policy statement and press conference
United States Thursday, Dec. 4, 2014 13:30
USD Initial Jobless Claims (Nov 29)
Canada Thursday, Dec. 4, 2014 15:00
CAD  Ivey Purchasing Managers Index s.a (Nov)
United Kingdom Friday, Dec. 5, 2014 09:30
GBP  Consumer Inflation Expectations (Nov)
Canada Friday, Dec. 5, 2014 13:30
CAD Net Change in Employment (Nov)
Canada Friday, Dec. 5, 2014 13:30
CAD Unemployment Rate (Nov)
United States Friday, Dec. 5, 2014 13:30
USD Nonfarm Payrolls (Nov)
United States Friday, Dec. 5, 2014 13:30
USD Unemployment Rate (Nov)
United States Friday, Dec. 5, 2014 13:30
USD Trade Balance (Oct)

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    New Zealand Monday, Dec. 22, 2014 22:45 NZD Trade Balance (MoM) (Nov) United Kingdom Tuesday, Dec. 23, 2014 10:30 GBP  Gross Domestic Product (YoY) (Q3) United Kindom Tuesday, Dec. 23, 2014 10:30 GBP  Gross Domestic Product (QoQ) (Q3) United States Tuesday, Dec. 23, 2014 14:30 USD Durable Goods Orders (Nov)…
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     Japan Sunday, Nov. 16, 2014 23:50 JPY   Gross Domestic Product (QoQ) (Q3)Preliminar European Monetary Union Monday, Nov. 17, 2014 14:00 EUR ECB President Draghi's Speech Australia Tuesday, Nov. 18, 2014 00:30 AUD RBA Meeting's Minutes Australia Tuesday, Nov. 18, 2014 08:25 AUD RBA's Governor Glenn Stevens Speech United Kingdom…
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    Australia Monday, Nov. 3, 2014 01:30 AUD Building Permits (MoM) (Sep) China Monday, Nov. 3, 2014 02:45   CNY HSBC Manufacturing PMI (Oct) United Kingdom Monday, Nov. 3, 2014 10:30 GBP Markit Manufacturing PMI (Oct) United States Monday, Nov. 3, 2014 16:00 USD ISM Manufacturing PMI (Oct) Canada Monday, Nov.…
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10 Tips From a Buddhist Monk on Living a Fulfilled Life

1. Never stop trying

The worst thing technology has taught us is to be lazy.

According to a Monk it is crucial to try several times before giving up. It is also important to try different approaches. When you have reached the point where nothing works then make peace and move on, but giving up after only trying once usually leads to disappointment.

Creating any practice or new habit requires patience and a “never stop trying” attitude.

 

2. All the answers come from within

A fundamental principle for Monks is to use intuition.

In order to deal with problems the world throws at you, you need to use your sixth sense. Buddhism students are only given a small amount of information from which they have to solve big problems. This is part of their preparation for facing the world.

In essence the universe will open the door, but you need to walk through it without losing sight or becoming disappointed when the answer isn’t clear from the start is a discipline we must try to master.

All the answers reside within us; we just need to look in the right places and trust ourselves.

 

3. Failure equals growth

This is a lesson very few people seem to understand. Making a mistake or failing at something tends to make us focus on the worst.

You should keep in mind that there are always two sides to a coin. Failures and mistakes are a learning process and a precious one at that. Someone can teach you a valuable lesson, but unless you actually go through it yourself it won’t hold as much value.

Taking chances are such a critical part of a fulfilled life and yet we are scared to take part in the learning process.

Monks know there are two sides to everything in life: with good must come bad just like with growth must come failure and a lot of this comes down to one’s perspective.

 

4. Know the power of impermanence

Impermanence is one of the most important buddhist teachings and one that must be fully understood and accepted in order to fully understand life.

NOTHING IS PERMANENT and the sooner you understand what this really means and accept this, you will be able to live a life filled with less expectation from anything and anyone.

The only thing that is constant is change itself and when you can learn to embrace change, beautiful things begin to shift in our lives.

 

5. Learn the art of patience

For some people patience is the hardest thing to achieve. Notice how these people become angry and agitated quite quickly?

There is a time and place for everything. Time is man-made and should never cause you frustration. Patience is definitely a virtue and the moment you are capable of controlling it, you are well on your way to living a more fulfilled life.

 

Buddhist Monks Happy Life Living Picture Quote Charlene Barry

6. Forget about what other people think

Society has a way of programming our egos. We are constantly aware of what other people might be thinking or saying about us.

Feeding the ego is by no means healthy and even though we think it results in happiness, we are greatly mistaken. Keeping your ego happy doesn’t mean that you are happy.

The Monks suggest that you detach from your ego, this is what will allow you to grow spiritually.

You need to focus on what you think and feel instead of those around you and when you are able to do this, you will be more in tune with your true self.

 

7. Fight the enemy within

Just as the answers reside within ourselves, so does our biggest enemy.

You might think your biggest enemy is your boss or the bully at school, but it’s not. You are the one that gives power to your fears and insecurities.

Before you can accomplish anything you need to tackle the enemy that empowers the elements keeping you from happiness. In other words, overcome your internal fears.

 

8. Happiness Starts from within

It will be cynical to assume that happiness is only based on the spiritual side of life.

Family and friends, music, books, hobbies, all of these form part of your journey. However, you cannot enjoy anything if you are not happy internally.

Once you reach happiness from within it will manifest outside in the people and things that make life worth living.

This is also why meditation is such a significant practice for Monks because it helps to cultivate peace from the inside out, and when you become more in touch with your true self, the happier you will feel.

 

9. Be present

We hear this one all of the time but really, stop and think about how present you are right in this moment.

Monks are so aware of being present in this moment as it is the only moment we can be sure of.

If we learn to do our best, act our best, feel our best and just be for this moment ONLY, then we will be able to live a much more fulfilled quality of life as Monks do.

Meditation is invaluable for anyone who is finding it difficult to practice staying present.

 

10. Know what is more valuable than material possessions

This is a HUGE one that we all know and have heard many times I am sure but living in the 21st century in a world dominated by media influences, it can be difficult to not get drawn in to material things.

Something I like to do is have a mini version of a vision board that keeps me grounded, either on my phone or at home (or both) . So, I guess you could call it a “grounding board” :)

You can fill this board with pictures of people less fortunate than yourself, children who have no food or clean water, animals that are being treated poorly, a picture of your grandparents, family, your favourite yoga balance, words that express feelings like love, compassion, family, friends – things that mean a lot to you.

ALL of these things I have listed above keep me grounded in times where I get carried away with material things and looking at a picture of my ‘grounding board’ helps to pull me back to what is really important in life.

 

Conclusion

It is natural to find happiness and fulfilment in the world outside, but it doesn’t mean you should neglect internal happiness.

Those who find peace inside their mind usually don’t care much for materialistic objects or public opinions. They are happy and fulfilled.

Nevertheless, everyone is different and by following the above-mentioned advice you can dramatically increase the happiness in your life.

 

( Orginal post is here : http://addicted2success.com/spirituality/10-tips-from-a-buddhist-monk-on-living-a-fulfilled-life )

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Books for Investors: A Short Shelf

Every book below has stood the test of time and, I’m confident, will remain useful for generations to come. You will quickly note that some aren’t even about investing. But they all will help teach you how to think more clearly, which is the only way to become a wiser and better investor. I’ve listed them alphabetically by author.

Gary Belsky and Thomas Gilovich, Why Smart People Make Big Money Mistakes and How to Correct Them

In clear, simple prose, Belsky and Gilovich explain some of the most common quirks that cause people to make foolish financial decisions. If you read this book, you should be able to recognize most of them in yourself and have a fighting chance of counteracting some of them. Otherwise, you will end up learning about your cognitive shortcomings the hard way: at the Wall Street campus of the School of Hard Knocks.

Peter L. Bernstein, Against the Gods: The Remarkable Story of Risk

The late polymath Peter Bernstein poured a long lifetime of erudition and insight into this intellectual history of risk, luck, probability and the problems of trying to forecast what the future holds. Combining a stupendous depth of research with some of the most elegant prose ever written about finance, Bernstein chronicles the halting human march toward a better understanding of risk—and reminds us that, after centuries of progress, we still have a long way to go.

John C. Bogle, Common Sense on Mutual Funds

The founder of the Vanguard Group and father of the index-fund industry methodically sorts fact from fiction. Following his logical arguments can benefit you even if you never invest in a mutual fund, since Bogle touches on just about every crucial aspect of investing, including taxes, trading costs, diversification, performance measurement and the power of patience.

Elroy Dimson, Paul Marsh and Mike Staunton, Triumph of the Optimists

Neither light reading nor cheap (it’s hard to find online for less than about $75), this book is the most thoughtful and objective analysis of the long-term returns on stocks, bonds, cash and inflation available anywhere, purged of the pom-pom waving and statistical biases that contaminate other books on the subject. The sober conclusion here: Stocks are likely, although not certain, to be the highest-performing asset over the long run. But if you overpay at the top of a bull market, your future returns on stocks will probably be poor.

Richard Feynman, Surely You’re Joking, Mr. Feynman! or What Do You Care What Other People Think?

These captivating oral histories of the great Nobel Prize-winning physicist ostensibly have nothing to do with investing. In my view, however, the three qualities an investor needs above all others are independence, skepticism and emotional self-control. Reading Feynman’s recollections of his career of intellectual discovery, you’ll see how hard he worked at honing his skepticism and learning to think for himself. You’ll also be inspired to try emulating him in your own way.

Benjamin Graham, The Intelligent Investor

Originally published in 1949, called by Warren Buffett “by far the best book on investing ever written,” this handbook covers far more than just how to determine how much a company’s stock is worth. Graham discusses how to allocate your capital across stocks and bonds, how to analyze mutual funds, how to take inflation into account, how to think wisely about risk and, especially, how to understand yourself as an investor. After all, as Graham wrote, “the investor’s chief problem—and even his worst enemy—is likely to be himself.” (Disclosure: I edited the 2003 revised edition and receive a royalty on its sales.) Advanced readers can move on to Benjamin Graham and David Dodd, Security Analysis, the much longer masterpiece upon which The Intelligent Investor is based.

Darrell Huff, How to Lie with Statistics

This puckish riff on how math can be manipulated is only 142 pages; most people could read it on a train ride or two, or in an afternoon at the beach. As light as the book is, however, it is nevertheless profound. In one short take after another, Huff picks apart the ways in which marketers use statistics, charts, graphics and other ways of presenting numbers to baffle and trick the public. The chapter “How to Talk Back to a Statistic” is a brilliant step-by-step guide to figuring out how someone is trying to deceive you with data.

Daniel Kahneman, Thinking, Fast and Slow

Successful investing isn’t about outsmarting the next guy, but rather about minimizing your own stupidity. Psychologist Daniel Kahneman, who shared the Nobel Prize in Economics in 2oo2, probably understands how the human mind works better than anyone else alive. This book can make you think more deeply about how you think than you ever thought possible. As Kahneman would be the first to say, that can’t inoculate you completely against your own flaws. But it can’t hurt, and it might well help. (Disclosure: I helped Kahneman research, write and edit the book, although I don’t earn any royalties from it.)

Charles P. Kindleberger, Manias, Panics, and Crashes

In this classic, first published in 1978, the late financial economist Charles Kindleberger looks back at the South Sea Bubble, Ponzi schemes, banking crises and other mass disturbances of purportedly efficient markets. He explores the common features of market disruptions as they build and burst. If you remember nothing from the book other than Kindleberger’s quip, “There is nothing so disturbing to one’s well-being and judgment as to see a friend get rich,” you are ahead of the game.

Roger Lowenstein, Buffett: The Making of an American Capitalist

This book remains the most comprehensive and illuminating study of Warren Buffett’s investing and analytical methods, covering his career in remarkable detail up until the mid-1990s. If you read it in conjunction with Alice Schroeder’s The Snowball, you will have a fuller grasp on what makes the world’s greatest investor tick.

Burton G. Malkiel, A Random Walk Down Wall Street

In this encyclopedic and lively book, Malkiel, a finance professor at Princeton University, bases his judgments on rigorous and objective analysis of long-term data. The first edition, published in 1973, is widely credited with helping foster the adoption of index funds. The latest edition casts a skeptical eye on technical analysis, “smart beta” and other market fashions.

Bertrand Russell, Sceptical Essays or The Scientific Outlook

Russell is Buffett’s favorite philosopher, and these short essay collections show why. Russell wrote beautifully and thought with crystalline clarity. Immersing yourself in his ideas will sharpen your own skepticism. My favorite passage: “When a man tells you that he knows the exact truth about anything, you are safe in inferring that he is an inexact man…. It is an odd fact that subjective certainty is inversely proportional to objective certainty. The less reason a man has to suppose himself in the right, the more vehemently he asserts that there is no doubt whatever that he is exactly right.” Think about that the next time a financial adviser begins a sentence with the words “Studies have proven that….”

Alice Schroeder, The Snowball: Warren Buffett and the Business of Life

With unprecedented access to Buffett, Schroeder crafted a sensitive, personal and insightful profile, focusing even more on him as a person than as an investor—and detailing the remarkable sacrifices he made along the way. If you read it alongside Lowenstein’s Buffett, you will have an even deeper understanding of the master.

Fred Schwed, Where Are the Customers’ Yachts? 

First published in 1940, this is the funniest book ever written about investing—and one of the wisest. Schwed, a veteran of Wall Street who survived the Crash of 1929, knew exactly how the markets worked back then. Nothing has changed. Turning to any page at random, you will find gleefully sarcastic observations that ring at least as true today as they did three-quarters of a century ago. My favorite: “At the end of the day [fund managers] take all the money and throw it up in the air. Everything that sticks to the ceiling belongs to the clients.”

“Adam Smith,” The Money Game

In the late 1960s, the stock market was dominated by fast-talking, fast-trading young whizzes. The former money manager George J.W. Goodman, who wrote under the pen name “Adam Smith,” christened them “gunslingers.” In this marvelously entertaining book, Goodman skewers the pretensions, guesswork and sheer hogwash of professional money management. Reading his mockery can help sharpen your own skepticism toward the next great new investing idea—which almost certainly will turn out to be neither great nor new.

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Spotify was growing very fast, but wasn’t making any money.

Spotify says it has 12.5 million paying subscribers. If you do some very simple math, you can guesstimate that the company is going to end up doing more than a billion dollars in revenue this year.

Another reason you can feel comfortable guessing that: A year ago, when the music streaming service was smaller, it had already hit the $1 billion mark.*

That number comes courtesy of a new filing Spotify made today in Luxembourg, which spells out its 2013 financials in considerable detail. That doesn’t tell us how the company did this year, of course. But it’s very helpful to get a sense of direction.

Big picture: As of last year, Spotify was growing very fast, but wasn’t making any money. The good news is that the company’s top line was growing faster than its losses, which is one of the reasons it could raise money at a $4 billion valuation a year ago. And it suggests that CEO Daniel Ek’s argument — that the company could indeed be profitable if it didn’t plow more money into growth — might hold up.

Here’s a snapshot of the company’s P&L from last year. Note that revenues were up more than 70 percent, while its operating loss grew by less than 20 percent.

http://recode.net/2014/11/25/spotify-is-a-booming-billion-dollar-business/

 

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BIG MARKET NEWS WEEK 24 NOV – 28 NOV 2014

Germany Monday, Nov.24, 2014 09:00
EUR IFO – Business Climate (Nov)
Japan Tuesday, Nov. 25, 2014 01:00
JPY  Bank of Japan Governor Kuroda Speech
Canada Tuesday, Nov. 25, 2014 13:30
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United States Tuesday, Nov. 25, 2014 13:30
USD  Gross Domestic Product Annualized (Q3)Preliminar
United States Tuesday, Nov. 25, 2014 15:00
USD Consumer Confidence (Sep)
United Kingdom Wednesday, Nov. 26, 2014 09:30
GBP Gross Domestic Product (YoY) (Q3)Preliminar
United States Wednesday, Nov. 26, 2014 13:30
USD Durable Goods Orders (Oct)
United States Wednesday, Nov. 26, 2014 13:30
USD Initial Jobless Claims (Nov 21)
United States Wednesday, Nov. 26, 2014 15:00
USD New Home Sales (MoM) (Oct)
New Zealand Wednesday, Nov. 26, 2014 21:45
NZD Trade Balance (YoY) (Oct)
Australia Thursday, Nov. 27, 2014 00:30
AUD Private Capital Expenditure (Q3)
Germany Thursday, Nov. 27, 2014 08:55
EUR Unemployment Change (Nov)
Germany Thursday, Nov. 27, 2014 08:55
EUR Unemployment Rate s.a. (Nov)
Germany Thursday, Nov. 27, 2014 13:00
EUR Consumer Price Index (YoY) (Nov)Preliminar
Germany Thursday, Nov. 27, 2014 13:00
EUR Harmonised Index of Consumer Prices (YoY) (Nov)Preliminar
Japan Thursday, Nov. 27, 2014 23:30
JPY National Consumer Price Index (YoY) (Oct)
New Zealand Friday, Nov. 28, 2014 00:00
NZD ANZ Business Confidence (Nov)
European Monetary Union Friday, Nov. 28, 2014 10:00
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European Monetary Union Friday, Nov. 28, 2014 10:00
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Canada Friday, Nov. 28, 2014 13:30
CAD Gross Domestic Product Annualized (QoQ) (Q3)

 

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THE MOST IMPORTANT ELECTION YOU HAVEN’T HEARD OF

In less than three weeks, the most important election of the year will take place in Switzerland, and you haven’t heard of it. While the U.S. focuses on the recent Republican victory, the financial markets are facing an earth-shaking event on November 30th.

This Swiss election seeks to challenge the paper currency (Fiat/Debt) system of the last forty years and possibly undermine the existing power structures of central banks across the globe by introducing the “Save Our Swiss Gold” initiative.

U.S. elections sway back and forth between Republicans and Democrats, but the monetary system never changes nor is ever up for any real debate. The monetary system of the whole world has been firmly in the hands of Keynesians’ ever since Nixon removed the convertibility of dollars and abandoned the Bretton Woods Agreement back in 1971. A positive Swiss vote would threaten this by once again providing the world with a choice between a hard (gold-backed) currency and fiat.

Up until recently, it was the Swiss who were the last holdouts against the Keynesian school of thought. Traditionally viewed as the last bastion of sensible monetary restraint, the Swiss succumbed to the siren call of “actively managed central banking” in September 2011, fixing their currency to the Euro under mounting European pressure.

Somehow, having what the world views as the strongest currency is a bad thing when everyone else is printing like crazy. It wasn’t so much the success of the Swiss currency during this Depression 2.0 but the failure of the rest of the world to restrain itself that lead to its appreciation.

Central bankers hate gold, or any hard currency restraint, because it limits their ability to tinker with the system (see FDR executive order 6102). On November 30th, Swiss voters will go to the polls to reassert their historical position of backing their country’s currency with gold, and possibly setting off a new revolution across the financial world by giving people a real choice.

Backed once again by physical gold, the Swiss public may be the first to finally say “enough” to the ongoing manipulation of the currency markets. No longer would governments be able to create limitless amounts of debt-backed currency without recourse. In response to the constant worldwide manipulations, Russia and China have been aggressively increasing their gold reserves over the last decade. Just recently, even ISIS decided that this is a smart choice as well.

This is a pinnacle moment in monetary history, not only for the Swiss who are reasserting their financial independence, but also for the whole world. What started as a referendum to return a tiny country of 8 million, with a GDP equal to New Jersey, to some semblance of financial sanity, may actually become the wake up call to the world to end the Keynesian delusion that the cure for everything is more debt. Cue the fat lady and the flying pigs.

http://www.breitbart.com/Big-Peace/2014/11/15/The-Most-Important-Election-You-Havent-Heard-Of

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BIG MARKET NEWS WEEK 17 NOV – 22 NOV 2014

 Japan Sunday, Nov. 16, 2014 23:50
JPY   Gross Domestic Product (QoQ) (Q3)Preliminar
European Monetary Union Monday, Nov. 17, 2014 14:00
EUR ECB President Draghi’s Speech
Australia Tuesday, Nov. 18, 2014 00:30
AUD RBA Meeting’s Minutes
Australia Tuesday, Nov. 18, 2014 08:25
AUD RBA’s Governor Glenn Stevens Speech
United Kingdom Tuesday, Nov. 18, 2014 09:30
GBP Core Consumer Price Index (YoY) (Oct)
United Kingdom Tuesday, Nov. 18, 2014 09:30
GBP Consumer Price Index (YoY) (Oct)
Germany Tuesday, Nov. 18, 2014 10:00
EUR   ZEW Survey – Economic Sentiment (Nov)
United States Tuesday, Nov. 18, 2014 13:30
USD Producer Price Index (MoM) (Oct)
Japan Wednesday, Nov. 19, 2014 n/a
JPY BoJ Interest Rate Decision
Japan Wednesday, Nov. 19, 2014 n/a
JPY BoJ Monetary Policy Statement
Japan Wednesday, Nov. 19, 2014 n/a
JPY BoJ Press Conference
United Kingdom Wednesday, Nov. 19, 2014 09:30
GBP BOE MPC Vote Cut
United Kingdom Wednesday, Nov. 19, 2014 09:30
GBP BOE MPC Vote Hike
United Kingdom Wednesday, Nov. 19, 2014 09:30
GBP BOE MPC Vote Unchanged
United States Wednesday, Nov. 19, 2014 13:30
USD Building Permits (MoM) (Oct)
United States Wednesday, Nov. 19, 2014 19:00
USD FOMC Minutes
China Thursday, Nov. 20, 2014 01:45
CNY HSBC Manufacturing PMI (Nov)Preliminar
France Thursday, Nov. 20, 2014 08:00
EUR   Markit Manufacturing PMI (Nov)Preliminar
Germany Thursday, Nov. 20, 2014 08:55
EUR   Markit Manufacturing PMI (Nov)Preliminar
United Kingdom Thursday, Nov. 20, 2014 09:30
GBP Retail Sales (MoM) (Oct)
Canada Thursday, Nov. 20, 2014 13:30
CAD Wholesale Sales (MoM) (Sep)
United States Thursday, Nov. 20, 2014 13:30
USD Consumer Price Index (YoY) (Oct)
United States Thursday, Nov. 20, 2014 13:30
USD Consumer Price Index Ex Food & Energy (YoY) (Oct)
United States Thursday, Nov. 20, 2014 13:30
USD Initial Jobless Claims (Nov 15)
United States Thursday, Nov. 20, 2014 15:00
USD  Philadelphia Fed Manufacturing Survey (Nov)
European Monetary Union Friday, Nov. 21, 2014 08:00
EUR ECB President Draghi’s Speech
Canada Friday, Nov. 21, 2014 13:30
CAD Bank of Canada Consumer Price Index Core (YoY) (Oct)
Canada Friday, Nov. 21, 2014 13:30
CAD Consumer Price Index (YoY) (Oct)

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Glory To The New Bond King

Bill Gross’ spectacular fall from the top of the bond market has put tens of billions in play at a time when minuscule yields demand a fixed-income superstar. A brilliant, battle-scarred billionaire, Jeffrey Gundlach, stands ready to be coronated.

Bond manager Jeffrey Gundlach is wearing a white T-shirt, faded blue jeans and worn leather boat shoes as he traipses about the blooming morning glories in his perfectly landscaped backyard, perched high above a canyon overlooking the deep blue Pacific Ocean. It’s the middle of the afternoon on a work Monday in October; European bank stocks are tumbling; oil prices are down 25% since June; and against the backdrop of an anemic economy and 2.25% ten-year Treasury, the Federal Open Market Committee is about to make an important announcement. These are unsettling times in the financial markets, but for Gundlach it’s a picture-perfect autumn day in southern California, and he is living in paradise.

What’s next for the Fed? Gundlach would much rather discuss the iconic framed “Lemon Marilyn,” by Andy Warhol, above his mantel or how his “Progressions,” by minimalist Donald Judd, in the hallway is influenced by the Fibonacci sequence. “It is negative and positive space governed by a rule that happens to describe the shape of the solar system, which is exactly the opposite of what was popular in the ’50s, all this emotional stuff,” he says, pointing to his de Kooning. A few moments later he is explaining to a visitor that the geometry of the lot on which his new 13,000-square-foot, $16 million Tuscan mansion sits was designed to be in perfect harmony with the canyon cliff side it mirrors.

It is a paradise, but importantly Gundlach is finally feeling at ease because his new sanctuary is well fortified. Anyone wanting to get close to him or his prize paintings must breach the 8-foot wall surrounding his suburban residence or face the scrutiny of an armed naval vet at his front gate who asks visitors for a picture ID. Gundlach makes a point to show off one of the 50 concrete foundation caissons supporting his property. Each measures 3 feet in diameter and extends down as much as 75 feet through the porous desert soil into California bedrock.
After 30 years of staring into the black-and-green abyss of a Bloomberg terminal managing bond portfolios, Gundlach is making a statement with his magnificent new residence, one that underscores his ascendance in the business. Casa Gundlach is unlikely to succumb to the sudden mudslides known to take down other California palaces in places like Mill Valley or Malibu. And with a stellar performance record, $60 billion in assets under management and a killer contemporary art collection accumulated over the last decade, Jeffrey Gundlach has finally joined the billionaires club. More importantly, Los Angeles-based DoubleLine Capital, the house that Gundlach built in under five years, couldn’t be on better footing.

Just about a month earlier Bill Gross of Pacific Investment Management Co., the reigning master of the bond universe for two decades, requested an audience with Gundlach. In a scene that can only be described as Shakespearean, the incumbent bond king drove an hour up the 405 Freeway in the middle of the afternoon to Gundlach’s new castle to more or less grovel at his feet. Gross was certain PIMCO’s German owners were about to fire him, and he was asking his nemesis for a job–a portfolio manager position at DoubleLine. Gross said he wanted to run an “unconstrained” bond fund a small fraction of the size of the $200 billion-plus Total Return Fund he was famous for building. With the sun falling over the Pacific and shimmering on the surface of Gundlach’s infinity pool, Gross was deep in suck-up mode.

“He said to me, ‘I’m Kobe Bryant, you’re LeBron James. I’ve got five rings, you’ve got two, but you are maybe on your way to five and you’ve got time,’ ” says Gundlach, 55. (Gross, 70, refuses to comment on the meeting.) “ Bill was in his own world,” says a house-proud Gundlach, with a tone of disdain. “He doesn’t say anything [about my place]. Nothing. Doesn’t eat anything or even take a sip of water in three hours.”

Gross left the meeting with no deal in hand and ultimately jumped to Denver-based stock manager Janus Capital. From his office in Orange County’s Newport Beach, Gross now manages a $79 million mutual fund for Janus, roughly 0.03% the amount of assets he used to control.
Though a Gundlach-Gross alliance would have surely quickened the asset flight to DoubleLine from PIMCO–which has reported redemptions of $48 billion since Gross was forced to resign on Sept. 26–Gundlach claims to be relieved. “Our clients would have asked, ‘What is this? How is this going to work?’ I hear he is a difficult guy.”

http://www.forbes.com/sites/schifrin/2014/11/05/jeffrey-gundlach-king-me/

 

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28 Important Philosophers List the Books That Influenced Them Most During Their College Days

The web site Demasiado Aire recently asked “some of the world’s most important philosophers which three books influenced them the most while undergraduate students.” And, from what we can tell, they got a good response. 28 influential philosophers dutifully jotted their lists, and, for at least the past day, Demasiado Aire has been offline, seemingly overwhelmed by traffic. Thanks to Google’s web caching technology, we can recover these lists and provide you with a few highlights. (Note: The original post is here.) We have added links to the texts cited by the philosophers. The free texts have an asterisk (*) next to them.

Charles Taylor (McGill University):

Phénoménologie de la Perception, Maurice Merleau-Ponty

The Brothers Karamazov*, Fyodor Dostoevsky

Jalons pour une théologie du Laïcat, Yves Congar

Daniel Dennett (Tufts University):

“That’s easy:

Word and Object, Quine.

The concept of mind*, Gilbert Ryle

Philosophical Investigations, Ludwig Wittgenstein

“I got to study with Quine and Ryle, but Wittgenstein had died before I encountered his work”.

Alexander Nehamas (Princeton University):

Apology of Socrates*, Plato

Nicomachean Ethics*, Aristotle

Ethics*, Spinoza

“Also, I should point out that Nietzsche’s On the Genealogy of Morality* had a huge effect on me when I was a graduate student and had a formative influence on my philosophical development”.

David Chalmers (Australian National University):

“I was an undergraduate student in mathematics rather than philosophy, but the answer is”:

Gödel, Escher Bach, Douglas Hofstadter

The Mind’s I, Douglas Hofstadter & Daniel Dennett

Reasons and Persons, Derek Parfit

You can view lists by other philosophers, including Alain de Botton, Wendy Brown, Peter Millican, and more here: live pagecached page.

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BIG MARKET NEWS WEEK 10 NOV – 14 NOV 2014

 

China Monday, Nov.10, 2014 02:30
CNY Consumer Price Index (YoY) (Oct)
China Monday, Nov.10, 2014 02:30
CNY Consumer Price Index (MoM) (Oct)
China Monday, Nov.10, 2014 n/a
CNY New Loans (Oct)
Australia Tuesday, Nov.11, 2014 01:30
AUD  National Australia Bank’s Business Confidence (Oct)
New Zealand Tuesday, Nov.11, 2014 21:05
NZD RBNZ Governor Wheeler Speech
New Zealand Tuesday, Nov.11, 2014 21:00
NZD RBNZ Financial Stability Report
United Kingdom Wednesday, Nov.12, 2014 10:30
GBP Claimant Count Change (Oct)
United Kingdom Wednesday, Nov.12, 2014 10:30
GBP Average Earnings including Bonus (3Mo/Yr) (Sep)
United Kingdom Wednesday, Nov.12, 2014 11:30
GBP Bank of England Quarterly Inflation Report
China Thursday, Nov.13, 2014 06:30
CNY Industrial Production (YoY) (Oct)
United States Thursday, Nov.13, 2014 14:30
USD Initial Jobless Claims (Nov 8)
France Friday, Nov.14, 2014 07:30
EUR Gross Domestic Product (QoQ) (Q3)Preliminar
Germany Friday, Nov.14, 2014 08:00
EUR Gross Domestic Product w.d.a (YoY) (Q3)Preliminar
Germany Friday, Nov.14, 2014 08:00
EUR Gross Domestic Product s.a (QoQ) (Q3)Preliminar
European Monetary Union Friday, Nov.14, 2014 11:00
EUR Gross Domestic Product s.a. (YoY) (Q3)Preliminar
United States Friday, Nov.14, 2014 14:30
USD Retail Sales (MoM) (Oct)
Canada Friday, Nov.14, 2014 14:30
CAD Manufacturing Shipments (MoM) (Sep)
United States Friday, Nov.14, 2014 14:30
USD Retail Sales ex Autos (MoM) (Oct)
United States Friday, Nov.14, 2014 15:55
USD Reuters/Michigan Consumer Sentiment Index (Nov)Preliminar

 

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