Rigging of markets rolls on, pushing risk to the side Global market fascination comes with a poetic mix of pleasure and pain. Yesterday was a difficult day for our portfolio, down over 1%, as we are positioned in line with our bleak outlook for the global economy and hedging the risks of downside to growth and inflation. But yesterday I was sideswiped by the market. Just a day after the concerning Chinese growth data, they supposedly pump in $81 billion in to their largest banks to ensure that downside risk is the last of anyones worries as more paper money gets taped over the holes in the economic bucket. Is $81 billion a big number? Is it standard type central bank liquidity injection, or is there a bigger concern at play? (VIEW LINK)


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James Marlay

Sounds like a tough day Dan - Pretty sure every investor will have similar stories from some point in time. The China stimulus injection does seem a little short sighted but they do have a stated growth target of 7.5%, they need to get there somehow...