The problem with socialism is that you eventually run out of other peoples’ money.” – Margaret Thatcher 1925-2013
Monthly management comment Macro & Politics: “ Central banks are in control ” Recent macro-figures such as market confidence, ISM manufactural, job creations are all showing a stronger and swifter than expected rebound in the US and in Europe. Latest Chinese figures are also very encouraging. In today’s world focusing only on the good news and ignoring whatever could spoil our comfortable certainties, they are contributing to the general “feel good” mood. Breaking the Hong Kong democracy is apparently irrelevant…