Quote of the Day:
What has The Fed got against the pricing mechanism? It’s gotten this country a long way over 200 years…
James Grant
Macro Overview
Jim Grant’s Alternative
- I’m away on business in Hong Kong over the next few days so, continuing on the Maverick Austrian theme I just want to leave you with a couple of video clips of Jim Grant. First one is on CNBC (from which the quote above is derived… here). I like the bit where Maria Bartiromo asks Jim: “what is the alternative?”… so which he immediately retorts: “Capitalism is an alternative to what we have now! I highly recommend it…”
- Here is the second clip of Jim Grant on Bloomberg.
Market Overview
Darlings Of Europe
- I’m not going to say much, I’m just going to show you the chart. ASML is a European maker of semiconductor manufacturing equipment. Companies like this have products where a large part of the value is in the intellectual capital which is contributed by a highly educated European work force – they are relatively pretty well insulated from the Euro crisis.
- I’m not going to say much, I’m just going to show you the chart. SAP is a European software giant. Companies like this have products where a large part of the value is in the intellectual capital which is contributed by a highly educated European work force – they are relatively insulated from the Euro crisis.
Chart of the Day
ASML (Source: Bloomberg)
SAP (Source: Bloomberg)
Events
Macro Events:
Update:
- Nothing Significant
Alerts:
- Nothing Significant
Corporate Events:
Results:
- Nothing Significant
Dividends:
- Nothing Significant
Reading, Links:
Nothing Significant
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Tags: ASML [ASML NA], Austrian Economics, Economy, Jim Grant, Macroeconomic News, Monetary Policy, Politics, QE, SAP [SAP GR], The Fed, TIPSTER
Michael Kudrna
