Woah! Shock and awe. We’ve woken up to a gleaming new blog. It’s almost as much of a surprise to me as it is to you; the IT department works in mysterious ways. Aside from being prettier now, the blog is on a faster server and a number of technical problems are fixed. If you notice any gremlins: things not being where you expect, say, or you’re not receiving posts by RSS, anything, please let me know at [email protected]. Regular blogging will resume when I’ve found my way around.
It’s here! In the UK! Bad news for US investors. According to Robert Shiller’s cyclically adjusted PE (CAPE) stock market prices are back in the most expensive quintile. US stocks are nowhere near as expensive as they were in 2000, say, but for more than 80% of stock market history since 1881 they’ve been lower [click for a larger, sharper chart]:
Smiling all the way to the bankKarl Rabeder is happy, he’s giving away his £3m fortune and plans to have nothing left. His conviction: I had the feeling I was working as a slave for things that I did not wish for or need.
Did you see Million Dollar Traders? It’s the BBC’s share trading version of The Apprentice, which started last night on BBC 2 at 9.00pm, and continues for another two shows. It’s also on the rather brilliant iPlayer for the next twenty days.
Hedge fund manager Lex van Dam funds eight novices, including (from memory) an environmentalist, a retired IT consultant, a vet, a student and an ex-army Major.