If there’s one thing that clients of money managers can’t stand, it’s showing a loss at year’s end. And if there’s one thing that money managers can’t stand, it’s losing clients. But with the major equities markets going absolutely nowhere in 2018 so far – or worse yet, showing a loss – a Santa Claus rally isn’t just optional anymore; it’s mission critical at this point.
If consumerism were an Olympic sport, America would have more gold medals than Mark Spitz and Michael Phelps put together. But, as in numerous other areas of finance, China is threatening to unseat America’s dominant position in a world that’s changing rapidly and shaking up multi-generational assumptions.
Chinese President Xi Jinping’s top economic aide, Vice-Premier Liu He, met for the 10th time in 2 months on Saturday with China’s version of a “plunge protection team.”