In last weekend’s NRC Handelsblad, a long interview with the German author and historian Philipp Blom was published. His most recent book is entitled Die Welt aus den Angeln (The world off the hinges) and focuses on the Little Ice Age (1570-1700 AD). A temperature drop of one to two degrees centigrade had an enormous impact on the economies of Europe. In that period, the Netherlands transformed from a predominately agricultural country to a trade nation. The low countries saw their golden age. Capitalistic markets as we still know them were developed and the first share was introduced in Amsterdam. Today, we see ourselves confronted with a change in the climate to which we have to adapt ourselves. The example of what happened to the Netherlands during the previous major climate change can be a considered a beckoning perspective.
US stocks closed higher on Monday, with both the Dow and the S&P 500 ending at new records. Technology shares rebounded from a recent sell-off. The Dow rose 0.68%, the S&P 500 gained 0.83% and the NASDAQ recorded almost the totaled gain of the Dow and S&P 500: +1.42%. Volatility showed a mixed picture: the VIX barely moved (-0.10%). UVXY ETFs nosedived: -6.33%. XIV ETNs closed almost 3% higher.
Danny Daredevil sold his UVXY ETFs at the beginning of the session and recorded a loss on that sell that was only partly compensated by the rise of the value of the XIV ETNs he purchased. His RSS dropped to 347%. Adventurous Anny bought XIV ETNs at the beginning of yesterday’s trading day and recorded a small gain. Her RSS rose to 41%. Solid Suzy and Lazy Larry had a good day: their RSS rose to 27%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
As an organizer of a song festival for primary schools, Tim went to an event which brings together primary school teachers and producers of cultural programs. The event was concluded by a performance of a dance company called plan d-. Five dancers performed IJspaleis (Ice palace), a magical adventure in a cold world full of icebergs, penguins and polar bears. The performance is aimed at children from the age of five and up, but it was so imaginative that it was able to fascinate some 250 adults for more than an hour. IJspaleis does not feature spoken words (except for some utterances in Penguinesian), so it could be staged in any country in the world. Something which would be well-deserved for such a wonderful performance.