Today, it is exactly one hundred years ago that the Republic of Finland was established. In those days, the country made use of the chaos that was the result of the Russian revolution and saw a long-cherished desire fulfilled. The country has experienced a remarkable development during that period. Its educational system is regarded the best one in the world. Finland’s economy has gone through both extreme highs and extreme lows. Technology company Nokia used to be the flagship of Finland’s innovative and entrepreneurial character. Once it held the position in mobile phones which is now in the hands of Apple. The economic crisis of 2008/2009 meant a major setback for Finland, which economy is nowadays still very much reliant on the success of its high-tech manufacturing companies.
And, of course, Finland is the birth country of Linus Torvalds, the creator of Linux. This operating system brings so many strengths of Finland to the table: it is innovative, idiosyncratic and quietly working on its success.
Happy birthday, paljon kiitoksia, Finland!
The major US indices started the day in a good mood, but closed in the red. Investors are not yet ready for the so-called Santa Claus rally. The S&P 500 (-0.4%) and the NASDAQ (-0.2%) lost ground for a third straight day. The Dow also closed with a loss: -0.5%. XIV ETNs made a small gain for the day, but were negative intraday. UVXY ETFs lost 0.9% for the day, but recovered from a much worse start.
Danny Daredevil and Adventurous Anny recorded a small loss yesterday. Danny sold UVXY ETFs with a loss and suffered an intraday loss with XIV ETNs. His RSS dropped to 12%. Anny suffered a small intraday loss. Her RSS closed just below 15%. Solid Suzy and Lazy Larry recorded a small gain with their XIV ETNs. Their RSS closed above 74%.
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
‘Flyin’ high’ with Finnair.
Picture taken in May.
The mountains in the picture are located near Neryungri in the Sakha Republic, Russia.