Our weekly feature Friday in pictures which looks at a random, yet interesting, set of graphs, tables and pictures.
Hedge fund underperformance is not a new topic. We have argued that comparing the returns of HFs to that of the S&P is an apples-to-oranges comparison. The following chart shows a great source of the underperformance. The Goldman Sach largest short index is outperforming near everything.
There is a slight assymetric return towards misses over beats.
Meanwhile, the chance of beating has modestly increased as guidance has been lowered.
But not abnormally so.
The Summer of 2013 tracked more positively than 2011 or 2012 in terms of positive economic surprise. Will the fourth quarter be the same?
Expectations for the third quarter grew more rosey.
How’s the economy? The retailers are ok with it.
Although consumer and real estate loans are off their 2007 levels (as they should be), Commercial and Industrial are back on track.
Overall, Even if bullishness isn’t rampant, being bearish is out of style.
Weekly inflows to equities continues. Interestingly, much of the flow has come from institutions rather than retail.
Leading a number of U.S. indicies to new highs.
Current expectations range, but generally look for improving GDP and lower deficits.
QE can’t live forever (and can it?). When will its impact run out?
Are investors preparing for the taper’s effect by loading up on defensive names? Emperical Research says those stocks have gotten less safe.
My Red Sox are in the World Series. Few things make me happier. Yesterday’s loss puts a damper on my excitement for sure. However, no matter the eventual outcome, I could watch this GIF all day long and laugh at Wainwright’s expression each and every time.
