“The Prophet took down idols with his bare hands when he went into Mecca,” said the militant, destroying a statue of the ancient Assyrian deity of protection, ignorant of the irony. Because the only thing more dangerous to a jolly band of Jihadis than letting a Buddha statue stand, is knocking one down. And besides, anyone confident in his own faith should quite naturally find no insult in the faith of another. “NEIN

I handed our three youngest kiddies gigantic Toblerone bars. They cheered, hooted. Jackson’s eyes remained closed, waiting. Into his hands I placed a book, on top of which was the photograph of a 13yr old girl, with a beautiful smile, sparkling eyes. “Who is she?” he asked. “Anne Frank,” I replied, “She wrote that when she was your age, it was her diary.” In Amsterdam I’d toured the attic where she spent two years wi

Hope all goes well… “I couldn’t have imagined this could happen,” said the investor, sitting in Amsterdam. “What neighbors would do to one another,” he continued, having fled Sarajevo in early 1992. “The French are socialists, with a bad economy, this breeds the resentment, it creates the conditions,” said the Dutch businessman. “The Germans have a strong economy, they need workers, and so it works, so it goes,” he c

“My first six months were agony,” he said. “Nothing worked, no matter how hard I tried.” We sat in London, relaxed, reflecting, in a magnificent meeting room, dressed in fine art, disguising the true nature of this wonderfully horrible business. Because trading-floor walls are filthy, stained from risk-takers throwing crap, hoping something sticks. “Worried I’d get sacked,” continued the portfolio manager, now amongs

Obama’s Treasury Secretary spoke all day. And felt no one understood him. Because Jack’s mother tongue is English, the language of business; but more precisely, Lew spoke American, with a New York accent – the dialect of money. Sapin spoke the language of love. Of course, there’s no more beautiful tongue, but those who speak French have grown tone deaf to American, bitter that it’s not love, but money, that mak

Hope all goes well… “People were looking for multiple expansion,” said Yoda, high in the Rockies. “But who expected it would happen with prices at all-time highs, while earnings forecasts fall?” asked the market’s biggest S&P local. “6wks ago the S&P had 35-point ranges, now they’re 11-points,” he said. “Have sellers surrendered?” Then Yoda paused. “This is the 6th year of the bull market, what does that tell

Hope all goes well… Amsterdam. Geneva. Next stop London. And squeezed in between, high altitude. Solitude. A late night walk through the forest. Mont Blanc aglow, reflecting. Recollecting. And recalled an anecdote from my year here. Argentiere. (see below) Back next Sunday, with full wknd notes. Week-in-Review: Mon: China trade surplus record $60bln (imports -19.9% yoy, exports -3.3%), Japan CA surplus Y187bln (trade

Week-in-Review: Mon: China trade surplus record $60bln (imports -19.9% yoy, exports -3.3%), Japan CA surplus Y187bln (trade deficit –Y396bln), UAE/Jordan announce joint ISIS airstrikes, Abbot survives no-confidence vote, Greece’s Tsipras refuses bailout extension, Merkel/Obama meeting (disagree over arming Ukraine), Obama “Won’t extend Iran nuclear deal deadline,” S&P -0.4%; Tue: China CPI 5yr low +0.8% yoy (PPI

Hope all goes well… “You can make money being long or short,” said Road Runner, the market’s top volatility trader. “You just can’t fall in love with a position.” Late Wed, the S&P slipped 20-points on Greece. Then jumped 20 on Thurs. Friday it rallied on a great jobs number but closed lower. “Equity vol prices tell you people remain nervous.” On down-days there’s no scramble for puts. “The oil pop was a bear mar

“We want as little market distortion as possible,” announced the French central banker, a career contortionist. You see, in early March the ECB will create money from the ether, buying bonds, and continue until inflation magically rises to 2%. One-third of Europe’s sovereign debt already trades at negative yields. Because ECB deposit rates are -0.20%. Denmark announced the globe’s 542nd rate cut since Dick fulded Leh