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And we’re off, into 2025. Before we get too far, it’s time to take stock (pardon the pun) of 2024. I’ll follow the 7 point approach I’ve used for the last few years, starting with the wider market context. Q1 How did markets do? December saw falls across most asset classes – arguably reverting to… Continue reading Dec ’24 – 2024 in review →
London life I’ve been keeping busy as winter in London sets in. The Christmas lights are all out and looking resplendent, and both the West End and the City are feeling pretty buzzy. For all the general ‘UK stuck in the weeds’ economic commentary, we feel a long way from any talk of recession. A… Continue reading Nov ’24: 3x →
I haven’t seen much of London in October. I’ve been away every weekend in October, partly in the UK and partly visiting friends overseas. And now we’re in November, the clocks have gone back, but temperatures haven’t plummeted yet. London feels busy – pubs still have crowds outside. Finally, the UK’s first Labour budget for… Continue reading Oct ’24: Budgets & broad shoulders →
Supposedly Albert Einstein called compounding the 8th wonder of the world. Certainly the wonder of compound annual growth rates is something I feel quite viscerally, the more so with each month that I track my portfolio. But I’ve been struck recently by a radical improvement in my portfolio’s dividend income, far in excess of the… Continue reading Compounding, type II →
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Plus! Third-Order Consequences; A Sovereign Wealth Fund; Artificial Celebrities; Don't Call It Sports Betting; Retaliatory Tariffs
From the BLS: Job Openings and Labor Turnover Summary The number of job openings decreased to 7.6 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and total separations were little changed at 5.5 million and 5.3 million, respectively. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little. emphasis added This report is for December; the employment report this Friday will be for January. Click on graph for larger image. The number of job openings (black) were down 15% year-over-year. Quits were down 7% year-over-year. These are voluntary separations. (See light blue columns at bottom of graph for trend for "quits").
For years, platforms like TikTok, Instagram Reels, and YouTube Shorts have dominated the short-form video space.
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rates Increased in December Freddie Mac reported that the Single-Family serious delinquency rate in December was 0.59%, up from 0.56% November. Freddie's rate is up year-over-year from 0.55% in December 2023, however, this is below the pre-pandemic level of 0.60%. Fannie Mae reported that the Single-Family serious delinquency rate in December was 0.56%, up from 0.53% in November. The serious delinquency rate is up year-over-year from 0.55% in December 2023, however, this is below the pre-pandemic lows of 0.65%. There is much more in the article.
