But it turns out that may not be the case. In the big banks launch a earnings season with a bang. Jp morgan reports of most profitable year ever for any u. S. Lender. News from south korea, were the jobless numbers for the month of december. Writings coming in at 3. 8 , which is higher than estimated and higher than the previous month of november. The jobless rate has been creeping up since the month of august and now we are seeing it shoot up to 3. 8 . Although it is worth mentioning that the economy still added 516,000 jobs in december, which is 200,000 more than in the month of november. Conflicting signals right there, but we have seen the government has tried to create jobs, they have tried to support the economy, but we continue to see declines in the manufacturing and retail sectors. Now the jobless rate coming in at higher than expected 3. 8 . Austrian markets have now open for trade. Lets turn to sophie for what to watch. Sydney a flat open in after a fresh record on tuesday.
E if there was such thing as an efficient market then either george soros or Warren Buffett could compound money at 20 percent for 20 or 30 years because i would be impossible if markets were efficient and all information was known in the price reflected all that information so clearly markets are not if not efficient and this idea of reflexivity its a bit of a Quantum Mechanics entering into the finance space you know this like schrodingers cat as a Quantum Hedge Fund operator. And thats very. Scientific in that way but it nevertheless it does have a huge impact and i do think that we are seeing that in markets today people are looking at stock markets and assuming you know they hated the dow jones when it was at 9500 you know 1011 years ago after the 2008 financial crisis remember it was too high of 9500 its going to go to 3000 well here we are near 29000 and people are saying well its going to go to 50000 and they love it at this price because as somebody famously wrote in a. Book p
Nearly every major Global Market and asset class saw positive returns in 2019. The big question, what can you expect for the money heading into the new year . Its time to break out the 2020 playbook guy adami, what do you have for us first of all, courtney in all the years weve been doing the show this is the first time you hoeft. On behalf of all of us i wish amazing to have you. Great to have you. Thank you, thank you. New kid on the block here. Its fantastic to have you. In terms of whats working next year listen ive been wrong for months in terms of market direction. But right about a few things i think hsh is absolutely toing well in the first half the upcome year. You look at big cap pharma pfizer marc, eli lilly unh off the map. Hospitals doing well you mentioned energy i dont know if energy finishes next year well but the first couple months it does well. Because i think you see continued weakness in the dollar commodity is an underappreciated asociety. Health care because of t
A war torn country with sectarian ism is wrong its just nonsense you cant do it you know if these people they are yet until proven we can thank you michel and eventually all of innovation i would love to but im afraid thats all we have time for thank you to both of my guests independent journalist and keith best former chief executive of the Immigration Advisory Service thank you both. And if you have any thoughts on this story or anything else than do get in touch by following us on social media and media comments that were back in 30 minutes say that. Max kaiser here with cassar port hey you know before george zorros became vilified as a globalist and market manipulator and election writer he wrote a lot of interesting books and of course. Jim rogers of the quantum fund which was one of the best performing as funds ever kind of invented the modern hedge fund and hes got a lot of things to say if you look at his old work and were going to get into a Stacy Herbert were going to talk ab
What you observe might not know youve influenced their behavior so you can actually observe their behavior with economics how george soros explained reflexivity reflexivity refers to the self reinforcing in effect of Market Sentiment whereby rising prices attract buyers whose actions drive Prices Higher until the process becomes unsustainable george soros saw all this fact as incompatible with equilibrium theory and well get into that in a bit but i know you study because when i 1st met you 17 years ago you were talking about this you were talking about george soros and reflexivity can describe it as smoking your own belly button lint you describe that you are being reinforced in your beliefs by the manifestation of your actions to take further actions which then give you more to believe in human minsky call this a mens game moment where you know stocks are high because stocks are high you know people are buying stocks because theyre high. And theyre high when theyre buying stocks that