Emerging markets have been on quite a tear this year. Just as pretty much everyone gave up on the asset class, the emerging markets ETF (EEM) made a low in December and has rallied by over 16% since.


The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.
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