1. Financial advisors and asset allocators who had been hoping to see some benefit this year from tactical strategies were also not spared the punishment of a capricious market. Of the top three tactical strategies in the country (Mainstay Marketfield, Good Harbor U.S. Tactical Core, F-Squared Premium AlphaSector Index), two had nearly imploded with double-digit losses while the third found itself under SEC investigation for misleading the public about its historical returns. The other giant tactical manager, Schwab’s $9 billion Windhaven Diversified Growth product, looks to end 2014 with a return close to zero. So much for tactics.
2. Two against-the-clock tours of Los Angeles. Two celebrations of the sometimes prickly solidarity among women. Four tremendous performances, from Kitana Kiki Rodriguez, Mya Taylor, Julia Garner and the great Lily Tomlin. “Grandma” is the work of a studio veteran. “Tangerine” was shot on iPhones. Anyone prone to lamenting the death of movies needs to shut up and watch these.
Mr Erdogan’s escalation comes in the midst of a vitriolic tit-for-tat between Ankara and The Hague, which began at the weekend after Dutch officials barred Turkish ministers from campaigning in Turkish communities inside the Netherlands.