CLIENT LOGIN
-
-
CIO INSIGHTS
-
BACK TO CIO INSIGHTS
BACK TO ARTICLES & INSIGHTS HOME
-
-
-
-
Investment Insights are written by Angeles' CIO Michael Rosen
Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, trader and academic.
HAPPY SINGLES DAY!
Published: 11-11-201411 November is celebrated in the US as Veteran’s Day and throughout Europe as Armistice Day, marking the armistice ending the First World War in 1918. Government agencies and banks are closed for the holiday (but we’re working here at Angeles!).
11 November, as Armistice Day or Veteran’s Day, has recently been displaced by a new holiday, created just 5 years ago, by Jack Ma, honoring not our war dead or our military veterans, but a far more important and over-looked group, long-forgotten, scorned and abused: the single consumer.
Seeing the unfair neglect of this group, who suffer in stoney silence with no partner to exchange gifts on Valentine’s Day, Jack Ma decided that single people should buy themselves gifts on Single’s Day. Only coincidentally, even unconsciously, would this selfless act of public service benefit in some modest way Mr. Ma’s company.
Well, the numbers are in. In the past 24 hours, on the Alibaba platform alone, $9.3 billion of gifts were purchased, representing 278 million discrete transactions. To put this in perspective, the two biggest shopping days in the US are Black Friday and Cyber Monday which, combined, last year generated $2.9 billion of sales.
We are grateful to Jack Ma that China’s singles won’t feel so lonely after this day. Or will they?
PRINT THIS ARTICLE-
Dollar 02-06-2015
My quarterly letter talks about the strength of the US dollar and why it should continue to rise (see Chart below), but ...
READ MORE -
Where Have All the Bonds Gone? 02-09-2015
Apologies to Pete Seeger for stealing his song lyric, but I think bonds and flowers are sufficiently different that he ...
READ MORE -
Shock (Part 1) 11-22-2016
Shock, a sudden drop in blood flow, is a serious medical condition. Untreated, it can quickly be fatal. There are ...
READ MORE
-
-
CONNECT WITH USSUBSCRIBE TO ANGELES' INSIGHTS
Get the latest investment information and stay on top of market trends.
-
CONTACT US
SANTA MONICA
429 SANTA MONICA BLVD
SUITE 650
SANTA MONICA, CA 90401
310.393.6300
GET DIRECTIONS -
NEW YORK
375 PARK AVENUE
SUITE 2209
NEW YORK, NY 10152
212.451.9240
GET DIRECTIONS
