The Monuments Men
Last week we were privileged to host two special advance screenings of The Monuments Men, one especially for the staff of the National Archives. Thanks to the generosity of Sony Pictures, Columbia Pictures, and Robert Edsel, author of The Monuments Men upon which the film is based for making this possible. The film will open in theaters around the country on February 7th.
In our East Rotunda Gallery, through the 19th of February, our featured document is an Einsatzstab Reichsleiter Rosenberg (ERR) album that records artwork looted by the Nazis during the Second World War – one of a series of photo albums created for Adolph Hitler’s benefit to document the Nazis’ systematic looting of cultural treasures and to serve as a pick list for his planned museum in Linz after the war. The Army’s Monuments, Fine Arts, and Archives program recruited the group known as the Monuments Men (although there were also Monuments Women), and they used these albums to return treasures to their rightful owners. The volume on display is one of several recently discovered albums donated to the National Archives by Robert Edsel, the president of the Monuments Men Foundation for the Preservation of Art. The newly discovered albums supplement the 40 already in the custody of the National Archives.
Read the full post on the AOTUS blog.
Why This Rally Continues To Look Strong
My pal Steve Russolillo at WSJ wrote a killer piece today on how breadth is stronger now than previous peaks.
The best stat he cited was the top 10 contributors to the SPX this year have accounted for just 18% of the indexes rally this year, versus 65% back in 1999. In other words, many more stocks are participating. The more stocks participating, the stronger the lasting power of the rally is.
The chart above is one of my favorite and one I’ve been using all year as a sign this bull market is indeed alive and well. It is the cumulative advance/decline line at the NYSE. As you can see, we saw some big time weakness under the surface back in 2000, as just about the only thing going up at the end was big cap tech stocks.
The 2007 peak saw more subtle weakness, but weakness under the surface was a warning yet again.
Fast forward to now and the internals continue to look very strong and show no signs of slowing down.