The Rising Influence of Rising Affluence

[DewDiligence]

Odd premise for Shell downgrade:

http://www.marketwatch.com/story/shell-downgraded-to-neutral-at-jp-morgan-2011-01-19-318260

J.P. Morgan downgraded Royal Dutch Shell (RDS-A) to neutral from overweight, citing valuation after the stock's strong performance in 2010. "We sense that Shell's exceptional performance in 2010 may have borrowed from its 2011 potential and was partly attributable to the impact of Macondo on BP," the broker said. "We struggle to identify incremental catalysts that are not expected and cannot see a compelling valuation gap relative to BP," it added.