Succinct Summations of Week Events 7.25.14

Succinct Summations week ending July 25th 2014


1. S&P 500 made a new all-time highs.
2. US Initial jobless claims came in at 284k well below the 307k expected and the lowest reading since February ‘06.
3. Existing home sales came in at 5.04M annualized, better than expected. May numbers were also revised higher.
4. European July manufacturing rose to 54, a 3-month high and above expectations.
5. AAII showed the fewest bulls since early May, healthy to shake out the weak hands.
6. June CPI rose .3% core rose .1%, in line with expectations.
7. German consumer confidence rose to the highest levels since ’06; Spain unemployment fell to a 2-year low, still a ridiculously high 24.5%;
8. China HSBC manufacturing came in at 52, an eighteen month high.


1. June New Home Sales came in at 406k, well below the 475k expected. May #s were revised down to just 442k vs the initial read of 504k.
2. Markit ISM manufacturing index fell to 56.3, a three month low.
3. French business confidence came in at the lowest levels since summer ’13.
4. Japan July manufacturing PMI fell to 50.8, from 51.5 previously.
5. Japanese exports fell 2% y/o/y vs an expected 1% gain.
6. Geopolitical tumult continues unabated


Category: Markets

Marijuana Laws by State in USA

Source: Vox

Category: Digital Media, Legal, Politics

10 Friday AM Reads

My morning train reads (continues here): • Charts that leave you no choice but to feel optimistic about the US economy (Quartz) • Corn farmers face a cash crunch (WSJ) but see Why is chocolate getting so expensive? (Slate) • Why Do Americans Stink at Math? (NY Times) see also Deficit scolds are the most…Read More

Category: Financial Press

Cognitive Dissonance Is Hurting Your Returns

Regular readers know I enjoy discussing behavioral aspects of investing. The reasons for this are twofold: First, we can’t control the markets, but we can control our own reactions to it (at least we can try). And second, many studies have shown that investors suffer from a behavior gap between what they should garner in…Read More

Category: Cognitive Foibles, Investing, Psychology

Top 50 S&P 500 Companies’ 401(k)s

  Click for the interactive version.   Source: Bloomberg Visual Data  

Category: 401(k), Corporate Management, Digital Media

Rolls Royce Wraith: High Tech Luxury for $400,000

I dont know who the buyers of this beastie might be at 400 large, with its 612 HP 6.6L V12, but it looks like quite the vehicle. What is worth noting for the rest of us of ordinary means is how the technology in these ultra luxe cars eventually works its way down market. Consider…Read More

Category: Technology, Weekend

QE: When and How Should the Fed Exit?

Category: Federal Reserve, Fixed Income/Interest Rates, Think Tank

10 Thursday PM Reads

My afternoon train reads: • Eddie’s deep dive into explaining gold prices. (Crossing Wall Street) • Hot ETF sellers give distribution its due (FT) • Boring Is Good (Millennial Invest) • How to Build Expertise: Lessons From Peyton Manning (James Clear) see also Why Trying to Be Perfect Won’t Help You Achieve Your Goals (And…Read More

Category: Financial Press

States with the Most Negative Equity in Residential Real Estate

Source: RealtyTrac   Each quarter, RealtyTrac releases its “Home Equity and Underwater Report.” According to RealtyTrac’s data, “9.1 million U.S. residential properties were seriously underwater.” Mortgages that are “seriously underwater” exceed a property’s value by at least 25 percent. They also account for 17.2 percent of all properties with a mortgage. That number decreased slightly…Read More

Category: Data Analysis, Real Estate

Searching for water on Ganymede

Source: Know More

Category: Digital Media, Science