Some interesting reading to start off your week:

• If It Looks Like a Bear, and Moves Like a Bear … (NYT) see also Pivot Point: Investors Lose Faith in Stocks (WSJ)
Martin Wolf: What do the banks’ target returns on equity tell us? (FT.com)
• Volcker Rule May Lose Its Bite (WSJ) see also Volcker Rule May Extend to Overseas Banks (Bloomberg)
• The upside of economic worries: Lower gas prices (Associated Press)
Thomas Friedman: Help Wanted: Leadership (NYT)
• JPM: Apple Trims Orders for iPad Parts (Bloomberg) see also The Bulls Pull Their Goalie (Reformed Broker)
• U.S. Household Worth Falls for First Time in Year (Bloomberg) see also Poverty pervades the suburbs (Yahoo Finance)
• Were Groupon’s and Overstock’s Management and Auditors Stupid or Did They Condone Improper Accounting Practices? (White Collar Fraud)
• Funk legend Sly Stone now homeless and living out of a van in LA (NY Post)
• CIA Says Global-Warming Intelligence Is ‘Classified’ (Wired)

What are you reading?

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Source: Gapingvoid Gallery

Category: Financial Press

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10 Responses to “10 Monday AM Reads”

  1. TraderMark says:

    No surprise on Volcker – it took a few years of lobbying but in the end the banks win.

  2. machinehead says:

    While the Times-Titanic wrings its hands over the existential question of ‘are we or aren’t we’ in a bear market, VIX is STILL north of 40 this morning. As they say in the real estate biz … ‘there prices won’t last.’

    Meanwhile, Bloomberg waxes poetic over the wonderful, wonderful returns in long Treasuries:

    Treasuries due in 10 or more years have returned 28 percent in 2011, exceeding the 24.4 percent gain in all of 2008 during worst financial crisis since the Great Depression, according to Bank of America Merrill Lynch indexes. Not since 1995, when the securities soared 30.7 percent, have investors done so well owning longer-dated U.S. government debt.

    The rally continued last week, driving yields to record lows, as the Fed said it would exchange $400 billion of short- term Treasuries for those maturing in more than six years. The move, dubbed Operation Twist by traders, is designed to lower borrowing costs and keep the economy growing. Previous Fed efforts unlocked credit markets and helped ward off deflation.

    Bonds are producing “monster” gains, said Mitchell Stapley, the Grand Rapids, Michigan-based chief fixed-income officer for Fifth Third Asset Management, which oversees $22 billion, in a Sept. 19 telephone interview. “I’m dealing with a Federal Reserve with an unlimited balance sheet that is desperately looking for something to do to revive the economy.”

    http://www.bloomberg.com/news/2011-09-25/betting-on-bernanke-returns-28-for-treasuries-as-twist-divides-investors.html

    But the parabolic rise in Treasury prices looks a lot like gold’s parabola did three weeks ago. Benny Bubbles is buying the top tick with Other People’s Money — hit his non-market bid with all you’ve got!

  3. wunsacon says:

    More Groupon:
    http://www.businessinsider.com/groupon-ipo-insider-selling-2011-6
    http://allthingsd.com/20110602/where-did-groupons-billion-dollars-go/
    http://www.knewton.com/blog/knewton/from-jose/2011/06/03/groupon-is-a-straight-up-ponzi-scheme/

    And from http://www.theregister.co.uk/2011/06/11/eric_lefkofsky_of_groupon/
    —————————
    Starbelly officers assumed lead positions within Ha-Lo – Lefkofsky was chief operating officier – and a little more than a year later, the company went bankrupt. Ha-Lo and Starbelly faced multiple class-action fraud lawsuits from shareholders, and one suit, which was eventually settled, turned up emails Lefkofsky had sent to his colleagues.

    “lets start having fun … lets get funky … lets announce everything … lets be WILDLY positive in our forecasts … lets take this thing to the extreme … if we get wacked on the ride down – who gives a shit … THE TIME TO GET RADICAL IS NOW … WE HAVE NOTHING TO LOSE…,” he said in one email, according to court documents.
    —————————

  4. Molesworth says:

    Bringing down the house
    The effect of ageing on asset prices may make the rich world’s problems worse
    http://www.economist.com/node/21530077

  5. Joe Friday says:

    Funk legend Sly Stone now homeless and living out of a van in LA

    Shoulda listened to Matt Foley.

  6. VennData says:

    Berkshire Authorizes Stock-Buyback Plan

    http://online.wsj.com/article/SB10001424052970204831304576594582853871222.html

    This is where all that corporate cash’ll going.

  7. Molesworth says:

    Calm cheerful Button leaps 17 points ahead of the McLaren’s vaunted #1 drive (I say fragile and distracted) Lewis Hamilton. Lewis berates his team for mistakes on Sat and then crashes out of the race the next day.
    Vettel is quite jolly and relaxed. Seems team mates Vettel and Webber are getting along again. DiResta had a great run.
    http://www.motorauthority.com/news/1066530_vettel-one-point-away-from-second-formula-1-title-after-singapore-gp-win
    http://www.thesun.co.uk/sol/homepage/sport/motorsport/3837005/Lewis-Hamilton-must-sort-out-his-head.html
    http://www.crash.net/f1/news/173358/1/hamilton_not_content_to_just_exist_like_barrichello.html

  8. JerseyCynic says:

    http://www.zerohedge.com/news/here-comes-fiattackwatch-bernanke-goes-watergate-prepares-eavesdrop-everything-mentioning-fed

    “….the Federal Reserve Bank of the United States, which in a Request for Proposals filed to companies that are Fed vendors, is requesting the creation of a “Social Listening Platform” whose function is to “gather data from various social media outlets and news sources.” It will “monitor billions of conversations and generate text analytics based on predefined criteria.” The Fed’s desired product should be able to “determine the sentiment [ED:LOL] of a speaker or writer with respect to some topic or document”… “The solution must be able to gather data from the primary social media platforms – Facebook, Twitter, Blogs, Forums and YouTube. It should also be able to aggregate data from various media outlets such as: CNN, WSJ, Factiva etc.” Most importantly, the “Listening Platform” should be able to “Handle crisis situations, Continuously monitor conversations, and Identify and reach out to key bloggers and influencers.” Said otherwise, the Fed has just entered the counterespionage era and will be monitoring everything written about it anywhere in the world. After all, why ask others to snitch…

  9. Joe says:

    “Funk legend Sly Stone now homeless and living out of a van in LA”

    As per a local industry figure, “As a teenager in the bay area, he produced records for persons and groups he met through his job as a DJ at a radio station. If you didn’t get what he wanted you to do, he picked up your instrument and showed you what he wanted and that he could play your instrument better than you could.”