10 Weekend Reads
Some reading material to stimulate your brains and start off your weekend:
• Contrary Opinion: Wall of worry gives way to slope of hope (Market Watch)
• Ray Dalio’s radical truth (Institutional Investor)
• More 401(k) Plans, IRAs May Offer Investing Advice (Yahoo Finance)
• The past decade GDP was driven solely by Credit (NYT)
• Occupy Wall Street: It’s Not a Hippie Thing (Businessweek) see also Nothing’s More American than Fighting Greedy Bankers (Tyee)
• European Bank Debt-Guarantee Proposals May Struggle to Thaw Funding Market (Bloomberg)
• Why do we need a financial sector? (Vox) see also Big Banks Blink on New Card Fees (WSJ)
• Mark Thoma on Econometrics (Browser)
• The Hellhound of Wall Street: How Ferdinand Pecora’s Investigation of the Great Crash Forever Changed American Finance (EH.net)
• The Ideological Fantasies of Inequality Deniers (NY Mag)
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October 29th, 2011 at 7:31 am
Here’s an interesting blog post on the distinctions between they dynamics of Order Flow within different markets such as Forex, Equities and Futures.
It turns out that all order flows are not created equally.
http://algofutures.com/blog/order-flow-fx-vs-equities-vs-futures-who-wins-most-likable/
October 29th, 2011 at 9:38 am
Re: Inequality Deniers and Paul Ryan’s willingness to ignore the facts (and really poor math). I believe Reagan was also known for ignoring facts and look what it got him — eight years in the presidency and a fawning group of believers even thirty years later. What’s there for Ryan not to like?
October 29th, 2011 at 9:58 am
Here’s a great promo for John Hodgman’s new book, “That is All”.
http://www.funnyordie.com/videos/4cc168ca62/that-is-all
October 29th, 2011 at 11:02 am
It turns out that sovereign debt problems are really just accounting errors: http://www.bbc.co.uk/news/business-15503097
Merkel must do well on Internet poker since she has had an extra 55 B Euros for a month and never let on until after this week’s agreement was announced and the week’s trading was complete.
I assume that we are entering an arms race of “accounting error” discoveries in countries’ books around the world.
October 29th, 2011 at 11:19 am
Washington Post tells us ex Fannie Mae CEO James Johnson’s new company got $50 million government loan …You would think after the subprime / Fannie Mae stupidity the man would take his many millions and just disappear, no ? I hope Occupy Wall Street reads the Washington Post story.
October 29th, 2011 at 1:08 pm
rd: Not a problem. FASB and the new international accounting standards will set this all straight.
October 29th, 2011 at 1:12 pm
I feel guilty after reading that the growth in the last decade was driven by credit but I am going to keep my cash and continue to live debt free. For some reason I don’t feel like leaving my future to the corporatocracy since all the good spots under the bridges are already taken. Actually I have felt this way for the last 30 years.
October 29th, 2011 at 1:15 pm
Wrong St./K Street
http://editorialcartoonists.com/cartoon/display.cfm/104633/
October 29th, 2011 at 1:56 pm
there are no perfect ‘natural’ systems, that are perfectly balanced.
http://www.nakedcapitalism.com/2011/10/the-natural-chaos-of-markets.html
they are always in flux.
and almost always not in balance
applies to nature
and to economics too
October 29th, 2011 at 3:48 pm
This Bloomberg series by Kahneman based on his latest book is pretty awesome
http://www.bloomberg.com/news/2011-10-27/bias-blindness-and-how-we-truly-think-part-4-daniel-kahneman.html
October 30th, 2011 at 8:47 am
Recall Edginton Agrifuels ? ..
http://articles.philly.com/1986-12-28/news/26068525_1_loan-guarantee-triad-america-agrifuels
I hope Occupy Wall Street reads this as well