My afternoon train reading:

• Are Millionaires Pulling Out of Stocks? (WSJ) see also How The Rich Spend Their Money (Barrons)
• Bill Gross on The Great Escape: Delivering in a Delevering World (Pimco)
• Face Time With Facebook CEO Stirs Concerns on Wall Street (NYT) see also Facebook Says Negative Outcome of Yahoo Suit May Be Material (Bloomberg)
• Apple TV beckons as jackpot in Hon Hai’s Sharp gamble (Reuters)
• Banking Regulator Calls for End of ‘Too Big to Fail’ (DealBook) see also Foreclosure Deal Credits Banks for Routine Efforts (NYT)
• More US drilling didn’t drop gas price (Minnesota Public Radio)
• Nudge nudge, think think (Economist) see also Habit: Can’t Help Myself (NYT)
• The Long History of American Health-Care Fights (Bloomberg)
• Next Big Idea: Jeff Koons’ ‘Train’ at the High Line (High Line)
• NY’s Financial Media Heavyweights Partied For JB’s ‘Backstage Wall Street’ (Business Insider)

What are you reading?


Bulls Show Their Bearish Side

Source: WSJ

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

13 Responses to “Mid-Week PM Reads”

  1. Union Agitator says:

    So calling manipulation “Nudge” makes it more acceptable?

  2. Moe says:

    Articles like this drive me insane (I know, probably a short drive – I could even walk)

    Hard work = If the articles premise were true, most miners in Virgina would be millionaires.
    Luck = In one family alone I know of 4 siblings all 40 years old or older who have NEVER had a job because they are living off Daddy’s money.


    BR: IBD is notorious for that, and it puts their objectivity in question.

  3. JimRino says:

    The rich have the option to spend on:
    - Solar Panels
    - High efficiency heating and AC systems.
    - Triple Pane windows.
    - Remodeling? Doubling up on 2*6 framing.

    In other words investments with a Guaranteed Return, and no down side risk.

    After we’ve seen the inner workings of Wall Street, and their absolute failure to build a system that is self sustaining, more like catastrophic failure build into the system, can anyone blame them for keeping their money out of the market?

  4. Jojo says:

    Nothing is safe these days.
    Hackers turn credit report websites against consumers

  5. louiswi says:

    IBD’s objectivity in question? Not a chance. There is no question about their objectivity-it just does not exist period.

    Having made an inordinate amount of money over the past five decades I can state without question that luck was a huge deal for me. Sure there was hard work but without good luck, it would have been for naught. I would suspect most people who have made it -if they were honest, would agree.

  6. Taliesyn says:

    Why I Am Leaving Goldman Sachs_NYT_Sunday_3/25/2012

    My apologies if ever-so-infrequent editorial/rants turn the readers off from even trying to look beyond the messenger and get to the actual *mssg* , but this editorial is *still* highly relevant , I thought important ( as did the NYT to publish it ) , a wholly consistent with Ritholtz’s *Bailout Nation* mission to cry *bullshit* in the crowded theater of Wall St reportage. Your call.

  7. Taliesyn,

    if your Serious, why be ‘apologetic’?

    IOW, if you believe that You have *Truth, to be told, ‘Say it Loud, Say it Clear’..

  8. Taliesyn says:

    I *am* serious or I wouldn’t even bother to post which is also why I post so infrequently/sporadically. I alsodon;t speak up unless I feel I have something to contribute. Again , my purpose was to expose some in this group to the article which. I saw zero evidence of this in the discussion which always occurs after. Frankly I was surprised to see that Ritholtz , himself , apparently *missed* this op-ed I’m assuming due to too much else on his plate….
    then,again , his editorial on things of Spring blossoms may also suggest he was stopping to smell the flowers which translates to me that he was takng a break form all of this which can only be healthy thing.
    That said this time out I felt so strongly about the import of this editorial that I wanted to disassociate my own editorializing so that the commentary *itself* could say what it does by someone who apparently worked at a very high level within GoldmanSachs and deserved any reader’s fuller attention here more than my added commentary.
    It’s as simple as that. The editorial delivers that much presence IMO. Case Closed!

  9. WolfStreet says:

    re:Union Agitator,March 28th, 2012 at 5:14 pm
    On the (off-topic?) topic of “manipulation”. I dare quote myself, from some other blog
    “Now, in order to extropolate further on these “guys who may be selling the world”: I guess the big money keeps elaborating ever more sophisticated algorithms, based on evolving “models”. In the end, maybe their stuff becomes understandable by no one, not even those who created the programs.

    Can’t we, then, imagine that this would be the perfect place to “hide” some crypted mechanism ? Like some kind of “key”, that funds can share with each others, which in the end triggers some kind of collective behaviour ? That is, highly sophisticated cheating, buried deep inside those 0 and 1′s”

    What says ye ? :p

  10. WolfStreet says:

    What I was trying to describe above, about the “key”, was some kind of “SSL” mechanism thing. That is, you’ve got a “key” (a value, number, text, whatever..), that triggers some behavior that you’ve coded into you stuff. Since no one understands your stuff to being with, I guess it can you can code some part of your logic along untold rules..

    Again, as mentioned also on the aforementioned blog, what I’m talking about here is just kewl Scifi scenarios.

  11. Thatguy says:


    That is a brilliant idea! Figure out how to do it and then clandestinely sell it to the banking cartel for mega bucks!