My reads to start the week off:

• Is the end near for 3-year-old bull market? (USA Today)
• Great Expectations: Is this recovery for real? (New Yorker) see also Market Shrinks First Time Since ‘09 on U.S. Buybacks, Offerings (Businessweek)
• How to Tell if a Growth Stock Can Keep on Growing (WSJ)
• Beware of Banks’ Flawed Focus on Return on Equity (DealBook)
Reinhart: Financial Repression Back to Stay (Bloomberg)
• U.S. exports to China boom, despite trade tensions (Washington Post) see also China Has Biggest Trade Shortfall Since 1989 on Europe Turmoil (Bloomberg)
• Adam Smith versus Business (Freeman Online)
• Why Hath Google Forsaken Us? A Meditation. (Battelle’s Searchblog)
• Why the New iPad is So Huge for Apple (Read Write Web) see also The iPad Is Unbeatable (Slate)
• The Four Million Dollar Philosopher (3:AM Mag)

What are you reading?


Beware the Safety Catch for Bond Buyers

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.

14 Responses to “10 Monday AM Reads”

  1. Through the Looking Glass says:

    1.YeS, 2.No, 3. Blah blah BS
    Answers to these questions:•
    Is the end near for 3-year-old bull market? (USA Today)
    • Great Expectations: Is this recovery for real? (New Yorker) see also Market Shrinks First Time Since ‘09 on U.S. Buybacks, Offerings (Businessweek)
    • How to Tell if a Growth Stock Can Keep on Growing (WSJ)

  2. crutcher says:

    Yet again the Templeton Foundation attempts to give religion a voice where ought not to tread. This is a disaster for science education and for the credibility of the universities involved.

  3. VennData says:

    Carmen Reinhart who has been dead wrong for the last three years, predicts that emerging markets will curtail financial flows. Well, OK, they may, or may not. So as evidence he links to this…

    …which contains no evidence of emerging markets closing their capital markets, but a reference to the same article and Bloomberg’s top stories.

    I know who was a chess prodigy, but next time you meet him ask him to explain the Japan, Belgium and war-time US exceptions to his “theory.”

  4. dream-king says:

    Re: the iPad –

    Data contracts remain an impediment to being impressed by LTE. No one is going to hold an ipad up at arms’ length for any length of time, so the video camera is not a must-have feature. The screen resolution, and the extra memory/CPU are of note. But CPU improvements are more press release than anything else these days. So it really just leaves the resolution and the extra memory.

    If you don’t already have an ipad, it’s good news enough. There’s now proven legs and longevity with the product. They’ve demonstrated they can get something out that’s competent without Jobs.

    That said – If you have an ipad 2, I wouldn’t bother with an upgrade. If you have an Ipad, I’d be on the fence and would only care if you need to shave the thickness, or you’re in demonstrable need of a videoconferencing tool.

    It’s good news for Apple, but it’s the iterative conservatism of the maneuver that’s the good news for investors. There’s competency here, but not ingenuity, in this release.

  5. VennData says:

    Saudi Arabia Reluctant to Replace Iran Oil

    “…Saudi Arabia, the world’s largest oil exporter, is prepared to fill any gap in world oil markets caused by sanctions against Iran, but will do so only reluctantly, an official from the Gulf state said Monday…”

    Talk about burying the lead. The headline is the exact OPPOSITE of what our friends the Saudis will do.

    Thanks, WSJ.

  6. Mike in Nola says:

    And I thought I was reading a financial blog and not an Apple fansite. Seems like every other post this weekend was about discussing why Apple is so wonderful and every set of daily posts has at least one Apple article lately. A bit too much media frenzy. Too many trying to justify the stock price?

  7. AHodge says:

    im reading your Bookvaar who i usually like’
    but has his head up his ass this AM about CDS being “legitimized” recently
    it was a tiny Greek peanut $3 bio, to think the Greek or other structurings should hang on that is silly
    its also silly to think a product that pays 100%, and whenever the ISDA feels like it, can ever be a serious hedge when the restructurers are getting ??% in workout

  8. NoKidding says:

    Infographic – seems like this will central in the next crisis. Maybe next year, maybe several years, but these contracts are designed to be unpayable at the critical moment, if it comes. And it seems to be coming, Greece -> Portugal -> Ireland -> Spain. Yesterday’s AIG CDO is tomorrow’s Barclays (or whoever) CDS.

  9. AHodge says:

    im also reading my lates B of A threat to foreclose on me and have this answer
    now being looked at by a lawyer friend

    Bank of America
    Attention: Correspondence Unit
    PO Box 5170
    Simi Valley, CA 93062

    Ref: mortgage xxxx
    By fax and registered mail

    I have your letter certified mail, return receipt requested, which notes my “loan is in default” and threatens acceleration and foreclosure on April 19. This will be my return receipt. This looks nearly identical (except amounts owed are $1386.05 higher) to a letter you sent May 23, 2011 threatening foreclosure in June 2011.
    I am not in default of anything as detailed below, and in my earlier correspondence to you. Except your fictitious disputed charges for condo “wall” insurance you know I already have. Shall we have some eventual disclosure to prove that? There is a lengthy correspondence and discussions, in particular my letter to you of about Jun 3, 2011. I know (verbally) you have received the letter (agents reported it in your electronic file record of me) and I know you have received evidence of condo walls insurance. I have since received, and you have records, of a barrage of over 90 letters from “you”on this. Including at least five announcements of placement without my consent of condo insurance with different no-name companies, probably captives of yours. Then bizarre retractions of most within weeks. You have then added late fees onto these and other remaining fictitious charges.
    After an agonizing run of nearly a dozen nearly impossible to reach know nothings ( I can supply some names as witnesses to be deposed but you already have records) I finally around the end of May 2011 reached “Lacie” and one higher who’s name I can find (you have it) people who together agreed all charges were unwarranted except perhaps, also bizarrely, the late fees, as memoired in my earlier letter. Unfortunately for me, your agreements were not in writing. I was going to hear, I was told probably favorably, from your laughably titled ombudsman, and told to be patient. That was last summer. So you are not, in my opinion, legally permitted to resubmit the same foreclosure threats with a time deadline. And act like there is no settlement history or unanswered written correspondence from me.
    I cannot tell the admixture. But I am clearly dealing with a mix of a dysfunctional, out of control mortgage service function, or a predatory business model to generate fictitious charges and extort payment in the guise of mortgage compliance. Perhaps we will find out through the legal process. Meanwhile I am in complete compliance, your own records will show. I have paid promptly $3431.23 per month on time or in grace period since borrowed in 2010, and plan to continue. Unless of course you attempt foreclosure.
    I recap the final paragraph from my letter of nine months ago
    “I am not disposed to take further action now, unless you send an adverse credit report in spite of warnings, or continue acceleration and foreclosure proceedings you say are stopped, or refuse to provide me prompt confirmation that the default/foreclosure notice was an error on your part which you have changed, or refuse to rescind the late charges that I intend not to pay based on what I know. Please confirm receipt.”
    Its clear you have not complied with the last three of these requests or the receipt notice? You clearly are unperturbed at the possible consequences of your reckless and possibly illegal acts, including civil damages, extensive discovery motions, publicity, and liability for individuals. Apparently you also care nothing for putting a perfectly prompt mortgage into default for the investor pool you probably sold to. All in order to raise the post lending servicing “income” you tout yourselves as being so good at raising?
    Consider the previous a serious if somewhat sarcastic legal response. Now I justifiably vent.
    I laugh at your threat of foreclosure. And your contemptible extortion of fictitious insurance charges, in the guise of mortgage compliance. I am going to throw most of your barrage of witless uninformed correspondence unread in my pending lawsuit file as evidence. Have a sentient human with a name familiar with the case personally call or write if you dare. I am guessing you still won’t nearly a year later
    In our likely Collier County FL venue, a judge declared B of A in contempt for not paying damages and costs in a wrongful foreclosure suit, and forced payment on threat of FORECLOSING on the banks own branch. The sheriff’s were there to take the furniture when a compensation check was cut. But I do not require a result that dramatic to be willing to pay 5 figures of legal fees to further humiliate you in public. I am going to spread all this correspondence and any future all over blogs I like and maybe ask for contributions to my B of A legal OFfense fund. Charges may be forthcoming. I’m coming for you. MMMMmoynihan! Im coming for you Moynihan! And all your disgraced chain of command minions.

    Yours in Contempt but truly
    Andrew Hodge

  10. maddog2020 says:

    Just heard of Pundit Tracker this weekend. Could be very useful, especially if those with bad track records are forced to wear a scarlet “letter” (grade) for their media appearances!

    In finance, they follow the Barron’s roundtable and are beginning to follow Cramer.

  11. Iamthe50percent says:

    Shocking, Mr. Hodge, shocking. I have heard nothing but bad about BoA. Last month I purchased a new Chevrolet Impala. I already had a loan commitment from State Farm, who I have dealt with in the past, for 3.24(sic) %. The dealer salesman offered my 2.9% from BoA. I told him, “Forget it!”. Judging from the size of your condo payments, you probably don’t need car loans, nor buy Chevrolets. Despite our relative incomes, let me give you some sound advice, REFINANCE NOW WITH SOMEONE ELSE! For the last 22 years, I have had four mortgages (one original and three re-fi’s) with Citicorp Mortgage. They have screwed up a lot. They don’t seem to have much sense. But they always fixed problems with a simple visit to the local branch. I’m sure there is someone better, but they are OK. Never deal with BoA, Chase (The Land of the Fee), or Wells Fargo.
    When I lived in Virginia, Bank of Virginia and Northern Virginia S&L were super. I doubt if they make mortgages in Florida and NoVa S&L is probably (sadly) extinct.

    Good Luck and I hope you bloody their nose.

  12. cognos says:

    Is this the end of the bull market?