My afternoon train reading:

• Shake Up the Dow! (Barron’s)
Doug Kass: Fair Market Value Update (The Street.com)
• Our growth fixation is positively baffling (FT.com)
• Trouble In Stocks, Focus On Commodities (The Short Side of Long)
• Identifying Causal Relationships vs. Ruling Out All Other Possible Causes (Marc F Bellemare)
• ‘Pivoting’ Pays Off for Tech Entrepreneurs (WSJ)
• How U.S. Students Can Work Off Their Trillion-Dollar Debt (Bloomberg)
• Mobile Spam Texts Hit 4.5 Billion Raising Consumer Ire (Bloomberg)
• Under Catholic pressure Paul Ryan backs away from Rand, Objectivism (The Raw Story)
•  CNBC ‘freaking out’ over decline in ratings for Andrew Ross Sorkin and Maria Bartiromo (NY Daily News)

Whats on your iPad?
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Asian economic rankings

Source: The Economist

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 “10 Monday PM Reads”

  1. patfla says:

    Barnes & Noble popped 51.68% today on news of a an MSFT $300 mln investment into a joint vehicle with the Nook and BKS’s content in mind. A desktop version of the Nook will appear on the Windows 8 desktop.

    As best I see in a street tool, the news was announced at 9:30 and BKS popped from a prior 13.35 to over 25. The first two candlesticks are red and down steeply to 22.31 so I think it’s fair to say that someone knew in advance. BKS finished the day at 20.75 and in after-hours trading it’s down by 3 cents – so not a whole lot. Be interesting to see what happens tmw. Down – but by how much.

    Reading around quickly there may be some decent business logic to the hookup. The wedge may be e-book version of academic books where BKS may compare favorably to AMZN. Obviously MSFT wasn’t going to do this with AMZN.

  2. thomas hudson says:

    http://www.utsandiego.com/news/2012/apr/30/tp-reids-folly-3-years-since-senate-okd-budget/

    ‘Democrats respond that heavy deficit spending was necessary to prevent a depression that loomed because of Bush’s disastrous stewardship. Republicans respond that Democrats had as least as much to do with inflating the housing bubble as Bush. It remains an interesting and necessary debate, but in its current stale version, it’s not very illuminating.

    Another key factor needs to be discussed: the stunning fact that under Majority Leader Harry Reid, D-Nev., the Senate has gone three years and a day since passing a budget resolution. The last time the Senate approved such a resolution was April 29, 2009. ”This is government irresponsibility on an epic scale. Every trillion-dollar deficit is like an assault on this nation’s future health. For a key national leader to ignore the debt crisis because the issue is politically explosive shows that as cynical as Americans are about politics, they might not be cynical enough. ‘

  3. patfla says:

    Duh – I didn’t have pre-market trading turned on. The news seems to have come out at 6:30 EDT and there was a big up and then down in pre-market and early market. Yet it held most of those gains through the end of the day.

  4. Orange14 says:

    Regarding the Paul Ryan story, I find it amazing that with the presence of the Internet and instant searching these politicians (including many Democrats) can completely pretend that they never said something. Funny also to see that now the Mittster belives that Obama did just what he told him to do regarding the auto bailout. I guess it would all be really funny if these were not very serious people. Too sad.

  5. Mike in Nola says:

    That story on the spam texts talks about all kinds of expensive solutions. But, if you remember when spam faxes became a problem in the late 1990′s or early 2000′s, the Federal Government enacted a bill that gave individuals receivng the faxes a right of action to sue the sender. It had fairly high statutory damages (think it was $500), which meant you didnt have to prove anything but that the fax was unsoliciated and you got it. Some people who received lots of spam faxes sued and got lots of money. It tended to put a damper on the spame.

    Why not do the same here? Maybe because none of the big players to profit from it.

  6. James Cameron says:

    A common response from these clowns: “No comment”

    Tea Party Congressmen Accept Cash From Bailed-Out Bankers

    http://goo.gl/tBc9H

  7. David in D says:

    I’m wondering if anyone has read (or is reading) Richard Duncan’s ‘The New Depression – the breakdown of the paper money economy.’ I’m 3/4s of the way through and have found it interesting. Anyone have thoughts on this? BR?

  8. Joe Friday says:

    CNBC ‘freaking out’ over decline in ratings for Andrew Ross Sorkin and Maria Bartiromo

    I don’t know why anyone’s surprised, as Sorkin is a WEENIE and Bartiromo is an AIRHEAD.

  9. MayorQuimby says:

    I respect Kass a lot and he is really tuned in to things on both sides but I do believe he has this one wrong re: residential. Think numbers will disappoint in a very big way next year.

  10. 873450 says:

    “CNBC ‘freaking out’ over decline in ratings for Andrew Ross Sorkin and Maria Bartiromo”

    Finance industry malfeasance resulted in tens-of-millions of Americans losing everything – jobs, homes, savings, healthcare benefits, retirement plans, etc. – everything. At the same time a very large, very expensive, bright red socialist diaper swaddling, comforting and protecting TBTF made it bigger and rewarded malfeasance that remains ongoing.

    Why would someone bankrupt with no money to invest watch financial news programming dedicated to a pretense that government bailed out Wall Street is still about capitalism?

  11. Pantmaker says:

    Everyone always begins with what a nice guy Kass is…never good. Kass is like the Wal Mart version of John Mauldin and his Accredited Investor Circle of Douchebaggery. Kass just puts his bullshit Sham Wow caca doodoo out there in butcher paper…Christ on his throne have you seen Mauldin’s web site lately? It’s like clicking through some spooky Las Vegas airbrushed kookfest infomercial…and the disclaimer that wraps across the bottom of the page reads like Fennigans Wake. This entire genre of “financial media” is so pre-Lehman. Put em all in Fonzie jackets and fire up the speed boat.

  12. toddie.g says:

    No surprise about the demise of CNBC. I’m glad to hear their ratings are suffering as their market coverage became unbearable to listen to several years ago. Conflating political opinions with markets is not what I want to hear. I can turn on Fox News or MSNBC if I want to hear political talk. When I’m working, I just want to hear objective market coverage. People like Joe Kernan make me want to lose my lunch.

    I switched to Bloomberg TV about 3 years ago, and while they are not perfect with too many softball interviews at times, overall the brain power on Bloomberg is terrific. And entertaining. Turning on CNBC for a few minutes to compare is really illuminating how amateurish CNBC is vis-a-vis Bloomberg.