My afternoon train reading:

• Euro Zone Crisis Boils as Leaders Fail to Signal New Steps (NYT)
• Copper ETF plan would ‘wreak havoc’ (FT.com)
• Passive Asset Allocation Strategies Are Still Tough To Beat (Capital Spectator) but see Why a ‘Balanced’ Portfolio May Not Work (SmartMoney)
• Seeing Bailouts Through Rose-Colored Glasses (NYT)
Farrell: How Facebook could destroy the U.S. economy (Market Watch)
• J.P. Morgan and ‘Asymmetric Accounting’ (WSJ) see also Baum: Stop the Big Banks Before They Can Lend Again (Bloomberg)
• Nervous investors are looking beyond positive U.S. economic signs (LA Times)
• Facebook IPO Post Mortem – Killer – but not for the reasons you think ! (Blog Maverick) see also Greenshoes, Facebook phantoms and ETF magic (FT.com)
• Data journalism research at Columbia aims to close data science skills gap (O’Reilly Radar)
• Robert Carlock walks us through highlights from 30 Rock’s six seasons so far (Part 1 of 4) (AV Club) (Part 2 of 4) (AV Club)

What are you reading?

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Mutual Funds Promised Haven From Speedsters

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.

11 Responses to “10 Thursday PM Reads”

  1. swag says:

    Would be surprised if you haven’t posted this sometime in the past, but I’ll have a go anyway:

    Rhetological Fallacies (Information is Beautiful)

    http://www.informationisbeautiful.net/visualizations/rhetological-fallacies/

  2. Lyle says:

    I wonder if we are not seeing the effect of too many folks trying HFT and as a result not making the money that it appeared possible to make. It seems the investment community is a herd and if something works for someone everyone copies it and makes it so that no one can make any money on it. It worked this way for various kinds of hedge funds in the past. So the interesting question is can you have a good strategy but keep the returns small enough that they are not noticed as an investment advisor?

  3. VennData says:

    From the asset allocation links above…

    ‘…How have these indices performed? Rather well, Does GMI’s strong relative performance mean that everyone should abandon their asset allocation strategy and go passive? No, probably not…”

    But Brett Arends says that they don’t because of “inflation,”fees” “taxes” and ‘[lumping of] returns. Huh?

    All you are trying to do is get your share of the equity returns. Inflation, fees, taxes and lumping of returns hit ALL portfolios. He doesn’t compare portfolios, he just says these four enemies of investors will hit a re-balanced asset allocation. That’s loonie. The fees are higher with non-indexed products, taxes higher with more frequent trading, and the inconsistent returns hit anything you invest in. In a debate, Arends would get shreded. But the WSJ needs advertisers selling financial products. ..so…

    You should run, not walk to your nearesy investor-owned index provider and follow a buy, hold, rebalance a set allocation … and ignore Brett Are DS one-sided nonsense.

  4. Iamthe50percent says:

    Copper ETF plan would ‘wreak havoc’ sounds interesting but the site has some sort of funky cookie policy that you have to agree with to read it. I declined. I value my privacy too much.

  5. lalaland says:

    That Mark Cuban article was very interesting – haven’t seen anyone coming at things from that angle so thanks for posting.

  6. James Cameron says:

    Often are days are filled with news about greedy bankers and rigged IPOs, so these types of stories are a reminder of the best this country has to offer . . .

    Big Day for a Space Entrepreneur Promising More

    http://goo.gl/V3zUO

  7. Mike in Nola says:

    @Iam: don’t worry about cookies on the FT. They are pretty reputable. Probably just some CYA to comply with some possible EU privacy policies. Unless you have your browser configured to not accept any cookies, you are getting them for every site anyway. And some that are really bad for privacy, like google and it’s subsidiaries you feed you cookies on lots of sites not affiliated with google.

  8. Mike in Nola says:

    Why shouldn’t the financial houses F up the copper market just like they have the oil market. It’s not like anyone actually uses oil or copper to make stuff; those commodities are most useful for trading using all that excess cash Uncle Bennie gives them.

    As the FT article mentions, demand for copper is falling as China slows and the price has fallen 25%. No reason to let prices deflate so goods can be manufactured cheaply and help the recovery. Not when there’s quick buck to be made doing nothing socially useful. I do hope those predicitng deflation are correct and all those betting on commodities and driving up prices get their asses kicked. It might put and end to some of the foolishness.

  9. mathman says:

    Things are startin’ to go downhill in sunny Australia now too:

    http://au.news.yahoo.com/local/vic/a/-/local/13777902/family-violence-drives-up-vic-crime-rates/
    “Victoria’s crime rate has risen but police say it is too early to tell whether a gloomy economy is among the reasons.

    Police say the statistics show the rise is driven mainly by increasing family violence crimes and in the greater detection of drug offences.

    Crime across the state rose by 4.1 per cent in the 12 months to March, compared to the same period the previous year.

    Crimes against people, which includes family violence-related crime, went up 10.4 per cent while drug offences rose by 14.7 per cent.” (there’s more)

  10. Julia Chestnut says:

    You know how we used to joke about needing to cure cancer during high school to impress the admissions director these days at a good university? This kid did it.

    http://newsfeed.time.com/2012/05/24/15-year-old-creates-test-for-pancreatic-cancer/

    As you may know, you either catch pancreatic cancer early, or it kills you – period. Completely incredible.

  11. AHodge says:

    http://blogs.wsj.com/economics/2012/05/25/demand-strong-for-government-program-paying-farmers-not-to-plant-crops/

    for an instant i thought i had opened the Onion by mistake
    but its for real of course