A few longer reads for a cloudy NY Sunday morning:

• IPO stands for ‘it’s probably overpriced’ (Marketwatch)
• The Hunch, the Pounce and the Kill (NYT)
• Buying a Piece of America: Why Chinese Shoppers Love U.S. Brands (The Atlantic) see also The Year That Changed Retailing Forever (Bloomberg)
• An Alternative to Hedge-Fund Alternatives (Barron’s)
• Health Bargain Hunters Use Websites to Cut Doctor Bills (Bloomberg)
Martin Wolf: Lunch with the FT: Paul Krugman (FT.com)
•  Playboy goes West (Prospect Mag)
How Banks Bought the Tea Party: Cash Transforms Populist Insurgents To Reliable Vote For Financial Industry (Think Progress)
• The myth of English as a global language (Times Literary Supplement)
• The wrong Carlos: how Texas sent an innocent man to his death (The Guardian)

What are you reading over brunch?

 
JPM Morgan’s Risk Strategy

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.

12 Responses to “Sunday Morning Reads”

  1. PeterR says:

    Per NYT JPM article, Boaz Weinstein is probably enjoying his brunch! SOMEONE had to have profited from the Dimon Debacle.

    Enjoy the rest of the weekend.

  2. Robert M says:

    “But the resulting uproar, in Washington and on Wall Street, has largely obscured a simple truth of the marketplace. Yes, Morgan lost big — but, as Mitt Romney has pointed out, someone else won. And that someone or, rather, those someones, turn out to be Boaz Weinstein and a wolf pack of like-minded hedge fund managers.”
    To be calm I’ll just describe this as the most enabling piece since Helene stood on the Olympic podium in 1936. The author blatantly forgets that JPM is not a hedge fund. It is an FDIC charted institution. This means if they lost enough money their shareholders are backstopped by the US taxpayer. This is not at all equivalent to Boaz’s backers whom could potentially lose all their money.

  3. rktbrkr says:

    If the Chinese “love to laugh at narcissistic, talent-free American Idol contestants” they should take a gander at Eurovision contestants (Ireland’s Jedward is worthy of a Sacha Cohen reality TV type movie – and they weren’t in last place!)

    http://www.irishtimes.com/newspaper/breaking/2012/0526/breaking25.html?via=mr

  4. rktbrkr says:

    I was friends with a young Chinese woman, the only child of a fairly high government official (went to foreign trade missions). Her parents grew up during the era of the US being the “great satan” yet they sent their only child to college in America (she delighted in telling me “I am a Jayhawk” – the idea of college mascots must seem incredibly juvenile to foreigners), she spent her first year with a “foster family” and then was firmly entrenched in the middle America maintream of Kansas.( She met and married an American ABC who was non Mandarin which concerned the parents a bit!)

    I just found it remarkable that in spite of the public statements and posturing towards the US that Chinese would have the admiration and trust to send their only child half way around the world to a completely different life, amazing.

    I know a lot of Filipinos and I would actually say they hero worship the US, not just the vastly higher standard of living but the American ability to get things done. “Just do it” is not an expression with much meaning in the third world. If you think like is the US is tangled up and delayed by bureaucracy just spend a little time in the third world to watch the cobwebs grow.

  5. Robespierre says:

    http://www.guardian.co.uk/world/2012/may/27/syria-condemnation-violence-children
    Ban Ki-moon, said the killings were a “flagrant violation of international law”, while the White House called the violence acts of “unspeakable and inhuman brutality”.

    I would like to hear what the White House calls this:
    http://www.telegraph.co.uk/news/worldnews/asia/pakistan/8695679/168-children-killed-in-drone-strikes-in-Pakistan-since-start-of-campaign.html

    As many as 168 children have been killed in drone strikes in Pakistan during the past seven years as the CIA has intensified its secret programme against militants along the Afghan border.

    Oh yes those are called collateral damages…

  6. franklin411 says:

    Speaking of Kansas–they just eliminated taxes for rich people, business owners, and professionals, while raising taxes on the poor:

    Kansas tax act most regressive in nation
    http://www2.ljworld.com/news/2012/may/27/kansas-tax-act-most-regressive-nation/

  7. biscuits says:

    So Krugman (Lunch with the FT) wants bigger and better QE and higher inflation targets to get the economy rolling. Seems like QE is running out of gas, having less and less effect on the structural problems that still exist in the economy. He thinks the old model is still good, just needs some more gas, that his being right on interest rates and inflation mean he’s got the inside track. He blows off the question about structural problems with a reference to The Onion.

    Globalization has had a negative effect on our economy and until we figure out how to counteract the negatives attached to it we will be spinning our wheels. Crony capitalism has been allowed to flourish as these multinationals help write the tax laws and regulations. How long before H-P, who just laid of 27,000, gets to repatriate overseas profits tax-free again like they did in 2004, and then use the funds for dividends and stock repurchase? The main stream media will sell it as a jobs program, again. Meanwhile, our expensive educational and health care systems end up increasing the effects of inequality as structural problems remain unaddressed and crony capitalism distorts rule of law and fairness. I don’t think austerity is the answer, but until we clean up the rot within, easing and stimulus won’t accomplish anything.

    Also, I have a sudden craving for salade nicoise, hold the anchovies.

    (I posted this on naked capitalism links too)

  8. Singmaster says:

    Really broken health care system:
    http://www.latimes.com/business/la-fi-medical-prices-20120527,0,4627745.story
    A Long Beach hospital charged Jo Ann Snyder $6,707 for a CT scan of her abdomen and pelvis after colon surgery. But because she had health insurance with Blue Shield of California, her share was much less: $2,336.
    Then Snyder tripped across one of the little-known secrets of healthcare: If she hadn’t used her insurance, her bill would have been even lower, just $1,054.
    * *
    The difference in price can be stunning. Los Alamitos Medical Center, for instance, lists a CT scan of the abdomen on a state website for $4,423. Blue Shield says its negotiated rate at the hospital is about $2,400.
    When The Times called for a cash price, the hospital said it was $250.

  9. Jojo says:

    Careful with those antibiotics…
    ———–
    PREVENT INFECTIONS
    Can You Be Too Clean?

    We lead super clean lives in which hand sanitizers and antibiotics are the answers to everything. But what if our war on germs was backfiring–and making us not only sicker but fatter?

    In mid-november, 2010, Alex O. wondered for the first time if he might be dying. For 6 weeks, the 27-year-old had been suffering from a digestive disease as horrific as it was mysterious. Shortly after breaking up with his girlfriend in late September that year, he’d started experiencing bouts of diarrhea, which he initially thought might be due to the stress of heartbreak. After a month, however, his diarrhea hadn’t improved and was now flecked with blood. Stabs of gut pain had begun to wake him up at night.

    “The persistence of the diarrhea,” he recalls, “kind of told me it wasn’t due to my mental landscape.”

    Alex, a freelance graphic designer who works part-time at a food co-op in Minneapolis, had long described himself as “100 percent average”–5’10″, 170 pounds, brown hair, brown eyes. But his illness was making him look and feel anything but average. He could see in the mirror how quickly his face was turning gaunt and pale. He could feel his vitality draining too, almost as if someone had tapped a vein with an IV line and forgotten to cap the other end. A passionate, lifelong skateboarder, he no longer had the energy for his favorite recreation. He could barely make it through a day of work.

    Alex’s family doctor had tried everything he could think of, including diet changes and a weeklong course of antibiotics. Nothing worked. The doctor finally referred Alex to a gastroenterologist, who ordered tests for three potential culprits: cancer, HIV/AIDS, and a gut infection caused by a bacterium called Clostridium difficile, or C. diff, for short.

    http://www.menshealth.com/health/dirty-secret-perfect-health

  10. Jojo,

    to the ‘Flip-Side’ of your 15:33..

    http://search.yippy.com/search?query=Amish+Swiss+children+low+allergies+asthma&tb=sitesearch-all&v%3Aproject=clusty

    didn’t read the ‘article’ that you linked to..though, it’s a decent SWAG, given today’s Rodale Press, that the ‘Topic’, I illuminated, wasn’t broached..

  11. [...] – Further, further reading. [...]