My morning reads:

• The Superstitious Fund Project (A Superstitious Fund)
• Jeffrey Frankel on the “Procyclicalists”: Fiscal austerity vs. stimulus (Vox)
• Germany and Italy near blows over euro (Telegraph) see also Merkel’s Bavarian Allies Turn Critics on Anti-Crisis Measures (Bloomberg)
• Good news! Earnings growth is slowing (Market Watch)
• In search of liquid water (investment vehicles) (
• Google Googles for Yield, Finds Auto Bonds (WSJ) see also Investors Seek Out Safer Shores (NYT)
• How to Invest in a Real-Estate Rebound (Smart Money)
• Weather Extremes Leave Parts of U.S. Grid Buckling (NYT)
• Does Cybercrime Really Cost $1 Trillion? (ProPublica)
• Four pieces of advice for the Verizon Wireless store (Jeff Stern)

What are you reading?


J.P. Morgan ‘Whale’ Was Prodded By Boss to Boost Values of Losing Bets

Source: WSJ, see also • J.P. Morgan ‘Whale’ Was Prodded to Falsify Trades (The New Republic)

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 Tuesday AM Reads”

  1. VennData says:

    ‘… Mr Jalili, who heads Iran’s supreme national security council and is considered a senior aide to Supreme Leader Ayatollah Ali Khamenei, had travelled to Damascus from Lebanon. Hetold reporters that “kidnapping innocent people is not acceptable anywhere”, Iran’s official news agency Irna reported…”

    This Iranian regime never condones kidnapping innocents… riiiight….

  2. The Retired CNBC Sucks says:

    For those who are from the “You can never get enough Facebook news” school, of which I am a member:

    I don’t know what reputation Seeking Alpha has with TBP readers, but at least the writer makes a good effort in summing up the most current situation, including a discussion of the lock-up shares soon to be released.

    I have no position in FB, but I think this could be one of the most interesting stocks to trade. I didn’t have the courage to short so props to all those who did and have made big money.

  3. eliz says:

    As a lifelong customer/user experience advocate, I loved Jeff Stern’s piece on his Verizon store experience. Years ago, before having to pick a new carrier, I went into the local stores for Verizon, AT&T, T-Mobile, and Sprint. Hands down, by a Secretariat at Belmont margin, Sprint was the store that provided the best, most intelligent, assistance. In addition, their plans were easy to get – not piecemeal. Since then, I’ve been a loyal Sprint customer. Of course, this is just my experience – it could be different in different locales.

    p.s. I do not own Sprint stock.

  4. RW says:

    The debate about taxation got me thinking about cognitive priors: The background assumptions that often go completely unrecognized in argument yet largely predetermine how that argument will conclude.

    Resentiment seems to be a major prior these days so flipping priors on their heads can clarify.

    The Truth about Taxes: Just About Everyone Pays Them

    Do the Poor Really Pay No Taxes?

    The 53% Myth: Working Poor Pay More Of Their Income In State And Local Taxes Than The Rich In 49 States

    The Poor Pay The Highest Marginal Rates In The Country

  5. willid3 says:

    the ‘scam’ that globalization was a 100% win, and that if the US customers (consumers/employees) will continue to drive GDP higher, even when incomes are collapsing? and that linkages from US to other countries wont drive others into the ditch?

    seems to be a big lie. so far, the world hasn’t recovered. and US consumers(customers/employees) aren’t going to drive it any more, because they are looking at declining incomes, and too much debt.
    so i guess we better hope the space aliens show up soon. or the worlds economy will continue to tank

  6. nofoulsontheplayground says:

    Decisionpoint (Carl Swenlin) – “152 Top 10 Blue Chip Index Shows Unhealthy Market”

    This is from their update on August 3rd. Their take is interesting in light of the fact the S&P 100 is close to making a new post 2009 recovery high. While breadth may be somewhat weak, it is nowhere near as bad as it was going into the fall 2007 top.

  7. willid3 says:

    ETF’s are coming after your 401k money

    a new way to get your savings

  8. willid3 says:

    what happened to the 25 who lead or were involved with the creating the great debacle?

  9. formerlawyer says:

    Cost of global warming broken down by analysing water resources: $1Trillion and 7 million jobs?

  10. Mike in Nola says:

    Payback is a bitch.

    Expect to see much more Apple bashing by the big carriers. Jobs was ruthless with them when the iPhone was a hit squeezed them for the biggest subsidies he could in addition to his users devouring their bandwidth. The burden may be more than Sprint can bear.

    The poor quality of the iphone as a phone gave AT&T’s network a lot of bad press because it was blamed for all the dropped calls. I still remember my sister in law having to stop alongside the road and text her husband because she couldn’t maintain a call to a landline. And this was in metro Houston. Mysteriously, the problems don’t occur on Android and Windows Phone devices.

    Now that there are cheaper, quality alternatives to the iphone, the carriers can make more selling Android and Windows Phones and they have every business reason to push them. It may be this that saves Nokia’s skin.

  11. VennData says:

    Mitt Romney’s attack on “green jobs”

    “…President Barack Obama’s “unhealthy” obsession with “green jobs.”

    I HATE people who have green jobs. I’m going to sing a hatecore song about it: …ahem…


  12. VennData says:

    Home Prices Climb as Supply Dwindles

    “…The Federal Reserve said Monday demand for mortgages to purchase homes jumped during the second quarter by the largest amount in at least three years, according to a survey of bank lending officers…”

    “…Prices rose by 2.5% in June from a year ago, and by 6% from the previous quarter, said CoreLogic Inc., a Santa Ana, Calif., data firm. The quarterly jump was the largest since 2005…”

    The reason retail is a little light is everybody’s buying houses. This bodes well for future retail sales, since we are taking retail sales and moving them into the future.