My afternoon train reading:

• Rethinking Robert Rubin (Businessweek) (I always thought he was a weasel)
• Shiller: The Narrative Structure of Global Weakening (Project Syndicate)
• PIMCO, DoubleLine, TCW big winners from Fed’s QE3 assault (Reuters)
Investors unfiltered: Common Manager pitfalls to avoid in meetings (Hedge World)
• Manipulation Possible in Benchmarks Around the World (Businessweek)
• Tax Credit in Doubt, Wind Power Industry Is Withering (NYT)
Good Inflation Tool: Your Money’s Worth Over Multiple Years (Inflation Trends)
• A Conservative History of the United States (New Yorker)
• Do Like Steve Jobs Did: Don’t Follow Your Passion (Fast Company)
• The Filming Locations of Annie Hall: New York, You’ve Changed (Scouting NY)

What are you reading?


China’s CIC Makes Investing Shift

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.

13 Responses to “10 Thursday PM Reads”

  1. slowkarma says:

    I don’t read many economic/financial sites that allow comments, but I’ve noticed that comments on this site tend to be gloomy in terms of “animal spirits.” Was there ever a time here when people were actually generally happy and positive about economic conditions? (That’s a real, not rhetorical, question to which I do not know the answer.) However, if Schiller is correct — and I think in a general sense, he probably is, though he might also be overcooking his animal spirits theory — that would suggest that the gloom itself is responsible for a good share of the difficulty we face. If we could just cheer everybody up, much of the problem would go away…


    BR: Its not a random sample . . .

  2. RW says:

    Four Histories of the Right’s 47 Percent Theory.
    The “theory” is grounded in ressentiment and xenophobia as well as a simple ignorance of facts but there are many who none-the-less appear to regard it as a critical trope in some kind of Manichean, quasi-Randian struggle between ‘good’ makers and ‘evil’ moochers so tracing its roots and variations remains a useful sociological exercise; four analysts/pundits take their shot at it (ht Mark Thoma).

  3. VennData says:

    Conservative History Ommisions: 2010-present – Tammy Duckworth brags about war and stuff, not that I’d really like to talk about it – Joe Walsh

  4. hue says:

    to go with Conservative US History (is this piling on?) In New Campaign Strategy, Romney to Have Mouth Wired Shut Until November

  5. Bob A says:

    She’s a fortune teller besides being Princess Charming
    “If we don’t run Chris Christie, Romney will be the nominee and he will lose to Obama.”

  6. ReductiMat says:

    Re: Do Like Steve Jobs Did: Don’t Follow Your Passion

    The author needs a lesson in statistics. I knew many people like the young Steve Jobs. All of them didn’t turn out like Steve Jobs. I knew people who were passionate about things which society found useful. They are doing well.

    Basing anything on the edgiest of edge cases is a waste of time at best.

  7. DSS10 says:

    Too good not to share:

    ““First and foremost, I would like to offer a heartfelt apology to all the whores, junkies, bums, and grime-covered derelicts out there who make up nearly half our nation,” a visibly contrite and solemn Romney said outside a campaign stop at a local high school. “Let me assure you that I in no way meant to offend any of the putrid-smelling, barefoot masses out there. My campaign is not about dividing this nation, but about bringing all sides together—the rich, elegant members of the upper class, as well as the 47 percent who are covered in flies and eat directly from back-alley dumpsters.””,29603/

  8. algernon32 says:

    In a recent Paul Volker interview, at the end he is asked to name 5 of his financial heros.
    One of the 5 was Ray Dalio. Volker was almost gushing about the research capability of Bridgewater rivaling that of the Fed.

    A quick skim of “How the Economic Machine Works – Leveragings and Deleveragings” would lead me to think that Dalio could go toe to toe with Bernanke on the history of the Great Depression.

    After Volkers comment, I am starting to think it could be the Feds playbook for the next few years.

  9. nofoulsontheplayground says:

    Mark Hulbert – Marketwatch, “Stocks Future Return: Just 5.6% Annualized” Commentary: Model has enviable record forecasting 10-year returns.

    This is also close to the Hussman’s figure of a 4% annual return over the next decade cited in his recent letters.

    All of this seems fits well with the longer cycle models that suggest a moderate choppy rise into the year 2022, followed by accelerated growth into the year 2036.

  10. Greg0658 says:

    slowkarma – someone once said in here (from memory – so paraphrased)
    “when it comes to big pictures stuff – if the solution is to hard to take – a cozy option will be found – we humans do that”

    now go shopping – put it on the credit card – no matter what – the OpSys has your back .. fire a $ off with some velocity – the OpSys will love ya … I’d be remiss to not mention the Sheriff may come a’knockin, but, be a soldier for capitalism and your country, sign on the line
    thanks rest of the thread for making hit “Submit Com” that much easier
    might I suggest an iPhone5 – there I got in on the MSM adHocking
    stand in line for issue #5in5Yrs – put it under the C tree – but wait to unwrap it – might be worth more than gold soon

  11. PeterR says:

    5 reasons not to get iPhone 5:

    The dropping of Google Maps by iOS 6 is a deal breaker on its own IMO, especially when the new Apple substitute apparently does not work all that well.

    Would Steve Jobs have released such an incomplete product? No IMO.

    Did the jingle of Santa’s sleigh bells hasten this? Yes IMO.

    Sad for Apple . . .

    Have a good weekend.

  12. PeterR says:

    mathman’s link just above is a “must read” IMO. We live in scary times.


    “Brebner and Xiao are pretty frank about how levered up the financial system is at the moment, and they warn that the next shock will be totally involuntary and unexpected.”