My afternoon train reading:

• Wall St engineering revival of CDS (FT.com)
• ‘Knight’mare Triggered Volume Plunge at Knight Capital Dark Pool (WSJ)
Hilarious! EconoTrolls: An Illustrated Bestiary (Noahpinion Blog)
• Filling Geithner’s (Small) Shoes (HuffPost)
• Transportation Stocks Flash Hazards (WSJ)
• Apple iPhone 5’s Thin Display Drives Supply Shortfall (Bloomberg) see also Google’s Schmidt Says Up to Apple to Decide on Maps App (Bloomberg)
• The formative years of the modern corporation Center for Global Economic History
Good GOP! Republicans Push Bill to Help Foreign Science Graduates Stay (NYT)
Bad GOP!  Republicans Champion ‘Voluntary Taxes’ (Economix)
• Humans Can Live With Giant, Hungry Predators, We Just Need To Take Different Shifts (Fast Company)

What are you reading?

 

Transportation Stocks Flash Hazards

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.

17 Responses to “10 Tuesday PM Reads”

  1. phoneranger says:

    Please stop with the Dow theory… already. It’s out of date and noisy. Here’s a better chart to look at viz. 52-week moving average of cyclical rail carloadings (i.e. no coal, grain, containers) just economically sensitive steel, lumber, crushed stone,etc.) . When the YoY average turns, the economy turns. And so does the market. http://public.tableausoftware.com/views/iRailfax/52WeekMavgGroups?:embed=y

    ~~~

    BR: You apparently missed this morning’s Reads link on Transportation average not the bellwether presumed.”(I am an equal opportunity basher)

  2. Oral Hazard says:

    Noahpinion FTW. Any post that references Feynman, Feynman’s Cargo Cult Science AND the Dahleks can’t be wrong.

  3. Mike in Nola says:

    BR: Have an easy fast.

  4. Mike in Nola says:

    Looks like austerity is going over good in Spain.

    http://www.bbc.co.uk/news/world-europe-19712203

  5. Pantmaker says:

    I would say don’t listen to these goofballs…this also means don’t do the opposite of what they say…just pretend they don’t exist.

  6. James Cameron says:

    > 96 percent of Americans have taken advantage of U.S. social programs

    A large number of people benefit from the so called “submerged” benefits, but many either aren’t aware of it or don’t think of them as benefits. The mortgage interest deduction is the largest tax expenditure, followed by the combined net exclusion of contributions to and earnings of employer-provided and individual pension plans and the exclusion of employers’ contributions for their employees’ medical insurance premiums. These generous perks are generally enjoyed by higher income groups, and cost the US Treasury considerably more than the tax deductions and credits available to the lower income brackets . . . more or less Romney’s 47 percent. They are also the “tax loopholes” Romney refuses to name in his tax plan before the election because of their popularity.

  7. Unsympathetic says:

    Incorrect, Barry. The only reason the GOP is pushing to get “foreign graduate students” to stay is so that companies – er, GOP constituents – can pay lower salaries to US graduates for similar jobs. God himself forbade students to graduate and find jobs that could both afford them a decent life and pay off school debt, you see.

    Foreign grad students have to have sponsored visas [ modern indentured servitude ] to work in the US. There’s more than enough US citizens with the appropriate skills – but companies simply don’t want to pay anything close to the going rate for those skills. The “not enough people to fill jobs” meme is a blatant lie.

    This is especially prevalent in all engineering disciplines.

  8. CB says:

    Republicans champion ‘voluntary taxes.’
    The Buffet Rule Act of 2012? What a farce! It’s not even a Rule it’s merely a suggestion.
    Why not Pony and Ice Cream for Everyone Rule of 2012 – it’s just as useful.

  9. James Cameron says:

    > The only reason the GOP is pushing to get “foreign graduate students” to stay is so that companies – er, GOP constituents – can pay lower salaries to US graduates for similar jobs.

    Good point.

  10. Bob A says:

    Has the Innovation Curve Come and Gone for Apple (NASDAQ:AAPL)?
    (Yes. but they’ll still sell lots of phones)
    Read more: http://www.minyanville.com/sectors/technology/articles/apple-innovation-dead-apple-iphone-5/9/25/2012/id/44353#ixzz27XzX9H4S

  11. readerOfTeaLeaves says:

    George Monbiot, on how desperately the economic parasites insist on being called ‘entrepreneurs’.

    With interesting stats.
    http://www.monbiot.com/2012/09/24/romnesia/

  12. Mike in Nola says:

    Using foreign workers to keep wages lower is not just a ploy of GOP constituents. Microsoft, which I think of as primarily a Dem company, e.g. Bill Gates had his father campaign against cutting Estate Taxes, has taken advantage of HB1 visas extensively.

  13. nofoulsontheplayground says:

    Denis Oullet, “The Rule of 20 Equity Valuation Method”

    http://www.news-to-use.com/2010/11/the-rule-of-20-equity-valuation-method.html

    This is a fascinating look at a valuation method that is simple, yet effective. It’s also not a bad tool for macro market timing.

  14. nofoulsontheplayground says:

    John Mauldin’s “Outside the Box” has an entry from Denis Oullet this week.

    “What If the Fed Has It All Wrong?”

    http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2012/09/25/what-if-the-fed-has-it-all-wrong.aspx

    Denis does a nice job here using charts and fact-based analysis to break down the impact of the QE’s and the likely course of the market in the current economic environment with the implementation of QE3.

    It is in this article that I found the “Rule of 20″ valuation method shown in the comment above.

  15. 10x25mm says:

    MarketWatch ran an Andy Xie piece from Caixin Online on the unintended consequences of QE3 and its predecessors:

    http://www.marketwatch.com/story/the-emerging-headache-of-qe3-andy-xie-2012-09-26?link=MW_story_insert

    The Chinese perspective of Fed actions is interesting.