My afternoon train reading

• Who You Calling the Dumb Money? (The Reformed Broker)
• QUESTION OF THE DAY: What have the economists ever done for us? (Vox)
• Bernanke Spurns Slump Prospect as He Defends Bond Buying (Bloomberg) see also Bernanke Takes On Critics of Fed Policy (WSJ)
• 6 reasons to dump a bad mutual fund (Market Watch)
• Rapid-Fire Traders’ Big Fear: Themselves (WSJ)
• Jobs Outlook Seen Weak as U.S. Companies Reporting Cost Cuts (Bloomberg) see also Romney, Obama both stock-market killers (Market Watch)
Fun with statistics: It’s My Birthday Too, Yeah (NYT)
• Why We Are So Rude Online (WSJ
• Nationwide GOP Voter Registration Fraud Scandal Widens, Criminal Probe Opens in Florida (The National Memo)
• How a rogue appeals court wrecked the patent system (Ars Technica)

What are you reading?

>

Earnings Wizardry

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.

14 Responses to “10 Tuesday PM Reads”

  1. PDS says:

    As you are politically agnostic BR when it comes to mkts, and to be fair, probably best to point out that the Dems also have a new voter fraud scandal brewing in?…….wait for it…..yes you guessed it …..Chicago!

    ~~~

    BR
    : is that a new scandal or an ongoing 100 year Chicago “vote early vote often” scandal?

  2. Bob A says:

    Did I say this would happen a year ago? I’m getting old. I can’t remember :)

    A year ago, the iPad accounted for 81% of tablets in circulation. That has fallen to 52%, with Android-based tablets grabbing a 48% share of the market.
    http://www.businessinsider.com/a-changing-tablet-market-2012-10

  3. thomas hudson says:

    i really hate living in a swing state this time of year:

    http://www.bloomberg.com/news/2012-10-02/ohio-voters-disapprove-all-ads-as-campaigns-take-over-tv.html

    also, study published on NIH website:
    psychohistorical roots of the tea party movement

    Abstract
    Extreme resistance to governmental taxation and authority is derived, according to Freud’s theory of anal characterology, from premature and harshly coercive toilet training, in which a child is forced unfairly and against its will to surrender the products of his eliminations (which represent money, among other things, in the unconscious) to parental authority.

    http://www.ncbi.nlm.nih.gov/pubmed/21553677

    seems a bit of a stretch.

  4. DiggidyDan says:

    Dumb money? I think it’s “Fool me once, shame on you, fool me twice, shame on me!” With the dumb money waking up and realizing they are paying exorbitant fees to wall street crooks for underperformance at best, and outright fraud and robbery at worst. There is no trust left, there, and we are not as dumb as we look and act sometimes when we know we are getting taken.

  5. LLouis says:

    Breaking bad on the house market:

    ” Mystery illness solved when family discovers new home was a meth lab ” (article by Jason Sickles, Yahoo News)

    ”…we had no prior information about the way the home had been used,” Freddie Mac spokesman Brad German told Yahoo News ”

    ” Based on national and state data, Joe Mazzuca (of Meth Lab Cleanup company) conservatively estimates there are 2.5 million meth-contaminated homes in the U.S. “The signs and indicators aren’t always there,” he said. “You don’t always see the meth residue. It’s extremely dangerous stuff.” ”

    http://news.yahoo.com/blogs/lookout/mystery-illness-solved-family-discovers-home-meth-lab-184815233.html

    … so that’s 2.5 million meth-contaminated houses + I guess a few millions more of mold-contaminated houses (from indoor marijuana farming)… I didn’t know the meth mania was that crazy in the U.S….

  6. rd says:

    I find the lack of stories on the NY AG suing JPM (Bear Stearns) regarding MBS fraud very interesting.
    This is either viewed as stale news or there is a general yawning reaction of disbelief that anything more than a wrist slap will occur.
    So when are the people who were making the decisions on these MBS’s going to face criminal investigations?\

    ~~~

    BR: See this http://blogs.smeal.psu.edu/grumpyoldaccountants/archives/779
    and this: http://blog.timesunion.com/capitol/archives/158591/schneiderman-j-p-morgan-units-sold-garbage-as-gold/ and this: http://polhudson.lohudblogs.com/2012/10/02/schneiderman-sues-former-bear-stearns-co/

  7. Robespierre says:

    Reading:

    http://www.teribuhl.com/2012/09/18/what-bear-stearns-whistleblowers-told-the-sec-new-details-of-rmbs-fraud-cover-up/

    What Bear Stearns Whistleblowers told the SEC: New Details of RMBS Fraud & Cover Up
    “Filed in Connecticut state court at the end of August by monolines lawyers at Patterson Belknap is a motion to enforce a New York subpoena that calls for RMBS due dilly firm, Clayton Holdings, to turn over the historical loan review reports that were sent to Bear Stearns. The motion is on behalf of Ambac;”

    For what I see JPM may be in more trouble that its stock seems to indicate

    And my favorite one :

    Permanent Injunction Against Indefinite Military Detention in NDAA Issued by Federal Judge
    http://theintelhub.com/2012/09/13/permanent-injunction-against-indefinite-military-detention-in-ndaa-issued-by-federal-judge/

    She also stated:
    …A key question throughout these proceedings has been, however, precisely what the statute means–what and whose activities it is meant to cover. That is no small question bandied about amongst lawyers and a judge steeped in arcane questions of constitutional law; it is a question of defining an individual’s core liberties.

    The due process rights guaranteed by the Fifth Amendment require that an individual understand what conduct might subject him or her to criminal or civil penalties. Here, the stakes get no higher: indefinite military detention–potential detention during a war on terrorism that is not expected to end in the foreseeable future, if ever. The Constitution requires specificity–and that specificity is absent from § 1021(b)(2)…

  8. willid3 says:

    shrink the economy? seems counter productive as that takes every one with them? while we might wonder just how more growth can occur, to admit that it cant means that every company out there is in worse shape than the government, cause without growth they are all bankrupt
    \http://www.nakedcapitalism.com/2012/10/michael-hoexter-deficit-hawks-obama-romney-bowles-boehner-plan-to-shrink-your-economy-part-2.html

    and not mention, that we will have fewer and fewer jobs

  9. b_thunder says:

    http://thehill.com/blogs/defcon-hill/industry/259431-lockheed-martin-wont-issue-layoff-notices-this-year

    The WH is going to PAY the DoD contractors if they break the law and NOT notify their employees about possible layoffs? Not prosecuting Wall St crime is one thing, but breaking the law? Who does Barak thinks he is, Nixon?

    And on top of that, this action will prevent the working people from looking for new jobs in the course of 60 days before the layoffs. Well, as an employee of a giant DoD contractor, I say Thank you very much Mr. President. I wasn’t going to vote at all, but now i just might…

  10. willid3 says:

    maybe they are a bank?

  11. VennData says:

    PDS, Wow, that SuperPAC money from Sheldon Adleson and the Koch brothers looks like it’s really being put to good use.

    This over reach by these cash laden consultants is going to get them into trouble. Is it any wonder the GOP seems to be stumbling. The SuperPAC ‘non-profit directors who have small salaries and only slight relationships with their outside consulting / advertising / mailing / astroturf firms WANT the GOP to loom bad so they can collect the unlimited funds. Oh the irony.
    Of course, PDS says the other side has the same problem… but forgot to link… PDS you have a job for life loading up these blog comment sites with unsupported, unsubstantiated, drivel. Hire me. I’ve got lots of ideas on how to keep your user name active at low cost during the off-election portion of the cycle, collect focus-group-tested words that commenters read ( hint: ‘asshat’) and suck up to blogmasters… ‘Hey BR, was thinking of loading up your old Kudlow appearances on YouTube… mind if I link?’

  12. Greg0658 says:

    bthunder .. interesting take on that story .. maybe its more a German plan for the workforce ie: pay to work less and not go into unemployment halls

    and more on the insinuation .. one could say the capital pushers are knifing the laborers for political advantage just as much .. who made who

    capital pushers have $ law / laborers have other stuff at hand
    who made who
    more music less game ie: share