My afternoon train reads:

• Exit polls 2012: Voters blame George W. Bush (Politico)
What could possibly go wrong? FIRE IN THE DISCO! (The Reformed Broker)
• There are actually 9 ‘Cliffs’ investors should be freaking out about (Financial Post)
• Quantitative analysis in fund investing: Fitting Factors Into the Formula (Morningstar Advisor)
• Fixed-Income Strategy: What’s Jeffrey Gundlach Doing? (CFA Institute)
• Why Aren’t People Moving in America Anymore? (The Atlantic)
• Romney Apparently Paid No Taxes from 1999-2007 via Loophole Cutting Mormon Donations (Bloomberg)
• Sandy Aftermath and the Fragility of Complex Systems (Naked Capitalism)
• Where Does Your Nation Rank on Wellbeing? (Harvard Business Review)
• Simply Statistics (Simply Statistics)

What are you reading?


The long and short of it

Source:  Economist

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.

16 Responses to “10 PM Wednesday Reads”

  1. James Cameron says:

    “Karl, no one saw it coming. We wanted to believe Romney would win. We were all blinded to the sad truth that this country is now voting itself welfare and entitlements. Love you Karl – keep fighting.”


    you can tell Karl Rove what you think on his FB page. Of course, there are still a few true believers.

  2. DrungoHazewood says:

    In Romney apparently paid no taxes-My father used CRUTs, and they are pretty sweet. Alas as a 47% er, I’d have to turn my ratty couch upside down. The best I could hope for is a long lost roach would fall out. Now that would be sweet.

  3. willid3 says:

    think political spending by special interests was bad this time around?? think again

    seems it was much much worse in 1896 with the threat of the silver standard

  4. DrungoHazewood says:


    People will believe anything, and sometimes, everything. At 11 I was convinced that Lincoln lived in the family fireplace, but eventually had to face facts. Turned out that scamp was really in the attic. How anyone ever thought MR was anything but a long shot, is beyond me.

  5. StatArb says:

    Rex Ryan’s blaming Bush for the Jets woes

  6. theexpertisin says:

    Great article on Gundlach. Thanks for posting it.

  7. rktbrkr says:

    Romneys biggest problem was 4 years wasn’t long enough to forget Bush.

    The man who wanted to be president used his association with his church to avoid paying taxes and avoid military service in Viet nam – I can’t think of a bigger hypocrite.

  8. Iamthe50percent says:

    Market dropped like a stone fearing dividend taxes will go up. Ha! Ha! Bought some more AT&T for the wife’s Roth IRA this morning. Thanks 1% tax-haters for selling it to her 2% cheaper than yesterday. She will pay no tax ever on the dividends as they are in a Roth. Keep panicking about taxes. Want to sell me some Shell and/or AstraZeneca even cheaper tomorrow? I’m sure people will keep on buying gasoline until most cars are electric (ever?), and people withe Asthma/Emphysema will keep on buying Symbicort even at it’s outrageous price. Obamacare ensures that paying customers will be there. That’s why AZN jumped 8.6% on the SCOTUS decision.

    Tax-allergic 1% keep on selling me good dividend paying companies dirt cheap. I need them to replace the negative interest bonds.

  9. HowardA says:

    I’m not a Romney fan, but the description of the Bloomberg article, “Romney Apparently Paid No Taxes from 1999-2007 via Loophole Cutting Mormon Donations” is misleading and incorrect. According to the article Romney used a tax maneuver to defer a relatively small amount of income. It certainly didn’t enable hime to pay NO taxes. The article faults this maneuver, because it takes advantage of an apparent contribution to the Church, even though the Church gets relatively little benefit.The article isn’t specific, but it appears that Romney invested about a half million dollars into a Charitable Remainder Unitrust (CRUT), This represents less than 0.2% of his estimated $260 million wealth. The article also mentions that each year the CRUT pays about $37,000 to the Romneys which IS taxable.

  10. Giovanni says:

    RE: Why Aren’t People Moving in America Anymore? On the other hand what role is the fact that +/- 30% of mortgage holders are underwater or effectively underwater (after costs of sale)?

  11. Roanman says:

    The Bloomberg article demonstrates perfectly the real issue concerning the way America taxes itself and raises public funds. The tax code is specifically designed to benefit only the elected portion of our government.

    Everybody on both sides of the aisle has there shorts in a knot about “The Rich” and their taxes. The real issue is that EVERYBODY is gaming the tax code. All kinds of income is excluded or at best deferred from taxation because special interests across the entire political spectrum are able to bribe via campaign contributions elected officials to methodically remove bits and pieces of income via deductions or simply flat out ignore huge chunks of income.

    The tax code is one of the pillars of the bitterness that you see all across the country simply because everybody knows for sure that everybody else is getting a better deal.

    You can raise taxes at the margins all you want and the next morning everybody will go to chipping away at it until you find nothing is accomplished except for a more perfected hatred poisoning the country.

    Construct a tax code that treats everyone equally with some fairly high personal deduction and a politically fought out rate that everyone pays regardless of the source of income (company paid benefits are income), without any other deductions …… I’d make it flat because people like to get rich if they can, but you can fight about progressivity (if indeed that’s a word) while you’re fighting about the size of a standard deduction.

    I personally like the notion of a $20,000 personal deduction and a 20% rate on every penny above. The beauty here is that every earner of a like sum would know for sure that every other earner of that amount, paid in the identical amount of tax.

  12. Moss says:

    My quote of the day.

    As long as the GOP keeps relying on the usual hucksters, charlatans, and con artists it’ll keep getting the same results.

    They have allowed the media, namely Fox, to define what they stand for and more importantly against.

  13. a2ricedgti says:

    “Romney Apparently Paid No Taxes from 1999-2007 via Loophole Cutting Mormon Donations” this poorly written headline has been revised to “Romney Avoids Taxes via Loophole Cutting Mormon Donations”

    “No Taxes” was not imply Romney paid no taxes at all…the max value of the CRUT was $750k, probably much smaller than his annual income in any of those years.

    “It paid $36,696 to the Romneys in 2011. ” He probably got that *meager* sum tax free, sure, but once again a tiny fraction of his income/wealth.

  14. Defining Quality says:

    Wall Street scare tactics so we don’ raise taxes on those responsible for wrecking the economy. CentaMillionaire$ and Billionaire$ have corrupted our entire country! Their greed and corruption is singularly responsible for the demise of America! They took Capital owed to our society and shipped it all over the world to EVADE TAXES! CentaMillionaire$ and Billionaire$ exist because the US Government cut their TAXES! Something these societal criminals accomplished by purchasing the mouth organs we continue to elect. Americans are truly stupid! Government is about MONEY. AND OUR GOVERNMENT ONLY CARES ABOUT THE ULTRA WEALTHY!
    The Ultra Wealthy will continue to put us out of work and out of our homes until we shut up!
    Chris Hedges is on the money and we are still a nations of slaves – slaves to the GREED of EVIL MEN!
    “Our masters rely on our labor to make them wealthy, on our children for cannon fodder in war and on our collective chants for adulation. They would otherwise happily slip us rat poison. When they retreat into their inner sanctums, which they keep hidden from public view, they speak in the cold words of manipulation, power and privilege, words that expose their visions of themselves as entitled and beyond the reach of morality or law.”
    The S&M Election