My afternoon train reads:

• The dirty secret of economics education (Worthwhile Canadian Initiative)
• Apple’s iPhone 5 as loss leader (Fortune) see also Wal-Mart selling Apple’s iPhone 5 at big discount (Reuters)
• The reflection of the market’s shadow (Delusional Optimism)
The Quest for Prosperity:  An Economics Masterpiece You Should Be Reading Now (Bloomberg)
• Greeks Can’t Find Euros to Buy Heating Oil in Winter Economy (Bloomberg)
• We’ve Nationalized the Home Mortgage Market. Now What? (ProPublica)
• Recession Forecasting Ensemble (RFE) and market timing (Recession Alert)
• The best-laid plans: How we update our goals based on new information (News at Princeton) see also Behavior Lessons for Leadership and Teamwork (Stanford Graduate School of Business)
• Another Earth Just 12 Light-Years Away? (Science Magazine) see also CERN now 99.999999999% sure it has found the Higgs boson (ExtremeTech)
• Here are the 30 startups set to help shape the future of the music industry at Midem (The Next Web)

What are you reading?


In a World Full of Risk, Why Are Investors So Calm?

Source: Businessweek

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.

10 Responses to “10 MidWeek PM Reads”

  1. swag says:

    RWNJs (Instaputz Glenn Reynolds and perennial douchbag Tucker Carlson’s Daily Caller) mount intimidation campaign against Professor Eric Loomis

  2. swag says:

    Apologies for the typo on “douchebag”.

  3. Singmaster says:

    I don’t understand why Obama doesn’t appoint Bloomberg as new Treasury Secty.
    Let Bloomberg whip the two sides into a decent compromise with real sustainability on this fiscal cliff nonsense and then, turn him loose on helping the Biden get realistic gun control legislation enacted.

  4. Jack Damn says:

    - Google Santa Tracker

    On Christmas Eve, Google Santa Tracker will use Google Maps to track Santa’s journey around the world.

    - Why the World Won’t End on December 21 [NASA Video]

    Don Yeomans, head of NASA’s Near-Earth Object Program, stated that no known asteroids or comets are on a collision course with Earth.

    - Alaskan Pigeons: (photo)

  5. Seaton says:

    RE: Dirty Secret about Economics education essay, I pondered the same revelations in 1971. By 1976 (oops) I’d graduated, found no jobs in typical businesses, and instead followed the job/career I enjoyed: Firefighting. Got much more training initially, and over the 21 years. ‘Bout 10 years in, I was asked to “run the stockroom,” which meant deal with purchasing supplies (and more, later) & stuff needed daily for the infrastructure needs of a fire department. I immediately used my beginning Econ & Accounting classes to discover the errors made by ignorance of staff that just didn’t want to deal with it. I set up a better central receiving & distribution system, and participated in the computerization & inventory-management system to come. Took 3 people to replace me, & I went back on fire trucks. I suppose the best part of my college education was that I wasn’t allowed to not spell correctly, be grammatically inferior, and typically undisciplined in the submission of my works. The behavioral econ classes, international econ & management classes prepared me well enough for my future work-life…and even the investing class has been beneficial ever since. Hmm… I still like that intriguing quotation I can’t recall accurately, but it went something along the lines of, “the purpose of all good education is to prepare you to know whether or not the other person is honest or lying to you,” which really goes well with current financial situations one finds oneself within. Your column helps, BR

  6. S Brennan says:

    REF: “An Economics Masterpiece You Should Be Reading Now”

    Dunno BR,

    If I’d want to take advice from Justin Yifu Lin; consider:

    1] As a captain in the Republic of China Army (ROC Army) in Taiwan, he defected to Mainland China on May 17, 1979,

    2] A year after he defected, he was declared “missing” by the ROC Army and his wife claimed the equivalent of US$31,000 from the government.

    3] His wife and their children joined him years later when both of them went to study in the United States.

    4] While an officer in the ROC Army, Lin was held up as a model soldier [and given privilege beyond his rank]; after his desertion

    5] ROC originally listed him as missing but in 2000 issued an order for his arrest on charges of desertion.

    In a letter written to his family a year after his defection, Lin stated that “based on my cultural, historical, political, economic and military understanding, it is my belief that returning to the motherland is a historical inevitability; it is also the optimal choice.”

    Being a traitor…and most likely a turncoat spy will get you shot in most countries…particularly when you have given great privilege and access. My guess is his treatise serves himself…and just as likely China’s interest in swallowing the resources of the undeveloped world.

    Imperial powers [and China is one of the oldest] have a long history of handing out prescriptions to the undeveloped world…most 3rd world nations get quite sick after taking the medication.

  7. Iamthe50percent says:

    Re another Earth 12 lights away. I wonder if it has intelligent life as screwed-up as this Earth’s.

  8. constantnormal says:

    … analysts are (again) missing the point … as has been pointed out at every one of the past several Apple earnings presentations, while iPhone sales are the largest fraction of Apple’s revenue, and show no signs of slowing their growth, iPad sales growth has out-paced iPhone sales from the very start, and iPad sales revenue might just surpass iPhone sales revenue this quarter, without any slacking of growth from iPhone sales … one is not required to be a genius to notice this, as Apple trots out charts four times a year showing this, and explicitly tells this to the idiot analysts …

  9. The Leuthold Group constructs their Risk Aversion Index (RAI) with a combination of market based indicators, including credit and swap spreads, implied vol, currency moves, and commodity prices. No doubt quantitative easing is repressing market fear.

    They also note that periods of low risk aversion tend to run longer than streaks of elevated risk aversion. How long this time? We don’t know but we’re going to think long and hard over the holiday about the potential macro swans in 2013.

    Here’s are eight starting thoughts we will contemplating and researching:

    1) Japan pushes too hard with fiscal and monetary easing and tips over into a debt and currency crisis; 2) markets begin to fret over France and Italy; 3) the U.K. starts to have trouble and doubts increase its over debt sustainability; 4) inflation begins to creep up calling into question the sustainability of global quantitative easing due to the rise of stagflation; 5) increased political instability caused by stubbornly high unemployment; 6) the U.S. can’t get it together politically to implement the necessary structural economic and fiscal reforms; 7) China’s financial and credit problems surface and create panic in the local financial markets; and 8) geopolitical tensions in Asia get hot.

    How will these affect our trading? We’ll go with trend, keep them on our radar and try to find cheap avenues to express or hedge the swan events.