A few reads before you go out to do your last minute shopping on holiday shortened trading day:

Commerce Claus: The behavioral economics of Christmas (TNR)
• Mayan Mindset on the Potomac (Barron’s) see also How can Republicans change their minds? (Economist)
• UBS Libor Manipulation Deserves the Death Penalty (Bloomberg)
• Lessons from a 107-Year-Old Stock Picker (WSJ) see also Any Monkey Can Beat the Market (Rick Ferri)
Farrell: Why we got Facebook and not Mars colonies (MarketWatch)
• Google Ventures in 2012: $300M, 150 companies, and one Nobel Prize (Venture Beat)
• 2013 may look a lot like 2012 (The Buzz) see also Why the Pundits Are Wrong About Big Money and the 2012 Elections (naked capitalism)
Silencing the Science on Gun Research (Journal of American Medical Association)
• Why Louie is the next stage in the evolution of the TV sitcom (AV Club)
• Scientists Report Faster Warming in Antarctica (NYT)

Who’s left on your list?


Push for Cheaper Credit Hits Wall  

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 Monday AM Reads”

  1. VennData says:

    Mormon bishop and GOP Senator Crapo gets DUI.


    Isn’t this what the Reformation was all about? And look it still hasn’t worked.

    The NRA is right, DUI rules will not stop people from drinking and driving. So let’s get rid of that law too, and have drunk school-bus drivers protecting our kids on the road.

    P.S. GOP Reps and Senators are smart to fear Norquist’s threat to run primary threats to the right or the tax apostates. Aiken, Walsh and Mourdock will make formidable challengers in 2014. ROFL!

  2. VennData says:

    NRA clear on gun debate stance: arm schools as protesters break in and wave banners in front of Lapierre


    Are these security features the on that the NRA wants to put into our school, the one with the Codepink lady can break through with carrying a protest banner.

    Now that’ll lose you a little cred. ROFL

  3. Conan says:

    Farrell: Why we got Facebook and not Mars colonies (MarketWatch)

    When I was a boy growing up, my Mother always said ” God doesn’t give you what you want, but what you need” This article reminds me of the opposite, we are serving superficial wants, vs needs of our future. We live for the short term. This trend is a reflection of where society is for the day.

    Look at the evidence:

    1) Short term Corporate thinking of making the number for the Quarter
    2) People don’t get married, more singles than ever.
    3) Dysfunctional Federal Government
    4) Every year what there are less children.
    5) Savings, it is a society built on credit, not investment or savings.

    I am sure there are many more examples. Neither Government, Industry nor the Individual as a whole, there are always exceptions and thus by definition they are few and far between, willing to do more than live for the moment and in the here and now.

    Just amazing that we complain as to where we are today. There is no such thing as LUCK, you get out of life at best what you put in it. We are the grass hoppers, not even close to being ants, God forbid it snows hard.


    BR: Was that God who said that or Mick Jagger?

  4. DeDude says:

    I guess the GOPsters have the same approach to guns as they have to global warming. They don’t want anybody to collect no stinkin’ data – cause they already know what the conclusion is and weaker minds may be distracted by facts.

  5. Joe Friday says:

    Speaking of ‘bad ideas that never die’, caught the founder of SHOPPERTRAK on the news claiming that retailers had “very strong results compared to last year” on Black Friday, and that retailers are hoping that shoppers will return and deliver the very same “strong results” over this past weekend.

    Apparently wooden stakes no longer work.

  6. CB says:

    A thought provoking article with some book recommends:
    “We need to build an entirely new market system, not just patch up the old one.”

    Beyond Mechanical Markets
    Frydman and Goldberg
    It was not greed and irrationality that turned the routine financial bubble of the last decade into a global disaster. It was the quasi-religious belief among politicians that “the market is always right” … shows these theories were not just empirically false and dangerous in political practice – they were logically incoherent too.”

  7. rd says:

    Re UBS Libor Manipulation and Death Penalty:

    Everybody keeps focusing on the cmpanies themselves. however, despite the protestations of the US Supreme Court, companies are inanimate objects that are run by people. As long as the punishments are meted out to the shareholders of the companies and not the day-to-day decision makers, the fraud will continue. If the traders and executives can just move to another company after destroying the first one, then the cycle will continue. The bad behavior will stop only when people are going to jail, losing their ill-gotten gains, and getting barred from the industry. Fines of companies make nice headlines but are really just a cost fo doing business.

    If they can’t prosecute dozens, if not hundreds of people, up to high levels in companies with the evidence that they have showing willful intent to manipulate markets then the laws need to be looked at very seriously.

  8. [...] Barry Ritholtz, Arthur Kellerman and Frederick Rivara describe how the Republicans in Congress shut down research [...]

  9. ilsm says:

    Facebook, not Mars colonies……………

    There are 180 million better things to do than; build pyramids or grow technocrats just to say “we got people to Mars”.

    “Because America’s government no longer thinks long-term, no longer invests” …..except in things like the F-35 which is welfare for inept technocrats, a trillion and a half bucks over the next 25 years!

    The war profiteers are doing just fine and their take is more than half of the 40% of federal outlays for crony capital aka corporate welfare.

    NASA could not keep the space shuttle running on any schedule, that is not for lack of money it is for the ineptness and the welfare for failed technocrats factor.

    ‘Merica’s gumint thinks long terms how to keep the green flowing so the inept war profiteers don’t get caught.

  10. RW says:

    The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World (ht MT)

    An NBER working paper (that will cost you $5 to read if you don’t work at an institution that subscribes or subscribe yourself) but the abstract provides the money quote as a good abstract should:

    Our work demonstrates that financial markets, by their very nature, cannot be Pareto efficient, except by chance. Although individuals in our model are rational; markets are not.

    It is not necessary and certainly not sufficient to claim that (a) individuals are irrational therefore (b) their aggregate behavior as represented by markets must be irrational too — it is never safe to assume shared behavior or even shared variables between hierarchical levels (witness the Paradox of Thrift) — and these investigators provide a case in point: A couple minor tweaks to a standard, rational agent model results in inefficient allocations of risk.

  11. cyaker says:

    Why we got Facebook and Not Mars Colonies. I wonder if Lewis Powell and Grover Norquist had anything to do with it? Some things need government and ever since Powell’s memo followed by Reagan, Government has been the problem and not the solution.

  12. sellstop says:

    One more thing about guns.
    I own several. Several hunting rifles and three handguns. They are fun to shoot. The semi- automatic pistols are fun to shoot.
    But when I mentally rehearse what I or my wife might do in the event of an intruder into our home my first idea is that I want to get the revolver first, not the Ruger DC95 auto. And the reason is this. Reliability.

    Let me put it this way. I have relatives in Alaska. I get quite a bit of Alaska “lore” shoveled my way. Lots of stories of hunters, etc… And I have yet to see in all of the stories of hunters in Alaska a hunting guide who carries a Glock, or a Sig Sauer, or a Ruger DC95 to defend against the unexpected grizzly bear attack. Every one carries a large caliber revolver. It will not jam.

    The argument for large capacity semi-auto handguns as necessary for home defense is bunk. The average person would be better off, by far, with a revolver. They are more reliable, they don’t need to be kept clean to operate properly and they are simple to use.

    When the NRA representative trys to debunk the arguments of gun control advocates with his “superior” knowledge of firearms don’t let him fool you into changing the subject. Auto and semi-auto weapons are made for offensive operations in the hands of trained professionals. Military, police, or hunter, hunting is an offensive operation. (NO pun intended) But the configuration of the “assault” weapon is not made for hunting. It is made for the military. The only reason the police use them is due to the escalation of violence and weaponry in the last decades.
    Actually a shotgun is the best weapon for home defense.


  13. Ridge Runner says:


    Gun Control and the Reduction of the Number of Arms, Franz Csaszar

    Top 10 Myths About Mass Shootings
    By James Alan Fox

    The Copycat Effect