My morning reads:

• Investors Are Most Optimistic on Stocks in 3 1/2 Years (Bloomberg) see also Investors’ Mood Catches Up to Market’s Message (Yahoo Finance)
• The Dow Theory’s buy signal (MarketWatch)
naked capitalism’s whistleblower report: BofA Foreclosure Review shows orchestrated coverup   Part I and Part II
• Firms Keep Stockpiles of ‘Foreign’ Cash in U.S. (WSJ)
• America: The Next Energy Superpower? (The Diplomat)
• Existing Home Sales Decline as U.S. Supply Dwindles: Economy (Bloomberg) but see The Media Is Misreporting The Housing Turnaround Story (Business Insider)
• When Tax Cuts Were a Tough Sell (Economix)
• Apple May Face First Profit Drop in Decade as IPhone Slows: Tech (Bloomberg) see also Apple Trailing China’s Coolpad Shows Need for Cheap iPhone (Bloomberg)
• A Photography Based Proof Why We Most Definitely Did Land On the Moon (fstoppers)

What are you reading?

 

Top-Line Numbers Coming In Strong


Source: Bespoke

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.

20 Responses to “10 Mid-Week AM Reads”

  1. VennData says:

    Clinton testifies on Bengazi

    Well, I’ll be. Another data point supporting the craven, say-anything nonsense of the right wing media who is there to take your money,.

    http://thelede.blogs.nytimes.com/2013/01/23/live-coverage-clinton-testifies-on-benghazi-attacks

    There’s just nothing worse than that feeling that you’ve been ripped off, is there?

  2. gambitross says:

    Barry,

    Check out this link. A candidate for Philadephia controller recently put this together using public data, I think every major city should make this type of information available to the public, although I’d prefer personal names weren’t on it (just position). This provides a very interesting insight into how our major cities spend $’s.

    http://budget.brettmandel.com/

  3. swag says:

    More Facebook shenanigans at the expense of users –

    “It’s hard not to see this as intentionally manipulative and misleading on Facebook’s part. It has already made a preliminary $20 million settlement over its use of Sponsored Stories, but that’s not the worst of it. A story from ReadWrite by Bernard Meisler documents a boatload of cases where friends had supposedly liked brands that the writer couldn’t imagine them ever liking. Some of these friends were no longer even alive! Needless to say, when he went to these friends (or friends of friends in the case of the deceased) and asked if they had liked a particular brand, none said that they had. A Facebook spokesman maintained that all likes are the result of liking activity and possibly “those people ‘liked’ something by accident, by inadvertently pressing a button, perhaps on the mobile app.” Meisler (and I) find this explanation highly questionable. It does certainly seem like something fishy going on with Likes on Facebook.”

    http://www.forbes.com/sites/anthonykosner/2013/01/21/facebook-is-recycling-your-likes-to-promote-stories-youve-never-seen-to-all-your-friends/

  4. Jim says:

    I first saw this on Instapundit.com and couldn’t stop laughing.
    “WHEN YOUR CRIMINAL PLANS INCLUDE A “GETAWAY DONKEY,” you might want to just rethink.”
    referring to this article:
    http://www.telegraph.co.uk/news/worldnews/southamerica/colombia/9815243/Getaway-donkey-ruins-robbery.html

    We all need a good laugh and this one did it for me.

  5. ben22 says:

    I’m sorry but trying to present Richard Russell’s version of the Dow Theory as a “market timing system” is way, way off. Quite clearly from the letter Russell participates in a subjective interpretation of the theory. Anyone that ever got Russells Dow Theory letters, even for a short period should be able to attest to that.

    there are many methods applied to dow theory today by technicians to use it for market timing, especially for those that wish to employ it on a short term basis, in its traditional form thats not what it will do for you

    also, its a fine line calling hamilton dow theory’s “originator”…perhaps you can claim in the traditional “dow theory” as we know it today he was the one that formed it but it still originated with Charles Dow of course….then again, a lot of people on wall st. believe that Mandlebrot “discovered” fractals in markets….but Elliott wrote a book on them decades earlier

  6. DeDude says:

    If the companies have all this foreign “cash” parked in US bonds it would it not be bad to let them repatriate it? Right now they are helping to hold the rates low on government and private sector loans (used to invest in the economy), if you let them take it out then those investments would be hurt by higher rates.

  7. ben22 says:

    video on the moon was good, thanks for sharing that…of course, he does not discuss the farside of the moon and the alien space station located there

    ;-)

    (this is a joke, in case anyone is about to lose it)

  8. hue says:

    Cat’s 200-mile trek home baffles scientists http://nyti.ms/WfP93M

    “I really believe these stories, but they’re just hard to explain,” said Marc Bekoff, a behavioral ecologist at the University of Colorado. “Maybe being street-smart, maybe reading animal cues, maybe being able to read cars, maybe being a good hunter. I have no data for this.”

  9. willid3 says:

    if companies park cash in US treasuries, is it really offshore? and considering how little they get in interest on treasuries, why are they in them? must be the safety issue. the last time we did one of those get out of higher tax deals for repatriating money, it didnt work well. jobs did not get created. and no US investment happened. the most that could be said was companies bought back their stock, or had a one dividend, or increased theirs one time.

  10. James Cameron says:

    > Investors Are Most Optimistic on Stocks in 3 1/2 Years

    It’s interesting to contrast this with the (still) stark views of Roubini, Farrell and Jim Rogers, among others.

    “Of the 65 market ‘gurus’ tracked during the last few years by CXO Advisory Group, the median accuracy for market calls is 47%. If that sounds low, or you wonder about the quality of the pundit, consider that the list includes such well-known names as Bill Fleckenstein (37%), Jeremy Grantham (48%), Bill Gross (46%) and Louis Navellier (60%).”

    2012 Was Good for Stocks, Bad for Stock Pundits
    http://goo.gl/KgoC8

    America Has Yet To Wake Up To The Full Extent Of Its Fiscal Nightmare
    http://goo.gl/URavQ

    Time bomb to market meltdown ticks louder
    http://goo.gl/jqJec

    Then again, 2013 is just getting underway.

  11. VennData says:

    62-Year-Old With Gun Only One Standing Between Nation And Full-Scale Government Takeover

    http://www.theonion.com/articles/62yearold-with-gun-only-one-standing-between-natio,30984/

  12. willid3 says:

    myth busters also took on the moon landings myth.
    and say it was busted

    http://dsc.discovery.com/tv-shows/mythbusters/mythbusters-database/apollo-moon-landing-pictures-fake.htm

    we did land

  13. thomas hudson says:

    gambitross:

    slightly different version, but this site allows me to find out how much my kid’s teacher makes, including benefits, adjusted for the fact she works 10 months of the year.

    can also look at federal, county, politicians, etc.

    http://www.buckeyeinstitute.org/

  14. rawburn says:

    Beneath the Headline Numbers, December Retail Sales Worst in 20 Years (U.S.)

    http://econintersect.com/wordpress/?p=32654

    The year to year change in real retail sales, ex gasoline prices, and adjusted for inflation in December was a decline of 0.26%. This compares with a year to year gain of 2.8% in November, and it ends a string of year to year gains going back to January 2010. This analysis uses not seasonally adjusted (NSA) data due to the inaccuracy and potentially misleading nature of seasonally adjusted data.

  15. Jojo says:

    Let elderly people ‘hurry up and die’, says Japanese minister
    Taro Aso says he would refuse end-of-life care and would ‘feel bad’ knowing treatment was paid for by government

    * Justin McCurry in Tokyo
    * guardian.co.uk, Tuesday 22 January 2013 08.42 GMT

    Japan’s new government is barely a month old, and already one of its most senior members has insulted tens of millions of voters by suggesting that the elderly are an unnecessary drain on the country’s finances.

    Taro Aso, the finance minister, said on Monday that the elderly should be allowed to “hurry up and die” to relieve pressure on the state to pay for their medical care.

    “Heaven forbid if you are forced to live on when you want to die. I would wake up feeling increasingly bad knowing that [treatment] was all being paid for by the government,” he said during a meeting of the national council on social security reforms. “The problem won’t be solved unless you let them hurry up and die.”

    Aso’s comments are likely to cause offence in Japan, where almost a quarter of the 128 million population is aged over 60. The proportion is forecast to rise to 40% over the next 50 years.

    http://www.guardian.co.uk/world/2013/jan/22/elderly-hurry-up-die-japanese

  16. Joe Friday says:

    The Media Is Misreporting The Housing Turnaround Story (Business Insider)

    In addition to this misreporting of New Home Sales, there’s the fact that more than 50% of what the weasels at the ‘National Association of Realtors’ report as “SALES” of Existing Homes fall through because the purported buyer cannot subsequently obtain a mortgage.

  17. mathman says:

    So let’s see. All the good jobs went overseas (and maybe still are) to be replaced by menial service jobs like flipping burgers. Now they want to replace burger flippers with robots! They already did this to warehouse workers. Who will be working in ten years? Who will be able to buy anything? Does anyone else see a problem brewing besides me?

    http://www.thenational.ae/thenationalconversation/industry-insights/technology/i-robot-would-you-like-fries-with-your-burger

  18. willid3 says:

    do engines? or the history Siri for those with Iphones

    http://www.huffingtonpost.com/2013/01/22/siri-do-engine-apple-iphone_n_2499165.html

    have heard that the reason there are some glitches is that a lot of what it does is done by servers (no idea where) and that when they are extremely busy they have problems, plus there is also some issues with the internet connection to those servers, and problems with the IPHONE hardware itself (some time the microphone doesn’t exactly send a clear signal)