Archive for January, 2013
My morning reads:
• Capitulation Everywhere (Hussman Funds) see also Assume Bull Secular — How Do You Justify It? (csen)
• When Economists Agree, Start Worrying (WSJ)
• The Fed Is More Out of It Than You Thought It Was (Bloomberg) see also At Fed, Nascent Debate on When to Slow Asset Buying (NYT)
• From $100-e-mails to $300,000 for photocopies and meals, how Nortel racked up a $755-million tab (The Globe and Mail)
• Why Deleveraging Still Rules Markets in 2013 (Bloomberg)
• How Newegg crushed the “shopping cart” patent and saved online retail (arstechnica)
• The Biggest Housing Bubble in the World Is in … Canada? (The Atlantic)
• Apple’s stock and earnings don’t go hand in hand (The Tech Block) see also Apple reports one of the largest corporate earnings in the history of the earth, stock down 10% (updated) (9TO5Mac)
• Airport Altruism (enRoute)
• Pictorial: Chicago’s Freezing Fire (The Atlantic)
What are you reading?
Overbought and Oversold Markets
Category: Financial Press
It Was Not a Free Lunch: The True Cost of the AIG Bailout James Tilson and Robert E. Prasch January 24, 2013 “If it’s too good to be true, it probably is.” This old adage came to mind on December 11, 2012 when the U.S. Treasury made the announcement, reiterated unthinkingly by the…Read More
My Sunday Washington Post Business Section column from yesterday — Keep it simple, avoid the pitfalls — described 10 ways to keep your investing simple. Here are my 10 (plus 2 corollaries) Simplify Your Investing 1 Go passive. 2 Diversify across asset classes. 3 Be mindful of valuation. 4 Dollar cost averaging. 5 Keep costs…Read More
Back from a long week of travel in the frozen northern tundras. I have a lot of things on my agenda this week, and a few interesting posts coming up. Be back soon . . .
The Godfather Collection, Coppola Restoration [Blu-ray] $20 I missed this while traveling last week — it was as low as $17.99 — but its all 3 Godfather movies on Blu Ray for $20, fer crying out loud. THE GODFATHER THE GODFATHER PART II THE GODFATHER PART III Plus these additional features: Featurette: “The Masterpiece That…Read More
Bursting Gas Bubble 60 Light Years Across. Courtesy of ESA Forget the Housing, Bond or Derivatives Bubbles … Fraud Is the Biggest Bubble of All Time The housing bubble which burst in 2007 or so was the biggest bubble of all time. Many argue that the bubble in U.S. bonds has surpassed the housing bubble…Read More
Category: Think Tank
On Friday, I was heading home from a long week on the road. Around lunchtime, I land at O’Hare where I went through U.S. customs (easy!) and then switch planes for the last leg home.
On the rail shuttle between terminals, I had a few minutes. I scroll through Twitter to see what was going on, and BAM! The Tweeps are ablaze with excitement, about the Best. Television. Ever.
This pissing match began on Bloomberg on Thursday, with Trish Regan interviewing Carl Icahn one-on-one (video, article). The next day, it moved to CNBC, where Bill Ackman and Carl Icahn had gotten into an even bigger pissing match, live on the air. The reaction was breathless: “Greatest Moment In Financial TV History” Business Insider declared.” HuffPo declared it an “Epic CNBC Brawl.”
And it wasn’t just the Content Farms pushing SEO driven headlines. Even the Christian Science Monitor wrote about “Bickering billionaires go public.”
Reading through the commentary was strangely disconnected. People seemed genuinely excited about things that were rather mundane (Cat fight!) and meaningless (Icahn said “Bullshit” on the air!). The excitement, odd though it might have been, was palpable. I thought, I must be missing something not seeing it on the tube. So the next day, I watched the full exchange online. (video, transcript) Three people having a conversation on TV — two of the three by telephone.
I was, to say the least, underwhelmed.
(click here if charts are not observable) U.S. Equity Sector ETF Weekly Performance – January 25 (click here if charts and table are not observable)
Category: Think Tank