Ahhh, good to be back. Here are my long form pieces of journalism to start your snowy weekend:

• Siri Rising: The Inside Story Of Siri’s Origins — And Why She Could Overshadow The iPhone (Huffington Post)
• What Is Middle Class in Manhattan? (NYT)
• Exposed: The regime of fear inside Barclays – and how the boss lied and shredded the evidence (DailyMail)
• How To Solve Problems Like Sherlock Holmes (Fast Co.Create)
• Awaiting a New Darwin (The New York Review of Books)
• Buying the NYSE, in One Shot (NYT)
• The Delights of Disgust (The Chronicle)
• TOASTMASTER: HYPOCRISY, EXPLOSIVE LISTENING, AND THE FEAR OF DEATH AT THE WORLD CHAMPIONSHIP OF PUBLIC SPEAKING (The Believer)
• Frontline & Longreads: Inside Obama’s Presidency (Frontline)
• The Placebo Phenomenon (Harvard Magazine)

What’s up for the weekend?

 

 

Bull Market Winding Down. Don’t Panic

Source: CNNMoney

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.

19 Responses to “10 Weekend Reads”

  1. given the Chart..

    yon’ QOTD..

    “The majority of unskilled investors stubbornly hold onto their losses when the losses are small and reasonable. They could get out cheaply, but being emotionally involved and human, they keep waiting and hoping until their loss gets much bigger and costs them dearly.”

    -William O’Neil

    as an aside, I find IBD’s “non-Editorial” Content to be worthwhile..

    http://www.investors.com/default.htm

  2. Julia Chestnut says:

    Solving a problem like Sherlock Holmes is much harder than solving a problem like Maria – he just refuses to be married off.

  3. Moss says:

    Does anyone think that Barclays culture and tactics are an outlier?

  4. farmera1 says:

    Personally as a non-professional investor here in the sticks, I find the shoe shine boy technical reading very useful. When the folks at work used to start talking about what stocks they were buying or how their son was getting rich doing day trading or city folks start talking about investing in farm land I listen. Usually it is a good indicator for me to start changing directions with my investments.

  5. TLH says:

    Apple is 34% off its high. It has a low PE with a good growth rate. The market has hit 5 year highs. Has this ever happened before to a major stock in a bull market?

  6. osheth says:

    This look at equilibrium in the context of investing was interesting. Specifically the examples of where Buffett has used this to make money – e.g., buying all the supply and avoiding investments where industry’s must absorb supply.

    http://www.farnamstreetblog.com/2013/01/mental-model-equilibrium/

  7. judabomber says:

    Speaking of farmland values, JPM had a nice mea culpa on John Deere, admitting its worries about how the U.S. drought last summer would impact Deere’s share price were overdone. They had not anticipated the effects of among other things, crop insurance. Wow.

    Gee guys, all you would have to do is look at the two links below to get an idea of how crazy your call was.

    http://www.rma.usda.gov/fields/il_rso/2011/corn.pdf

    http://farmdocdaily.illinois.edu/2013/01/crop-insurance-use-in-2012.html

  8. VennData says:

    Facebook: Here’s why we’re blocking some apps

    “…The social network published a blog entry today, explaining that it’s changed its policies to clarify this stance. Facebook didn’t respond to press inquiries yesterday about why it had shut off access to its application programming interface, or API, for a number of apps. Access to the API allows developers to add features like Facebook logins and Facebook friend searches…”

    http://news.cnet.com/8301-1023_3-57565931-93/facebook-heres-why-were-blocking-some-apps/

    Government should force Social Media sites to open their access, or allow people to bring their contacts, friends, everything with them and still communicate. Like the phone system, you can get in and out anyway you want to, in fact, like the internet itself.

    Stop the Anti-Social. Open them up.

  9. James Cameron says:

    Bridgewater’s Dalio Sees ‘Game Changer’ as Money Shifts

    “There’s a lot of money in a place that’s getting a very bad return and in this particular year there’s going to be, in my opinion, a shift,” Dalio said today at a Bloomberg panel discussion at the World Economic Forum in Davos, Switzerland. “The complexion of the world will change as that money goes from cash into other things. The landscape will change, particularly later in the year and beyond.”

    http://goo.gl/1WuTD

  10. beaufou says:

    The Frontline special about Wall Street prosecution for those who missed it:
    http://www.pbs.org/wgbh/pages/frontline/

    Also available on demand from optimum in NY.

  11. James Cameron says:

    > Apple is 34% off its high. It has a low PE with a good growth rate.

    Not to quibble, but it closed yesterday at 439.88, off 37.6 percent from its intraday high of 705.07 on Sept 21.

  12. godot10 says:

    Re: Dalio

    It would be nice if (money) velocity appeared in the real economy, not just in asset prices (i.e. within the walls of the moneychanging economy).

    Central bank balance sheets are ballooning. The liquidity is going into financial assets, not into real economic growth.

    How is this just not another form of a credit bubble in financial assets, now encompassing government debt?

    Trade with the central banks, I guess. Don’t fight the Fed. Dance with the shadows.

  13. Jojo says:

    I thought this story fascinating. I did not realize that food photography in restaurants was such an issue!
    ———-
    January 22, 2013
    Restaurants Turn Camera Shy
    By HELENE STAPINSKI

    When it comes to people taking photographs of their meals, the chef David Bouley has seen it all. There are the foreign tourists who, despite their big cameras, tend to be very discreet. There are those who use a flash and annoy everyone around them. There are those who come equipped with gorillapods — those small, flexible tripods to use on their tables.

    There are even those who stand on their chairs to shoot their plates from above.

    “We get on top of those folks right away or else it’s like a circus,” Mr. Bouley said.

    But rather than tell people they can’t shoot their food — the food they are so proud to eat that they need to share it immediately with everyone they know — he simply takes them back into his kitchen to shoot as the plates come out. “We’ll say, ‘That shot will look so much better on the marble table in our kitchen,’ ” Mr. Bouley said. “It’s like, here’s the sauce, here’s the plate. Snap it. We make it like an adventure for them instead of telling them no.”

    http://www.nytimes.com/2013/01/23/dining/restaurants-turn-camera-shy.html

  14. RW says:

    Disability Rolls and the Makers/Takers/Fakers Nonsense -Jared Bernstein

    Had a rousing debate on the Kudlow show last night with Larry and Jimmy Pethokoukis (aka Jimmy P) haranguing me about makers/takers. Jimmy went on a rant about all the fakers on the Social Security Disability rolls, prompting me to inject some facts from my CBPP colleague Kathy Ruffing about the factors actually responsible for most of the increase in the DI rolls. I said I’d post the info, so here it is.

  15. phillips49 says:

    Re: Bull Market Winding Down

    One my favorite indicators is the water cooler indicator. When office talk fires up about stocks and possible returns, it is a good time to start thinking about an exit. I’m thinking about an exit.

  16. Joe Friday says:

    APPLE LOSING SCREEN-SIZE WARS ?

    * Jefferies & Co cut its rating on Apple’s stock to “hold” from “buy” and slashed its share price target by $300 to $500.

    Jefferies analyst Peter Misek, who has previously raised red flags about Apple cutting orders to suppliers, said the iPhone slowdown was “real and material” and here to stay.

    “We think Apple is losing the screen-size wars,” Misek said, noting that demand was moving away from the iPhones 3.5-inch and 4-inch screens to screens of 5 inches offered by rivals such as Samsung Electronics Co Ltd, HTC Corp and Nokia Oyj.

    (So size DOES matter !)

    ~~

    * Woz sez new film about Steve Jobs (starring Ashton Kutcher) is “embarrassing”:

    GIZMODO

  17. DeDude says:

    @Moss;

    I think that when immature sociopaths get under pressure, then yelling, screaming and throwing hissy fits is pretty much standard procedure – so is cutting corners and cheating. Wall Street is pretty full of these young arrogant idiots from MBA programs, so that kind of stuff is not going to be a rare outlier.

  18. formerlawyer says:

    @phillips49 Says:

    One of my maxims was when my barber started talking stocks I would get out the market fast.

    *Note, he was no regular barber (Yes I am familiar with the Wealthy Barber books) as he was a paranoid schizophrenic with a gambling problem. Before I got in the chair I was careful to ask him if he had taken his medication for the day before I let him shave me. Alas he died in a mental hospital on one of his several visits there.