My morning reads:

• Money Matters: A bull-and-bear naturalist (Winnipeg Free Press) [ridiculously nice profile of yours truly]
• The Question You Should Be Asking About the Stock Market (Bucks)
• The deadly quest for safety (Coppola Comment) see also The Constant Correction Call (The Reformed Broker)
• Michael Lewis: The Trouble with Wall Street — shocking news that Goldman Sachs is greedy (New Republic)
• Too Big to Fail Too Hard to Fix Amid Calls to Curb Banks (Bloomberg) see also UK prepares new law to break up errant banks (Reuters)
• More than one way to rebalance Portfolios (Morningstar)
• U.S. Accuses S&P of Fraud in Suit on Loan Bundles (DealBook) see also S&P expects U.S. lawsuit over pre-crisis credit ratings (Reuters)
• Unplugged: Why is Michael Dell buying back his company? (USA Today)
• Silicon Valley’s Favorite Stories (Bits) see also Paul Kedrosky Has A Fascinating Theory About What Has Gone Wrong At Apple (Business Insider)
OMG, this is hilarious! Hitchhiker uses hatchet to save woman from crazy attacker, gives best NSFW interview ever (

What are you reading?


Global Stockmarket Performance

Source: The Economist

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.

23 Responses to “10 Tuesday AM Reads”

  1. overanout says:

    Apple’s problem is they are a small minded marketing driven company that has created cult expectations for there product’s which cannot be meet without total control over the manufacturing cycle.

  2. PeterR says:

    Kai for President! ( link at the bottom of the list)

  3. ben22 says:

    for the fundies in the group, as there was discussion yesterday about the end of the secular bear and p/e ratios:

  4. Petey Wheatstraw says:

    RE: Kai

    What goodness lurks in the heart of man? Only the Shadow knows.

    Thank god for this skinny surfer dude. Never, ever, judge a person by their outward appearance or demeanor. They might be the one to pull you from a fire, at risk of their own life.

  5. willid3 says:

    is there any hope in the new lawsuits against the rating agencies? or will it take Congress changing the law to actually fix it. and what are the odds of that??? pretty slim with house as it is now, not that the senate is much better. the last big mess it took a really bad pr disaster to actually motivate Congress to do any thing at all

  6. hue says:

    “House of Cards” and the Decline of Cable

    adding to yesterday’s Ramis Q&A, a 2004 profile:

    The voice that Ramis originated—a defanged sixties rebelliousness that doesn’t so much seek to oust the powerful as to embolden the powerless—remains the dominant mode in comedy today. “The ideas behind most comedies now—put the underdog in the corner and let him win, the marriage of comedy and anarchy in a single molecule, and having characters do all these unlikable things but remain completely winning—are all Harold’s,” Brian Grazer, the producer, says. “He is the father of the modern Hollywood comedy.” “Animal House” was thoroughly ripped off by the “Porky’s” series, the “Revenge of the Nerds” series, and “Old School.” “Caddyshack” was ripped off by “Happy Gilmore,” “Ghostbusters” by “Men in Black,” and “Groundhog Day” by the current Adam Sandler comedy “50 First Dates.”

  7. eroldictat says:

    Antifragile by Taleb. Excellent read – not sure why it hasn’t cracked your readers’ top-10 yet. I can only surmise that it’s too harsh on established financial/economic thinking to be widely accepted. But Taleb absolutely nails it in this book.

  8. hue,

    to rip-off/paraphrase “Fletch”, “It’s all Derivatives, these Days..”

    and, from the look of this..

    seems that, too, has been, aggressively, pilfered..

    but, you know, Why? Originate, when it’s so much EZer to Copy (?)

  9. hue says:

    MEH, Now you prepare that Fetzer valve with some 3-in-1 oil and some gauze pads. And I’m gonna need ’bout ten quarts of anti-freeze, preferably Prestone. No, no make that Quaker State.

  10. 873450 says:

    Lewis nails it in one paragraph.

    Michael Lewis: The Trouble with Wall Street — shocking news that Goldman Sachs is greedy (New Republic)

    Why I Left Goldman Sachs: A Wall Street Story
    By Greg Smith
    Grand Central Publishing, 277 pp., $27.99

    “Either way, you had to admire Greg Smith’s nerve. Still, his piece raised a couple of questions that I hoped his book might answer. The first is, why now? Goldman was helping the Greek government deceive the European Union about its indebtedness back in 2001; by 2004 the firm was busy manipulating the ratings agencies and the investing public to help expand the market for subprime mortgage bonds; by 2006 it was designing securities to fail (the infamous Abacus program) so that its own traders could bet against them, and make profits at the expense of their own customers by, in effect, pumping vast amounts of trust-reducing pollution into the financial system. For a very long time now the firm has been famous for being more frightening than helpful to its customers. Smith first worked for Goldman as an intern in the summer of 2000, near the peak of an Internet bubble that was inflated with the help of Goldman’s analysts. If some Goldman employee was going to go and get himself worked up over his firm’s destructive financial behavior, why did it take him until last spring to do it?”

  11. Jojo says:

    Bang! Bang! Maxwell’s silver hammer
    Came down upon her head.
    Clang! Clang! Maxwell’s silver hammer
    Made sure that she was dead.
    You guys DO know that that Kai interview is a fake. Yes?

    The guy is insanely calm for what he supposedly just went though. He is pretty clean and clean-shaven for a homeless guy. The cops would have him in custody and would not let him stand on the street with his backpack giving an interview. There is no blood on him. And this story would certainly be all over the 24 hour news with plenty of photo’s – and it isn’t…

  12. Jojo says:

    DARPA’s 1.8 Gigapixel Drone Camera Could See You Waving At It From 15,000 Feet
    By Alexis C. Madrigal
    Feb 1 2013

    Word of DARPA’s experimental 1.8-gigapixel surveillance video camera, ARGUS-IS, first surfaced in 2009. And now that they probably have something better hidden, more details continue to emerge.

    A PBS video got to look at the actual video feeds — and they are stunning. Take a look. Watch for the arm waving guy at about 1:55 or so:


    One thing to note is that a drone can just hang out at 15,000 feet over a small city-sized area (roughly, half of Manhattan) and provide video surveillance of the whole thing. The other thing to note is that they are running machine vision on the moving objects, which means they are generating structured data out of the video, not just displaying the pictures.

  13. formerlawyer says:

    Stolen years because of gun murders in the United States..

    Teenagers buying guns.

    National Rifle Association enemies list.

  14. overanout says:

    @willid3: The current GOP political base is southern, border religious states and various low population rural dist. Expanding the base beyond the current Southern base seems a longshot without significantly upsetting the current voting bloc that is in reality all the GOP has left. The National GOP future is similar to what has occurred in Calif after 30 years of Republican right wing crazy antics…they are no longer a factor in state politics.

  15. willid3 says:

    hm…fear of robots taking over….is really the elites pushing for better servitude among the wager earning serfs?

    not so sure that we get much in the way of jobs when we automate, because the whole point of that is to reduce long term costs, which generally is workers, and some reduced materials cost too. while employers may need some new workers to ‘manage’ the robots

  16. Anonymous Jones says:

    Harold Ramis originated all this comedy and all these complex comedic characters? That is pretty amazing.

    Unfortunately for that theory, we have thousands of years of written evidence against it.

    Every generation rediscovers “originality”, it seems.

    And not to beat this dead horse, but the “evidence” cited is much weaker than suggested. The movies that are supposedly “rip-offs” are no such things. A few similarities are hardly evidence, and there is no question that you could go back and look for the paradigms Ramis copied from and find as many or more similarities in them. Dig deeper. Seriously.

  17. AnonyJ,

    of course. remember, Text is Static..’nuance’..difficult to deliver in staccato bursts..

    to your point, even, R.E.M. noted (that) “We’re standing on Shoulders of Giants..”


    check this ‘result’..

    and, just, to Note, for those who may be Chart shopping..

    save a letter, preserve Pixels, & Capital..

  18. Roanman says:

    I love this kid (Kai). I’m guessing that network guys from every network in the country including Al jazeera are already all over Fresno hunting him like there’s no tomorrow.

    I can’t decide whether to hope he gets rich or gets away.

  19. rashley314 says:

    What’s your age?
    “I can’t call it.”

  20. Jojo says:

    formerlawyer said @Jojo Says:
    No. Media report.
    Wow! I stand corrected. I would have expected this to be all over the news. Too many 4 letter words in the interview maybe?

    I guess he didn’t use the sharp edge of the hatchet to hit the guy with.

  21. debrabradley says:

    The credit rating agencies produced poor work. No doubt.

    Where were the Feds and States, though, when Wall Street money was fueling a real estate boom that filled their tax coffers?