My morning reads:

• EU-US Free Trade Agreement: End of the Asian Century? (The Diplomat)
Smaller Hedge Fund Managers Outperform: A Study of Nearly 3,000 Equity Long/Short Hedge Funds (All About Alpha)
• The Real Problem with the Big Banks (The New Yorker) see also Too Big to Fail Casts Long Shadow (WSJ)
• ‘Currency War’ Is Less a Battle Than a Debate on Economic Policy (DealBook)
• Where the Black Swans Hide & the 10 Best Days Myth (Social Science Research Network)
• Forecasters keep thinking there’s a recovery just around the corner. They’re always wrong. (WONKBLOG) see also The Holy Grail For Monitoring Your Portfolio (The Capital Spectator)
• US ready to strike back against China cyberattacks (Yahoo Finance)
• Happiness Means Being Just Rushed Enough (Scientific American)
• Michael Dell, Who’s Your Daddy? (Institutional Investor)
• The Beautiful World of SciVis (visual.ly)

What are you reading?

 

Buffett’s Berkshire Hathaway Closes Above the $150,000 Mark

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.

11 Responses to “10 Wednesday AM Reads”

  1. Jim says:

    You’ve heard of 3D printers. Now a 3D pen. you can now doodle in 3D.
    http://www.technologyreview.com/view/511471/a-3-d-printing-pen-wows-kickstarter/

    The future is looking bright for those who can create.

  2. farmera1 says:

    Why TBTF US banks are more risky than ever, in a word derivatives.

    Wall Street Banks Are More Dangerous Than Ever

    http://www.businessinsider.com/wall-street-banks-more-dangerous-2013-2

    “Take JPMorgan, for instance. Under US accounting rules, the bank is just the fourth largest in the world with total assets of $2.3 trillion and capital equal to roughly 7% of total assets. But under international rules where lots of off-balance sheets assets like derivatives are accounted for, according to Bloomberg, JPMorgan would be the largest in the world with assets of $4.5 trillion and capital equal to less than 4% of assets. The higher capital ratios are, the less likely banks are to face liquidity and solvency problems.”

    OK, so you write trillions of dollars in derivatives (insurance contracts) , but you are AOK because you have counter weight derivatives for a lot of those trillions. Didn’t this exact situation blow up before (like six years ago) and now it is even worse. Those stinking counter parties (AIG and the big banks) couldn’t pay up, hence tarp and billions and billions of US dollar later the situation is worse.

    What could possibly go wrong with this picture??????

    Here’s an article from Bloomberg on the subject.
    http://www.businessweek.com/printer/articles/434490?type=bloomberg

    This is the black swan that will blow. Of course if you identify the black swan it isn’t a black swan, but it still blows the hell out of things. Pretty much not if but when. And the thing is nobody knows how or is willing to put the genie back in the bottle without destroying the bottle (in this case the wrold).

  3. JimRino says:

    Two of the biggest black swan’s are: Global Warming and Fracking if it invades your state.
    - Global Warming, Al Gore’s movie “An Inconvenient Truth” made predictions that are happening too fast and too soon. Already New York flooded and so to florida, already are we seeing a 4 year US, North American and Global Drought, already has our grain and cattle industry been adversely affected, and this is just the start. Massive Methane leakage in the Arctic has started.

    Then there’s FRACKING. Cunningly the industry is forcing signing of NDA’s for cancer settlements, to shut them up. If Fracking isn’t stopped, it’s time to buy stock in Cancer centers in the states that allow Fracking. Also, notice your state EPA will be shut down by your Republican governor. This is a National Conspiracy.

  4. Global Eyes says:

    3D printers capture my imagination in a way cell phones never did and that’s why Getting Started with MakerBot by Bre Pettis is on my reading list.

  5. VennData says:

    Koch World reboots

    “…The Koch brothers’ political network spent hundreds of millions to win the White House and the Senate – and came up empty. So they did what any smart business executives would do: ordered up an audit. … Americans for Prosperity, the Kochs’ main political outlet, parted ways with its chief operating officer, most of its 100-plus-employee field staff and several fundraisers. Generation Opportunity, a Koch-backed youth mobilization effort, recently replaced its president. Charles and David Koch’s network also is withholding cash from some groups pending the full audit results, and it has postponed both of its signature donor conferences this year. The pressure isn’t just coming from the inside. California regulators are issuing subpoenas and demanding phone and business records in an investigation that could reveal the secret donors funding some Koch-linked groups or even result in those donors becoming targets themselves. And David Koch has told friends he is weary of being pilloried … as the personification of the corrupting influence of money in politics…”

    http://www.politico.com/story/2013/02/koch-world-reboots-87834_Page2.html

    Well, you are “the personification for money in politics.” And you are bad for America.

    Unless you use your money to support compromise in Washington, moderate, human policies you will be remembered for all time as assholes.

  6. VennData says:

    How Big Business is Stymying Makers’ High-Res, Colorful Innovations

    http://www.wired.com/design/2013/02/3-d-printing-patents/

  7. Moss says:

    The Fed knows this and is probably why the TBTF banks are trading at less than tangible book

    http://www.businessweek.com/news/2013-02-19/u-dot-s-dot-banks-bigger-than-gdp-as-accounting-rift-masks-risk#r=bloomberg

  8. AHodge says:

    nice list
    but i think that Diplomat article on euro FTA trade deal leaving Asia behind completely misses the possibilities
    1 US wants asia FTA to block china
    2 Japan and S korea not in the Asia deal bing negotated for end 2013
    3 Obama may induce japan to get in, like THIS FRIDAY
    4 so its not surprising the China Japan S korea alternative deal mentioned,
    which the US would hate and be a setback politially for us
    is not going anywhere
    as Clayton Yeutter explained to us last friday there will be a full court press to get japan into “our” FTA
    its not too late

  9. VennData says:

    The Onion for the Military…

    http://www.duffelblog.com/

    And McConnell gets hookwinked.

    http://www.wired.com/dangerroom/2013/02/mcconnell-duffel-blog/

    Maybe Homeschooling in Kentucky ain’t all it’s cracked up to be.

    Homeschooling: people who were fucked up by their parents, fucking up their kids.

  10. willid3 says:

    remember drill, baby,drill?

    seems that we have added over 800,000 barrels a day of oil, and increased local supplies to the point we are supplying over 50% of our daily needs.

    but that lowering prices? never happened in fact its going up still.

    http://www.mcclatchydc.com/2013/02/19/183571/theyre-drilling-baby-drilling.html

    course we have also become one of the biggest exporters of refined fuels too. and we have shut down a few refiners because they weren’t competitive any more

    but we did try that drill, baby, drill routine,.
    and it didnt work