My morning reads:

• Sequester FAQ: Absolutely everything you could possibly need to know (WonkBlog) see also 5 Reasons Not to Worry About the ‘Dreaded’ Sequester (Fiscal Times)
• Yardeni on Gold (Dr. Ed’s Blog)
• Hedge fund results have been poor (Brooklyn Investor); So Too Have Venture Capital Returns (AVC)
• Is This The End Of Our Low Volatility Period? (Stock Trader’s Almanac)
• Accounting Hides Risks: Four Largest Banks Are Now Almost As Big As US GDP (Jesse’s Café Américain)
• Panic-driven austerity in the Eurozone and its implications (VOX)
• Why Wasn’t There a Chinese Spring? (The Diplomat) see also Japan’s economic turmoil may provide an opening for the U.S. (Washington Post)
The End of Global Warming: How to Save the Earth in 2 Easy Steps (The Atlantic)
For Oeniphiles: Battle of the Somm (NYT) see also Somm notes (Ben Schott)
• Misguided Nostalgia for Our Paleo Past (The Chronicle)

What are you reading?


Goldman Sachs: Hedge Funds Most Bullish on Stocks Since 2007

Source: MarketBeat

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.

15 Responses to “10 Friday AM Reads”

  1. hue says:

    Why Haggling for a Car Never Changes a web of state laws makes it very difficult to change the way cars are sold.

  2. hue says:

    mad max, beyond thunder snow video

  3. rd says:


    If the big banks wanted to change the way cares are sold, they would just set up a national sales model and ignore the state laws. That approach served them well with mortgage securitization.

  4. farmera1 says:

    Mind blowing facts (18) about WalMart:

    “In fiscal year 2012, Wal-Mart registered approximately $444 billion in sales, which is $20 billion more than Austria’s GDP. If Walmart were a country, it would be the 26th largest economy in the world.

  5. Cato says:

    Love the NY Times Battle of Somm link! Did definitely notice the service suddenly picked up and sommelier appeared out of nowehere when I ordered a decent, albeit relatively inexpensive, bottle (perhaps one of his Kids) in a harlem hot spot recently.

  6. MayorQuimby says:

    When countries’ debt-to-gdp ratios are over 100, I would not call austerity ‘panic-stricken’. Rather, it is the bill coming due for years and decades of profligate and excessive spending.


    BR: Whose ratio is over 100? The US is at 70

  7. hue says:

    rd, that is a different issue. the auto finance companies are arms of car makers, not big banks? mortgage securitization was a back end issue, not front end, mortgage brokers continue to originate mortgages today.

    car makers and dealerships are joined at the hip, by state laws.

  8. pielou says:

    gold is going down. does that mean you win your meal at that famous restaurant or this is too early to call it? what is the new preferred asset? or is it just profit taking to cover loss? does that mean gold mine stock will go down as well knowing that the quantity of gold is fixed or it is just that the volatility will be lower which is not what i read?

    i am reading that

  9. Joe Friday says:

    Steven Brill was on Charlie Rose last night discussing his Time Mag article about healthcare which was cited by others over the past few days.

    He apparently just discovered what I’ve been pointing out for years, namely that the problem with healthcare in America is that we (the private-sector, Medicare, & Medicaid) are purchasing medical care from a bloated, greedy, wildly inefficient, price-gouging, rip-off, corporate healthcare industry.

    However, he got two things horribly wrong:

    1) He has somehow confused a “Single-Payer” system with a “government-run” system. A government-run system, like say Britain, has the physicians, nurses, etc. as employees of the government. A Single-Payer system has the government acting as a self-insurance company purchasing medical care from private-sector medical providers. He repeatedly praised Medicare for the efficiencies, and Medicare is a single-payer system. I’m surprised by his befuddlement.

    2) He thinks the Democratic Party is just as much to blame (he heaped plenty of blame on the Republicans), because they won’t go along with “malpractice/tort reform”.

    Call it what you will, but malpractice reform/tort reform is a SCAM.

    * According to the independent non-partisan Congressional Budget Office, malpractice costs are not a driver of health care spending and the prescription of capping non-economic damages in jury awards has failed miserably in the thirty-one states where it has been tried. The caps haven’t lowered or even stabilized insurance rates, and have not lowered healthcare costs. It has only increased corporate profits, which was the intent.

    * The Institute of Medicine has reported that preventable medical errors kill as many as 100,000 people a year. It’s the sixth largest killer in America.

    * Studies supervised by physicians, using a very strict definition of “negligent”, have shown that about 1 out of every 100 hospitalized patients are victims of negligent malpractice. However, less than 5% of those patients who are actual victims of medical negligence ever even file a legal claim, and 95% of that 5% settle out of court for rather meager amounts, and only a tiny percentage of that tiny percentage actually ever receive a jury award.

    Malpractice reform/tort reform is a solution in search of a non-existent problem.

  10. AHodge says:

    fed talking head watching
    Boston Fed President Eric Rosengren said today “this discussion does not do justice to the policy trade-offs” (eg former fed officials suggesting possible losses on fed assets)
    Quote Bernanke“ There’s a lot of disagreement about what role monetary policy plays in creating asset bubbles,” “It is not a settled issue….The “first line of defense” if bubbles emerge “needs to be regulatory and supervisory” actions rather than changes in monetary policy…..
    My reaction is
    so maybe you could start doing that? or dampening the credit cycle?

    There is a lot of fed “communication” going on but no clear message any more. Maybe there is a Bernanke follower party line? That looks a little testy and defensive maybe.

    Or, you could also call it real dialogue, tho the Bernanke commentsabove were supposed to be private.

    Or its Fed factions starting to argue it out in public. I liked the Stein talk, hinting to target credit and debt instead, (dampen the credit cycle) and there have been others.

  11. VennData says:

    A Factory on Your Kitchen Counter

    NO! This will change the way we home-school our children in Utah and Mississippi.


  12. MayorQuimby says:

    @BR- “panic-stricken” article was about Europe.

  13. VennData says:

    These farm-subsidy sucking red state goof balls DEMAND that Obama stop spying on them with his (unarmed) drones… yet love Ay-rabs getting snuffed, but want to investigate Obama’s drones when they kill “Americans” in Pakistan’s mountains, yet want welfare recipients drug-tested and support people who don’t want to means test Social Security.

    It’s called hypocrisy. And it’s coming home to roost on the GOP voter like there’s no tomorrow.

    But there is a tomorrow. And frankly the GOP voter acts like they don’t give a damn about when it comes to their own asses. But are welcome to sacrifice the entire world geo-political order and our credit rating for their tax subsidies.

    Yeah, it’s soooo important that billionares get their home mortgage deduction. Good show Boehner. Jolly good show McConnell.. so Parlimentary of y’all.

    White trash.

  14. Melvis says:

    I am reading the Washington Post opinion piece by Bob Woodward, “Obama’s sequester deal-changer”

  15. vinase says:

    regretfully, Goldman has not updated the chart of Feb 2013. I think currently, most hedge funds turn negative for equity market. It’s time of correction