Some reads to start your day:

• Gold is the worst investment of 2013 (Quartz)
• Our 5 Favorite ETFs Launched in the Past 6 Months (MorningStar)
• Preparing for Day When Rates Rise (WSJ) see also Bernanke Provokes Mystery Over Fed Stimulus Exit (Bloomberg)
• Blessings of Low Taxes Remain Unproved (NYT)
• How Apple Gets All the Good Apps (WSJ) but see Samsung Targets Galaxy 4 at Apple’s Core iPhone Market (Bloomberg)
Who could have foreseen that? Financial irregularities killed Intrade  (New Yorker)
• Don’t fall for Pentagon spin (Salon) see also Pentagon needs $12.6 billion per year through 2037 for F-35 (Yahoo Finance)
• Your adviser could be a psychopath (msn money)
WTF? US teenager crafts early detection tool for cancer (global post) see also How “Breakthrough Medical Findings” Disappear (Same Facts)
• Ferrari 458 Lets CEO Hit Le Mans Like Steve McQueen (Bloomberg)

What are you reading?

 

Massive bear markets (50%+ declines) since 1896

Source: Chart of the Day

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.

18 Responses to “10 MidWeek AM Reads”

  1. RW says:

    Huge Flight of Rich after French Tax Hikes? Nope.

    Follow some of the links in the articles — the hyperbole, nay the hyperventilation, is good for many giggles — but for those in a hurry the shorter version: “What does the evidence from the real world tell us about the migration patterns of the wealthy, in response to tax rates?” Answer, there isn’t enough to make a spit wad (not that it would actually matter a whole lot if there were).

  2. farmera1 says:

    What the Wall Street Crowd does after hours:
    http://www.businessinsider.com/saint-venus-theater-2013-3

  3. louiswi says:

    Everyone should take a little time to read up on the massive fraud that is the F-35 program. We are talking serious money here for a weapon that will be virtually worthless in the coming years.

  4. VennData says:

    Police in Upstate New York Search for Suspect After 4 Shot Dead

    All Barbers, hair stylists, and the entire pink collar industry MUST CARRY.

    http://www.nytimes.com/aponline/2013/03/13/us/ap-us-upstate-ny-shootings.html

  5. krice2001 says:

    “Your adviser could be a psychopath (msn money)”

    Uh… Barry? Umm… I’m nervous… What are you trying to tell us?

  6. VennData says:

    Retail sales expanded at their fastest clip in five months in February,

    “…So-called core sales, which strip out automobiles, gasoline and building materials and correspond most closely with the consumer spending component of gross domestic product, rose 0.4 percent after increasing 0.3 percent in January…”

    http://www.reuters.com/article/2013/03/13/us-economy-retail-idUSBRE92C0I820130313

    But didn’t stop the hare-brained Rick Santelli from having a guy on that says it’s ALL gas.

    The clown car co-passenger’s argument was that gas was up 5% and the “Rest of retail” up zero. Ergo, the 1%

    …Uhh… so… gasoline makes up 20% of total US retail purchases eh? Sure… ROFL watching Santelli continue to declare American a failed state.

  7. hue says:

    is Paul Ryan an inflation nutter? http://bloom.bg/Z03FJU he is the progeny of Voodoo Economics and Gingrich’s Contract on America

    republican national debt: $12 Trillion and counting http://bit.ly/X7as5b

  8. hue says:

    is Paul Ryan an inflation nutter? http://bloom.bg/Z03FJU he is the progeny of Voodoo Economics and Newt’s Contract on America

    Republican national debt: $12 Trillion and counting http://bit.ly/X7as5b

  9. rd says:

    Headline of the day: Iran suing Hollywood over Argo movie

    http://us.cnn.com/2013/03/13/world/meast/iran-argo-response/index.html?hpt=hp_t2

    However, good lawyers should be able to put that suit off for as long as the hostages have been unable to get reparations from Iran for holding them hostage for 444 days:

    http://www.cnn.com/2013/02/25/us/argo-iran-hostages-reparations/index.html

    Apparently Iran believes that Hollywood movies are more egregious than violating millenia old rules about violating the rights of embassies and diplomats.

  10. willid3 says:

    the real problem with the F35, is thinking we can use one airplane for all of the armed services. we have tried that before. and it failed then to. problem is we have front airplanes that were designed in the 1970s. doubt you have a lot from that era. so the big problem was trying to cram to many conflicting capabilities into one plane. then you end up with a much bigger plane that doesnt work as well. not sure why we thought it was good idea to purchase the planes, while they were still designing it. though i suppose they might cut the Marine version since they are the only buyers of that (might help too as it would clean up the design some). about the only time we ever successfully had one plane bought by all 3 services was the F4.
    now we did play with the F15 and F16 designs back in the 1980s. but those changes never made it into the regular planes.
    its like we want to fly biplanes in WW2, thats how old these planes are. while we might be ok as long as nobody else wants to build newer planes. problems is there have been quite a few since the 1970s that have designed. and are now flying.

  11. willid3 says:

    its proxy season again at US companies

    wonder if corporations really care?
    http://www.economist.com/news/business/21573134-americas-proxy-season-will-pit-management-against-owners-never-shareholders?fsrc=nlw|mgt|3-13-2013|5274897|37143690|

    after all must angry stockholders can just sell the stock when they get ignored?
    and here i though companies cared about them stockholders.
    not

  12. willid3 says:

    is this an example of if at first you dont succeed try try try again?
    http://www.ibtimes.com/paul-ryan-2014-budget-proposal-even-more-tax-burden-middle-class-1123991

  13. DeDude says:

    So after the tax hike to 70% the rich did not run screaming and enraged across the border to live in another EU country (which is almost as easy as it is to move to another state in the US). The two who left did so for other reasons. Another myth slayed by the sword of reality.

    http://economistsview.typepad.com/economistsview/2013/03/-huge-flight-of-rich-after-french-tax-hikes-nope.html

  14. DeDude says:

    Sorry repeat of RW link above

  15. willid3 says:

    so instead of having workers in other countries doing their work, lets have them be just outside of US territorial waters, so they dont need a worker visa. and by the way we wont have to worry about taxes, or any thing else too!

    http://www.latimes.com/business/la-fi-high-seas-immigration-20130313,0,7321807,full.story

  16. Somewhat lost in the poor reporting on the “early detection tool for cancer” is the fact that altered mesothelin levels are not a foolproof indicator of the presence on pancreatic cancer.

    What the kids did was to find a cheap and mostly accurate (90%) way of determining (qualitatively, not quantitatively) whether levels of a specific protein exceeding a certain threshold are present. At that (somewhat arbitrary) threshold, levels of mesothelin are often (but not always) associated with pancreatic and other cancers.

    Is it useful? Probably. Has any research been done on the false positive rate? Not really. Before buying into the hype–and taking the published literature, on which the kid’s work was based, at face value–it’s worth reviewing the cautionary tale of prostate-specific antigen…

  17. ilsm says:

    http://news.yahoo.com/pentagon-vows-protect-funding-f-35-possible-114124002–finance.html

    Mr. Frank Kendall, referred to as one of the defenders of F-35 funding, is Under Secretary of Defense for Acquisition, Logistics and Technology, he is the pentagon official responsible for making sure things that the pentagon buys work and are “worth the tax payers’ money” and he is going to support funding for the F-35 an airplane which has no defined initial operating capability, and no date when it might be “achieved” as reported by GAO in March 2013, GAO-13-309.

    There is more is the GAO report released Monday Mar 11, such as no approved system for tracking cost, and performance, and 11% of specification requirements verified in 34% of the planned testing, etc.

    Mr. Kendall has the wrong attitude which is adverse to his position as the “gate keeper” who is supposed to watch out for fraud and waste in the nation’s acquisitions.

    The F-35, and most of the other big ticket weapons programs, are not so important they do not need to work.

  18. Biffah Bacon says:

    @rd; maybe they are suing the wrong people.

    http://consortiumnews.com/2013/03/07/october-surprise-and-argo/

    Fascinating if true.