My holiday week Monday morning reads:

• Is the Market Seeking an Excuse to Correct? (Barron’s)
• The Low Volatility Story in Pictures (Vix and More)
• The Cyprus Deal:
…..-Scratch one stupid idea (FT Alphaville)
…..-Cyprus Salvaged After EU Deal Shuts Bank to Get $13B (Bloomberg)
…..-Hot Money Blues (NYT)
• Using Risk to Make Better Investing Decisions (CFA Institute)
Should we reward long term holders? Here Comes the Slow-Stock Movement (WSJ)
• Well Before Summer, Hamptons Luxury Real Estate Is Scorching (NYT)
• Germany’s offshore money and the hacker who helped expose it (Quartz)
Rise of big data: The Mayor’s Geek Squad (NYT)
• Google’s trust problem (Wonkblog)
• A New Game for Microsoft’s Kinect (WSJ)

What are you reading?


Investors Finding New Calm in Crises

Source: WSJ

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 Monday Reads”

  1. Mike in Nola says:

    NC had a good post on possible ramifications of the Cyprus deal, esp, why would a wealthy person or anyone who had to clear a big transaction use a bank in the periphery that could be subject to the same confiscations. This may well lead to more capital flight from those countries.

    There has already been confiscation of savings in Spain but it didn’t get much play. Depositors in one of the shaky banks wound up as shareholders instead. I’m sure that made them feel good.

  2. kernelpanic says:

    Would you trust a banker? I didn’t think so. How ’bout a scientist or group of scientists?

    And I’m told by my girlfriend that “The Immortal Life of Henrietta Lacks” is an excellent read.

  3. Lariat1 says:

    I know, I know, I should be reading but I can’t get beyond this;

    Wouldn’t the grand-kids love this!!!

  4. willid3 says:

    Felix seems to think that the Cyprus deal aint over yet. that in a few years max, they will leave the Euro as they blame their deflating economy on the EU.

  5. GeorgeBurnsWasRight says:

    Regarding Cypress, if I understand correctly, bank deposits were only insured to 100K. So long as anyone with less than the limit is made whole, I don’t see where those with larger amounts have much legal recourse. If I have $100K insurance on my home, and it costs $200K to rebuild, the difference is something I knew about beforehand so it’s my responsibility.

    If someone’s got another take on this, I’d like to hear it, beyond the obvious statement that bankers should have managed risk better.

  6. S Brennan says:

    A German take on Cyprus…and it ain’t pretty. If only we had a major media outlet with a moral spine…and a rudimentary knowledge of history to place events in context.

  7. S Brennan says:

    GeorgeBurnsWasRight, my understanding was that 6.5% was to be palmed off everything below 100K.

  8. AHodge says:

    Fannie llooking to manage their risk
    with a BA and 4 years of experience :O
    Capital Markets Portfolio Credit Risk Manager
    Fannie Mae- Washington, DC (Washington D.C. Metro Area)
    Job Description
    JOB INFORMATION Capital Markets Risk Management is responsible for measuring and monitoring the risk in the Capital Markets balance sheet which includes over $700 billion of mortgage securities and loans.
    •Measure and monitor the market, liquidity and credit risk in the $700 billion balance sheet of mortgage securities and loans. Support portfolio’s risk position with attribution to provide feedback to senior management on business strategies. Produce risk management reports and monitor the relevant markets and portfolio activity.
    •Work with Analytics team and traders to develop tactical and strategic guidance on portfolio’s risk position that are consistent with limits and capital constraints. Provide recommendations to senior management. Support Capital Markets team with guidance on portfolio composition with specific allocation recommendations across asset classes and products. Assist in developing debt funding strategy.
    •Identify assets that are rich or cheap by assessing model results against recent or expected market developments. Review risk reports and capital adequacy reports to maintain a comprehensive understanding of risk positions, market conditions and business strategies.
    •Work with the trading and funding desks in real-time, at both the portfolio and security level, to develop specific hedge recommendations for portfolio management to improve return/risk profile. Support management through understanding P&L attribution and risk/return analysis and forecasting. Perform structured finance credit risk analysis to include assessment of underlying loans and deal structure.
    Desired Skills & Experience
    •Bachelor’s Degree or equivalent required
    •4+ years of related experience

  9. Derektheunder says:


    The thing is, they are stealing cash from bank depositors, not giving haircuts to investors or bond holders. No sympathy here for Russian mafioso or oligarchs, but it’s outright theft. Even though you don’t insure your bicycle, you still have legal recourse if someone takes it away from you.


    BR: What was the interest rate in Cyprus banks? As high as 12.5%? These were high risk deposits, not your grandma’s Christmas Club deposit.

  10. [...] Monday, our AM readings had a link to Krugman’s Hot Money Blues. There was lots of pushback against the article, [...]