Some Sunday morning reading to stimulate your brain pans:

• The Smartest Man in Global Capital Markets on When the Music Will Stop (Minyanville)
• Bad Omens: Mila and the Maestro (Barron’s)
• ‘It’s Becoming Idiotic’ — the Senate’s Riveting Story of the London Whale (Bloomberg) see also  JPMorgan’s Follies, for All to See (NYT)
• As stocks rise, so do the number of millionaires (The Washinton Post)
• Steering Clear of Stock Custodian Battles (WSJ)
• China hacker’s angst opens a window onto cyber-espionage (LA Story)
• East India Company: The Original Too-Big-to-Fail Firm (Echoes) see also Why Conservatives Want to Break Up the Banks, Too (New Republic)
Bruce Schneier: The Internet is a surveillance state (CNN)
• After 15 years, Big Lebowski keeps getting bigger (Toronto Star)
• Jim Gaffigan Is the King of (Clean) Comedy (WSJ)

What’s for brunch ?


Overbought and Oversold Markets

Source: Macroman

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.

9 Responses to “10 Sunday Reads”

  1. Roanman says:

    Nice wallpaper.
    My family likes Gaffigan a lot, but of the clean comics, and there seem to be some more lately, we like Brian Regan a little more.

  2. dino says:

    I hadn’t seen this here; anyway, Cyprus just got their bailout…and bank depositors are taking a haircut (6.75% for accounts under 100K and 9.99% for accounts over 100K) to foot the bill. I don’t remember seeing anything like this before.

  3. James Cameron says:

    > As stocks rise, so do the number of millionaires (The Washinton Post)

    “The stock market has roared back to record-high territory — and the number of U.S. millionaires is not far behind, according to a new report.

    “The number of U.S. households worth $1 million or more, excluding the value of their homes, surged to nearly 9 million in 2012.

    “The firm said the stock market rally lifted the number of households with $500,000 or more in net worth to 14.3 million in 2012, up half a million from a year earlier.”


    Nearly 9 million with net worth of $1 million or above, but only 5.3 million more are added when that’s relaxed to $500,000 or above according to the WAPO. Those numbers didn’t make sense . . . and indeed, this is what the report actually said:

    “Households with a net worth of $500,000 up to $1 million NIPR numbered 14.3 million at the end of 2012, well below the 2007 peak of 15.7 million. Less affluent households appear to be maintaining large cash reserves and have stayed on the sidelines for much of the prolonged market rally.”

  4. RW says:

    The Cost Disease: Why Computers Get Cheaper and Health Care Doesn’t

    Baumol presents his analysis with characteristic clarity, tracing the fast-rising prices of health care and education in the United States and other major industrial nations, then examining the underlying causes, which have to do with the nature of providing labor-intensive services. The news is good, Baumol reassures us, because the nature of the disease is such that society will be able to afford the rising costs.

    NB: The primary author is probably best known for developing the Cost Disease model, describing how the economy as a whole becomes more productive with the advance of technology but not all sectors progress equally and some not showing any productivity gain at all.

    My own take is that arguing about whether we should cut medical costs or cut government spending precludes better questions; e.g., is there a way to transition to a system demanding more service workers than manufacturing workers while paying everyone a living wage (human dignity aside, I assume any thoughtful citizen would prefer to avoid creating more working poor in need of taxpayer support).

    “Everybody complains about the weather, but nobody does anything about it.” -Charles Dudley Warner

  5. Mike in Nola says:

    From my wife who still reads paper books. (You don’t need French to understand it.)

  6. Jojo says:

    Don’t sail Carnival Cruise lines!
    One of the secrets to Carnival Cruise’s unsinkable business model: free Coast Guard rescues
    By Gwynn Guilford — March 16, 2013

    .@USCoastGuard responded to 90 incidents with Carnival ships in 5yrs- with passengers onboard. This needs to change–
    Jay Rockefeller (@SenRockefeller) March 14, 2013

  7. Jojo says:

    Some really neat robot video’s here. Of particular interest is the “Terminator false arm” one!
    BLOGS // Automaton
    Video Friday: Fly-By Grasping, Quadrotors in Africa, and ROS Does Minecraft
    POSTED BY: Evan Ackerman / Fri, March 15, 2013

  8. VennData says:

    “…In Congress, Republicans are pushing an agenda that is almost identical to the one that their party lost with in November, with no regrets and few efforts to reframe it even rhetorically. The House will vote this week on the third iteration of Mr. Ryan’s budget, which would again try to turn Medicare into a subsidy for private insurance purchases, slash the top income tax rate and cut deeply into programs the president campaigned to protect…”

    “…On Wednesday, Senate Republicans forced a vote to eliminate financing for the president’s health care law. The effort failed, 52-45, but it was at least the 54th time that one chamber or the other had voted on a proposal to repeal all or part of the law, which was enacted three years ago…”

    Driving the clown car around and around.

  9. rd says:

    As far as I could tell, the primary argument in “The smartest man” is that equities are underowned as a precentage of the asset base and there is lots of cash out there looking for a home. That sounds like the definition of inflation to me, except that instead of the inflation occurring in commodities, wages, and houses instead, he expects it to occur in stock prices instead.

    Once again, unless earnings resume climbing soon I don’t see a sound economic underpinning for increased equity market prices.