My morning reads:

• Apocalypse, Not Now, for Municipal Bonds: $573.2 million in Munis defaulted in 2013 (0.6% of the $3.7 trillion outstanding) versus 1.01% for 2013 (Barron’s)
• Investors Should Beware the Dark Side of Defensive Stocks (WSJ) but see Best Six Months Ending, Time to Warm Up Defense (Stock Traders Almanac)
• On the virtuous circle of exporting deflation (FT Alphaville)
• 401k Critiques:
…..-John Bogle: The “Train Wreck” Awaiting American Retirement (PBS)
…..-Index Funds: The Key to Saving for Retirement? (PBS)
…..-Five Moments that Shaped the 401(k) (PBS)
Most amusing read today: KrugTron the Invincible (Noahpinion)
• The cost of austerity and slow recoveries (Antonio Fatas and Ilian Mihov on the Global Economy) see also Liquidity Trap or Credit Deadlock (Uneasy Money)
• The 2014 iBeetle Is Like an iPhone on Wheels (NYT)
Gleick: “Total Noise,” Only Louder (New York Mag) see also Lost in Space (NYT)
• Meet the New Enforcement Chief of the SEC – The Guy Who Orchestrated Last Year’s Discredited National Mortgage Settlement on Behalf of Wall Street (Wall Street on Parade)
• Snoop Lion Answers Your Questions (WSJ)

What are you reading?


A Rise in Wealth for the Wealthy; Declines for the Lower 93%

Source: Pew Social Trends

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 Mid-Week AM Reads”

  1. idaman says:

    the thing that is interesting to me is that the iPhone is fast acquiring the economics of windows. Once a market becomes so dominant, you can’t sustain sales and margin growth.

    Qtr y/y growth
    AAPL +11%
    MSFT +8% (adjusted for deferred revenues)
    Net Income
    AAPL -18% (that’s negative)
    MSFT +18%

    going forward I think MSFT has better chance of growing earnings for the following reasons
    1)Office is more sticky then iTunes and represents a better cross selling opportunity. Think Spotify, Xbox, Pandora, and now Amazon, Google Twitter music
    2)consumer Brand quality perceptions also revert to the mean
    3)MSFT is iterating at a faster rate, and with quality
    4)iCloud is the worst of all cloud services

    here is a 100 day relative performance comparison

  2. hue says:

    SNAP Decisions: In Florida, a Food-Stamp Recruiter Deals with Wrenching Choices (WaPo) Seniors in need refusing are because of pride and propaganda, worried about being seen as takers. (Related previous piece about RI Town)

    Power of the Press: Everything You Think You Know About the ‘Big Bad Fed’ Is Wrong (Minyanville)

    Amazing Graze: Allan Savory on How to Green the World’s Deserts & Reverse Climate Change (TED Talk & transcripts) Cows Against Climate Change: The Dodgy Science Behind the TED Talk (The Wildlife News)

  3. swag says:

    How are humans going to become extinct?

  4. 873450 says:

    A Rise in Wealth for the Wealthy; Declines for the Lower 93% – An Uneven Recovery
    Pew Research Center

    93% defines our faux-capitalist economy since the Great Recession “officially” ended 2009.
    93% of new income growth and prosperity is streaming to 1%. (around 6% goes to around 6%)
    93% of American households’ net worth and standard of living are declining.

    Something’s wrong when an expanding GDP no longer accurately reflects a healthy U.S. economy.
    Socialism for plutocrats isn’t working.
    We need a new metric.

  5. AHodge says:

    i am reading the ECB may finally start cutting rates, and italy may end political impass
    Eu markets are up a lot last couple days
    as the rate news is oneshot and italy may still need an election soon
    it may be near time to find a top and push in the european bet chips–namely short.

  6. TerryM says:


    I am curious, the sources for the links you post are very varied from day to day. Do you actually read/check all of these different sites or do you use some kind of an aggregator (RSS?) to find ID daily reads?

    • Over the course of a 24 hour day, I plow through about 30 sites (including major media) + a dozen aggregators.

      When something catches my eye, I select “READ LATER” so its on my Instapaper. I then start reading it on either train ride to work or to home. I will plow thru 100 articles — mostly eliminating the 50 I find uninformative/boring/error filled right away.

      That leaves about 50 left — I can tell if something is worthwhile in about 5 seconds.

      Of the remaining 50, I usually select 15-20 or so. My assistant plows thru these, formatting them in Word Press on the blog. When I get into the office, I sit down, select what I think are the best ones, put them in order and hit publish.

      The other 10 that might not be as timely I hold for the afternoon, adding more to Instapaper throughout the day. I save the real long form ones for the weekend

      Similar sort of pattern in the afternoon.

  7. petessake says:

    Thanks. Major league thanks for aggregating and sharing these articles..