My afternoon train reading:

• Bernanke Says Premature Tightening Would Endanger Recover (Bloomberg) see also Bernanke to Congress: Seriously, guys, what are you doing? (Wonkblog)
• Five lessons Europe can learn from Abenomics (MarketWatch)
• Big Hedge Funds Suddenly Bullish (Barron’s) see also The Hubris of the Bulls (Alhambra Investment Partners)
• Public Spending Per Student Drops (Real Time Economics)
• How the Rich Play the Market (WSJ) but see Stop ‘playing’ the stock market (MarketWatch)
• Marketwatch Gold 2-fer:
…..-Don’t be fooled: Gold is no currency (MarketWatch)
…..-Gold will not make a comeback (MarketWatch)
• How Congress Quietly Overhauled Its Insider-Trading Law (npr)
• Oklahoma Buildings Don’t Have Safe Rooms Because “Regulation Rankles” (HuffPo)
• The Best Commencement Speeches of 2013 (Atlantic Wire)
• 2013 Automobile Magazine All-Stars (Automobile Magazine)

What are you reading?


All major market rallies of the last 112 years


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.

15 Responses to “10 Midweek PM Reads”

  1. catclub says:

    WTF: Bernanke also would do nothing different if there were NO employment mandate for the Fed.

    From Yglesias: ”

    Ben Bernanke’s appearances before Congress are usually a parade of clueless questions, but Sen. Amy Klobuchar of Minnesota just asked him a great one. Noting that some members of Congress think the Fed should drop its dual mandate on inflation and unemployment and just focus on price stability, she asked Bernanke to explain what he would do differently if the mandate changed.

    Bernanke hemmed and hawed a bit, but the crux of his answer was: nothing.

    He seemed to interpret the question as perhaps an attack on his inflation record, but his answer was a damning attack on his growth record. (His answer starts around the 39-minute mark here.) Bernanke noted that “inflation, if anything, is a little bit too low” and said that even though many foreign central banks have a single mandate: “I think our inflation record is as good as really any major central bank, and so there’s not really been a sacrifice in that respect.”*

  2. chartist says:

    Maybe it’s me but it seems car manufacturers are borrowing styling cues from each other more and more.

  3. rd says:

    An interesting article on storm shelters, their cost, and alternatives:

    Bathrooms, soundproof music rooms, locker rooms, and other rooms that don’t have windows are excellent places to design as shelters close to where people congregate in public spaces like schools.

    Simple things, like dog-leg hallways should be getting built into public buildings as well. Some analysis should be done about whether or not these would also be simple security measures against low-frequency events like school shootings as well. Good design would solve several potential hazards simulltaneously.

  4. Montresor says:

    U. S. equities appear to be reaching a buying climax reminiscent of 1987. The price action since 11/15/12 has been overlaid against that infamous blow-off top here:

  5. ottnott says:

    This has Ritholtz written all over it – a map of all killer tornadoes in the US since 1950:

    It lacks dates, but I have no right to complain.

  6. willid3 says:

    6 things that got lost in the IRS brouhaha

  7. GrenfellHunt says:

    The most important news of the week: Zhang on prime numbers.

  8. Mike in Nola says:

    Looks like MSFT is starting to get better coverage in the tech press, and even some non-tech press.

    Don’t know if it’s new PR people or not. They may be learning from Nokia, which has done a really good job of product placement and some clever commercials.

    They introduced the new Xbox yesterday. Not my cup of tea, but it got some good press:
    Those who’ve gotten to play with the new Kinect found it very impressive.

    MSFT has also gotten a lot more aggressive in ads with lots of satire reminiscent of the old Apple v. PC ads. There has been the Scroogled series which have been criticized by Google fans as too negative, showing that they bite.

    Last week was the wedding brawl commercial, which may have been a Nokia project, but it was good satire poking fun at both Apple and Samsung:

    And today is a pretty clever one using Siri to sell the Surface:

  9. rd says:

    It looks like the median rally length would be significantly shorter than the average because of the 1942 outlier.

    I don’t think we had anything like El Alamein, Midway, Guadalcanal, and Stalingrad as turning points in 2009 to make the1942 comparison even remotely valid.

  10. Frwip says:

    “China Manufacturing Unexpectedly Contracts in Blow to Growth”

    Purchasing Managers’ Index at 49.6. Not great. That and the the funky numbers for exports to its regional trade partners the last few months. And commodities trending down and so on and so forth. Too early to say but more signs that China is indeed having a bit of a hiccup, or a landing.

    With Europe in the crapper and happily digging itself deeper into it and the sequester-addled bozos in DC ready to drain even more public spending over here, little things can start to add up and we may be in for an interesting summer…

  11. debrabradley says:

    Bernanke’s so diplomatic and word choice is elegant.

  12. PeterR says:

    Interesting opinion piece on Dyslexia:

    “I believe that scientific evidence and social observation will continue to show that defining dyslexia based solely on its weaknesses is inaccurate and unjust, and places too grim a burden on young people receiving the diagnosis. A more precise definition of dyslexia would clearly identify the disabilities that go along with it, while recognizing the associated abilities as well.”

    A good read in its (brief) entirety IMO.

  13. murrayv says:

    Chart of the day has a dumb implication, and this rally misplaced. The median is a lot more significant than the median and we are about 1500 days into this rally. 7 shorter, 5 longer with one of the longer being a complete outlier that skews the average. Given the economic conditions this rally is getting pretty long in the teeth.

  14. murrayv says:

    Should have said “than the average”