Good Saturday morning! Here are some of the longer-form journalism that I have saved for your weekend reading pleasure.

• The dangerous combination of HFT+Twitter: Speed Kills  (New Yorker)
• The Big Short War (Vanity Fair)
Nate Silver: What Big Data can’t predict (Fortune) see also The Rise of Big Data How It’s Changing the Way We Think About the World (Foreign Affairs)
• Meet The Guy Who Helped Google Beat Apple’s Siri (Forbes)
• The Real Me: The internet’s unforgiving archive of our flaws (The Morning News)
The Criminal Mind: The field of neurocriminology is revolutionizing our understanding of what drives “bad” behavior (WSJ)
Top Secret: A hidden world, growing beyond control (Washington Post)
• Seeing Stars: The big science of building a giant telescope (Harvard Magazine)
• Octopus: The Footed Void (The New York Review of Books)
• The Uncensored Oral History of ‘The Hangover’ (Hollywood Reporter)

What is up on this glorious weekend?

 

Job Growth Better Than You Think
Chart
Source: MoneyBeat

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.

14 Responses to “10 Weekend Reads”

  1. DeDude says:

    So you go through 4 years of medical school ending up with 250K of debt and then there are no slots to get you the additional training to become a practicing physician? That is the case for 6% of the MD and 25% of the DO graduates. With a predicted shortage of physicians of more than 100K within a decade that is nothing short of insane. Medical shools have increased their class sizes to graduate more MDs but nobody have increased the number of training slots such that they can be turned into physicians.

    http://centralny.ynn.com/content/top_stories/652933/legislation-introduces-to-increase-physician-residency-programs/

  2. for those that didn’t believe that ‘Iraqistan’ was, also, a “Practice Field”–to be brought ‘Home’, now, CBS will tell you..

    ‘Counterinsurgency Methods Used to Fight Gang Crime’
    May 3rd, 2013

    Via: CBS:

    Massachusetts State Trooper Mike Cutone realized that the methods of the insurgents he combated as a Green Beret in Iraq were similar to those used by the Springfield gangs. “Insurgents and gang members both want to operate in a failed area,” he tells Stahl, referring to the breakdown in cooperation between the citizens and authorities. “They know they can live off the passive support of the community, where the community is not going to call or engage the local police,” says Cutone.

    So he helped form an anti-gang unit of troopers who work with the Springfield Police Department employing tactics right out of his old military manual. Key to the strategy in the old New England town — just like in Baghdad or Basra — was re-engaging the citizens and making them allies instead of impediments. “We’re using the other 99 percent of the population that live there. Winning them over,” says Cutone. “They become our eyes and ears …floodgates have opened for criminal information that we can go after now.”

    Posted in COINTELPRO, Collapse, Economy, Police State
    http://www.cryptogon.com/?p=34952

  3. PeterR says:

    Ah, what a delicious alignment: Twitter the bait, and HFT the quick setting of the hook. Gotcha . . .

    Delicious!

    Tweet dreams . . .

    HAL
    2013 — A Space Odyssey

  4. Mr.Tuxedo says:

    As to that Herbal Life ongoing saga, I recalled and include the appropriately relevant Bronte Capital piece:

    There was a similar situation discussed a long time ago concerning Kodak between some slightly influential titans of business.

    “Warren Buffett has a group of his best investing friends get together once a year. He originally called it the Graham group in honour of his mentor Ben Graham who presented at the first annual meeting in 1968. By 1991 the group had expanded somewhat to include not only the original fabulous stock pickers but some business luminaries who could help enlighten the group on the nitty-gritty of their industries. One regular attendee was Bill Gates of Microsoft fame. From here I will quote Alice Schroder:

    After a while Buffett asked everyone to pick their favourite stock.

    What about Kodak? asked Bill Ruane. He looked back at Gates to see what he would say.

    “Kodak is toast,” said Gates.

    Nobody else in the Buffett Group knew that the internet and digital technology would make film cameras toast. In 1991, even Kodak didn’t know it was toast.

    Gates was right of course – and since 1991 Kodak has been a terrible stock – and I would have counted Bill Gate’s comments as “knowledge” in as much as a statement about markets and technology could be knowledge. But it would be an awful long time before that “knowledge” would be reflected in stock prices. Here is a graph of the stock price since 1 Jan 1990. ”

    So perhaps the moral of the story is one can be right, but have to wait a very long time for the premise to show its true colours.

    All of these players should be using Bayesian forms of probability to come up with their conclusions.

    That seems to me as the right approach that Ackman should give equal weight to, some evidence based information.

    Incidentally, one other hedge fund (actually a pooled investment fund) also may have had a concentrated part of his focused fund in HLF.

    Ken Heebner’s CGMFX certainly had shares there and I surmise his PIF did as well.

  5. KeithRichard says:

    And another one bites the dust. The famous Jeff Vinik. Takes some talent to under perform that much in a bull market.

    http://online.wsj.com/article/SB10001424127887324766604578460894127773324.html

    • Familiarize yourself with the Bell Curve!

      Most people — both active fund managers as well as corporate execs — under-perform.

      It ain’t called out-performance for nothing if everyone can do it!

  6. hue says:

    Comfort Dogs Coming to Your Emotional Rescue (Diane Rehm) Hush Puppies, Destressing Dogs (WaPo)

    The Tragedy of Benji Wilson. Magic with a Jump Shot (ESPN 30 for 30)

  7. VennData says:

    ‘We Will Never Surrender Our Guns, Never,’ N.R.A. Official Says

    Mr. LaPierre said the “political and media elites” have tried to use December’s shooting at an elementary school in Newtown, Conn., and other recent shootings “to blame us, to shame us, to compromise our freedom for their agenda.”

    http://www.nytimes.com/2013/05/05/us/we-will-never-surrender-our-guns-never-lapierre-tells-nra-members.html

    My personal agenda is to have some fun with these knuckleheads. Let’s all get behind a complete ban on guns punishable by extrajudicial mobile home invasion by ATF agents wearing UN helmets while they sing the Harvard fight song. On down to BB guns and slingshots. Complete total ban, and send violators to gay marriage sensitivity camps, Sunday flag burnings, and forced emigration to Canada for any illness.

  8. franklin411 says:

    Niall Ferguson says that Keynesian economics is invalid because Keynes was gay, and gay people don’t care about the future.

    http://www.businessinsider.com/harvard-niall-ferguson-remarks-about-keynes-2013-5

  9. Syd says:

    Rolling Stones release low-priced seats ahead of L.A. show

    http://news.yahoo.com/rolling-stones-release-low-priced-seats-ahead-l-014426152.html

    $85 is low?

  10. James Kostohryz says:

    Hi Barry:

    I unmodestly point you to my most recent article. It discusses an issue that you have written on extensively: The role of excess liqudity in the formation of asset price bubbles:

    http://seekingalpha.com/article/1395991-why-a-stock-market-bubble-is-forming-right-now