My morning reads:

• What Happens When You Buy Assets Down 80%? (Mebane Faber)
• Gold Slips to 34-Month Low as Precious Metals Slide on Fed View (Bloomberg) see also Bottom Is Falling Out of Copper Prices (WSJ)
• Guru Networks Sell Social Investing to Copycat Traders (Bloomberg)
• Housing Market Shrugging Off Rise in Mortgage Rates (NYT) but see Run-up in mortgage rates raises questions about housing recovery (Los Angeles Times)
• Making a Case for Transparent Corporate Accounting Information (University of Berkeley)
• Stevenson and Wolfers on Happiness, Growth, and the Reinhart-Rogoff Controversy (Library of Economics and Liberty)
• When good intentions go wrong: Effects of bank deregulation and governance on risk taking (Vox)
• Airplane electronics bans: please return your fury to the ‘off’ position (theguardian)
• What is skeuomorphism? (Economist)
• Archimedes: Separating Myth From Science (NYT)

What are you reading?

 

Chart of the Day
Chart
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 Mid-Weeks AM Reads”

  1. PeterR says:

    Some pretty good geographic slip-ups here:

    http://www.telegraph.co.uk/travel/travelnews/10143022/Around-the-world-in-20-gaffes.html?placement=mid1

    It is hard to imagine these people running the world.

  2. a2ricedgti says:

    Re: “What Happens When You Buy Assets Down 80%?” ….what’s that quote? “If you show me a stock down 90% Ill show you stock that was down 80% then lost half its value.”

    The article could use some more examples in my opinion. It is a bit sparse with the data.

    • Mebane was NOT referring to individual or specific stocks, he was referencing sectors, industries, and countries (i.e., asset classes). HUGE difference!

  3. Super-Anon says:

    What is the source of that price data?

  4. Moss says:

    The Fed’s GDP forecast is already way off. I just do not see the GDP, inflation or employment hitting what they expect.

    http://www.bloomberg.com/news/2013-06-26/economy-in-u-s-expanded-less-than-projected-in-first-quarter.html

  5. cowboyinthejungle says:

    Last night in Texas, a heartening show of democracy in an otherwise dying political landscape.

    http://www.usatoday.com/story/news/nation/2013/06/26/texas-filibuster-wendy-davis/2459163/

  6. willid3 says:

    so how long have we been worried about things just going to fast (aka modernity)/

    http://www.guardian.co.uk/science/the-h-word/2013/jun/24/technology-history-modernity-speed-fears

    would you believe since the 1600s? at least we can go that far back and see concerns being voiced about the speed of life. and thats about as far back as we probably go because before that record keeping was all that good

  7. willid3 says:

    incomes re dropping unless you are in the 1% of course

    http://www.nationalmemo.com/wages-fall-at-record-pace/

  8. Joe Friday says:

    Speaking of the downward revision in GDP, will this be yet another of how many years in a row of the phenomenon of the economy surging ahead over the Fall and early Winter with healthy gains in both GDP and employment, only to be followed by a faltering swoon by Summer ?

    WTF ?

  9. Bob A says:

    New VW Golf TDI BlueMotion is ‘most fuel-efficient ever’ with 73.5 mpg
    http://green.autoblog.com/2013/06/26/new-vw-golf-tdi-bluemotion-is-most-fuel-efficient-ever-with-73/

  10. DeDude says:

    Oh the horror of knowledge and expertise

    http://robinince.wordpress.com/2013/04/14/the-fascism-of-knowing-stuff/

    I guess the real problem is that in order to use knowledge and expert opinions you kind of have to have a certain minimum of intellect and experience in judging sources and approaches. It’s so much easier to say “he agree with me so he must be an expert” – and that is about as bad as just going with your “gut feeling”.

  11. VennData says:

    Josh Brown says Hedge Funds are pussies. He’s right.

    http://www.thereformedbroker.com/2013/06/25/so-who-bought-the-dip/

    “…The hedge fund segment sold again last week, three in a row. They are now net sellers of the equity market on the year – they were only net buyers during the March and April period of new highs, because, en masse, they are essentially benchmark-chasing pussies who jump in and out of the tape like they’re “managing risk” and then lever up like maniacs when they begin to trail the markets…”

  12. Willy2 says:

    Falling copper (& commodity) prices are a danger for the US, because it will push US interest rates higher. As a result, the (negative) gap between the US budget & the US Current Account Deficit increases.

  13. VennData says:

    http://www.cnn.com/2013/06/25/politics/scotus-voting-rights/index.html

    Paula Deen can now win a long-coveted Senate seat! Hooray for voting!

    Thanks for those justices GOP voter!