My Sunday pre-brunch reading:

• What if the Secular Bear market isn’t over?  (Business Insider) but see In Battle of the Market Timers, the Bulls Get It Right (WSJ)
Bill Gates: Three Things I’ve Learned From Warren Buffett (LinkedIn)
• Tim Cook is a Great CEO (Stratechery)
Bonds: We’ve Seen This Movie Before. It Doesn’t End Well (Motley Fool) see also Lost AAA Brings Falling Yields-to-Deficits on Downgrade (Bloomberg)
• Why the Markets’ Latest Stumbles Are Good News (Moneybeat)
• Father of modern 401(k) says it fails many Americans (Marketplacesee also Suddenly, Retiree Nest Eggs Look More Fragile (NYT)
• SCOTUS decision on gene patents is bad biology, and bad for science (Science Blogs)
• Fiscalists vs market monetarists, a bloggy taxonomy (FT Alphaville) see also Why I am a fiscalist (Noahpinion)
• 6 Ways To Create A Culture Of Innovation (Fast Company)
The Secret War: US’s New CyberWar capabilities are ready to unleash Hell (Wired) see also The 10 Most Powerful Militaries In The World (Business Insider)

What’s for brunch?

 

World primary-energy demand
20130615_INC805
Source: Economist

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 Sunday Reads”

  1. ilsm says:

    Napoleon said: in war the moral is to the physical as three is to one.

    The big guns/decks salesmen say: we can kill enough of them to make them love us.

  2. chartist says:

    Bernanke is aware there’s a whole lotta folks in defined contribution plans not ready for retirement. I don’t believe he’s going to permit, to the extent he can, the continuation of the volatility seen in the last dozen years.

    • call me ahab says:

      wasn’t aware Bernanke had a lifetime gig

      • Onemoretime says:

        Bernanke is also aware the zero rate interest policy does nothing for the savings of seniors in this country and that hasn’t seemed to stop him.

      • chartist says:

        He’s not interested in old people, there’s no future in them….we keep talking about interest rates for seniors but they should spend principal too, they aren’t taking it with them…..And I expect Bernanke’s replacement to be just like him.

  3. RW says:

    Sequester Watch

    Eight entries thus far in Jared Bernstein’s series on the growing damage of sequestration.

    Public attention span is short and historical facts drop down the memory rabbit hole faster than spit which means simply keeping track becomes an edge.

    Speaking of which …

    GunFAIL XXII

    This week’s collection includes four accidents involving law enforcement officers, four concealed carry ninjas, three gun range-related accidents, and three home invasion* shootings. No one I found this week has explicitly admitted having an accident while cleaning a loaded gun, so that’s a milestone. Though it must be admitted that several of the listed scenarios come suspiciously close. Unfortunately, there was no rest from the mounting tally of child victims of GunFAIL. This week’s group were aged 2, 4, 13, 14, 15 and 16, and we must note that police suspect both the two and four-year-olds were shot by other pre-schoolers. That trend, too, continues unabated.

    Of special note this week: the Beaver Creek, OR rifleman who decided he was safe in attempting to shoot squirrels in his yard with his .22, but ended up killing the neighbor’s 4-year-old black Labrador retriever (who was in her own yard) instead. That counts as a home invasion shooting, in my book. But it’s particularly worth noting because the odds are that this good guy with a gun would have sworn on a stack of bibles last week that he was a Responsible Gun Owner.TM And now, suddenly, he’s not. Instead, he’s just a really, really sorry gun owner. Not that it’s doing the neighbors or their dog much good. But for a while there, we were almost safe from the tyranny of squirrels, so it’s just the price of freedom, I guess.

    * “Home Invasion” normally means invasion by a bullet in this series.

  4. econimonium says:

    “Good artists copy, great artists steal” Picasso. That’s all you need to know about innovation. Oh sure, I’ve had the typical business school classes on it, read all the HBS material, etc but in the end the only thing you have to do, as a CEO is this: *wind the spring and let the mechanism go”. If you have a culture of personal responsibility, one where everyone can say whatever they want, even if they disagree with you, one where you’ll change your position if someone can convince you they’re right, and you encourage people to actually look at, dissect, and solve problems, the organization will naturally innovate. Period. I just saved you money on that course at HBS that you can now use for something innovative in your personal life. And remember there’s nothing really new, so steal steal steal and make it better. Combine ideas in new ways. Apply technology in new combinations. Solve real world problems and don’t build something looking for a problem to solve.

    And this is why I think the article about Tim Cook is spot on. He doesn’t need sycophantic followers like Jobs. He doesn’t need semi-deification like Jobs (which says more about Jobs than it does about what he was doing at Apple). All he needs to do is get rid of the people who aren’t able to form a team, wind the rest up, and let them continue with what was built and keep iterating. The ideas will naturally flow because he clearly sees that Apple is Apple and that’s part of what they’re now about. Don’t put your hand on the tiller…let others do the course-corrects as they iterate and try new things and be those people’s biggest cheerleader internally. Good ideas will arise and some bad ones. You let the bad ones die, and you let the good ones thrive because not everything is a hit at all times. I think Cook knows this, which is why I have respect for him I never had for Jobs. Megalomania is over-rated as an attribute of a CEO, as it is a Head Coach, Chairman of the Board, or leader of a country. Someone who can step back and let the team sing while adjusting the vocals will win every time.

  5. Chief Tomahawk says:

    Found a virtuous read at the library yesterday: “Off the Tourist Trail”

    http://www.amazon.com/Off-Tourist-Trail-Unexpected-Alternatives/dp/B0096DDWTI

    The knowledge of travel writers is assembled to provide worthy alternatives to overcrowded, commercialized sites. Book (LOTS of pictures!!!) works as coffee table and conversation material, not to mention as a handy reference guide for ideas on possible travel destinations. Get a copy and give it as a gift to a significant other–include the offer of a free trip to the destination of their choice (if financially possible).

  6. And yet the security establishment assures us all sorts of protection mechanisms are in place . . . Dick Cheney is about the last person I want to hear from on this subject.

    “Cheney also called Edward Snowden a ‘traitor,’ expressing suspicion that the leaker was a Chinese spy all along.”

    Cheney: Edward Snowden is a Traitor, Maybe a Chinese Spy

    http://goo.gl/bTUhe

  7. willid3 says:

    the war on the work force

    http://economistsview.typepad.com/economistsview/2013/06/dont-blame-the-work-force.html

    there isn’t a lack of skills, or lack of education. what there is, is a lack of willingness to pay workers. and to try and out source on the job training to government and colleges and universities. its also why business is so much in favor of immigration because immigrants are willing to work for a lot less. and since business doesnt want to pay workers, but oddly will lavish bonuses etc on executives, and extra helpings of benefits (consider companies cancel workers pensions, but boost executive pensions, care to guess which one was more in trouble? if you said executive pensions, you would correct). course this reminds me a story about Henry Ford and the head of the companies unions. seems they were touring a new plant. and Ford was touting the then new robots (very primitive compared to today). The union president was impressed but asked a curious question. he observed they were impressive, and well trained, he wonder when Ford was going to be able to convince them to buy his cars? thats the same problem that companies have with off shoring. their costs are lower, but their sales will be too

    • willid3 says:

      which if you think about it, declining sales is exactly what ever one has noticed. but profits are up. and then every one wonders how long can you keep that. cutting sales and cutting expenses can only lead to one thing. 0 sales

  8. farmera1 says:

    Remember the old saw; sell the company that builds new big and lavish headquarters.

    http://www.businessinsider.com/new-hqs-for-apple-google-amazon-and-facebook-2013-5

    “Historically, however, when a company becomes preoccupied with the grandeur of its premises, it often signals a high point in its fortunes. These fantastical buildings may end up as little more than costly monuments to vanity and a loss of focus on the core business that made for success in the first place.”

  9. VennData says:

    Putin denies stealing Kraft’s Super Bowl ring

    http://espn.go.com/boston/nfl/story/_/id/9392090/vladimir-putin-denies-stealing-new-england-patriots-owner-robert-kraft-super-bowl-ring

    ​Batten down the hatches​. This is a SERIOUS rift in US/Russo relations. Syria’s nuthin’ compared to this.

    Tell me how your sequester helps us NOW Tea Party Boy! We’re goin’ toe-to-toe with the Ruskies!

  10. PeterR says:

    Uh oh, someone spilled the beans . . .

    http://www.dilbert.com/strips/

    HAL
    2013 — A Space Odyssey