My morning reads:

• The Tale of Apple Average Selling Price (Marketing Strategy and Pricing) see also Is Apple Really Going to Join a Race to the Bottom? (Businessweek)
• Keep Investing as Simple as Possible (Motley Fool)
• Strongest Bull Market In 65 Years (The Reformed Broker) see also Historic market rise underway (msnmoney)
• The Death of Peak Oil: End of a Flawed Theory (Fiscal Times)
• Has value investing worked in Japan’s long bear market (1990 to 2011)? (Greenbackd)
• Sorry, commodities are a poor diversification tool (FT Alphaville) see also Do Commodities Speculators Make Things Cost More? (Harvard Business Review)
• Why slower U.S. home sales signal a good recovery (Fortune)
• The Burmuda Triangle of Punditry (PunditTracker)
• Easing of Mortgage Curb Weighed (WSJ)
• Apparently Undergraduate Finance Students Believe in ESP (MoJo)

What are you reading?


Apple Sales: Profits or Volume
Source: WSJ

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.

24 Responses to “10 Mid-Week AM Reads”

  1. Moe says:

    i know it’s outside your normal realm, so I do not direct this toward you Mr. Ritholtz, but, (depending on what source you believe) 250 – 500 AlQueda militants escaped an Iraqi prison on Monday and nary a whisper on the interwebs and TV….I find it quite puzzling – I guess the TSA and NSA must redouble their efforts now!

  2. VennData says:

    Trust your feelings. Believe. Don’t listen tot he data and gloat when you win.

    Wellll… not so much in this case. Airhat Rogers is a snake-handling dope.

  3. Global Eyes says:

    Some one had to be last to get a cell phone. I’m reading a Wiley book about my Galaxy S 4. First to post, last to text…

  4. Willy2 says:

    “The Death of Peak Oil: End of a Flawed Theory”

    This is a good example of how a lot of people in the US fail to understand the true dynamics of the energy complex. What a lot of folks fail to understand is the impact of the upcoming extremely sharp decline in demand for energy. Everyone looks at supply and doesn’t look at demand. Everyone assumes demand will increase or – at worst – remain flat. Peak Oil ? YES, but NOT in the way A LOT OF folks assume it will play out. “Energy Independence” ? YES, but NOT in the way A LOT OF people assume it will play out. And the majority of US citizens (e.g. John Mauldin) fail to see the detrimental financial impact of “Energy Independence” on the finances of the US.

    And then one should not only look at oil but at natural gas, coal & nuclear energy as well. And when one looks at nuclear energy, the “Big Picture” becomes much, much worse than in the most dire forecast I’ve ever seen. But hey, don’t worry, we’re americans and we can fix everything, right ?

    • WallaWalla says:

      I’m not really sure what you are getting at.

      What is going to drive an “upcoming extremely sharp decline in demand for energy”? There are physical limits to the efficiency of engines…

      What are the financial detriments of energy independence?

      What exactly is so dire about peak uranium? Current supplies could last millions of years even with rapidly growing consumption.

      I’m curious because you’re throwing out some hefty claims but doing nothing to support them.

    • san_fran_sam says:

      What people forget or ignore is that Peak Oil was about production. New technologies and higher oil/gas prices relative to the 1970s have made it possible and economical to extract oil and gas from what once were unprofitable fields. In fact, it was the higher prices that led to the development of the technologies.

      Oil and gas are still a fixed and non-renewable resource (unless you are looking at 100,000,000 year cycles). So peak oil and gas will come someday. Maybe not in our lifetimes, but our grandchildren’s.

      Peak Oil is not dead. It’s just been given a stay of execution.

  5. mathman says:

    Peak Oil is dead, and so is life on Earth as a result (of all the CO2 that results, decimating the climate and ecosystems from forest to ocean, killing agriculture, and rendering humanity extinct in the near term – before 2100).

    Business as usual is killing us but we’re so stupid as a species that we refuse to believe it. Infinite growth on a finite planet is impossible, but to hear these pundits speak, that can simply be ignored because capitalism is king!

  6. VennData says:

    ​Innocent man carrying his own interest, attacked by wanton thugs infused with Obama’s three-letter department culture divides country down lines of rational versus crazed liberals demanding blood.


    Cohen has to defend himself any way he can.

  7. SkepticalOx says:

    Don’t agree with Is Apple Really Going to Join a Race to the Bottom? (Businessweek) article. Apple has two problems regarding the iPhone: it isn’t far and away the best anymore in terms of performance/features, and people opting to start off on Android using a low-cost smartphone, could end up more locked into the Android universe and just move up in terms of hardware if they want to upgrade.

    Personally, the last time I upgraded my smartphone I went with an iPhone 5 mainly because of the hassle of transitioning to an Android phone vs. the ease of having everything there already on my iPhone 5 – but I got really close to switching.

    Also, the whole low-end disruption thing (Innovator’s Dilemma) might be applicable here.

  8. mrflash818 says:

    re: “The Death of Peak Oil: End of a Flawed Theory”

    Egypt just recently switched from being an Oil Exporter to now being an importer. Mexico also now in decline, and seems to be exporting less than half what they did in 2005:

    “Energy Export Databrowser”

  9. Mike in Nola says:

    Another rich trusting athlete taken to the cleaners by advisers:

  10. S Brennan says:

    Do Commodities Speculators Make Things Cost More? (Harvard Business Review), is a clever piece in that it conflates Adam Smiths approval of future contracts between farmer [producer] and miller [consumer] with side bets on the direction of price over time [synthetic price speculation].

    Since Adam Smith disapproved of gambling in his book Theory of Moral Sentiments, this is quite a bold abuse of a dead man’s good name. There is a considerable distance between taking on “natural” risk say, enlisting on December 8th 1941, and speculative gambling, say, two wise guys betting on who in the enlistment line will come back in a coffin. And it only gets worse with scale, as big betters try to “dope the ponies” that they have bet upon.

  11. willid3 says:

    is austerity the economic equivalent of blood letting?

    and its not exactly a new creation. and it seems to always be supported by those who are favored by increased austerity.
    while the 99% are punished by it. even though they had nothing to do with it.

  12. RW says:

    Obama gives a good speech on the economy: His heart is in the right place but he still gets the economics wrong.

    Good policy takes more than heart and the POTUS has already demonstrated he doesn’t trust or like a woman to instruct him in this regard (exit Romer) so it looks like Ezra may be right: new Fed chair is probably going to be Summers …damn!

    • Greg0658 says:

      Steven Rattner (car czar) sounds good & informed in his 5% face time .. not sure what qualities make a great button pusher for paperpushers tho

    • DeDude says:

      There are two litmus tests for Obama. One is whether he appoints Summers, the other whether he approve the Keystone pipeline. If he makes a mistake in either of those, then he clearly is owned 100% by Wall Street and the real democrats will declare war on him and do what they can to sink his 2′nd term.

  13. willid3 says:

    why not a Tobin tax?

    given wall streets and banksters proclivity to create financial disasters?

  14. VennData says:

    Delll to chanrg voting rules


    Why not just Putin run it for you Michael Dell? Or Let the Supreme Leader vet who can own it?