My pre Fourth of July reads (hey, the weather stinks today, so I have to do something productive!)

• CNBC Quarterly Ratings Fall To Lowest Level Since 1994 (ValueWalk)
• The Hunt for the Never-Been-Done ETF (WSJ) but see Coming Soon: TBTF ETF (TBP)
• Gartner: Tech Spending Will Reach $3.7 Trillion in 2013 (All Things D)
• A reasonable look at 5 (really 4, 1 is repeated) things that could derail US equities this summer (USA Today)
• The Rise Of Real Yields (The Capital Spectator)
• Jose de la Vega’s Investing Rules (Crossing Wall Street) see also Portfolio Managers Face Their Kobayashi Maru (The Reformed Broker
• ‘World’s largest building’ opens in China (CNN)
• Federal Reserve wont wait for Congress dithering, orders Basel set aside capital rules implemented (Washington Post) see also Banks benefiting from “taper” on both sides of the balance sheet (Sober Look)
• Remedies for Better Cellphone Signal and Quality (NYT)
• Why Americans Are Eating Fewer Hot Dogs (Businessweek) see also What yellow commodity is hotter than gold? (MarketWatch)

Where are you off to this long weekend?

 

The Hunt for the Never-Been-Done ETF
MI-BW916_ETFNAM_G_20130702180904
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.

15 Responses to “10 Mid-Week Reads”

  1. eroldictat says:

    Words can barely express my joy at the continued decline of CNBC’s ratings. At my shop, we implemented a CNBC-free zone in 2008-09, emboldened by John Stewart’s take-down of the channel on the Daily Show. We had always felt that CNBC was actually harming our ability to be investors and actually subtracting from our understanding of news and markets. Best decision we ever made — and I’m happy to see that others concur. Free your mind from financial porn!!

  2. MayorQuimby says:

    CNBC should just change their name to the Sell-Side Broadcasting Network already.

  3. theexpertisin says:

    CNBC is of little interest to seasoned investors or to mom and pop casual investors interested in financial matters other than general stock talk.With Fox Business (with increased ratings) catering to the latter and Bloomberg to the former, CNBC is in no man’s land.

    Curiously, MSNBC’s ratings have tanked as well. Big time.

    GE is likely breathing a sigh of relief for the jettison of both channels.

  4. RW says:

    That makes it less useful in its primary purpose as a sentiment indicator (cf. Lord Keyne’s beauty contest). Good thing there are alternatives, eh.

    • RW says:

      Meant this as a reply to comment on CNBC …sometimes I get an indent, other times not; odd [shrug]

  5. visualvirtuoso says:

    The images used in CNN’s Chengdu New Century Global Center are CAD renderings and not photographs. Althought it’s not all that uncommon to use these to illustrate newly completed structures, including captions like ‘workers carry out last minute touches at the New Century Global Center’s waterpark’ when those workers were never ‘there’ in the first place is disingenuous, to say the least.

  6. farmera1 says:

    The Velocity of Money

    http://www.businessinsider.com/art-cashin-friends-in-a-frenzy-over-monetary-velocity-2013-7

    Pushing on a string, banks sitting on money. Until the velocity improves it will be difficult to get the next bubble moving.

  7. mathman says:

    Here’s another quick read for you (& sorry I didn’t catch that you had already seen the last offer I made):

    http://arxiv.org/abs/1306.3554

  8. PeterR says:

    Barry, any chance you could translate the column in John Mauldin’s recent newsletter about the price of gold into lay language?

    http://www.mauldineconomics.com/images/uploads/pdf/2013_07_03_OTB2.pdf

    If I am reading this correctly, isn’t Mr. Hunt’s faith in the central banks of the world a little scary?

    Hope the weather improves for the Fourth.

    Thanks.

  9. RW says:

    Felix Salmon is appropriately skeptical of the Winklevoss twins proposal to create a Bitcoin Trust, avering that it will be a cold day in Hell before the SEC permits such a thing, but also sounds a note of caution on a couple other innovations including ETF’s.

    Financial innovation of the day, Winklevii edition

    As Jonathan Kahn notes today in a letter to the FT, it’s never particularly reassuring, in the wake of the financial crisis, that an asset class is supported by large banks who have a financial incentive to provide liquidity to the market. Because when you really need that liquidity, those banks are going to be nowhere to be found.

    If this is a problem with ETFs in general, it’s a particularly enormous problem with the Winklevii’s monstrosity. So, rather than paying any further attention to their ridiculous stunts, I would advise a much more sensible alternative for anybody looking for an easy and legitimate way to buy and store bitcoins. Here’s a press release from OpenCoin today, announcing that anybody with a Ripple account — something you can easily set up for free, online, in any currency … — can now use that account to pay anybody in the world in bitcoins. …it does everything that the Winklevii are offering to do, plus a lot more, without charging a management fee.

  10. Arequipa01 says:

    This link provides a transcript and a recording of a dialogue between NSA recruiters and a student from the University of Wisconsin- she brutalizes them with all the while maintaining a polite tone- yay America! and I mean it…

    http://mobandmultitude.com/2013/07/02/the-nsa-comes-recruiting/