My afternoon train reading:

• Multiples Growing Fastest Since Dot-Com Bubble as Rally Ages (Bloomberg)
• The most qualified candidate for Fed chair isn’t Summers or Yellen. It’s this guy. (Wonkblog)
• Hedge funds’ small-cap picks crush the market (MarketWatch) but see Rethinking investment risk (EurekAlert)
• Beyond The Fiduciary Standard (Rick Ferri)
• Ballmer Departure From Microsoft Was More Sudden Than Portrayed by the Company (All Things D) see also Steve Ballmer’s Tenure As Microsoft CEO In Numbers (BuzzFeed)
• Activists Seek Short-Term Gain, Not Long-Term Value (DealBook)
• A Sweet Lesson in Price Perceptions (Sketch Guy)
• Why the U.S. Power Grid’s Days Are Numbered (Businessweek)
Wait, What’s That? The Science Behind Why Your Mind Keeps Wandering (Fast Company)
• Harlan Ellison: “Life to me is a great ironic joke” (Salon)

What are you reading?


The Future is still Bright!
Source: Calculated Risk

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.

17 Responses to “10 Monday PM Reads”

  1. “By no means was I treated as a hero when I first came forward. I was indicted and spent two years in court,” Mr. Ellsberg said in an interview. ‘But in those days, journalists were not turning on journalists. With Snowden in particular, you have a split between truly independent journalists and those who are tools — and I mean that in every sense of the term — of the government. Toobin and Grunwald are doing the work of the government to maintain relationships and access.’”

    Ellsberg: Jeffrey Toobin a government tool (NYT)

  2. willid3 says:

    what was great for banks in the 9i0s. not so good now. buying insurance on their employees.

    and this time its not even the employees fault.

  3. Bob is still unemployed   says:

    Why Do So Many Incompetent Men Become Leaders? (

    “…In my view, the main reason for the uneven management sex ratio is our inability to discern between confidence and competence. That is, because we (people in general) commonly misinterpret displays of confidence as a sign of competence, we are fooled into believing that men are better leaders than women. …”

  4. Livermore Shimervore says:

    Speaking Microsoft…..I’m reading Paul Krugman. Not an Apple fanboy apparently.

    • Bob is still unemployed   says:

      Speaking of Microsoft… there are two items on this page related to Microsoft

      - a 1983 product catalog (PDF) (think – a Microsoft spreadsheet, Multi-Plan, that runs in 64k of memory),

      - and -

      - a 1989 interview with Mr. Gates (PDF) at the Boston Computer Society.

    • Bob is still unemployed   says:

      Krugman: Back in the 80s, Microsoft and Apple both had operating systems to sell; Apple’s was clearly better. But Apple misunderstood the nature of the market: it said, “We have a better system, so we’re going to make it available only on our own beautiful machines, and charge premium prices.” Meanwhile Microsoft licensed its system to lots of people making cheap machines — and established a commanding position through network externalities. People used Windows because other people used Windows — there was more software available, corporate tech departments were prepared to provide support, etc..

      I remain unconvinced of what he says actually affected the ultimate market outcome. imo, Microsoft used predatory and rather dubious business practices that held the PC industry in Microsoft’s firm grip, effectively funneling the increasing profits of a nascient computing industry towards Redmond.

      The apparent leveraging of MS-DOS in order to build the market for Windows is more suspicious indeed.

      The big question that really needs to be answered is, did Microsoft Windows take over the PC market because it was an appropriate solution, or because it was effectively the only choice due to dubiously-created “network externalities”.

      • Iamthe50percent says:

        While Apple clearly made bad choices such as tying their software to their hardware and closing their operating system to outside developers, Microsoft became dominant because of shady and frankly illegal business practices (as determined by a court) such as illegal tying and using market power to freeze out the competition. Bill Gates is not a technical person as often stated. He is a great carney and con man, hands down.

      • Not sure Apple made such bad choices — they capture nearly all of the profits in Mobile

      • Bob is still unemployed   says:

        Two different Apples.

        The first, and the one to which I suspect Iamthe50percent referred was the pre-John Sculley Apple.

        The one to which you refer is the post-iPod “Jobs is back” Apple.

      • howardoark says:

        ““Bill Gates wants people to think he’s Edison, when he’s really Rockefeller. ” Larry Ellison

  5. Frwip says:

    The shark ! The shark ! It’s walking !!!

    Cool video of Hemiscyllium halmahera here :

  6. RW says:

    Speaking of distractions: From a news source I have learned to trust implicitly

    Let Me Explain Why Miley Cyrus’ VMA Performance Was Our Top Story This Morning

    Over the years, has become a news website that many people turn to for top-notch reporting. Every day it is visited by millions of people, all of whom rely on “The Worldwide Leader in News”—that’s our slogan—for the most crucial, up-to-date information on current events. So, you may ask, why was this morning’s top story, a spot usually given to the most important foreign or domestic news of the day, headlined “Miley Cyrus Did What???” …

  7. willid3 says:

    why we really pay to much for health care? and no it isnt the government

    they charge $546 for a saline (aka saltwater) bag that cost maybe at most a $1 to create.

  8. RW says:

    Sequester Watch, #19

    Head Start programs aren’t the only area where the sequester’s impact continues to sink in — see stories on scientific research, overburdened justice systems, low-income housing, economic growth and more below. …

    Remember …those who forget the sequester are doomed to repeat it.

  9. farmera1 says:

    The Gilded Age, when the 1%ers held most of the wealth. Sounds familiar, and the Supreme Court is a huge playa.

  10. S Brennan says:

    The White House just released this video on the internal debate that preceded John Kerry’s announcement that the Obama administration is “all but certain” that Dick Cheney had secretly delivered “Niger Yellow Cake” to Syria.