My Sunday reading:

• Wonder Material Ignites Scientific Gold Rush (WSJ)
• How Computers Took Over Trading (The Ticker)
• Six Opportunities Steve Ballmer Missed at Microsoft (Bloomberg) see also Exit Sandman (The Reformed Broker)
• The Confidential Memo at the Heart of the Global Financial Crisis (Vice)
• What Determines the Return on Gold? (Noahpinion)
• David Kotok is Bullish on the U.S., and Bullish on ETFs (Barron’s)
• Portfolio Solutions versus DFA: Factor This (Rick Ferri)
• Why Wall Street, Insurers Don’t Want Fiduciary Duty (Forbes)
• Mr. Geek Goes to Washington (Economist)
• The 35 Greatest Animal Photobombers Of All Time (BuzzFeed)

Whats for Brunch?

 

Fed Seeks More Control Over Rates
Chart
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.

11 Responses to “10 Sunday Reads”

  1. RW says:

    GunFAIL XXXII

    …Lots of kid victims this week, averaging out with the low total last week. Ages 2, 3, 3, 4, 12, 12, 14, 15, 15, and 16.

    Other especially noteworthy stories: the tragedy in Tennessee, in which a father’s accidental discharge of his AR-15 set off an explosion and fire that killed him and his 12-year-old son, and; the day after local hero Antoinette Tuff talked down the would-be school shooter in Atlanta, a security guard at Savannah State University accidentally discharged his weapon into an occupied classroom. …

    NB: Repetition can also be an invitation to reflect as this note to TPM’s Josh Marshall illustrates

    Not sure what kind of feedback you are getting on your constant drumbeat of articles about accidental child gun deaths, but, as a gun owner in gun country, I have gradually come to appreciate it. …

  2. denim says:

    • The Confidential Memo at the Heart of the Global Financial Crisis (Vice)

    http://www.ritholtz.com/blog/2012/08/roosevelt-to-dissolve-the-unholy-alliance-between-corrupt-business-and-corrupt-politics-is-the-first-task/

    This is FDR’s Acceptance Speech for the Renomination for the Presidency, Philadelphia, Pa.
    June 27, 1936. Some call it the rendezvous with destiny speech. I might call it the Dante’s Inferno speech.
    “Governments can err, Presidents do make mistakes, but the immortal Dante tells us that divine justice weighs the sins of the cold-blooded and the sins of the warm-hearted in different scales.

    Better the occasional faults of a Government that lives in a spirit of charity than the consistent omissions of a Government frozen in the ice of its own indifference.

    There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny.”

    Just add 70 years or so to the date an you have an accurate picture of U.S. current events… except a replacement for FDR’s charitable government is not to be found in Washington.

    Seventy years later, I wait for the scales of divine justice to arrive.

    http://www.presidency.ucsb.edu/ws/index.php?pid=15314

  3. rd says:

    Don’t date anybody who works for the NSA if you want to have a private life:

    http://blogs.wsj.com/washwire/2013/08/23/nsa-officers-sometimes-spy-on-love-interests/

    It is very amusing that a newspaper owned by Rupert Murdoch broke this story instead of being the subject of it.

  4. swag says:

    Did Bobby Riggs throw the match against Billy Jean King to have a gambling debt forgiven?

    http://espn.go.com/espn/feature/story/_/id/9589625/the-match-maker

  5. Jojo says:

    Rally cool website! Never come across it before.
    =========
    How the Speed of Light was First Measured
    Karl Smallwood August 14, 2013

    The speed of light in a vacuum stands at “exactly 299,792,458 metres per second”. The reason today we can put an exact figure on it is because the speed of light in a vacuum is a universal constant that has been measured with lasers; and when an experiment involves lasers, it’s hard to argue with the results. As to why it comes out somewhat conspicuously as a whole number, this is no coincidence- the length of metre is defined using this constant: “the length of the path travelled by light in vacuum during a time interval of 1/299,792,458 of a second.”

    Prior to a few hundred years ago, it was generally agreed or at least assumed that the speed of light was infinite, when in actuality it’s just really, really, really fast- for reference, the speed of light is just slightly slower than the fastest thing in the known universe- a teenage girl’s response time if Justin Bieber were to say on Twitter, “The first to reply to this tweet will be my new girlfriend.”

    The first known person to question the whole “speed of light is infinite” thing was the 5th century BC philosopher Empedocles. Less than a century later, Aristotle would disagree with Empedocles and the argument continued for more than 2,000 years after.

    http://www.todayifoundout.com/index.php/2013/08/how-the-speed-of-light-was-first-measured/

  6. Jojo says:

    The world’s first bullet-proof COUCH! $6,700 ‘CouchBunker’ can stop a .44 Magnum bullet and store 30 guns inside

    * Fire-rated safe storage can store up to 30 rifles inside the couch
    * Portable cushions can be worn as armour and will stop a .44 Magnum bullet
    * Manufacturer says the sofas come in a variety of colours and materials
    * They also double up as a comfortable guest beds, firm says

    17 August 2013

    http://www.dailymail.co.uk/news/article-2395483/The-world-s-bullet-proof-COUCH–6-700-CouchBunker-stop-44-Magnum-bullet-store-30-guns-inside.html

  7. Jojo says:

    Take away – eliminate legacy thinking…
    =========
    The Economist explains
    How did Estonia become a leader in technology?
    Jul 30th 2013

    WHEN Estonia regained its independence in 1991, after the collapse of the Soviet Union, less than half its population had a telephone line and its only independent link to the outside world was a Finnish mobile phone concealed in the foreign minister’s garden. Two decades later, it is a world leader in technology. Estonian geeks developed the code behind Skype and Kazaa (an early file-sharing network). In 2007 it became the first country to allow online voting in a general election. It has among the world’s zippiest broadband speeds and holds the record for start-ups per person. Its 1.3m citizens pay for parking spaces with their mobile phones and have their health records stored in the digital cloud. Filing an annual tax return online, as 95% of Estonians do, takes about five minutes. How did the smallest Baltic state develop such a strong tech culture?

    The foundation was laid in 1992 when Mart Laar, Estonia’s prime minister at the time, defibrillated the flat-lining economy. In less than two years his young government (average age: 35) gave Estonia a flat income-tax, free trade, sound money and privatisation. New businesses could be registered smoothly and without delays, an important spur for geeks lying in wait. Feeble infrastructure, a legacy of the Soviet era, meant that the political class began with a clean sheet.

    http://www.economist.com/blogs/economist-explains/2013/07/economist-explains-21

  8. Jojo says:

    The Best Speaker Cable
    August 25, 2013
    Geoff Morrison

    Our research shows there really is no best speaker cable. But the Monoprice 2747 12 gauge is the speaker wire I’d buy. I base this on extensive research on available cables and actual listening tests. The 2747 offers excellent value, solid construction, and, perhaps most importantly (and surprisingly), better sound quality. But keep in mind that this is the least important piece of gear in your entire home theater setup and the impact it makes is negligible.

    Why should you believe me?

    http://thewirecutter.com/reviews/the-best-speaker-cable/

  9. S Brennan says:

    The graphene story [on which I think you posted something earlier] is interesting in that it shows how the patent system is abused by capitol. Most of the patents can be described as:

    With this new material [x] you could do the same thing we did with [y].

    This is hardly original thinking, but simply a description of potential. But perhaps the APOLLO PROGRAM should have paid Jules Verne’s decedents for the copyrights to go to the moon?

    And by doing the cheap part [grabbing a patent...without reducing design/process to practice] you create an impediment to progress, as those willing to do the hard work [and spend money] must pay the parsimonious, “investor”, who is little more than welfare bum looking for a government sponsored hand out.

  10. Lyle says:

    On the Forbes article, one other alternative is to divide the customer job into order takers and advisors. Allow a person to choose an execution only account, i.e. orders are taken, fulfilled and records kept, but no advice is provided. This is of course the model of many low cost brokerage houses. Use a web site to take the orders and just process them. Then any sales call would be prefaced with a disclaimer that this suggestion may not be in your best interest, study yourself and your situation.
    Move any financial advice to a direct fee for advice model, not supported by commissions.
    Tell the public that near paranoia about the financial disservices industry is warranted, in particular advice you get that you did not pay for is worth what you paid for it.

  11. nofoulsontheplayground says:

    The secret plane stuffed full of cash that saved the euro: When Greece burned and its banks melted, the EU talked tough and threatened to cut it loose… but covertly flooded it with €10billion

    The European bank Troika boosted Greek banks through secret flights

    Billions of euros were flown to Greece and Cyprus to save the currency

    By Faisal Islam
    PUBLISHED: 16:00 EST, 24 August 2013 | UPDATED: 07:58 EST, 25 August 2013

    http://www.dailymail.co.uk/news/article-2401410/When-Greece-banks-melted-EU-talked-threatened-cut-loose–10billion.html