My afternoon train reading:

• Leveraged ETFs, the Flash Crash, and 1987 (Moneybeat)
• The Four GOP States That Have Officially Adopted Obamacare (Talking Points Memo)
• How $40k can add $1 million to retirement (MarketWatch)
• 10 mega-trends that make the super rich richer (MarketWatch)
• NSA gathered thousands of Americans’ e-mails before court ordered it to revise its tactics (Washington Post)
• Amazon Ramps Up $13.9 Billion Warehouse Building Spree (Bloomberg)
• The Johnny Appleseed Business Model (priceonomics) see also Are Summers for Startups? (priceonomics)
• 10 Most Popular MAKE Videos of all Time (Makezine)
• The Humble Story Behind The Ubiquitous Coffee Sleeve (Fast Company)
• How Song Selection Can Be a Driving Distraction (WSJ)

What are you reading?


S&P 500 Earnings (Inflation-Adjusted)
Source: Chart of the Day

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 Thursday PM Reads”

  1. VennData says:

    Obama Vows to Shame Colleges Into Keeping Costs Down

    By posting to FB videos of every on-campus AM “Walk of shame.”

  2. swag says:

    “I am a terminal cancer patient. My insurance company, formerly ODS, is now Moda. Last week I received notice that Moda would no longer pay for one of my prescriptions on the same day I read that it reportedly paid $40 million to have its name on the Rose Garden.”

  3. rd says:

    It looks like the long-term trend line would have earnings at about $70, @ 20% lower than today.

    Also, post-deregulation big earning swings look a lot like the pre-regulation swings in the forst 40 years of the century.

    However, my understanding is that the deep earnings cuts are all temporary downward blips that are not representative of anything meaningful while the higher levels of earnings are justified by a sustained high plateau of excellence in corporate management and therefore should be the sole basis of investment decision-making.

  4. RW says:

    Going Off the Deep End With David Walker

    Yesterday the Associated Press fielded its entry in the classics in bad reporting on economic policy contest: a profile it did of David Walker, the former head of the Government Accountability Office and also former president of the Peter G. Peterson Foundation. The piece presented everything that Walker said at face value, making no effort to put his scare story in any context nor to verify his assertions.

  5. “….(Somehow this blog keeps returning to land claims in America’s westward expansion, leaving this author with the uncomfortable realization that he still does not definitively know how they worked.)….”

    from the “Priceonomics”-link..


    Note, ‘they’ do not allow for “Comments”..

    Given, the excerpt, above, it is little wonder why (they do not)..

    The Author of that Piece should, at least, Care about his-/hers/its-elf, enough, to quell the Quandry..

    Yet, no.

    It gets, much, worse from there..

    For, He/She/It leaves out a Great Lever in the Story..

    So, Simply, ____ Him/Her/It.

    “Priceonomics” seems to be trolling for ’6th Graders’ (Is that, really, what you’re pandering to, now? ever?)

  6. Widgetmaker says:

    Given all time highs (or close to) in earnings and valuation, it looks like the market is more or less fairly valued to me. Yet John Hussman, interviewed on Business Insider, seems to believe otherwise.

    “John Hussman thinks there’s a good chance the stock market will soon crash 40%-50%.”

    I’m confused.

    • Greg0658 says:

      my take (add-vice) = “crash soon” means babyboomers needing cash to finish off life with – will cash out – but the kids have’g little to spare will leave the corporation need’g cash from bond holders to refi the extractions – and some folks will pick up corporation stocks (w/the chance to manage them) on the cheap for the next go roundNround


      and widgetmaker (if thats what you do) I just Soundhounded a song (great App) .. is there any chance that a smell in “my head” – that I smell in the air could be captured with a smeller App and 3D printed (NO it would be a 4D generator) and exported out to another person to ask them if they smell it too – or maybe its only a smell in “my head” .. does that make sense (-: the smell sense) (and maybe a pile of cents for a widgetmaker)

  7. jaymaster says:

    That chart of earnings you included at the bottom is the best illustration yet for understanding why the Schiller PE is currently whacked.

  8. rd says:

    The Justice Department is getting serious about prosecuting financial crimes from the financial crisis!

    Oh damn, the statute of limitations has passed.

  9. S Brennan says:

    One more thing before I sleep:

    I good read for sensible people who want to live in a free society.