My afternoon train reading:

• A Field Guide to Stock Market Corrections (The Reformed Broker)
Emerging Markets: A Contrarian Special? (Businessweek) but see Investors in emerging markets would like their money back now thanks (Quartz)
• Leveraged ETFs, the Flash Crash, and 1987 (Moneybeat)
• The Great Rotation: Asset Shortages and the Aggregate U.S. Asset Portfolio (Philosophical Economics) see also What Great Rotation? (MarketWatch)
• Rate Surge With Rising U.S. Confidence a Positive Sign (Bloomberg)
• Why the White House is uneasy with picking Janet Yellen as Fed chair (Wonkblog) see also Fed provokes run for the hills … in China and India (CNNMoney)
• The Get Rich Quick Internet Scheme That Works (priceonomics)
• Rats at Bank of America (MarketWatch) see also The Real Risk at JPMorgan Isn’t Its Legal Mess (Fiscal Times)
• How big is Wikipedia, anyway? (Gigaom)
• NJ Gov Christie Says Gayness Inborn as He Signs Therapy Measure (Bloomberg) see also Gay Marriage Shows States Luring Discriminated Couples (Bloomberg)

What are you reading?

 

Bond Bear Markets
Chart
Source: Bespoke

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.

8 Responses to “10 Tuesday PM Reads”

  1. VennData says:

    Why Kyle Bass Is Joining J.C. Penney Turnaround Bet

    ​http://www.bloomberg.com/video/bass-joins-crowded-j-c-penney-turnaround-trade-WrADfYCoTGSNZwxc1p0HSQ.html

    ​He’s outta there after the Ackman squeeze​. Oh, and after cleaning out the nickles in the registers…

    Kyle Bass’s Nickel Collection

    http://www.cnbc.com/id/44788851

    “May I have ten thousand marbles please?”

    http://www.youtube.com/watch?v=MwlRiq-bIms

    P.S. I hope you haven’t been with Mr. Bass during the horrors of the Obama years. But wait, Zero Hedgehog also Chimes in confusing the cost with the value of the currency.

    http://www.zerohedge.com/news/2013-02-20/kyle-bass-trade-and-how-penny-cost-taxpayers-436mm

    Dear Zero Hedgehog,

    When you’re the trailer-park GOP genuflectors stop fighting the dishonor of not being able to have “In God We Trust” on the digital currency, we won’t need to spend any money on it.

    Digital currency now!

  2. VennData says:

    Pricenomics ends their polemic “The Get Rich Quick Internet Scheme That Works” saying, “…Priceonomics is not very sophisticated in our knowledge of domain names…”

    But we just feel that our ideas are real and everybody is making so much money swapping domains we should discuss our plan. ROFL.

  3. VennData says:

    Baseball player killed because kids ‘were bored’

    http://espn.go.com/college-sports/story/_/id/9583091/baseball-player-killed-kids-were-bored

    Oklahoma better stop worrying about people passing sharia law there…

    http://www.huffingtonpost.com/2013/08/17/oklahoma-anti-sharia-law_n_3770021.html

    …and start worrying about cleaning up their nutty mess of a state.

  4. RW says:

    Virtually all the proposed ‘tax reform’ proposals from Bowles/Simpson to the White House’s (and most recently Ken Cuccinelli, candidate for VA governor) risk increasing deficit and inequality both.*

    The Tax Reform Trap

    …TAX REFORM THAT LOWERS RATES WITHOUT FIRST LOCKING IN HIGHER REVENUES WILL VERY LIKELY FAIL TO RAISE THOSE REVENUES. The sequencing of tax reform therefore must be:

    1) chose a revenue target, one that reliably reduces the deficit once the economy is back on track;
    2) figure out the rates and base needed to hit that target;
    3) ensure that a) a majority of policy makers accept the base broadeners and b) the changes do not make the code less progressive;
    4) only then, once progressive base-broadeners and a deficit-reducing revenue target are locked in, should lower rates be considered. If the lower rates violate any of the prior conditions, they must be rejected.

    * An increase in both deficit and inequality may be a feature rather than a bug in a number of these proposals.

  5. osheth says:

    3 things from the past two days that stick out:

    The Art of Ordinary Conversation — http://www.farnamstreetblog.com/2013/08/the-art-of-ordinary-conversation/

    66 Personal Development Habits For Smart People — http://www.farnamstreetblog.com/2013/08/66-personal-development-habits-for-smart-people/

    What Children’s Minds Teach Us about the Evolution of the Imagination — http://www.brainpickings.org/index.php/2013/08/19/james-geary-i-is-an-other-children-metaphor/

  6. Bob A says:

    A financial analyst for a Georgia state regulator said in written testimony that, if given the opportunity to start from the beginning, the new nuclear reactors at Plant Vogtle would not be worth building, the Associated Press reports.
    http://www.power-eng.com/articles/2013/08/analyst-would-scrap-vogtle-if-they-could-do-it-over.html

  7. GoBigRed says:

    I just finished reading The Ordeal of Thomas Hutchinson by Bernard Bailyn and States of Credit: Size, Power, and the Development of European Politics by David Stasavage and am now reading Improbable Scholars: The Rebirth of a Great American School System and a Strategy for America’s Schools by David L Kirp.

  8. VennData says:

    House chairman rejects ‘special’ citizenship path

    “…The chairman of the House Judiciary Committee on Monday rejected the idea of giving immigrants in the U.S. illegally a special pathway to citizenship, and said the House must chart its own course on immigration even if it never results in a bill President Barack Obama can sign….”

    http://www.boston.com/news/nation/2013/08/19/house-chairman-rejects-special-citizenship-path/qcUvT3EwsPsICcVhWQdEaL/story.html

    So let’s see… they want to do a bunch of “work” that will not have any chance of passing. So what sort of “work” will they be doing? Sounds like puffery to appeal to the gerrymandered districts fringe to me.​​

    The GOP is the do nothing party. And yet you believe all those nonsensical emails your dad sends you.