My morning reading:

• 40 Years Later, Index Funds Remain The Best Wealth Management Choice For All Investors (Forbes)
• The root cause of the high-misery-index 1970s was demographics (Interfluidity)
• The Perils When Megabanks Lose Focus (NYT) see also Bogged-Down Banking Fight Leaves EU Vulnerable to Relapse (Bloomberg)
• U.S. Car Sales Soar to Pre-Slump Level (WSJ)
• Why mortgage rates are weird (Reuters) see also States divert foreclosure prevention money to demolitions (Marketplace)
• The death of private equity’s fee hogs (Fortune)
• Is China Past Its Manufacturing Prime? (Alliance Bernstein) see also Solar-cell manufacturing costs: innovation could level the field (MIT)
• Shameless Samsung (stratēchery)
• 3D printing scales up (Economist)
• BuzzFeed’s Next Year…. (LinkedIn)

What are you reading?


Even Greece is getting better

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.

25 Responses to “10 Friday AM Reads”

  1. AtlasRocked says:

    Greece is getting better? No disclaimer on how they’ve been caught lying to the auditors from Europe?

  2. Born Again says:

    I don’t see a lot of talk about Microsoft spinning-off its device unit (or some of it), post-Nokia. They could retain 50% ownership in such a spin-off to ensure a platform for their various operating systems. That, or they could start making Skype phones.

    • Who is going to provide the cellular carrier connectivity for the free internet based Skype phone?

      • Bob A says:

        Lot of people doing it now with $30/month unlimited (5gb high speed) data prepaid plan on T-mobile and various voip apps. Too complicated for most people to bother with it but I expect to see more of this type of plan in the near future.

      • judabomber says:

        Not complicated at all. I skype all the time on my T-Mobile S3.

        I travel to Asia quite a bit and use T-Mobile’s wireless internet to voip functionality quite a bit too, which enables me to call the U.S. at no extra cost expect minutes from my normal plan.

      • Is that with Wifi, or out in the field with no internet connection?

      • Bob A says:

        With a fast newer phone and hspa+ or lte it works just fine in the field. With a google voice number and grooveIP you have unlmited minutes/sms to any usa/canada number. You can also do it with a magicjack number on iphone or android

      • judabomber says:

        It is wifi only outside the U.S. … Inside the U.S. either one.

        With the ubiquity of wireless internet in some countries (in my case China and Thailand are where I frequently go), it is still pretty nice to have for no additional cost. Also why it is becoming less necessary for me to haul a laptop around, no matter how small/light it is.

  3. swag says:

    “That American high schools lavish more time and money on sports than on math is, I know, an old complaint. . . But, as another school year starts, it is a lament worth revisiting. This is not a matter of how any given student who play sports does in school, but of the culture and its priorities. This December, when the latest Programme for International Student Assessment, or PISA, results are announced, it’s safe to predict that American high-school students will once again display their limited skills in math and reading. They will once again be outscored not just by students in Poland but also by students in places like South Korea, Belgium, the Netherlands, Finland, Singapore, New Zealand, Canada, Switzerland, and Japan. (In the last round of PISA tests, administered in 2009, U.S. students ranked thirty-first in math and seventeenth in reading , among seventy-four countries.) Meanwhile, they will have played some very exciting football games, which will have been breathlessly written up in their hometown papers. (Ripley notes that at each Gettysburg High football game “no less than four local reporters showed up.”) ”

  4. willid3 says:

    strange press release?

    hm only one thing that does really make sense

    “Maybe everyone learned an invaluable lesson – ‘No instant fix for a distraught consumer!’

    and it really does. if the consumers (that 70% of GDP) are struggling because jobs are not really there, and one party seems bent on destroying the economy to embarrass the other party (why they think thats a good reason I am not really sure). and haven just recovered from an economic experiment that shows that their plan doesnt work, doesnt seem to get n their way to keep pushing it

  5. willid3 says:

    are libertarians and communists the same but different?

    maybe. i suppose if there ever was a real communist government (dont think we have ever had a real example of that, what we have had and still do, are really tyrannies dressed up to look like communist governments). but then a true libertarian ‘government’ wouldnt really exist. I have read the true views of many of them, and that would entail letting government be replaced by ‘insurance’ companies. not sure how that would really work. course they seem to also require that we humans change so that violence doesnt exist amongst us. not really sure how thats ever going to work out. but I suppose they should each go and take over some country (like Somalia maybe? its has no functioning government so seems to be an ideal spot for each to start with. sure there are others). and we can see how each ‘pure’ vision works out.

    what also seems odd is that some who were in power just a few years ago now protest that they are being ignored. and trampled. while they were doing the same to others a few years ago. and some of the laws the wrote and implemented are supposedly not being executed like they expected them to be (though i bet they were being used the same way now as back after they were first approved).

    • ilsm says:

      I am not sure how an insurance underwriter would justify pre-emptive wars, wars of choice and occupying third world as forward defense against states that have no GDP

      If the owners of the WTC had an option to buy “war” insurance with a terrist rider, the towers could still be there.

      An insurer would have done some underwriting, looked at “perils, and hazards”, and may have taken a study about passenger jet planes as terrorist weapons of ass destruction seriously (unlike the DoD).

      In the case of protecting their insured against chemical weapons, an insurer would not care what Assad is doing if the insured were in Manhattan.

      Otherwise, I would rather the $6000 spent for me, for the inept state monopoly known as the military industry congress complex, be given to me, I would then decide to buy insurance, or spend at a bake sale for Lockheed to get some F-35′s, more guns, ammunition and sharpening stones for my K-bar……………………

  6. Bob A says:

    There was the expected stampede, complete with multiple offers bidding up prices.
    And now prices have met resistance.

  7. VennData says:

    “The press will try to portray this Syria debate as a battle between wings of the Republican Party,” she said. “Don’t believe them.”

    Believe the Cheney’s, not the for-profit media.

    While Boehner can’t round up the votes to “Hastert Rule” his rational, calm, scientifically minded GOP coalition. Liz, how do you explain this count? A count, Liz. Simple numbers.

    You GOP supporters are laughable.
    “…Whip count has 217 of 233 voting House members on record opposing or likely opposing military force in Syria, which would mean defeat…”

    • ilsm says:

      The ruinous US state monopoly on perpetual small wars and eternal occupations is not what “small government” types want.

      While some on the progressive side they come at it as wasteful perpetual war profiteering.

      Obama is chief war monger (discovered might makes right) for imposing a treaty, which the US stands out of compliance, on a non signatory, because using chemical weapons in a civil war is worse than cluster munitions, land mines, drones, stealth delivery, etc, which give the US shock and awe with no concern for the collateral damage.

      The sponsors are not “small government” when it comes to war profits.

      • VennData says:

        Far from ruinous, essential to police dictators and killers.

        Is the US at war with Al Qaeda? yes.

        Did Obama declare he would use drones in Pakistan during both of his elections? yes

        What you call “small government” types maybe be against enforcing internationally-agreed upon norms as chemical weapons are (not surprised that a Fox News watcher is not up on the facts) we are the government run by the people,

        Some group benefits from every government expenditure. To hope that you can make that mean all attacks on Assad and his ilk are bad doesn’t, on average, make the cut with the people who vote around the world.

        Now, if Cheney hadn’t of lied about WMD, would Obama be in such a tight fight to punish the violator of treaties? Probably not, but that’s not the way “small government” types think, do they, They elect guys like Cheney, don’t they?

      • ilsm says:

        Send link to US congress’ declaration of war on al Qaeda.

        Is this fictional state of war because Al Qaeda, who would benefit from the US harming Syria’s government, is “the violator of treaties” like the Syrian government?

        Is each drone strike on Al Qaeda anywhere in the world a divisible act under war power act?

        I believe handling “the violator of treaties” is what the UN Security Council does.

        What Bush Cheney said in 2002-3 is less relevant than the results of more than 10 years pointless spending of borrowed money, killing and dying because the US thinks “might makes right”, and there are no prosecutors of “the violator of treaties” when it is the US hegemon doing the violation.

        “Small government types” are inconsistent on many levels, possibly from the false flags raging in their blovosphere.

  8. bear_in_mind says:

    Hi Barry,

    I stumbled across a nagging question that I couldn’t think of anyone better suited to answer regarding HFT. Namely, if HFT is generating so much traffic, why is the SPX trading volume approximately half of what it was 24-30 months ago? Is it that they merely push bids up and down and actually execute a tiny fraction as trades? Or, they are applying their buying and selling to a small, discrete number of equities on any given day, so measuring SPX volume would fail to capture their activity? Or something else entirely?

    As always, thanks for your incredibly informative work and huzzah!!!

  9. willid3 says:

    only from a 1% point of view does this make sense

    allow those who are convicted of non violent crimes to pay to get out? and the news that Texas has been doing this is news to me, and I have lived here for the 18 or so years now.
    I suppose it could have happened and our fearless leaders have suppressed the knowledge of it.

  10. willid3 says:

    GOP / libertarian health care plan. we already tried this once. and it was a complete failure.

  11. Ivana Puke says:

    I’m reading your blog of course . What a silly question. But I also read
    You might have to jump through a few hoops to get to it.