My belated mid-morning reading:

• How to Play the September Effect (WSJ)
• Forget gold. Classic cars are the new hot investment. (Wonkblog) see also Ferraris, Bentleys soar in value as gold price sinks (Reuters)
• Why Have Markets Learned Nothing in the Last 50 Years? (Bloomberg View)
• 5 similarities between real estate and investing (Financial Post)
• Low pay and the rise of the machines (Tim Harford) see also Why Labor’s Share of Income Is Falling (Economix)
• The Economy and the Stock Market Aren’t the Same (Crossing Wall Street)
• Life on Wall Street Grows Less Risky (WSJ)
• These Three Democrats Could Torpedo Larry Summers’s Nomination (New Republic)
• Thinking About iPhone Pricing (stratēchery)
• How Green Is a Tesla, Really? (Slate)

What are you reading?


Nasdaq 100 Breaks Out
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.

15 Responses to “10 Tuesday AM Reads”

  1. Low Budget Dave says:

    It is not unusual for a President to appoint someone to a high post just because he feels personally indebted. Just because it is common does not make it right.

    When Dubya selected financial “deregulators” for positions of power, most real economists railed against the choices. If we allow Larry Summers to pass without comment, then we are saying that our political party matters more than the truth.

    Putting Larry Summers at the Fed is like putting Enron in charge of energy policy. (Think the analogy is unfair? Jut Google; “Larry Summers and Ken Lay”. If you can read the articles without feeling queasy, you might be qualified for a Presidential appointment.)

  2. Francisco Bandres de Abarca says:
    “Because Goldman Sachs, Morgan Stanley and other major banks aren’t required to post collateral for all derivatives trades, almost 20 percent of over-the-counter deals involving large firms lack margin agreements, according to the International Swaps & Derivatives Association. ”

    And a story pertaining to margin debt:

    . . . and a little something from Santayana.

  3. RW says:

    Andrew Ross Sorkin’s Limited Imagination

    Andrew Ross Sorkin shows his range of thought goes from one 40 yard line to the other when he contemplates a world where the government decided to rescue Lehman rather than allow it to fail. He considers various bailout scenarios, all of which leave the welfare dependents on Wall Street intact.

    There was an alternative. …

    Two roads diverged in a yellow wood, …

  4. VennData says:

    The WSJ editors drop HP, Alcoa and B of A.

    You gotta love the editors of the Wall Street Journal and their anachronistic conceit that the DJI average has any meaning to anyone except the retail shmucks that fall for their sophistry that Obama has somehow ruined America and we need to return to the policies of the Bush years.

    If you pay attention to the Dow Jones Industrial Average at all and the editors of the Wall Street Journal at all you deserve everything you get. Oh and sorry about your investment returns over the last five years., but people have warned you.

    And you people want to home school your kids?! LOL a one-way ticket to the permanent underclass moping the floors of the server farms where the reviled liberals invested in new technologies. Enjoy your lineage, kids.

  5. rd says:

    Some interesting videos here on health care improvements in Canada:

    Notice that insurance is never mentioned once as these providers are working in single-payer systems with universal coverage. Also notice that they are using continuous improvement methods using full population databases so they aren’t putting in reqests for lots more funding – instead they are simply reworking systems to make them more efficient and streamlined.

    Many of the patients they are talking about are the urban and rural poor and the elderly who get treated pretty much the same as middle-class and upper-class people. Many of these patients would be uninsured in the US or would not be taken on as patients by many doctors who don’t want to deal with Medicare or Medicaid.

    The government is figuring out how to make the system more efficient by giving the local providers more autonomy on how they organize their services for their particular operation and clientele. The remoteness of some of these operations is staggering from an American or European perspective. A doctor interviewed in the Thompson, Manitoba one indicates that he is often working 800 km (500 mi) away from the clinic being discussed but the use of new telecommunication technologies is still allowing him to participate in decisions with the nurses. The Thompson clinic has a clientele that is about 12,000 locally but probably serves about 60,000 total including the dispersed rural people in a radius of several hundred miles around it.

    One of my parents recently had a joint replacement in Canada. The entire process went very smoothly over a period of a few months. The time leading up to the surgery involved physical therapy to strengthen the body in preparation for the changes that would come with surgery and the functionality of the joint came back very quickly after surgery in a system structure similar to what is discussed for St. Johns, Nfld.

  6. VennData says:

    Be Afraid of Big Marijuana

    “…David Frum a special assistant to President George W. Bush from 2001 to 2002…”

    Oh no, we might create an oligopoly of large tax-paying corporations. Americans would never stand for that! It just isn’t us.

  7. RW says:

    Sequester Watch, #21

    The reports of the problems generated by the mindless budget cuts otherwise known as sequestration keep coming, with a number of stories on DC itself–talk about your self-inflicted wounds.

    Also, add elephants to the list of non-humans hurt by the cuts (see below): …

    Those who forget sequestration are doomed to repeat it.

  8. RW says:

    The real world once again rudely contradicts right-wing myth production.

    The Increase in Part-Time Employment: John Lott Versus Sane Individuals

    This Lott claim that 96% of the new jobs added this year were part time drew a lot of fire …
    New data out today in the Bureau of Labor Statistics Monthly Employment Report show that of the increase in employment since the Affordable Care Act became law, more than 9 out of 10 positions have been full-time.

    NB: These past five years are providing enough data to keep agnotologists and related scholarly disciplines busy for many productive decades I’m sure.

  9. willid3 says:

    i have seen that story on Tesla (and basically any electric cars) and wondered about how green they are. but then we look at how electricity is generated and think maybe not. but then they forget how much electricity does it take to run that refinery? or the pumps that get the oil out of the ground. or trucks that transport the refined products? then again how do we separate them from how much pollution we get power plants, refineries, mines, nuclear power plants, pipelines from gas/oil powered vehicles and electric ones? even if all vehicles were electric, we would still have oil and refineries. then of course you would also have to count in things like vehicles that aren’t being maintained. and older vehicles that just aren’t as clean too. none of which is usually used to ‘make’ the claim that electrics are just as bad or worse. or even show just how much gas/oil vehicles actually do cost us. and nobody really considered just how bad it was when we rode horses. back in the day, you could dead horses on the streets on almost any city.

  10. VennData says:

    Move your business to Texas, the best state for business in America…

    …unless your business was founded after 1937.

    Rick Perry ain’t going anywhere with this blotch on his record. Find another right-wing nut you guys,