My afternoon train reading:

• The Dow Through the Years (Moneybeat)
• ‘Money For Nothing’: The New Fed Documentary Is Absolutely Fascinating (Business Insider)
• Financial Secrets Revealed! (Just Don’t Ask Where They Came From) (Medium)
• Richard Posner Explains SEC Refusal to Act in Lehman Brothers Case (Firedoglake)
• Government banks $15 billion on Citigroup bailout (Fortune) but see Banks Seen at Risk Five Years After Lehman Collapse (Bloomberg)
• The biggest unanswered question about retiring in America (Reuters)
• Trying to Outguess the Unpredictable (NYT)
• British austerity was even worse than you thought (Wonkblog)
• The Science of Snobbery (Priceonomics)
• What Is Flat Design? (Gizmodo) see also Apple Unveils New iPhones at Cheaper Price (Bloomberg)

What are you reading?

 
30-yr Treasury Yield & the DJIA
Chart
Source: StockTwits

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.

16 Responses to “10 Tuesday PM Reads”

  1. rd says:

    The main lesson I get from the DJIA-30-Tbond graph is that the first have of either a secular bull or secular bear market for bonds is very good for stocks while the second half is not.

    Is that why we are seeing the stock market rising recently as bond yields have risen?

  2. rd says:

    “The biggest unanswered question” article is one of the best possible reasons for making IRA, 401k, 403b, and annuity providers work under a fiduciary standard. The financial industry has been woefully inadequate in providing good answers to this question.

    Even the 4% rule that many big companies refer to was developed by a financial planner working on his own. He was just trying to figure out how to make sure his clients wouldn’t run out of money and needed to be able to provide some guidance.http://en.wikipedia.org/wiki/William_Bengen Some variation of this based on CAPE (or other similar valuation measures) and interest rates at the time of retirement will probably be an executable approach for most people. My starting point for thinking about this is portfolio dividends and interest plus about 1% of principal each year.

    Another financial planner and a couple of professors just came up with some similar guidance on optimum strategies for incorporating annuities into your lifetime income plan: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2317857

    It is shameful that the huge financial industry just wants to grab their fees from our money but provide little real value for those fees. Instead they are relying on sole practitioners to generate useful approaches.

  3. VennData says:

    Top 1% take biggest income slice on record

    ​How can it be? Obama raised their taxes and they still have more? Maybe that one large-font email I got that said Obama’s tax cuts would ruin the job creators was a bit off (but I know that’s impossible!)​

    http://www.usatoday.com/story/money/business/2013/09/10/pay-gap-richest-poorest/2793343/

    ​Serve your masters, boys.​

    • VennData says:

      Interesting how all those right wingers who said the top 1% wouldn’t want to make any more money were wrong.

      I wonder if they will apologize to you?

  4. VennData says:

    Ndamukong Suh fined $100K for hit

    http://espn.go.com/nfl/story/_/id/9658836/ndamukong-suh-detroit-lions-fined-100k-block

    When do they boot this thug out of the league so he can declare his bankruptcy along with the other 78% of them?

    http://www.gobankingrates.com/debt/dan-marino-vince-young-broke-nfl-players-lost-fortunes/

  5. willid3 says:

    where are they now. the CEO”S that lead us into the greatest debacle since the great depression
    http://www.publicintegrity.org/2013/09/10/13326/ex-wall-street-chieftains-living-large-post-meltdown-world

  6. willid3 says:

    hm…does business media even check what they are told? or do they just publish it, and worry if its right or wrong later?
    https://medium.com/by-the-numbers/74daf068930

  7. Stock Soup says:

    I guess that was a little cryptic.

    I meant to offer it as interesting reading for those who pick stocks, as well as a “think tank” item (macro input that helps consumers, their retailers as well as domestic industrials.)

  8. RW says:

    Obama-care and part time employment –Part 2

    Time after time I’m seeing people observe the jump in part time workers and just jumping to the conclusion that it is Obama-care. That is what they want to believe, so they do not bother to check if their is another explanation. …All it takes to get the data showing that the jump in part time employment is all federal employes is just one simple phone call or email to the BLS.

  9. Robert M says:

    Keeping an eye on the faux follow up by the Obama administration in regard to financial industry the problems remain…http://www.theatlantic.com/business/archive/2013/09/5-years-later-weve-learned-nothing-from-the-financial-crisis/279506/

  10. drumdance says:

    Someone should do that wine study with stock market charts. How much better (if at all) can an expert predict what a stock or index will do in the next 3 months?

  11. Francois says:

    What have we learned from the financial crisis?
    We’ve certainly learned that:

    1) senator Durbin was right when he said of Wall Street that “they own the place” (the place being Congress)

    2) It’ll take much more fraud, rip-off and spoliation to see Americans take on the political and financial elites. Eyal Press was right about the extreme social conformism of the Americans.

    3) it is imperative to get ready for a redo of 2008, only worse this time.