My afternoon train reading:

• Is It Sell Rosh, Buy Yom? Or Vice Versa? (Total Return) see also Who Cares About Syria? The Fed Is Buying Fewer Bonds! (Moneybeat)
• The Limits of Fundamental Analysis (Crossing Wall Street)
• Bank Leverage Is the Defining Debate of Our Time (Bloomberg) see also The Failure of Free-Market Finance (Project Syndicate)
• U.S. Importing Much Less Oil, but Still Spending a Lot on It (Real Time Economics)
• No Bounce for Europe in Rebound by Germany (NYT)
• Pimco sitcom: dreamer Gross vs. worrywart El-Erian (MarketWatch) see also Gross, Gundlach Hit by Outflows in August Amid Jitters Over Fed (Moneybeat)
• Business Losing Clout in a G.O.P. Moving Right (NYT)
• Thorny Side Effects in Silicon Valley Tactic to Keep Control (DealBook)
• Local shops fear Amazon’s expansion (CNNMoney) see also Introducing the All-New Kindle Paperwhite—The 6th Generation of Kindle (Amazon)
• What we don’t know about the $1.2 trillion student loan problem (Reuters)

What are you reading?


What Is a Hedge Fund, Anyway?
Source: WSJ

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.

9 Responses to “10 Midweek PM Reads”

  1. Bob A says:

    “…The Nokia deal solves the mapping issue. But make no mistake: Windows Phone is circling the drain—not inevitably, but certainly. And a drowning man grasps at whatever straw he can clutch.”

  2. RW says:

    Bad for people, bad for business, bad for the state budget, bad for future electoral success …now who on Earth would want that …oh, I see.

    Health Insurance “Coverage Gap” Coming to a Red State Near You

  3. willid3 says:

    401ks still a failure for the majority?>,0,3513350.story

    but they do work well for the top 20%. but the rest? not so much.

  4. Robert M says:

    Much of trading for a living is cognitive. A new potential tool to train your mind in avoiding distractions
    NPR picked up the story here is the podcast link:

  5. willid3 says:

    JPM in trouble again. this time its a criminal investigation though

  6. Chief Tomahawk says:

    “Insensitive as it might sound, the idea of the Fed cutting its monthly bond purchases to a likely $60 billion from $85 billion is scarier to investors than the massive loss of life, exodus of two million refugees and escalating world tensions that the Syrian crisis has generated.”

    Speaks for itself.

  7. Moss says:

    Not sure if this has been highlighted yet but most know S&P was seriously conflicted. It does not surprise me however that in this environment they would be claiming to be victims.–finance.html

  8. swag says:

    Hi, Barry. Any idea whether that swell WSJ graphic on hedge fund returns is net or gross of fees? I’m assuming gross of fees, which would mean, of course, that hedge funds suck even worse than the graphic shows.

    • “Hedge Fund Research Inc.’s HFRI Fund Weighted Composite Index, a broad proxy for the hedge-fund universe, gained 3.8% this year through August (net of fees), while the S&P 500 index gained 16.2% with dividends and the Barclays Government/Credit Bond Index shed 3.2% over the same period, according to HFR. For the five years through August, the HFRI Fund Weighted Composite Index gained an annualized 3.4% while the S&P 500 index gained 7.3% with dividends.”

      Stunk up the joint