My afternoon train reading:
• Wall Street’s leading bear David Rosenberg turned more bullish, riling some longtime clients (WSJ)
• The Inefficient Market Hypothesis (NY Times) see also The kinda-eventually-sorta-mostly-almost Efficient Market Theory (TBP)
• Jack Bogle on the Cost Matters Hypothesis (CMH) (The Reformed Broker)
• Forget fundamentals, Fed liquidity is king (FT) but see Fed QE Taper Seen Delayed to March as Shutdown Bites (Bloomberg)
• Beware Distorted [Mutual/Hedge Funds] Returns (Barron’s)
• What is Happening with China Home Prices? (World Property Channel) see also Stop Being Wrong About China Buying Our Bonds (Slate)
• Magnetar Goes Long Ohio Town While Shorting Its Tax Base (Bloomberg) see also Why Does The World’s Richest Country Have So Many Failed Cities? (Forbes)
• Are Bear Stearns and WaMu Still Steals for J.P. Morgan? (WSJ)
• Republican Civil War Erupts: Business Groups v. Tea Party (Bloomberg) see also Can we afford citizen-funded elections yet? (Lessig)
• It’s Time for Amazon to Open Its Black Box (Barron’s)
Whats for dinner?
The Couch Potato Subsidy
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