Some reads to accompany your coffee this Sunday morning:

• October Jobs Report Is Bad News for American Economic Declinists (Daily Beast)
• The Error-Proof Portfolio: Do These Popular Investments Add Diversification? (Morningstar) see also Tax-loss harvesting using ETFs (Fidelity)
• Big Finance’s hyper-focus on frequency creates a blindspot on magnitude (The Week)
• A Hilarious Conversation Between AG Eric Holder & CEO Jamie Dimon (NewYorker)
• An exclusive interview with Bill Gates ( see also Bill Gates: What I Learned in the Fight Against Polio (WSJ)
• Ted Cruz Unilateralism a Prelude as Party Loyalty Falters (Bloomberg)
• Why Infographics Are Terrible (Slate) see also Here’s How Memes Went Viral — In the 1800s (Wired)
• The Exciting World of Insurance (Priceonomics)
• How to Choose a Charity Wisely (NYT)
• An Ex-Cop’s Guide to Not Getting Arrested (Atlantic Cities)

Whats up for brunch?


DXJ is the Poster Child for Why Firms Don’t Close ETFs

Source: Research Puzzle Pix

Category: Financial Press

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13 Responses to “10 Sunday Reads”

  1. hue says:

    That Goddamned Blue Bird and Me: How Twitter Hijacked My Mind (NY Mag)

    The DYI Cyborg (Motherboard) this is cringe worthy

    Birth, School, Work, Death: Real Time World Statistics (worldometers) (The Godfathers)

  2. BennyProfane says:

    Thanks for the laughs this morning. The Dimon/Holder thing is funny.

  3. RW says:

    Meant to post this Saturday

    Medium term exchange rates and current accounts

    …as anyone who understands uncovered interest parity knows, exchange rates in the short run depend crucially on expectations about medium term exchange rates, so the determination of medium term exchange rates is important whatever your time horizon.

  4. Bob is still unemployed   says:

    While I’m staring down a bowl of oatmeal, this time with cinnamon and maple syrup added, I’ve been reading a couple of articles about tracking people.

    Google Takes Its Tracking Into The Real World ( – “…Google is beta-testing a program that uses smartphone location data to determine when consumers visit stores, according to agency executives briefed on the program by Google employees. Google then connects these store visits to Google searches conducted on smartphones in an attempt to prove that its mobile ads do, in fact, work….”

    You Are a Rogue Device – “…If you’re walking around downtown Seattle, look up: You’ll see off-white boxes, each one about a foot tall with vertical antennae, attached to utility poles. If you’re walking around downtown while looking at a smartphone, you will probably see at least one—and more likely two or three—Wi-Fi networks named after intersections: “4th&Seneca,” “4th&Union,” “4th&University,” and so on. …The question is: How well can this mesh network see you? …The [Seattle Police Department] declined to answer more than a dozen questions from The Stranger, including whether the network is operational, who has access to its data, what it might be used for, and whether the SPD has used it (or intends to use it) to geo-locate people’s devices…”

  5. And it hadn’t been before on all those other budget-busting programs stretching back decades?

    “Reality is sinking in. It was startling, for instance, to see that the Air Force told The Wall Street Journal that it is now determined to build a new long-range bomber, a replacement for the storied B-52s and B-1s, on a ‘budget.’”

    Reality Sets In (NYTimes)

  6. Jojo says:

    Another article that overlooks the impact that increasing automation and robotics will have on future job prospects and economic activity.
    Retiring Boomers Will Hurt Consumer Spending, Economic Growth
    By Steve Matthews November 07, 2013

    Retired Ford Motor (F) worker Tony Fransetta scrimps on every expense now that he earns about one-third of his final pay since leaving the auto company in 1990. “There is no magic bullet,” says Fransetta, 77, who lives in Wellington, Fla., near West Palm Beach. “I have cut vacations and travel. You have to manage your food very closely. You don’t go out and buy expensive cuts of beef. You have to catch things on sale.”

    As millions of baby boomers join Fransetta in retirement, income growth will provide less oomph for the economy in the next 20 years. The labor force that remains will include a growing share of workers with less earning power.

    Together, the trends will act as a brake on consumer spending, which makes up 70 percent of the gross domestic product of the U.S. “If we don’t change, we are grinding to a halt,” says James Paulsen, the Minneapolis-based chief investment strategist at Wells Capital Management. “The capability of the economy, its potential to grow, is far less.”


    • WKWV says:

      Eventually, we boomers will die and leave some small change to our gen x and millennial kids, Despite what the futurists promote, we will all die someday. The kids won’t have to support us forever.
      By the way, a 77 year old is not a boomer.

  7. Jojo says:

    Discover magazine
    Gargantuan Explosion Rips Open a Canyon of Fire on the Sun
    By Tom Yulsman | November 8, 2013

    A filament of plasma 25 times bigger than the Earth exploded from the sun recently, leaving behind this temporary burning gash in the solar corona. (Image: NASA/Solar Dynamics Observatory)

    The sun really has been acting up lately. In October, solar activity jumped to its highest level in two years, with a large uptick in the number of sunspots and a concomitant rise in flares and giant eruptions of plasma from the sun’s surface.

    The image above shows the immediate aftermath of one such eruption. Captured by the Solar Dynamics Observatory satellite, or SDO, it shows what NASA describes as a “canyon of fire” left behind after a 200,000 mile long filament exploded outward through the sun’s atmosphere, called the corona.

  8. Jojo says:

    Discover magazine
    Extreme Chemical Sensitivity Makes Sufferers Allergic to Life

    Its sufferers were once dismissed as hypochondriacs, but there’s growing biological evidence to explain toxicant-induced loss of tolerance (TILT).
    By Jill Neimark|Wednesday, October 02, 2013

    One night in August 2005, Scott Killingsworth, a 35-year-old software designer in Atlanta, dragged his dining-room table out to the porch and lay down on it. The house he’d just rented — on 2 acres in an upscale suburb north of the city — was meant to be relatively free of man-made chemicals, his refuge from the world. For years he had been experiencing debilitating reactions to a cornucopia of common chemicals that others don’t even notice.

    But this house, like the one before it, was making him sick with flulike symptoms — nausea, headaches and muscle stiffness.

    Lying on the table and breathing in fresh air, Killingsworth thought back to the morning seven years ago when his office was sprayed with Dursban, a potent organophosphate pesticide that has been banned for indoor use since 2000. Within minutes of the pesticide treatment, he was unable to concentrate, and he felt like he had a bad flu. When he returned to the office a week later, he felt sick again. He asked his supervisor to move him to a different office.

    “I thought that was the end of it,” he recalls. “But that was the beginning of it.”

  9. 4whatitsworth says:

    The Surveillance State Puts U.S. Elections at Risk of Manipulation

    The NSA or anyone that has access to their systems can type in an email or a phone number and get a get all of the data that was transmitted over TCP/IP then turn it back into voice and text. There are probably 100′s of folks that could see this data without going through a trackable access point. With all the money in politics what are the chances that this was not and will not be misused?

  10. rd says:

    We see the term “hero” bandied around in the media a lot these days. Here is one its real definitions:

  11. S Brennan says:

    In reprise to: [October Jobs Report Is Bad News for American Economic Declinists (Daily Beast)]

    There are some labor participation chart in the article below, plus a link that debunks the usual excuses offered up. Just because things are getting better on “average” that doesn’t mean things are better for the bottom 4 quintiles.

    “The labor participation rate plunged -0.4 percentage points to 62.8%. This is the lowest labor participation rate since March 1978.”

  12. farmera1 says:

    Labor is loosing out to capital

    -Computers, robots automation
    -Cheap foreign labor and globalization

    “The “labour share” of national income has been falling across much of the world since the 1980s (see chart). The Organisation for Economic Co-operation and Development (OECD), a club of mostly rich countries, reckons that labour captured just 62% of all income in the 2000s, down from over 66% in the early 1990s. That sort of decline is not supposed to happen. For decades economists treated the shares of income flowing to labour and capital as fixed (apart from short-run wiggles due to business cycles).

    A falling labour share implies that productivity gains no longer translate into broad rises in pay. Instead, an ever larger share of the benefits of growth accrues to owners of capital. Even among wage-earners the rich have done vastly better than the rest: the share of income earned by the top 1% of workers has increased since the 1990s even as the overall labour share has fallen. In America the decline from the early 1990s to the mid-2000s is roughly twice as large, at about 4.5 percentage points, if the top 1% are excluded.”

    So where does this end. I could see a few possibilities:
    -The one percenters control and own everything. The 99%ers are dumb, hungry and happy
    -The 99%ers figure out they are being screwed and there is social unrest
    -The one percenters figure out this isn’t a sustainable trend and see the light. The willingly change the laws to give the 99%ers at least a chance