My morning reading:

Grantham: Buy Wood. (Reformed Broker) but see Why guru ETFs beat human gurus (Felix Salmon)
• S&P 500 Celebrates One-Year Above 200-Day Moving Average (MoneyBeat)
• Stock Market Trading: The 20 Rules of Engagement (Minyanville) see also Four Costly Ideas that Hurt Investors (A Dash of Insight)
• Big Thinkers With Quick Answers on the Year Ahead (Businessweek)
• Fed Looks for Other Ways to Aid Economy (NY Times) see also As Fed Searches for Solutions, Its Power Wanes (WSJ)
Twitter: Find Your Favorite Analyst by Following Fowl? (Institutional Investor)
• Too Sure By Half (Above the Market) see also Anxiety Over Asset Bubbles From Homes to Internet Rising in Poll (Bloomberg)
• What Can We Do About the Fact That We’re All a Little Bit Prejudiced? (Pacific Standard)
• Obamacare is Obama’s Obamacare. (Not his Katrina.) (Washington Post) see also This chart is amazing news for our health cost problem (Washington Post)
Hilarious! Stupid Things Equity Research People Say (Tumblr)

What are you reading?

Five Things We Learned on Big Data Wednesday

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 Thursday AM Reads”

  1. rd says:

    An excellent article lambasting jargon for 401ks, 403bs, and IRAs:

    I know that I have had to sit down with my kids to go through their 401k packages when they first get employed so that they can begin to comprehend what the plans are and what would be reasonable investing choices. The packages themselves are almost worthless for neophytes. There is glossy advertising promising them the moon but which doesn’t work on them because they have such a cynical, jaundiced eye towards advertizing as they have been bombarded with it since childbirth. When they look for the real meat of what they need to do, not even Webster’s helps since the words (as the author points out) generally have different meanings than their common usage. I find I have to walk them through a practical life-cycle to get them to realize that they really need to start saving today for an event that is 40 years away ad then walk them trhorugh the importance of diversification and low expenses. For some odd reason, the packages never seem to point out that low expenses usually mean higher lifetime returns, all else being equal.

  2. rd says:

    Re: Big data

    I have always been baffled why consumer confidence is reported with breathless anticipation. As far as I have been able to figure out, consumer confidence readings are not correlated with actual spending in any systematic way with statistical significance.

  3. mpetrosian says:

    I’m pretty sure there is demand for timber outside the paper industry. Construction and a plethora of other commercial uses like furniture and cabinet making come to mind.

  4. Anonymous Jones says:

    “Stupid Things Equity Research People Say” was awesome!

  5. hue says:

    Blame Rich, Overeducated Elites as Our Society Frays (Bloomberg View)

    Facebook Drives Massive New Surge Of Traffic To Websites (Buzzfeed)

    Eroding Trust In Government: Confidence Crumbles(The Economist) Does Anyone Still Work at The New York Times? (Reuters)

  6. RW says:

    The case that growing wage inequality, like growing under/unemployment, was primarily related to lack of skills was never strong and there was always a fair amount of evidence against it as this working paper demonstrates but it did seem to satisfy a certain set of elite prejudices and thus it become a ‘fact’ that everybody who was anybody knew.

    Don’t Blame the Robots

    Assessing the Job Polarization Explanation of Growing Wage Inequality

    Principal findings include:
    1. Technological and skill deficiency explanations of wage inequality have failed to explain key wage patterns over the last three decades, including the 2000s.
    2. History shows that middle-wage occupations have shrunk and higher-wage occupations have expanded since the 1950s. This has not driven any changed pattern of wage trends.
    3. Evidence for job polarization is weak.
    4. There was no occupational job polarization in the 2000s.
    5. Occupational employment trends do not drive wage patterns or wage inequality.
    6. Occupations have become less, not more, important determinants of wage patterns.
    7. An expanded demand for low-wage service occupations is not a key driver of wage trends.
    8. Occupational employment trends provide only limited insights into the main dynamics of the labor market, particularly wage trends.

  7. RW says:

    How the $1.1 million Youabian Puma won the Los Angeles Auto Show

    Custom-built luxury cars often turn out awful, and a professional vehicle designer who suggested a car like this would be given a drug test and told not to operate machinery, but the Puma galumphs through the valley of ugly to fascinating.

  8. VennData says:

    Reid Triggers Constitutional Crisis to Fill the Courts with Let ‘em Loose Larry’s!!!

    Obama’s Alien invasion has begun!!! Buy your Ammo! Nancy Pelosi’s about to force you to have an alternative lifestyle! Buy Gold! Move to a Far Right Paradise! Impeach! Shoot Somebody!!!