My Friday morning reads:

• 2014 a Big Year for Hedge-Fund Launches (WSJ)
• The WhatsApp coverage (CJR) see also Facebook buys Whatsapp for $19 billion: Value and Pricing Perspectives (Aswath Damodaran)
• Having Control Over Your Time Is the Only Sensible Financial Goal (Morgan Housel)
• A Dispassionate Analysis of the Employment Situation (CFA Institute)
• What American Companies Get Wrong When Paying Dividends (Motley Fool) see also Stocks are far less risky than you think (MarketWatch)
• Faber’s Ivy Portfolio: As Simple as Possible, But No Simpler (GestaltU)
• Buffett’s Business Wire ends feeds to high-speed traders (
• Why The Office Is The Worst Place For Work (FastCo)
• Kansas RIP 1861-2013 (Hutch News)
• Thank You, Rolling Stone (Matt Taibbi)

What are you doing this weekend?


Earnings Still Killing It

Source: Bespoke Investment Group


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.

7 Responses to “10 Friday Reads”

  1. Conan says:

    Income inequality: Among US cities, bigger ones are more unequal

    Some of America’s biggest and most economically vibrant cities, including Boston and New York, are also the most unequal, according to a new report on income inequality from the Brookings Institution.

    From 2007 to 2012, just 18 cities among the 50 biggest ones had statistically significant increases in their inequality ratios, according to the report.

    Atlanta, San Francisco, Miami, Boston, Washington, and New York are the most US unequal cities, the report found. The least unequal cities are: Virginia Beach, Va.; Arlington, Texas; Mesa, Ariz.; Las Vegas; Wichita, Kan.; and Colorado Springs, Colo.

    In general, the most unequal cities boast among the nation’s most boast-worthy economies, while the less unequal cities sport more middling ones.

    The report also noted that not all unequal cities are unequal in the same way – a point that could be valuable in strategizing how best to address each city’s inequality problems.

    For example, San Francisco is extremely unequal because its richest residents have sky-high incomes: The top 5 percent make more than $353,000.

    But Miami tops the unequal list not because its rich are especially rich – top earners there make about as much as top earners in the least unequal cities – but because its poor households make extraordinarily little. The bottom 20 percent make less than about $10,000 a year, according to the report.

    Indeed, the report emphasized that in most cities (albeit not San Francisco) the root cause of increasing inequality is not the rich getting richer, but the poor getting poorer.

  2. Bob is still unemployed   says:

    > Why The Office Is The Worst Place For Work

    Excellent article and to the point.

    I was not allowed the advantage of working from home, or working outside the office. I used to go in to work at 5 in the morning, so I could get a lot of things accomplished before all the interruptions started when everyone else arrived 9:30 or so.

    Unfortunately, my manager objected when I left at 5pm (after I had been working 12 hours), saying that I should not work the 9-to-5 day. Even after showing him the security check-in logs, he refused to believe that anyone would show up for work at 5 in the morning, and again insisted that I stop leaving at 5pm.

    Sometimes management is the biggest cause of a person’s lack of productivity.

  3. jankynoname says:

    Damodaran is the man! I opened the link expecting a complete takedown piece on how absurd the valuation was, and instead I got some actual insight on how the deal can make sense.

  4. VennData says:

    From the watch what they do, not what they say department…

    Rupert Murdoch pays $57M for a four-floor penthouse on E. 23rd St.

    ​Why would this guy who rails against taxes and liberals move to the highest ​concentration of both in the US? And why would Koch?

    And Schwarzman who likens paying higher taxes than working people akin to “Hitler invading Poland?”

    Not you too, Rush?

    Write to Rush
    The Rush Limbaugh Show
    1270 Avenue of the Americas
    New York, NY 10020

  5. nofoulsontheplayground says:

    Stock Trader’s Almanac, Chirstopher Mistal, February 20, 2014:

    “$SPX $SPY Down January/Up February, Historically Bearish”

    This makes sense, as the mid-term low in the 4-year Presidential Election Cycle is due this year.

    • How is February this year?

      • nofoulsontheplayground says:


        Did you read the article? My comment was based upon the article, not its title. Here’s the data point from the article which was supportive of the mid-cycle low thesis:

        Recall, every down January since 1950 was followed by a new or continuing bear market, a 10% correction or a flat year. A positive February does not change this.

        Have a great weekend!