Happy Pi Day! Some reads to finish up the workweek:

• Thursday’s Selloff, by the Numbers (MoneyBeat) see also Funny: Why Did the Stock Market Sell Off? (Reformed Broker)
• The Best 401(k)s Set a Higher Bar for Others (NY Times)
• U.S. Criticized for Lack of Action on Mortgage Fraud (DealBook) see also New Suit Alleges Wells Has a Manual for Mass Fabrication of Foreclosure Documents (Naked Capitalism)
• Bitcoin’s Evolution Toward Self-Destruction (New Economic Perspectives)

continues here

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.

11 Responses to “10 Friday AM Reads”

  1. willid3 says:

    are comp plans a good thing?


    what happens with about 50% of the current jobs go away? who will buy any thing if they aren’t working?
    my uncle told me long ago that companies will only hire if they need some thing done, and they can’t do it them selves. well i can see a time where a company can produce a product using 3d printers, and robots. and provide support for them using computers. leaving maybe a few executives (but then who needs them?) and very few others. and if they just sell some one else’s product (retailers for example) they could get away with almost no workers at stores (if they have them).


  2. RW says:

    From firearms to elite venality the beat goes on in these United States, week after week, every week:

    GunFAIL LX: Welcome to Hooters! Is that a gun in your pants, or …

    An extraordinarily tough week for the kids this time around, with 13 accidentally shot, and a number of very young ones among the victims. Nine of the 13 were under age 10, and five of them were pre-schoolers. One of the victims was identified only as a child, so we can only guess how old he or she was. It could’ve been worse, of course. One of our “home invasion” shootings involved a stray bullet sent through the window of a home daycare. A total of six lucky Americans were gifted a freedom projectile by neighbors or other area patriots last week.

    The other big total, surprising no one, was the number people who accidentally shot themselves: 23 of them. …

    It was an otherwise “normal” week, though, with our regular assortment of gun cleaning accidents, dropped guns, accidental family shootings, etc. I’ll just let the list, found below the fold, speak for itself.

    Nate Silver Interview

    JC: So …who’s a hedgehog?

    NS: Uhhhh, you know… the op-ed columnists at the New York Times, Washington Post, and Wall Street Journal are probably the most hedgehoglike people. They don’t permit a lot of complexity in their thinking. They pull threads together from very weak evidence and draw grand conclusions based on them. They’re ironically very predictable from week to week. If you know the subject that Thomas Friedman or whatever is writing about, you don’t have to read the column…. It’s people who have very strong ideological priors, is the fancy way to put it, that are governing their thinking. They’re not really evaluating the data as it comes in, not doing a lot of [original] thinking. They’re just spitting out the same column every week and using a different subject matter to do the same thing over and over. …

    NB: Nothing for it but to try to make a few bucks and vote with the brain and heart instead of the gut.

  3. willid3 says:

    jobs for keystone?


    seems like the vast majority will be temps. and a lot of the jobs impact is more of a guess that jobs will be created because oil prices (and gas) will go lower.

    which is really odd when you consider that almost all of the oil (and gas) will end up exported where the prices are higher.

    sort of like that Tesla plant. most of the jobs will be temporary just to construct the plant. not that the states have figured that out yet

  4. willid3 says:

    oh oh.

    many are worried that wages have started sky rocketing …

    leading to rapid inflation

    ala 79


    of course they cant see wage increases yet. they just know its coming though.

  5. gordo365 says:

    Today’s reformed broker – list of pundits and theories of why stocks sold off yesterday – easily a top-ten financial blog post of all time.

    Past that to the wall and read every day before consuming noise/news.

  6. hue says:

    Possible names for the web included ‘Mine of Information,’ ‘The Information Mine,’ and ‘The Mesh’ (WaPo)

    A Relentless Widening of Disparity in Wealth (NYTimes)

    What the hell is Barack Obama’s presidency for? (The Guardian) Obama Spends Afternoon In Garage Restoring Classic Drone (The Onion)

  7. willid3 says:

    long history of class warfare in the US?


    just used to be the normals warring on the rich.

    now its the reverse. and nobody notices it

  8. Jojo says:

    Number of US millionaires tops pre-recession levels
    Business – March 13, 2014 2:44PM

    The number of U.S. millionaires appears to have recovered after the recession, with more millionaire households recorded in 2013 than in 2007.

    The number of millionaire households in the U.S. grew 7% in 2013 from the previous year, according to a study by Spectrem Group, which tracks affluent and retirement markets. 2013 saw the highest number of millionaire households — 9.63 million — since Spectrem began monitoring such data in 1997.

    “In terms of the affluent investor, it is fair to say they have finally recovered from the economic downturn.” Spectrem Group President George H. Walper Jr.

    The number of millionaire households hit a record high (9.2 million) in 2007, just before the economic crisis. Also in 2013, households worth more than $5 million and those worth more than $25 million grew for the first time since the recession.


  9. gordo365 says:

    Per Krugman article. “…for some people it’s always 1979.” I get it. For another generation – “It’s always 2000 and the market is abou to crash” Boy do I get it. #scarsthatscrewupyourabilitytoinvestsuccessfully

  10. Giovanni says:

    Josh’s column (linked above) is GOLD. Thanks for sharing.

  11. Giovanni says:

    .. and not in the hard metal, tinfoil hat sense….