My sick at home reading:

• Why is Wall Street so divorced from reality? A psychological explanation. (The Week)
• Q&A: Why the Dollar Remains the Reserve Currency (Economix) see also China Banks Drained by ‘Vampire’ Internet Funds (Bloomberg)
• CEO Jackpot (Boston Review)
• Pimco Chases BlackRock in ETFs as Money Returns to Bonds (Bloomberg)
• Sophisticated gamblers ruin and survival chances (Cornell University Library)
• Double Dip: Doctors Paid to Advise, Promote Drug Companies That Fund Their Research (ProPublica)
• Eleven (so Far) Worthwhile Reviews of and Reflections on Thomas Piketty’s “Capital in the Twenty-First Century” (Washington Center for Equitable Growth)
• Wal-Mart manager speaks out about his store’s ugly reality (Salon)
• What I learned from going blind in space (TED)
• New York Fed says large banks have a significant funding advantage (WSJ)

What are you reading?


Source: Bloomberg Brief


Category: Financial Press

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8 Responses to “10 Mid-Week PM Reads”

  1. rd says:

    Good piece by Blodget on Buffet’s approach to investing (or not investing that is) in new technologies.

    The concept of shorting horses instead of buying car manufacturers in 1900 is intriguing.

  2. VennData says:

    Board Rules Northwestern Players Can Unionize

    ​This will be the end for them. Union?! ​The vast majority of unionized pro teams do not win the championship of their league.

    Typos aside, I think the WSJ Opinion Page will hire me on my argumentative merit alone!

    • rd says:

      I agree with you entirely. Both the NBA and NFL have strong player unions and only 3.33% of NBA teams and 3.125% of NFL teams win their league championships, so clearly unionizing is a major negative force in preventing teams from winning championships.

      The Northwestern players’ move clearly means that their chance of winning an NCAA football champ will be less than 4%, so obviously this is a bad move for their competitiveness.

    • rd says:

      BTW – I think the obvious next steps will be fascinating to watch as they play out. Obviously college football programs will move from union-friendly states like New York, New Jersey, Illinois, etc. and become more focused in non-union states like Texas, Alabama, Arkansas, Oklahoma etc.

      However, once it is clear that cost of even these programs are going up at an unacceptable rate, the Koch brothers and otherws will lead a movement to out-source the college football teams to lower-cost non-Union areas like India, China, and Vietnam. Just-in-time logistics developed by Amazon and others will be used to ship the teams and fans to the new game sites that will be outside of NLRB jurisdiction. This will all be presented on Fox News as the All-American solution to the problem of unionization.

  3. ch says:

    Author of article saying “why dollar remains reserve currency” is correct about the rearview mirror view, but says nothing for what is developing in the road ahead.