My morning reading, served fresh with corn muffins and coffee:

• Yale: Alpha’s Not Dead, But Finding It Is Hard (AI-CIO)
• The Markets Are Punishing Russia More Swiftly Than Diplomats Ever Could (Quartz) see also How Stocks React to Geopolitical Uncertainty (MoneyBeat)
• The Cost of Bitcoin (stratēchery)
• Nonsense Forecasts (Reformed Broker) see also Dow 5,000 in 2013 was the worst forecast of 2013 (TBP)


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.

8 Responses to “10 Tuesday AM Reads”

  1. hue says:

    Federal Budget Deficit Falls to Smallest Level Since 2008 (NYTimes) How I learned to stop worrying and love the Russian invasion (Humble Student of the Markets)

    Twitter I Love You But You’re Bringing Me Down (Platypus Journal)

    For Mardi Gras season, dancing New Orleans police detective does the Wobble (The Times-Picayune)

    • ilsm says:


      There are many Russians who remember Sevastopol 1858 as a western affront and WW II as fascists killing Russians for German bankers’ gain.

      Good link on Russian invasion of Ukraine.

      Note 70 years ago this week Red Army was pushing German forces out of East Ukraine and heading toward “bandera” or collaborationist west Ukraine.

      Crimea has been Russia for centuries since the Tsars pushed the Turks out.

      Crimea was invaded by Anglo French forces to take the heat off the Turks in Bulgaria where the Tsar was helping Eastern Christians throw out the Muslims.

      Partitioning Ukraine should include the eastern Russian sector as well as Crimea.

      Under reported is the insurgent regime’s EU agreement includes a NATO protocol, which is Germany playing chess. Although mortgaging Kyiv and selling them high tech weapons from US welfare plants is not really threatening Russia.

      Unlike the Tsar who relied on Cossacks to raid Poland, Putin has nukes.

  2. RW says:

    WRT that rascal Rep Paul Ryan, his latest con-job and the Fiscal Times softpedal of same; e.g., “…interviews with economists – a number of whom are cited in Ryan’s paper – suggest that he may be building his house on sand.” – “suggest”? “may be”? Cripes, you don’t “start a conversation” by puking a stream of bullshit!

    Flimflam, The Next Generation

    Give Ryan some points for originality. In his various budgets, he relied mainly on magic asterisks — unspecified savings and revenue sources to be determined later; he was able to convince many pundits that he had a grand fiscal plan when the reality was that he was just assuming his conclusions, and that the assumptions were fundamentally ridiculous. But this time he uses a quite different technique.

    What he offers is a report making some strong assertions, and citing an impressive array of research papers. What you aren’t supposed to notice is that the research papers don’t actually support the assertions.

    …The thing is, we could be having a serious discussion about welfare and incentives; there are some real issues. But there isn’t anyone to have that discussion with.

  3. willid3 says:

    finance doesnt contribute to the economy as much as banks say they do? really?

  4. RW says:

    Personally I favor the general trend decriminalizing pot but believe how it is done (or not done) matters a great deal. Mark Kleiman has a great deal of policy expertise in this arena (he advised the state of Washington IIRC). This is his blog post which references several articles on point.

    How not to make a hash of marijuana legalization

    The cover package in the current issue of Washington Monthly includes articles on cannabis legalization by Jonathan Caulkins, Jonathan Rauch, and me, under the heading “Saving Marijuana Legalization.”

    All three pieces consider how to legalize cannabis rather than whether to legalize it. Caulkins and I both distrust the trend toward a commercial system on the alcohol model, …

  5. ch says:

    Markets punishing Russia via capital flight? Now that is the funniest thing I’ve read all day.

    Russia is the 2nd biggest oil exporter in the world; every barrel of oil they ship got much more valuable…ditto their reserves.

  6. TDHawk says:

    Interesting recent reads on Whatsapp’s 19 billion dollar valuation. Apps that reach a wider market has been a main focus on investment spending.

    The interesting thing about this is that the online infrastructure has been more accessible in other countries therefore raising the number of end users. Combine with the lack of innovation and Silicon Valley’s 1990s tech bubble crash that lead to social media investments to make a quick buck, I can’t shake the feeling that social media is a tech bubble. Especially, when compared to other tech in health sciences.

    The article here defines Whatsapp’s worth solely in attention currency. This maybe points to something unsustainable within the social media business. Maybe if it got it’s attention and did amazing things this would be a more feasible deal. Free cell phone text messaging does not seem that big of a deal.