Happy Friday:

• Schwab: High-Frequency Trading is a Cancer (Charles Schwab) see also BATS Admits CEO Lied About HFT on CNBC (Zero Hedge)
• Earnings Needed (FT Alphaville)
• How the Supreme Court Could Stop the 401(k) Rip-Off (Yahoo)
Idle Cash Piles Up: U.S. nonfinancial companies hold at least three times more cash than the Federal Reserve reports (Reuters)

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.

18 Responses to “10 Friday AM Reads”

  1. The B-2 went from 132 to 21, an 84 percent reduction; this 32 to 3, so 90 percent . . . I think this is all beginning to make some sense . . .

    “Perhaps the greatest comfort for those who fear the idea of an agile, 15,000-ton naval drone with stealth technology and missiles is that there won’t be too many of them. The original plan was for 32 Zumwalt-style ships, but escalating research and development costs drew congressional ire. After repeated pruning, the Navy will now have only three of its next-generation destroyers.”

    The Navy’s Newest Destroyer Is a Drone (Businessweek)

    http://goo.gl/z7viy4

  2. hue says:

    Wake Up And Smell The Caffeine. It’s A Powerful Drug (npr) Our grandparents drank twice as much coffee as we did. Peak coffee consumption was in the 1950s.

    At HBO’s ‘Silicon Valley’ Premiere, Elon Musk Is Pissed (re/code)

    ObamaCare Theater? Koch Brothers Looking to Build an Improv Troupe (NYMag) 80 barehanded men lift and move an entire house into a new location (Sploid) How many Mennonites does it take to screw in a light bulb?

  3. Bob is still unemployed   says:

    The New York Public Library Releases 20,000 Beautiful High-Resolution Maps (motherboard.vice.com)

    “Finally, you don’t have to raise your voice over a group of whisperers in the New York Public Library to get a better view of its map collection. Actually, you don’t even need to visit the place at all. Over 20,000 maps and cartographic works from the NYPL’s Lionel Pincus & Princess Firyal Map Division have been uploaded and made downloadable for the public….”

  4. Bob is still unemployed   says:

    The New York Public Library Releases 20,000 Beautiful High-Resolution Maps (motherboard.vice.com)

    “Finally, you don’t have to raise your voice over a group of whisperers in the New York Public Library to get a better view of its map collection. Actually, you don’t even need to visit the place at all. Over 20,000 maps and cartographic works from the NYPL’s Lionel Pincus & Princess Firyal Map Division have been uploaded and made downloadable for the public….”

  5. VennData says:

    Michigan has banned fake science research.

    http://www.nytimes.com/2014/02/23/us/opponents-of-same-sex-marriage-take-bad-for-children-argument-to-court.html

    The Heritage Foundation and their fabricated nonsense are not treated as equal footing with science. and reality. What a great place to invest in science, Michigan, where you can be sure no BS right wingers will make up nonsense and win money from you.

    Fight The Right

  6. thomas hudson says:

    a new peer reviewed science paper argues that it is ok to manipulate data to get your point across:

    http://ajae.oxfordjournals.org/content/early/2014/02/24/ajae.aau001.abstract

    It appears that news media and some pro-environmental organizations have the tendency to accentuate or even exaggerate the damage caused by climate change. This article provides a rationale for this tendency by using a modified International Environmental Agreement (IEA) model with asymmetric information. We find that the information manipulation has an instrumental value, as it ex post induces more countries to participate in an IEA, which will eventually enhance global welfare. From the ex ante perspective, however, the impact that manipulating information has on the level of participation in an IEA and on welfare is ambiguous.

    • willid3 says:

      it snot like those opposed would ever do that either is it?

    • Derektheunder says:

      That one just made me throw up in my mouth. It’s truly scary, how many people with influence think.

    • RW says:

      “a new peer reviewed science paper argues that it is ok to manipulate data to get your point across:”

      Can’t see any sign of that argument in the paper: Give us a quote and page number to help us out slow readers, eh.

  7. thomas hudson says:

    announcement from mozilla about eich’s resignation:

    http://blog.mozilla.org/blog/2014/04/03/brendan-eich-steps-down-as-mozilla-ceo/

    ‘Our organizational culture reflects diversity and inclusiveness. We welcome contributions from everyone regardless of age, culture, ethnicity, gender, gender-identity, language, race, sexual orientation, geographical location and religious views. Mozilla supports equality for all.’

    except when we buckle to demands from opposing viewpoints so as to appear politically correct. nice little internet firm ya got there. shame if anything happened to it.

    as wsj pointed out, eich held the same views president obama held in 2008, and yet no one is asking him to step down on this issue (and rightly so).

    • The things that outrage us often say more about us than those things. There’s a lot of crummy stuff in the world (of which, yes, I agree, this is certainly one), yet this is worth five paragraphs and the rest squat?

      Yeah, the unfair discrimination and prejudice against wealthy CEOs perpetrated by political correctness…it’s difficult to imagine anything in the world that causes more suffering.

    • Biffah Bacon says:

      2007: americablog.com/…/obama-campaign-spokesman-blasts-gays-at-gospel- concert-white-preacher-and-obama-say-nothing.html
      2012 americablog.com/…/some-top-gay-donors-allegedly-withholding-donations- to-obama-superpac.html
      2013 americablog.com/…/obama-named-one-russias-top-5-gay-heroes.html

    • RW says:

      Good article, much better than most (which needless to say includes WSJ editorials)

      A Few Thoughts on Brendan Eich

      For many who believe in marriage equality, the Eich story is like finding out that someone in a key position donated money to re-segregate schools or take back black people’s right to vote. People who don’t support marriage equality or at least think it’s a subject over which reasonable people can still differ can note that as recently as 2008 this was the view of a majority of Californians. Indeed, it was at least notionally the position of the Democratic President of the United States as recently as two years ago. So how can it possibly be beyond the realm of acceptable political discourse on the level of finding out someone donated money to David Duke or is a member of Stormfront? …

      There’s been a ratchet-like dimension that is at the heart of the moral economy of this issue – some window for people at different places on the issue to disagree and accept each others disagreement but a very different view of anyone who wants to take active measures to turn back the clock wherever the clock might happen to be in any particular part of the country. …

      Eich found himself on the wrong side of this historical divide, though largely through choices of his own making. And, as I said, there’s no right to be CEO. It’s different from virtually every other job where we all deserve a wide latitude in our own personal beliefs without having our livelihoods and well-being threatened. …

  8. VennData says:

    Reagan is the reason all those companies hold all that cash offshore (From Reuters above….)

    “…Historically the IRS has levied only privately owned firms or publicly traded companies with few shareholders. But Internal Revenue Code Section 531 applies to all corporations. President Ronald Reagan signed Section 532 (c), which made that explicit, though with an exception for untaxed offshore profits…”

    Call on your congressmen to simply change this law and you the investor will get it in dividends, buybacks, or further investment. .

    Voting has consequences.

  9. swag says:

    Timestamp fraud (and HFT) – how it’s done (w groovy animation)

    http://www.nanex.net/aqck2/4599.html

  10. thomas hudson says:

    new book out on alex chilton from big star:

    http://acculturated.com/the-tragic-life-of-alex-chilton/

    Though familiarity with the band Big Star remains the equivalent of rock and roll’s secret handshake, 40 years later there’s little doubt about the band’s lasting impact. Big Star was not a descriptive moniker. They released four albums in the early 1970s, produced no hits, and sold very few records. Alex Chilton, the musical genius who fronted the band, is perhaps best known for a song another band wrote about him. Yet, somehow Big Star’s modest influence grew out of oblivion until it practically invented two cherished genres that define today’s musical landscape—power pop and indie rock. These days, Big Star is a lot more than a musical footnote. Scratch the surface of a music geek and you’re likely to expose the underlying dermatitis of a full-blown Big Star obsession.