My morning train reads (continues here):

• The significant problem in small cap (FT Alphaville)
• The Gold Standard Was an Accident of History (Macro and Other Market Musings)
• U.S. foreign-exchange trading drops nearly 20% (WSJ)
• If you want to be rich and powerful, majoring in STEM is a good place to start (Quartz)

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.

12 Responses to “10 Tuesday AM Reads”

  1. hue says:

    A guaranteed income for every American would eliminate poverty — and it wouldn’t destroy the economy (Vox)

    5 Reasons My Phablet is Fabulous: Crave’s Michael Franco has been living with an awfully big phone for just over four months. His conclusion? Size really does matter. (CNET)

    Home of Cheever, Chekhov of the Suburbs, Is for Sale (NYTimes) The Swimmer turned 50, best short story ever. Seinfeld kind of ruined John Cheever.

  2. rd says:

    Mark Hulbert is concerned about excessive bond bullishness. Correlation with past high bullishness periods indicates to him that 10-yr T-bonds could increase yields, potentially up to 4%, quickly.

    http://www.marketwatch.com/story/why-the-10-year-treasury-could-yield-4-by-thanksgiving-2014-07-29?link=MW_popular

  3. willid3 says:

    combining to discount retailers good 1% not so good for the rest of us?

    http://qz.com/241505/the-family-dollar-deal-embodies-everything-wrong-with-american-capitalism/

  4. arthurcutten says:

    You made some good comments today on Bloomberg, at least the ones that could be heard over the shrieking harpy. Thank you for that.

  5. rd says:

    This is a very interesting series of interviews with people who were nailed for fraud and are now do speaking engagements:

    http://www.marketwatch.com/story/financial-crime-does-pay-up-to-5000-a-speech-2014-07-29

    Sam Antar said it best in his interview: “Trust but verify”.

  6. Jojo says:

    NY Times
    A Dearth in Innovation for Key Drugs
    JULY 22, 2014

    There is clearly something wrong with pharmaceutical innovation.

    Antibiotic-resistant infections sicken more than two million Americans every year and kill at least 23,000. The World Health Organization has warned that a “post-antibiotic era” may be upon us, when “common infections and minor injuries can kill.” Even the world’s tycoons consider the proliferation of antibiotic-resistant bacteria one of the crucial global risks of our times, according to a survey by the World Economic Forum.

    Yet the enthusiasm of the pharmaceutical industry for developing drugs to combat such a potential disaster might be best characterized as a big collective “meh.”

    No major new type of antibiotic has been developed since the late 1980s, according to the W.H.O. From 2011 to 2013, the Food and Drug Administration approved only three new molecular entities to combat bacterial diseases — the lowest rate since the 1940s. “No sane company will develop the next antibiotic,” said Michael S. Kinch, who led a team at the Yale Center for Molecular Discovery tracking the evolution of pharmaceutical innovation over the last two centuries.

    And this is hardly the drug industry’s only problem. Antibiotics, Professor Kinch told me, “are the canary in the coal mine.”

    http://mobile.nytimes.com/2014/07/23/business/a-dearth-of-investment-in-much-needed-drugs.html

  7. Robert M says:

    “Our ‘mind design principle’ for new and more successful mental habits is thus a simple one: because thinking is self-talk, talk and thought are linked. To change patterns of thinking, change patterns of talking.”

    http://www.farnamstreetblog.com/2014/07/changing-how-we-think/

  8. Jojo says:

    More than a third of Americans reported to debt collectors, study finds
    Stagnant incomes a factor in inability to pay off hospital bills, credit cards and mortgages says Urban Institute

    July 29, 2014 6:10AM ET

    More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

    Consumers affected fall behind on credit cards and hospital bills or see their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially harming credit scores and job prospects, said Caroline Ratcliffe, a senior fellow at the Washington-based think tank.

    “Roughly, every third person you pass on the street is going to have debt in collections,” Ratcliffe said. “It can tip employers’ hiring decisions, or whether or not you get that apartment.”

    The study found that 35.1 percent of people with credit records had been reported to collections for debt that averaged $5,178, based on September 2013 records. The study points to a disturbing trend: The share of Americans in collections has remained relatively constant, even as the country as a whole has whittled down the size of its credit card debt since the official end of the Great Recession in the middle of 2009.

    ….

    http://america.aljazeera.com/articles/2014/7/29/35-percent-of-uspopulationfacedebtcollectors.html

  9. 4whatitsworth says:

    GARY SHILLING: Wall Street’s Herd Will Be Disappointed

    http://www.businessinsider.com/shilling-no-spring-thaw-for-us-economy-2014-7

    “Consumer spending is 69% of GDP and it barely grew in the quarter.”

  10. willid3 says:

    so exactly what currency will replace the dollar as the global reserve currency?
    the Euro. not this year. or decade even
    the renminbi? nope.
    http://www.nakedcapitalism.com/2014/07/financial-stability-essential-key-currencies-international-monetary-system.html