My morning reads, perfect for hump day (continues here):

• Why trading volume is tumbling, explained in 5 charts (MarketWatch)
• Are you the best trader ever? (Irrelevant Investor) see also 7 market myths that make investors poorer (MarketWatch)
• A Fourth of July inflation bugaboo (Columbia Journalism Review)
• Born in 1988. Sorry. (Bloomberg View) but see A sign of economic health: 2.5 million people quit their jobs in May, most since 2008 (Real Time Economics)

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.

15 Responses to “10 Wednesday AM Reads”

  1. hue says:

    This is what happened when I drove my Mercedes to pick up food stamps (WaPo) Upworthy headlines are infectious

    Is Google trying to sabotage the “right to be forgotten”?(Quartz) Kevin Kelly says the internet does two main things, it tracks and it copies.

    • hue says:

      all bron bron all the time

      Remember When LeBron Stopped the NBA Offseason? (Grantland) How LeBron James Earned $450 Million During His NBA Career (Forbes)

      LeBron to announce “The Decision” at the UN (Borowitz) Breaking: LeBron James Leaning Toward Joining Al-Qaeda (The Onion)

  2. VennData says:

    Marc Faber’s market calls.

    http://www.calculatedriskblog.com/2014/07/wednesday-fomc-minutes.html

    File this one under useless punditry.

  3. Arequipa01 says:

    http://medicalxpress.com/news/2014-07-high-earners-stock-game-brain.html

    I saw this article somewhere yesterday and I thought it might be of interest given the cognitive bias bias here.

    “Montague and colleagues enrolled 320 subjects in a market-trading simulation game. Up to two dozen participants played in each of 16 market sessions, with two or three participants simultaneously having their brains scanned using functional magnetic resonance imaging, or fMRI, a noninvasive technique that allows scientists to use microscopic blood-flow measurements as a proxy for brain activity.

    At some point during the 50 trading periods of each session, a price bubble would invariably form and crash. The scientists had suspected that crowd cognition would result in some bubble formation, though they had not expected it to happen every time.

    What surprised the scientists even more were the distinctive brain activity patterns that emerged among the low earners and high earners.

    Traders who bought more aggressively based on activity in one brain region, the nucleus accumbens, earned less.

    In contrast, the high earners seemed to ignore nucleus accumbens activity in favor of the anterior insular cortex, a brain area active during bodily discomfort and unpleasant emotional states. “

  4. Arequipa01 says:

    A resource on the nucleus accumbens:

    http://thebrain.mcgill.ca/flash/i/i_03/i_03_cr/i_03_cr_par/i_03_cr_par.html

    “The nucleus accumbens definitely plays a central role in the reward circuit. Its operation is based chiefly on two essential neurotransmitters: dopamine, which promotes desire, and serotonin, whose effects include satiety and inhibition. Many animal studies have shown that all drugs increase the production of dopamine in the nucleus accumbens, while reducing that of serotonin.”

  5. Jojo says:

    Media in the USA should follow this same standard.
    ===========
    BBC told to cool it on climate change deniers
    Independent group BBC Trust tells network giving man-made global warming deniers too much press creates ‘false balance’

    July 7, 2014 12:25PM ET

    Viewers or listeners to the BBC could soon be hearing a lot less hot air from climate change skeptics, under new guidance warning of the risk of “false balance” in science reports.

    The respected broadcaster has been told by the BBC Trust, an independent review body set up by the network to uphold standards, that news bulletins give too much weight to those on the fringes of science, to the detriment of the public’s better understanding.

    The Trust, in a report four years in the making, said that the network pays so much attention to the appearance of impartiality that many of its broadcasts end up with a “false balance” — giving equal time and attention to often-discredited ideas. While the report did not focus solely on climate change, it used the issue as an example of the network taking an “over-rigid application of editorial guidelines on impartiality.”

    http://america.aljazeera.com/articles/2014/7/7/bbc-climate-change.html

  6. Jojo says:

    Great idea!
    =========
    MIT Technology Review
    July 8, 2014
    Forget the Shortest Route Across a City; New Algorithm Finds the Most Beautiful

    If you prefer beautiful routes over short ones, GPS mapping algorithms are of little use. But Yahoo! researchers have come up with an approach that could change that.

    The way we navigate in cities has been revolutionized in the last few years by the advent of GPS mapping programs. Enter your start and end location and these will give you the shortest route from A to B.

    That’s usually the best bet when driving, but walking is a different matter. Often, pedestrians want the quietest route or the most beautiful but if they turn to a mapping application, they’ll get little help.

    That could change now thanks to the work of Daniele Quercia at Yahoo Labs in Barcelona, Spain, and a couple of pals. These guys have worked out how to measure the “beauty” of specific locations within cities and then designed an algorithm that automatically chooses a route between two locations in a way that maximizes the beauty along it. “The goal of this work is to automatically suggest routes that are not only short but also emotionally pleasant,” they say.

    http://www.technologyreview.com/view/528836/forget-the-shortest-route-across-a-city-new-algorithm-finds-the-most-beautiful/

  7. thomas hudson says:

    society of professional journalists writes letter to obama administration asking for more transparency:

    http://www.spj.org/news.asp?ref=1253

    signed by 40 different organizations.

  8. willid3 says:

    hm, so if we go to premium support, 95% of the elderly wont be able to afford health care at all?
    not sure what private insurance plans cover the elderly, they were excluded from Obamacare. and private insurers dropped offering coverage and have no interest it offering it cause they know one thing. they will make claims all year, and it wont be cheap. and thats what lead to Medicare being created.

    http://www.reuters.com/article/2014/07/08/us-column-miller-medicare-idUSKBN0FD1N320140708?feedType=RSS&feedName=PersonalFinance

  9. willid3 says:

    coming soon, your insurance company will know all of your driving habits. and will charge you accordingly. but if decide to not let them track you they will charge you more, or not insure you at all. plus its possible you will end up on a specialty policy (i,e, expensive, very expensive)

    http://qz.com/230055/car-insurance-companies-want-to-track-your-every-move-and-youre-going-to-let-them/

  10. willid3 says:

    obviously the Earth and Mars have the same temperatures. every one knows that!

    http://www.msnbc.com/msnbc/kentucky-republican-says-mars-climate-refutes-global-warming

  11. willid3 says:

    why labor costs are going to explode? cause this isnt the 70s?

    http://pragcap.com/3-reasons-todays-environment-is-not-like-the-1970s