10 Tuesday PM Reads

My afternoon train reads:

• “Stocks and bonds aren’t good enough anymore” – Wall Street (TRB)
• American Banks Stockpile Treasuries as Deposits Top Loans (Bloomberg)
• As Gross Joins Janus, Key Man Risk Examined (CIO) but see Watch Out, Gundlach: Bond King Gross Could Rise Again (Think Advisor)
• “I Have No Idea” (Motley Fool)
• Bernanke, Paulson and Geithner Face Grilling Over AIG Bailout (WSJ)
• China Helps Push Mercedes Brand to Record Month: Daimler Group Sales Rise 12% in September (WSJ)
• I’m an Internet Troll and Proud of It (Bloomberg View)
• Clean Coal Era Begins  (Scientific American)
• The Bacon Boom Was Not an Accident (Businessweek)
• Venture capital and the great big Silicon Valley asshole game (Pando Daily)

What are you reading?

 

 

Gas Prices Down 11% From YTD Highs  
Gas Prices Last 12 Months100614
Source: Bespoke Investment Group

 

 

Category: Financial Press

Goldbugs Push Back

  “Never try to teach a pig to sing- it wastes your time and annoys the pig.” – Robert A. Heinlein, The Notebooks of Lazarus Long   Whenever I write about Gold, the pushback is always robust. Yesterday’s column How Low Can Gold Go? was no different. As a public service, I thought I would…Read More

Category: Markets

Business Cycle Chart

I love this chart from Fidelity:   How to Invest Using the Business Cycle Source: Fidelity

Category: Cycles, Investing

NDR: 1980s Gold Pattern Suggests $660/oz

Gold is one of those topics that always generates fierce pushback whenever I write about it. Yesterday’s column How Low Can Gold Go? was no different. A deluge of emails and over 150 comments soon followed. I may post some of the more informative, vociferous and misguided comments / emails from readers later today as…Read More

Category: Cycles, Gold & Precious Metals, Technical Analysis, Trading

10 Tuesday AM Reads

Good Nobel morning to you. No worries if you did not get a phone call from Stockholm, we still have a prize awaiting you: your morning train reading! : • S&P 500 Companies Spend 95% of Profits on Buybacks, Payouts (Bloomberg) • The Real Lesson of Lehman (NY Books) see also A.I.G. Bailout, Revisionists’ Version…Read More

Category: Financial Press

Income Inequality and Income-Class Consumption Patterns

Economic Commentary Income Inequality and Income-Class Consumption Patterns LaVaughn M. Henry Federal Reserve Bank of Cleveland, 10.06.2014   As income inequality has increased in the United States, researchers have rightfully asked whether it has also led to inequality in relative consumption. This is an important question because consumption is clearly a better measure of an…Read More

Category: Think Tank, Wages & Income

RWM is Coming to Wash, D.C. Next Week

A quick reminder that later this month, we have only a few slots left to meet with me and our the head of Financial Planning group when we will be visit with clients and prospective clients in the Washington, D.C. area on October 15h and 16th.

For those of you who are familiar with our investing philosophy, it is an opportunity to have a more in depth, personal conversation about your personal financial circumstances. For those of you who want to get the news straight from the horse’s mouth, come hear what I have to say on markets, the economy, and investing. (For a flavor of the conversation, check out the audio of our last quarterly conference call is below).

If you are interested in discussing about your personal financial circumstances, meeting with us, or simply hearing our views, give us a call or email.

Send email to Info -at- RitholtzWealth -dot- com, with the subject “DC Trip.”

Or call 212-455-9122 and ask for Erika.

LOGO_horizontal

 

Our last quarterly conference call is after the jump.

Read More

Category: Asset Allocation, Investing

10 Monday PM Reads

My afternoon train reads: • Bond investing isn’t about forecasting (Medium) • The Vultures of Wall Street: The Financial Firms that Prey on Sovereign Debt (Boston Review) • After Bill Gross drama, the era of star investors isn’t over – it’s just different (Yahoo) see also A Poor Stretch for Mutual Funds (Barron’s) • ALEC CEO: Google’s…Read More

Category: Financial Press

Masters in Business: Jack Schwager’s Market Wizards

In this week’s “Masters in Business” podcast, I talk with Jack Schwager, the author of “Market Wizards: Interviews With Top Traders.” More than 25 years after the first book was published in 1989, the series remains one of the most widely read books on Wall Street trading desks.

In our interview, Schwager describes how he managed to convince numerous top traders and asset managers — many of whom were notoriously press shy — to have long, on-the-record conversations with him. He had begun his career as a research analyst at Commodities Corp., taking over the desk that Michael Marcus was vacating. Marcus, who went on to gain Wall Street fame by turning $30,000 into $80 million by trading commodity futures, spoke with Schwager about his approach to trading. Others who had avoided the limelight soon followed, and a classic work of finance was born.

There are consistent themes found in Schwager’s interviews: discipline, risk management and capital preservation, intellectual flexibility, personal responsibility and honest self-appraisal. William Eckhardt, who famously debated with Richard Dennis about whether trading could be taught, summed up many of these rules with the quote: “Amateurs go broke taking large losses, professionals go broke taking small profits.”

You can hear the full interview, including the podcast extras, by downloading the podcast here or streaming it at SoundCloud. Next week, we speak with Larry Swedroe, Buckingham Asset Management’s director of research.

 

Streaming audio podcast after the jump
 

Read More

Category: Podcast

The United States of Oil

Source: Fortune

Category: Digital Media, Economy, Energy