10 Tuesday AM Reads

Good Tax Day morning. Here’s what I’m reading so far:

• On tax day, who wants the rich to pay more? (MarketWatch) see also TurboTax Maker Astroturf Campaign Against Free, Simple Tax Filing (Talking Points Memo)
• Yangtze River Delta becomes epicentre for China credit risk (Reuters)
• Can your ‘money-losing behavior’ be cured? (MarketWatch) see also On the road to riches and diamond rings, real traders see real swings (TRB)
• A brief history of M&A (FT Alphaville)
• So, what’s it like to have too much money? Apparently, very stressful. (Vanity Fair)
• Priced out of Brooklyn (TBP) see also In Many Cities, Rent Is Rising Out of Reach of Middle Class (NY Times)
• Millions of Android Devices Vulnerable to Heartbleed Bug
• Why You Should Never Read the Comments (Priceonomics)
• The Heart of Dropbox (stratēchery)
• The Manhattan District Attorney Is Coming For David Samson (Esquire)

What are you deducting?


Where Your 2013 Taxes Went

Source: National Priorities


Category: Financial Press

How Pricey Are Equities?

One of the elements of modern punditry that continually surprises me is the insistence that stocks are grossly overvalued. As I have written repeatedly, stocks are more or less fully valued. However, since we don’t know what next year’s earnings are going to be, stocks can get cheap or expensive pretty quickly. It depends on…Read More

Category: Investing, Valuation

On Tax Day, Taxpayers Pick up $8 Billion Tab for Walmart and the Walton Family Report Provides State-by-State Estimates of Revenue Losses WASHINGTON — Walmart and the Waltons—America’s largest employer and richest family—received tax breaks and subsidies worth an estimated $7.8 billion in 2013, according to a report released today by Americans for Tax Fairness….Read More

Category: Really, really bad calls, Taxes and Policy, Wages & Income

Chasing Returns Has a High Cost for Investors

Chasing Returns Has a High Cost for Investors By YiLi Chien, Senior Economist St. Louis Fed 04/14/14       The investment behavior of households could be influenced by their own past experience, especially by the return performance of their portfolios.  We can see this through U.S. equity mutual fund flows being positively correlated with…Read More

Category: Investing, Psychology, Think Tank

The Ideological Middle Is Dead in Congress

Source: The Fix

Category: Digital Media, Philosophy, Politics

10 Monday PM Reads

My afternoon train reading: • Are Speculative Bubbles Good? (New Yorker) • Most investors have no idea what they’re doing (MarketWatch) • Predicting economic turning points (Vox) • Walmart On Welfare (National Memo) • CME Gave High-Frequency Traders Peek at Market, Lawsuit Claims (Bloomberg) • Krawcheck: Top Rookie Manager Mistakes (That Make You Look Like a Jerk) (LinkedIn) • Why…Read More

Category: Financial Press

Historical Presidential Cycle Pattern – 1928 through 2012

Source: BofA Merrill Lynch Global Research, Bloomberg     Bank of America Merrill Lynch took a look at the presidential-election cycle and found that, on average, the second year is rather weak. Continues here

Category: Cycles, Markets, Politics

10 Monday AM Reads

Back to the grind. Ease the transition with some reads: • Notes from the DoubleLine Lunch with Jeffrey Gundlach, Spring 2014 (Reformed Broker) • Dealing With Market Insanity (Trader Feed) see also Some Quick Thoughts Regarding the Tape…. (Phil Pearlman) • 5 burning questions investors have about markets right now (Financial Post) • Rotate, reflate,…Read More

Category: Financial Press

Why is 2014 Soft? Consider These Bear Market Excuses

Last week, we discussed why investors conflate various rationales when confronted with unknown stock market moves. As stated in “What’s Your Stock Market Story?,” people much prefer a narrative to any admission that market movements are often random. We know little, understand less and hate to admit it most of all. That column generated more…Read More

Category: Investing, Markets, Psychology

On Investing: Jonathan Clements and Jason Zweig

The Wall Street Journal’s two top personal finance journalists, Jonathan Clements and Jason Zweig, both now at The Wall Street Journal tackle the three greatest financial challenges facing Americans.

Category: Investing, Psychology, Video