10 Wednesday AM Reads

Its day 2 of the FOMC meeting, and apparently, I am one of the few on this planet who believe keeping or removing the word “patient” is totally irrelevant. But your patience will be rewarded with our midweek morning train reads:

• The Fuzzy, Insane Math That’s Creating So Many Billion-Dollar Tech Companies (Bloombergsee also Mind Games That Can Kill Investors (Stock Charts)
• Stock Performance Before, During & After Recessions (A Wealth of Common Sense)
• Commodities two-fer:
…..-Gold Futures Fall to Four-Month Low Ahead of FOMC Meeting (WSJ)
…..-U.S. Oil Prices at Six-Year Low on Storage Concerns (WSJ)
• 86% of active managers failed to beat market in 2014 (CNN Money)
• The dollar is rising faster than any time in the last 40 years (Washington Postsee also Rising Dollar Is Creating Trouble for Emerging Economies (Upshot)

Continues here


Category: Financial Press

The Company Taint

Hilarious:   Source: Dilbert

Category: Corporate Management, Humor

The Fed — Drunken Coxswain of the SS America

The Fed – Drunken Coxswain of the SS America Paul L. Kasriel The Econtrarian, March 17, 2015     Back on January 25, I penned a piece entitled “The Fed – Lucky or Smart?”. In that commentary I argued that the Fed was managing the supply of total thin-air credit, i.e., the sum of commercial…Read More

Category: Economy, Federal Reserve, Think Tank

Masters in Business: Brad Katsuyama

This week, our “Masters in Business” radio podcast features Brad Katsuyama of IEX. Katsuyama may be best known for his role as the lead character in Michael Lewis’s book, “Flash Boys: A Wall Street Revolt.” In our podcast, Katsuyama describes how it became clear thatsomething had changed in the market structure, but no one really knew what it was. He…Read More

Category: Podcast

Putting Big Pharma In Perspective

Source: Dadaviz h/t Randal Olson Source: Randal Olson

Category: Corporate Management

Separate Trend from Cycle

From Torsten Sløk: Demographic developments are putting downward pressure on interest rates globally. But it is important to remember that the trend seen in the chart below is structural and very slow moving. Around this long term trend we have the business cycle, which is driven by positive and negative changes in confidence. In other…Read More

Category: Cycles, Markets

The Great Global Sovereign Bond Shortage

Expectations of economists and pundits notwithstanding, interest rates are falling around the world. Despite the end of quantitative easing in the U.S., and the possibility that the Federal Reserve will raise rates later this year, the long-feared economy-killing yield spike has yet to appear. During the past few months, I have been discussing this with…Read More

Category: Credit, Fixed Income/Interest Rates

Co-Hosting: Bloomberg Radio 8-10 am

click for live radio >   If you are anywhere near a radio this mornings, I will be the guest hosting “Bloomberg Surveillance” with Tom Keene once again from 8:00 – 10 am. Lots of great guests tee’d up: 8:00 Carl Riccadonna, Bloomberg Intelligence 8:18 David Zervos, Jefferies 8:30 Fadel Gheit, Oppenheimer 9:00 James Shugg, Westpac…Read More

Category: Media

10 Tuesday AM Reads

Markets were upbeat yesterday on news from Europe. As my pal Doug Kass noted, the Dow rose 140 last Monday, was down 330 on Tuesday, +260 on Thursday, -250 on Friday (before finishing -145), while yesterday +228. And today? We have your morning train reads: • Mutual Funds Pick Year When S&P 500 Is Up 1% to Beat the…Read More

Category: Financial Press

Category: Think Tank