May 19, 2012, 7:15 pm
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Older >Quote of the Day: Colleges Care More About Diversity of Freshman Classes than Senior Classes
From the WSJ's interview with Abigail Thernstrom:The Voting Rights Act fits a familiar pattern. "This is the usual civil rights legislation story. It starts out being about opportunity and ends up being about results. We see that in any...
Question 9 of my final exam for Design and Analysis of Sample Surveys
9. Out of a population of 100 medical records, 40 are randomly sampled and then audited. 10 out of the 40 audits reveal fraud. From this information, give an estimate, standard error, and 95% confidence interval for the proportion of audits in the...
Facebook IPO Goes Nowhere In Exciting Fashion
What does this tell you? The key facts are that 43mm shares of Facebook changed hands at $38.00, almost all of them at the bid, and another 28.5mm traded at $38.01, largely at the ask.* I am not really smart enough to interpret – humans and...
Links for 2012-05-19
Q&A: Lessons on Central Banking from Adam Posen - Real Time Economics Simon Wren-Lewis: Is Eurozone Austerity Self Defeating? - Brad DeLong Why a Strong Middle-Class Is Necessary For Growth - Mike Konczal Explaining the rise of child labour...
Morgan Stanley Was A Control-Freak On Facebook IPO -- And It May Have Royally Screwed Itself
NEW YORK (Reuters) - Lead Facebook Inc underwriter Morgan Stanley took a bet earlier this week when it increased the size of the social networking firm's $16 billion initial public offering and it boosted the price. Thanks to massive hype...
Well they don’t kill trees for toilet paper – I guess that’s a start
Meet the new “Greens” - your friendly neighborhood suicide bomber. I’ve never seen a more polluted, filthy place on earth than the Middle East but I haven’t traveled to Russia yet, so there’s still...
GM passes on running TV ads during 2013 Super Bowl
DETROIT (Reuters) - General Motors Co will not advertise in next year's Super Bowl because it is too expensive, the top marketing executive for the U.S. automaker said three days after the company announced it was dropping paid ads on Facebook...
FACEBOOK HOLDS THE IPO PRICE AFTER WAR OF $38
UPDATE: It held! Facebook ends around $38.20 ORIGINAL POST: Facebook underwriters buying shares like crazy to hold the $38 IPO Price In The Final Minutes Of The Day. We'll see if they can hold. Please follow SAI on Twitter and...
J.P. Morgan to Give $168 Million to MF Global Trustee
J.P. Morgan agreed to hand over $168 million to a bankruptcy trustee representing customers of MF...
EU Official: Greek Exit Plans Discussed
The European Commission and the ECB are drawing up plans should Greece abandon the euro, Trade Commissioner Karel De Gucht said in an interview published...
So who will they tax next? Hint: if you’re at the poker table and you don’t know who the chump is …
DOW blue chips fall again. Blue chips extended a streak of declines the likes of which hasn’t been seen in almost 40 years, amid concerns about the euro zone and Facebook’s lackluster debut. ...
Europe’s depressing prospects
Normally I don’t like to write about European prospects in the midst of a very rough patch in the market because in that case there isn’t much I can say that isn’t already being said. I find it more useful to wait for those...
Facebook Opens at $42, Valued at $116.6 Billion
Facebook shares started trading at $42 a share on Nasdaq around 11:30 a.m. Friday morning under the symbol “FB.” The company’s 421.2 million shares offered to the public will now raise $17.7 billion, bringing its...
Gold and Apple Update
It has been a volatile week in global markets and an update on gold is overdue. I last wrote about gold and its corresponding ETF, GLD, on May 4th. For several months I monitored the long-term channel in gold, which was broken in April....
Spanish Bad-Loans Ratio at 8.37 Percent, a 17-Year High; CDS at Record High; Bankia Suffers Huge Losses Purchasing 15.5 Million Its Own Shares to...
It's time for another roundup on Spain. Every day is time for another roundup on Spain. Today's report is on bad loans, and complete foolishness at Bankia buying its own shares hoping to stabilize its price. Spanish Bad-Loans Ratio Hits 8.37...
The NKs win when only the RBC model is left standing
Karl Smith starts off a new post as follows: I define the simplified version of the Sumner Critique as follows: If the Central Bank is targeting Nominal GDP precisely then all other macroeconomic effects become classical in nature. That’s a...
Potemkin China: Struggling to Discover Its True Self
When I think about an economic black box China is the economy that comes to mind. This video from Reuters shows a Chinese economist snooping around Chinese ports and commercial areas looking for clues on the ground. What did he find? An economy that...
BOMBSHELL REPORT: Jamie Dimon Personally Approved The Concept Of The Disastrous Trade, Losses Could Total $5 Billion
Details continue to emerge regarding JP Morgan's shocking multi-billion trading losses. However, the biggest behind-the-scenes report so far was just published by The Wall Street Journal and written by Monica Langley. Here's how Dimon first...
Hot Links: Apocalypse Soon
Stuff I'm Reading this Morning... Cullen Roche: "In many ways the market has a 2008 feel to it." (PragCap) Todd Sullivan: Blah blah blah, there's always a recession coming. (ValuePlays) Linda Stern on how to vet a...
Equal Rights Spurred Productivity
Chrystia Freeland highlights research showing that reduced discrimination over the last 50 years gave the economy a substantial boost -- increased fairness gave us increased efficiency. Unfortunately, however, it appears that new barriers may be...
Sad News: Mish Shedlock’s wife Joanne has passed away
Mish Shedlock has just let us know that his wife Joanne, who has been suffering from the degenerative Lou Gehrig’s Disease, has just passed away. Mish has kept this problem to himself until the final months, when he launched an appeal to raise...
Facebook Prices Its IPO at $38
Facebook priced its initial public offering at $38 a share, a move that values the Internet company at more than $100 billion. It tried floating higher numbers to investors but was...
Are Facebook Credits the key to the social network’s future?
As it ramps up for its initial public stock offering, there’s been a lot of attention focused on Facebook’s lack of performance as an advertising platform, despite its enormous size and reach. It’s an important issue for...
Facebook IPO Day Closing Price predictions
<img src="http://feeds.feedburner.com/~r/Maoxian/~4/O0Kmei3P11c" height="1"...
BloombergNews: RT @srabil: Is private equity contributing to dental abuse? Check out this piece from Bloomberg: http://t.co/kwMd6kwK #privateequity
BloombergNews: RT @srabil: Is private equity contributing to dental abuse? Check out this piece from Bloomberg: http://t.co/kwMd6kwK...
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Life Inside The Jamie Dimon Bubble
We are apparently reaching the stage in the JPMorgan $2 billion fail-scapade when the patsies are identified and shamed. JPMorgan co-CIO Ina Drew has already cashed out in the wake of the losses, with two underlings, Achilles Macris and Javier...
Paul Krugman Appears on "The Week" and Thinks We Are Doomed
Paul Krugman: http://krugman.blogs.nytimes.com/2012/04/29/were-doomed-2/: Update: So you see what I mean. We have a terrible failure of demand — and Carly Fiorina thinks the key problem is excessive taxes on corporations (our effective rate is...
Quote of the Day: Colleges Care More About Diversity of Freshman Classes than Senior Classes
From the WSJ's interview with Abigail Thernstrom:The Voting Rights Act fits a familiar pattern. "This is the usual civil rights legislation story. It starts out being about opportunity and ends up being about results. We see that in any...
Baidu’s New Forked Android Phone: China’s Search Giant Wants To Make Windows Phone, iOS Versions Too
Big mobile plans afoot for Baidu, the Google of China that leads in search and has launched a host of other services in the wake of that business. The company today unveiled the first smartphone to be built on its own platform, the Changhong H5018. And...
Navigating the ETF Galaxy
ETFdb describes the growing ETF universe as follow: At times, it seems as if the number of ETFs available to U.S. investors will soon exceed the number of stars in the sky. That might be overstating things a bit, but the pace of expansion in the ETF...
Quote of the Day: Other Bankers are Even Dumber Than Jamie Dimon
From JPMorgan CEO Jamie Dimon, on whether his bank's $2 billion trading loss suggests that bank trading ought to be more closely regulated: Just because we’re stupid doesn’t mean everybody else was. Dimon is digging...
Foxconn Profit Down As Scrutiny Forces Corporate Changes
Taiwanese electronics manufacturer Foxconn saw its profits fall to $509 million from $1.19 billion last quarter. Chairman Terry Gou said this quarter was particularly affected by Foxconn’s recent image problem. Improvements in wages, worker...
Hot Links: Apocalypse Soon
Stuff I'm Reading this Morning... Cullen Roche: "In many ways the market has a 2008 feel to it." (PragCap) Todd Sullivan: Blah blah blah, there's always a recession coming. (ValuePlays) Linda Stern on how to vet a...
Morgan Stanley Was A Control-Freak On Facebook IPO -- And It May Have Royally Screwed Itself
NEW YORK (Reuters) - Lead Facebook Inc underwriter Morgan Stanley took a bet earlier this week when it increased the size of the social networking firm's $16 billion initial public offering and it boosted the price. Thanks to massive hype...
FACEBOOK HOLDS THE IPO PRICE AFTER WAR OF $38
UPDATE: It held! Facebook ends around $38.20 ORIGINAL POST: Facebook underwriters buying shares like crazy to hold the $38 IPO Price In The Final Minutes Of The Day. We'll see if they can hold. Please follow SAI on Twitter and...
Question 9 of my final exam for Design and Analysis of Sample Surveys
9. Out of a population of 100 medical records, 40 are randomly sampled and then audited. 10 out of the 40 audits reveal fraud. From this information, give an estimate, standard error, and 95% confidence interval for the proportion of audits in the...
Charlie Munger quotes
From Munger’s Friday CNBC interview: “Berkshire has always tried to keep a culture where we act like we were having a recession when we aren’t.” ………. [After they discussed how Warren Buffett wants to...
GDP Growth Could be Higher
GDP growth for the first quarter, as noted in the post below this one, is estimated to be 2.2%. That is not as high as it needs to be to recover in a decent amount of time, and one of the problems is that government spending has declined during the...
Why China’s RMB exodus IS the story
There is a huge developing story in China’s currency, the renminbi.After years of structural under-valuation, things are changing.China faces what we have described...
Which One Are You?
________________________________ Don’t look now, but the homies leading us higher today (XHB). I discussed the sector at length in this video over the weekend. Also, check out Downtown Josh Brown’s analysis today over at his The...
Facebook: The smart money exits
The Facebook IPO is now set to raise an absolutely astonishing amount of money — as much as $18 billion, if the greenshoe is exercised and the offering prices at the top of the indicated range. As a result, it’s certain to be the...
10 Monday AM Reads
My early morning reads to start the week: • Mutual Funds That Are Too Big to Succeed (SmartMoney) • Stocks and the Economy, Singing Different Tunes (NYT) • 1 in 2 new graduates are jobless or underemployed (Yahoo News) see also Upon...
Retail Investors Are A Lot Smarter Than You Would Think
Despite stereotypes to the contrary, retail investors are right more often than not. Paul Tetlock and Roger F. Murray at Columbia Business School and Eric Kelley at University of Arizona found that net buying activity by retail investors positively...
Facebook IPO: the art of pricing the right pop
With seemingly unceasing demand for Facebook's initial public offering, the banks that are in charge of selling the stock to investors might seem to have the easiest job in the...
peHUB First Read
PE pushes for good PR They might be Square but they’re on a roll Insane that folks’ Klout scores are worth so much (or, so little…) IPO Time: Viva Envivo! Former UBS executive makes private equity waves At Last! An iPad app...