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Stocks could fall another 50 percent or more (1353779)

Do stocks have much further to fall? The Wall Street Journal's Brett Arends asks that question. Despite Friday's boomlet, the Dow Jones Industrial Average still closed the week down 1%, and the broader S&P 500-stock index ended also down...



The Civility Whine



Inflation derps are people from the concrete steppes

Suppose I lend you $1,000, at 0% interest. But I warn you that as soon as you spend that $1,000, or lend it to someone else to spend, I will immediately make you repay the loan, or else raise the interest rate high enough to make you regret spending it...



(Early) Monday Clifford Asness Smackdown

Yes, I am happy that I am able to postpone reading further in chapter 11 of David Graeber's Debt: My First 5000 Mistakes for another week... Why? Because Joe Wiesenthal wants me to react to this, which has to be read in parallel with this, of...



Coyote’s Pipe Dream

He writes today: I learned a real lesson about politics from my brief involvement in this issue — which is, don’t ever become involved again.  I am still frankly reeling from the refusal of gay rights activists to work with our...



China Flinched

China flinched again. The country's central bank will inject $32 billion into the country's banking system, according to the Wall Street Journal. The capital will go to 2o major and regional banks. This is what the government refers to as...



Hedge Fund News: James Dinan, John Burbank & David Einhorn

Milwaukee Bucks add third hedge fund owner (CNBC) The big “bucks” keep flowing from Manhattan to Milwaukee. Billionaire investor Jamie Dinan, founder of York Capital Management, has joined fellow hedge fund managers Marc Lasry of...



Cuban Happy With Incidental Purchase of Netflix

After selling puts, Internet entrepreneur and Dallas Mavericks owner outlines a revolutionary business model and isn't alone in seeing the opportunity Mark Cuban apparently recognizes the revolutionary aspect of the Netflix, Inc. (NASDAQ:NFLX)...



Don’t Hold Your Breath for Double-Digit Increases in Housing Starts

Friday’s report on housing starts does little to change the overall trajectory of the sector’s uneven recovery. Single-family construction, after ramping up from extremely depressed levels in 2011 and 2012, appears to have recovered from last...



Yellen, Perspectives on Inequality and Opportunity from the Survey of Consumer Finances



To Restore Confidence in Economy, a Test of Europe’s Banks

The results, which are set to be released next weekend, may further rattle the markets if banks unexpectedly have to write down bad loans and quickly raise...



A Secret Document Detailing Divisions At The ECB Just Got Leaked

The New York Times has got hold of several months worth of European Central Bank minutes, running between May 2012 and January 2013.  The ECB is notoriously secretive, and unlike the Federal Reserve, Bank of Japan and Bank of England, releases...



At the Oregon Economic Forum: Introducing Doug Elliott: "Making Wall Street Work for Main Street

I am very happy to be here this morning to introduce the Oregon Economic Forum's Keynote Speaker, Doug Elliott of the Brookings Institution, and to set the stage for his talk. To do that, let me ask all of you to cast yourselves back to 2006, to...



The Double Down (On Stupid) Administration, Ebola Edition

The Obama administration doubles down on everything. It never, ever, admits an error, or that conditions have changed in  ways that makes its previous choices suboptimal and therefore worth changing. Obama repeatedly doubles down on deploying combat...



Hedge Fund News: Steven Cohen, Carl Icahn & Lansdowne Partners

New Name, New Office, Similar Performance for Steven Cohen (NYTimes) The best thing federal prosecutors might have done for Steven A. Cohen, the billionaire investor, is to force him to stop managing money for outside investors and convert his once...



Ackman Signals Support For Canadian Pacific Merger

Pershing Square’s Bill Ackman said that some combinations of railroad mergers would make sense, though he didn’t directly address Canadian Pacific reported approach to CSXWhile he wouldn’t directly address reports that Canadian Pacific...



Carl Icahn Lost $200 Million On Netflix Over Night

Carl Icahn is has lost $200 million on Netflix stock since Wednesday, when the company's stock plunged 27% in after hour trading. It all fell apart when Netflix reported lower than expected subscriber growth than expected in its 4th quarter...



Most Americans Don’t Know It, But Their Odds of Getting Laid Off Have Never Been Lower

This morning the Department of Labor reported that initial weekly jobless claims fell to 264,000. That’s the smallest number of people filing a jobless claim since April 2000. But thanks to population growth, the U.S. labor force is larger now...



How Can Tiny Norway Afford to Buy So Many Teslas? Full Transcript

This is a transcript of the Freakonomics Radio podcast “How Can Tiny Norway Afford to Buy So Many Teslas?” [MUSIC: “Ja, vi elsker dette landet” (Norwegian National Anthem)] Stephen J. DUBNER: As you likely know, the...



Let Us Now Praise Placebos

Placebos are fascinating things. They shouldn't work, but they do. And it's not just pills, either. In certain cases, it turns out, fake knee surgery can relieve pain just as effectively as real knee surgery. Austin Frakt writes about the...



Todd Sullivan Discusses Value Investing On the Radio

Todd Sullivan On the Radio by Todd Sullivan, ValuePlays Sorry, I thought this post went out earlier, clearly it did not…. Gonna do a radio bit tonight that offers a call in feature….feel free to ask some Q’s Todd Sullivan...



It Doesn't Matter That Oil Is Priced in Dollars

Morning Edition committed one of the seven deadly sins of economic reporting when it told listeners that Europe is hurt and we are helped because oil is priced in dollars and the dollar is rising. (The biggest sin is reporting large budget numbers...



'Regret and Economic Decision-Making'

Here are the conclusions to Regret and economic decision-making: Conclusions We are clearly a long way from fully understanding how people behave in dynamic contexts. But our experimental data and that of earlier studies (Lohrenz 2007) suggest that...



Netflix, Inc. (NFLX) Stock Down More Than 25% In Premarket

Netflix getting hammered in premarket trading Thursday due to apoor earnings reportShares of video streaming giant Netflix, Inc. (NASDAQ:NFLX) are down over 25% in premarket trading on Thursday, October 16th. The downdraft in the stock comes on the heels...



Entegris Inc (ENTG), Dicerna Pharmaceuticals Inc (DRNA): GMT Capital and Deerfield Management Report Their Latest Moves

In two new filings, Thomas E. Claugus‘ GMT Capital disclosed further raising its exposure to Entegris Inc (NASDAQ:ENTG). The investor revealed buying 148,300 shares on October 6 at a price of $11.66 apiece and 164,700 shares on...



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David Einhorn Pitched SunEdison At A Conference And The Stock's Going Gangbusters

Billionaire hedge fund manager David Einhorn, who runs Greenlight Capital, pitched SunEdison as a long at the Robin Hood Investors Conference, according to a source who's present. The semi-conductor's stock has jumped about...



iPhone Couldn’t Save September’s Disappointing Retail Numbers

Sales at electronics and appliance stores in September posted their largest monthly gain since April 2013, with sales rising 3.4%, the Commerce Department reported on Wednesday. A customer holds an iPhone 6 on display at the Fifth Avenue Apple...



Fed's Dudley: Bad Bank Behavior Could Drive Break Up

Federal Reserve Bank of New York President William Dudley said the government will have to consider breaking up large financial institutions if Wall Street doesn’t stop excessive risk-taking and breaking the...



Was the Alibaba Group Holding Ltd (BABA) IPO the Day the Wall Street Bull Died?

Alibaba Group Holding Ltd (NYSE:BABA)’s IPO may go down in history for more than just its record-setting debut; it may also be remembered in the annals of history as the day the Wall Street bull died after a glorious five-year run following the...



McDonald's Vows Fresh Thinking After Revenues Decline 30%; Mish Offers Some Advice

A 30% decline in revenues for McDonald's is quite startling to most. I wonder why such a decline took so long.In response to that pathetic performance, McDonald’s Vows Fresh Thinking. McDonald’s Corp. outlined plans for what it called...



JPMorgan hackers said to probe 13 other financial firms

The hackers who raided the data banks of JPMorgan Chase & Co. used computers now linked to possible attacks on at least 13 more financial companies, according to a person familiar with the investigation. Former Homeland Security Secretary Michael...



Judge holds Argentina in contempt over bond orders

The judge ruled the country's refusal to pay U.S. bondholders was illegal...



EU Regulators May Soon Shine More Light on Apple’s Irish Tax Deals

GEORGES GOBET/AFP/Getty Images The long running controversy over the legality of Apple’s tax practices in Ireland may soon be settled. According to insider sources cited by The Wall Street Journal, the European Commission will soon release the...



Stocks could fall another 50 percent or more (1353779)

Do stocks have much further to fall? The Wall Street Journal's Brett Arends asks that question. Despite Friday's boomlet, the Dow Jones Industrial Average still closed the week down 1%, and the broader S&P 500-stock index ended also down...



A $6 Billion Investment Firm Is Reportedly Shutting Down

A $6 billion fund  is closing its doors by 2015. Relational Investment, LLC is planning to shut down and liquidate its current funds after its co-founder, Ralph Whitworth, found out that his throat cancer has...



Second Dallas Ebola Patient Took Commercial Flight; CDC To Track Passengers

Ebola crisis ramps up as second Dallas Ebola patient took commercial airline flightThe U.S. Centers for Disease Control confirmed on Wednesday that a second Dallas health-care worker has tested positive for Ebola. The CDC is also asking asking 132...



Dimon Calls for Help on Cyberattacks

In his first public comments since the summer breach, the JPMorgan chief executive tells a conference: "This is going to be a big deal and there will be a lot of...



Fantex May Sell Movie Star Investments; Professionals Skeptical

Primary focus of investment in celebrities is retail investors, which could bread overly "aggressive brand advocates" Want to purchase the right’s to a celebrities future success?  Fantex, the exchange method that allows investors to...



European Hedge Fund Giant BlueCrest Laid Off A Bunch Of U.S. Traders And It's Spinning Off Its Biggest Fund

There was some speculation among trader that this week's market weakness might be attributed to a hedge fund liquidating. While it remains unclear if this is the case, there's some pretty big news out today on European hedge fund behemoth...



Freddie Mac And Fannie Mae Face Reality Check After Court Ruling

Freddie Mac (FMCC) and Fannie Mae (FNMA) are being sued for breach of contract for allegedly not paying promised dividends and liquidation preferences to investors. These claims were...



You can’t even spell “capitulation”

People are starting to freak out a little. A massive amount of individual stocks have dropped more than 20 percent from their 52-week highs this fall and this is beginning to dawn on folks. The bullshittiness of the S&P 500’s...



That Two Percent Inflation Target and Silly Things Economists Say

I see Paul Krugman has picked up on my friend Jared Bernstein's post asking where the Fed's 2.0 percent inflation target came from. He argues that it is a pretty much arbitrary compromise between the idea that the target should be zero (the...



Facing Rival Bid, Fyffes Sweetens Offer for Chiquita in Merger Deal

Fyffes sweetens offer for Chiquita to try and fight off Brazilian groupIn a not entirely surprising announcement made on Friday, September 26th, Chiquita Brands International Inc (NYSE:CQB) and Fyffes (LON:FFY) (OTCMKTS:FYFFF) of Ireland said...