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General Motors Recalls 700,000+ More Vehicles

Shares of GM slumped by less than 1% in afternoon tradingIt seems General Motors Company (NYSE:GM) just can’t get past all the recalls. Today the automaker has announced six more recalls covering almost 718,000 vehicles in the U.S. Details on...



Chart of the Day: Oil Is Getting Harder and Harder to Find

Oil expert James Hamilton has an interesting summary of the current world oil market up today, and it's worth a read. His bottom line, however, is that $100-per-barrel oil is here to stay: The run-up of oil prices over the last decade resulted...



Understanding Insurance Float

Warren Buffett has made such an impression on value investors and insurance investors, that they think that float is magic.  Write insurance, gain float, invest cleverly against the float, and make tons of money.Now, the insurance industry in...



Another False Alarm on US Inflation

Gavyn Davies: Another false alarm on US inflation?, by Gavyn Davies: There have been a few false alarms about a possible upsurge in inflation in the US in the past few years... There is an entrenched belief among some observers that the huge rise in...



Halbig said it was applying the law as written. Don’t believe it.

In the Wall Street Journal this morning, Jonathan Adler and Michael Cannon, the two principal architects of the exchange litigation, have an op-ed about Halbig and King. They write that “[t]he president’s defenders often concede that he is...



SQL injection flaw in Wall Street Journal database led to breach

A vulnerability in a web-based graphics system led to a breach of The Wall Street Journal’s network by a hacker, the newspaper acknowledged late Tuesday.The system was taken offline, and the intrusion did not affect customers or customers’...



Cutting the Millennials Some Slack

On the surface, this looks and sounds like some incredibly stupid investor behavior… via Business Insider: According to a new survey by Bankrate.com, millennials are uncomfortable with choosing the stock market as their preferred...



Whitney Tilson now 12 percentage points more confident in Herbalife short

Judging by the share price reaction to his Herbalife presentation, Bill Ackman delivered a “death blow” not to the company but to many investors who followed him in shorting the stock. Not so Whitney Tilson, Buffett-watcher, value...



The Conservative Ruling Against Obamacare Is Legally Laughable

Yesterday saw the release of two conflicting court decisions that may decide the future of the Affordable Care Act. Both decisions, from the D.C. and Fourth Circuit federal courts of appeals,...



Renaissance Defends ‘Barrier Options’ In Front Of US Senate

Renaissance argues that barrier options met a strategic goal independent of tax benefitsThe US Senate Permanent Subcommittee on Investigations called Peter F. Brown, Co-Chief Executive Officer and Co-President of Jim Simons’ Renaissance...



Links for 7-23-14

Debt Disaster Dead-Enders - Paul Krugman Is economics jargon distortionary? - mainly macro A Dearth of Investment in Much-Needed Drugs - NYT Geography Matters Even if it Doesn’t - Growth Economics America’s economy: Jobs are not enough - The...



David Winters Vindicated As Coke Earnings, Growth Flat?

The hedge fund manager was critical of Coke's executive compensation program, saying management was being rewarded like they were a growth stockDavid Winters, CEO of hedge fund Wintergreen Advisers, was handed a moral victory after his battle to...



INFOGRAPHIC: Facebook Continues Social-Login Dominance in 2Q

Facebook continued to dominate social logins in the second quarter of 2014, accounting for 55 percent of overall social logins and 64 percent of social logins from mobile devices, according to the latest figures from Preferred Marketing...



Ackman walks back on firing claim

Analyst Tim Ramey said assertions made by Bill Ackman during Tuesday's presentation are untrue, and Ackman is correcting the...



"Will Automation Take Our Jobs?"

For some reason, economists think it's a good idea to keep asking the same hackneyed question over and over again and give the same hackneyed answers."Will automation take our jobs?" is a perennial favorite. The answer, of course is...



MAGIC 7: Experts Close In on Optimal Night's Sleep...

MAGIC 7: Experts Close In on Optimal Night's Sleep...(Third column, 21st story, link) ...



EU Regulators To Go After Google Inc On A Number Of Fronts?

European Union officials seem poised to take a harder look at a proposed settlement with Google over search-engine practices that have Europeans fuming.Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) looks like it may become a whipping boy for Europe over the...



Vegans Rejoice: Meat Prices Rising More Than Fresh Fruits and Vegetables

It’s a good time to be a vegan. Meat prices are up 9.4% in June from a year earlier, and pork, fish and eggs are more expensive, too. Prices for the food Americans buy in grocery stores were flat in June and up 2.4% from a year ago, the Labor...



Links for 7-22-14

An Imaginary Budget and Debt Crisis - Paul Krugman Long-term damage of the US court’s Argentinian debt ruling - vox More on Step-(Un)Wise Regression and Pre-Testing - Dave Giles The Inflation Truther Crank Index - Bloomberg View GDP Growth: Will...



McDonald's Expects More Challenges

McDonald's is trying to fix the fundamentals of its business as the fast-food company plans for more weakness this...



This Shamefully Dishonest Obamacare Ruling Could Blow Up in the GOP's Face

The case of Halbig v. Burwell (formerly Halbig v. Sebelius), in which plaintiffs are attempting to void Affordable Care Act subsidies in states that didn't set up their own healthcare exchanges, was and remains a fundamentally dishonest solicitation...



Hedge Fund News: Larry Robbins, Ken Griffin & Winton Capital Management

Hedge fund manager Winton Capital making headway with long-only strategy (PIOnline) North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder’s goal of becoming a $100...



Appeals court: Obamacare subsidies illegal

A top federal appeals court threw out its IRS regulation that implements key Obamacare health insurance...



CIT to Buy OneWest for $3.4 Billion

The CIT Group, the lender to small and midsize businesses run by John A. Thain, has agreed to acquire the parent company of OneWest Bank for $3.4 billion in cash and...



Food chains dragged into food scandal



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Food chains dragged into food scandal

A food scandal in China is spreading, dragging in Starbucks, Burger King and others, as well as McDonald's products from...



Berkshire Hathaway, Liberty Mutual And Asbestos

Berkshire Hathaway, Liberty Mutual And Asbestos by David Merkel, CFA of The Aleph Blog Recently, a friend of mine from Canada came to stay with me.  We talked about a wide number of things, but when we talked about investing, I described insurance...



The media completely misleading about real economy: Full-time jobs falling, part-time service sector jobs up

The media talks about what a great jobs report came out today.  Take CNN's headline: "Great jobs report: Strong hiring, unemployment down"The U.S. economy added 288,000 jobs in June, the Bureau of Labor Statistics reported...



China’s Latest Food Scandal Highlights Weak Regulatory Environment

An American owner of a Shanghai based meat supplier is scrambling to contain a scandal involving the sales of expired meat. So far it appears that many American restaurant chains in China are going to take a big hit. McDonald’s Corporation...



Links for 7-23-14

Debt Disaster Dead-Enders - Paul Krugman Is economics jargon distortionary? - mainly macro A Dearth of Investment in Much-Needed Drugs - NYT Geography Matters Even if it Doesn’t - Growth Economics America’s economy: Jobs are not enough - The...



Whitney Tilson now 12 percentage points more confident in Herbalife short

Judging by the share price reaction to his Herbalife presentation, Bill Ackman delivered a “death blow” not to the company but to many investors who followed him in shorting the stock. Not so Whitney Tilson, Buffett-watcher, value...



Hedge Fund News: Larry Robbins, Ken Griffin & Winton Capital Management

Hedge fund manager Winton Capital making headway with long-only strategy (PIOnline) North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder’s goal of becoming a $100...



Why Robot Journalism Is Great for Journalists

Robots Are Invading the News Business, and It’s Great for Journalists http://t.co/jgdNcdOfx1 via @sarawinge — O'Reilly Radar (@radar) July 14,...



SQL injection flaw in Wall Street Journal database led to breach

A vulnerability in a web-based graphics system led to a breach of The Wall Street Journal’s network by a hacker, the newspaper acknowledged late Tuesday.The system was taken offline, and the intrusion did not affect customers or customers’...



JP Morgan boss Jamie Dimon has throat cancer

Chief executive of JP Morgan says cancer has been caught at an early...



INFOGRAPHIC: Facebook Continues Social-Login Dominance in 2Q

Facebook continued to dominate social logins in the second quarter of 2014, accounting for 55 percent of overall social logins and 64 percent of social logins from mobile devices, according to the latest figures from Preferred Marketing...



Halbig said it was applying the law as written. Don’t believe it.

In the Wall Street Journal this morning, Jonathan Adler and Michael Cannon, the two principal architects of the exchange litigation, have an op-ed about Halbig and King. They write that “[t]he president’s defenders often concede that he is...



Everyone Loves Apple Once Again (AAPL)

Apple reports earnings on Tuesday, July 22. (Depending on when you read this, that might be tomorrow.) A lot has changed since Apple's last reported earnings at the end of April.  Apple split its stock 7-for-1.  Apple paid $3...



BNP to pay $9 billion fine, faces dollar-clearing ban

NEW YORK/WASHINGTON (Reuters) - French bank BNP Paribas on Monday agreed to pay almost $9 billion over charges it violated U.S. sanctions against countries such as Sudan, and faces a one-year suspension of parts of its U.S. dollar-clearing business. ...



What Your Chipotle Burrito Is Trying To Tell You About The Economy

Have you recently eaten a Chipotle burrito in front of the TV while binge-watching one of your shows on Netflix? Maybe? Probably? If so, then you, my sloppy TV friend, just might have the secret answer to the mystery of the future of America's...



Netflix Is Going To Start Selling Gift Cards In Stores

You may soon be able to get a Netflix subscription at your neighborhood grocery store. The streaming video service announced in a letter to investors Monday that it's going to start selling physical gift cards in "select stores" in the...



McDonald's Expects More Challenges

McDonald's is trying to fix the fundamentals of its business as the fast-food company plans for more weakness this...



David Winters Vindicated As Coke Earnings, Growth Flat?

The hedge fund manager was critical of Coke's executive compensation program, saying management was being rewarded like they were a growth stockDavid Winters, CEO of hedge fund Wintergreen Advisers, was handed a moral victory after his battle to...



'The Wage Growth Gap for Recent College Grads'

Via the SF Fed: The Wage Growth Gap for Recent College Grads, by Bart Hobijn and Leila Bengali, FRBSF Economic Letter: Starting wages of recent college graduates have essentially been flat since the onset of the Great Recession in 2007. Median weekly...



Ackman: Why Herbalife will collapse

Bill Ackman said Pershing Square's presentation of a Herbalife investigation will "expose incredible...