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House Republicans Pass Bill to Lower Taxes on the Rich and Raise Taxes on the Poor

So what are Republicans in the House of Representatives up to these days? According to Danny Vinik, they just passed a bill that would reduce taxes on the rich and raise them on the poor. I know, I know: you're shocked. But in a way, I think this...



Tech Today: Zillow Buys Trulia, Apple Bitcoin App Back, New iPhone Leaks, JNPR Upgrade

Here are some things going on today in your world of tech: Shares of Zillow (Z) are falling more than 5% after the online real estate company announced it is buying rival Trulia (TRLA) for $3.5 billion in stock, which jumped on...



Richard Branson Strikes Again: Virgin America Files for IPO

Richard Branson is coming to America yet again. Branson’s Virgin Group Ltd. has filed its paperwork with the U.S. Securities and Exchange Commission (SEC) for its Virgin America Inc. to...



Ex Yukos Shareholders Win $50B Landmark Case Against Russia

The $50 billion in damages against Russia is one of the biggest arbitration awards ever made against a sovereign stateThe Hague’s arbitration court ruled Monday that Russia owes former shareholders of the now-defunct oil giant Yukos over $50...



Hot Links: Possibly Imminent

Stuff I’m Reading this Morning… Family Dollar to be bought by Dollar Tree in $8.5 billion merger – another big win for Icahn.  (ValueWalk) Andy Thrasher’s weekly technical rundown is a great place to start on...



Hospira Said To Be in $5 Billion Inversion Deal with Danone

The Danone deal could be the biggest acquisition in Hospira’s history and would enable the company to move its domicile abroad for tax purposesIllinois-based Hospira, Inc. (NYSE:HSP) is said to be in talks with Danone SA (ADR) (OTCMKTS:DANOY)...



Reconciling Seemingly Contradictory Climate Claims

At Real Science, Steven Goddard claims this is the coolest summer on record in the US. The NOAA reports that both May and June were the hottest on record. It used to be the the media would reconcile such claims and one might learn something...



Inflation Hawks Have Been Wrong for Years. Should We Listen to Them Now?

Richard Fisher, the president of the Dallas Federal Reserve, has an op-ed in Monday’s Wall Street Journal warning that the Fed’s current policy risks sparking high inflation....



Deciding Not to Decide on Providing Intel to Ukraine: The Negation of Presidential Leadership

The NYT ran a long article yesterday describing the administration’s Hamlet-like agonizing over whether to provide Ukraine with real time intelligence useful for targeting rebel forces. (For the record, I called for this in the immediate...



Fox's Invitation to Time Warner

21st Century Fox is prepared to offer shareholders of Time Warner board representation as part of its bid to acquire the media company, according to a person familiar with the...



Reality Check for Forecasting

I’d say this is a pretty compelling argument for trend following.  As shown below, the average strategist forecast for the S&P 500 is routinely way off. Source: WSJ Rather than even attempt to forecast the unknowable, trend...



Links for 7-27-14

Moore of the Same - Paul Krugman Financial stability and monetary policy - vox The continuum from monetary to fiscal - Nick Rowe On State Unemployment Rates, It’s Analyst Beware - NYTimes.com North Carolina’s Misunderstood Cut in Jobless...



Morning Must-Read: Ricardo Hausmann: The Real Raw Material of Wealth

Ricardo Hausmann: The Real Raw Material of Wealth: "Poor countries export... materials such as cocoa, iron ore, and raw diamonds... ...Rich countries export--often to those same poor countries... chocolate, cars, and jewels.... Some ideas are...



Storm Clouds Over Amazon Business

New and deep-pocketed rivals threaten to squeeze profit margins in Amazon.com's cloud computing business, adding to investor concerns about the Seattle company's...



The End of the Cringe



There's A Big Warning About Acquisitions In David Einhorn's Latest Investor Letter

Greenlight Capital CEO David Einhorn sent out his Q2 investor letter this week, and the big takeaway is about how low interest rates are impacting corporate acquisitions. In a nutshell: Low interest rates are transforming acquirers into bad shoppers. In...



Chart o’ the Day: Diversification Works

Michael Batnick and I submitted the below to Business Insider’s Most Important Charts in the World roundup…   Check out the entire run of charts at the link below: Wall Street’s Brightest Minds Reveal The Most...



Mark Cuban Advocates Selling Shares of Tax-Dodging U.S. Companies

Mark Cuban, the billionaire investor and owner of the Dallas Mavericks basketball team, took to Twitter on Friday to rail against companies that adopt overseas addresses to avoid paying U.S. taxes. He urged investors to sell shares of those...



Mystery Stock CYNK Plunges as Expected After Trading Reopens

Filed under: Alternative Investment, Investment Fraud, Stocks, Investing Alamy By Everett Rosenfeld CYNK Technology (CYNK), the mysterious over-the-counter stock that at one point broke a $6 billion market cap, dropped roughly 80 percent in its...



Fed Accepts Zion Capital Plans, Details Not Disclosed

Zions will likely have to raise $300 million or more in common equity, in addition to selling CDOsZions Bancorporation (NASDAQ:ZION) is up 1.8% in trading today after the Federal Reserve announced that it had accepted the bank’s re-submitted...



Gruber: "It Was Just a Mistake"

Why did Jonathan Gruber tell an audience in 2012 that states which failed to set up Obamacare exchanges would be depriving their residents of federal subsidies? Jonathan Cohn caught up with Gruber this morning and got an answer: I honestly...



Panic, Prosperity, and Progress: Five Centuries of History and the Markets

Book Review: Panic, Prosperity, and Progress by David Merkel, CFA of The Aleph Blog I love economic history books, and I believe that most investors should read economic history.  History offers a broader paradigm for analyzing investment situations...



Mark Zuckerberg Is Now Richer Than the Google Guys

How's your summer going? Probably not as good as Mark Zuckerberg's. The Facebook CEO and cofounder's wealth has spiked in recent months as the company's stock price continues to reach new highs. On Thursday, he reached another...



Some Home Builders Say First-Time Buyers Returning, Others Not Sure

The anticipated return of first-time buyers to the housing market remains, like many economic indicators, prone to fits and starts. This week, two more leading home builders differed on whether first-timers are on their way back. PulteGroup Inc. stirred...



Sheila Bair is worried about reverse repo

Like much of her commentary, I find this considerably overstated.  Still, it suggests a few points of interest and also concern: The mere existence of this facility could exacerbate liquidity runs during times of market stress. Borrowers in the...



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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’...



Tech Today: Zillow Buys Trulia, Apple Bitcoin App Back, New iPhone Leaks, JNPR Upgrade

Here are some things going on today in your world of tech: Shares of Zillow (Z) are falling more than 5% after the online real estate company announced it is buying rival Trulia (TRLA) for $3.5 billion in stock, which jumped on...



Richard Branson Strikes Again: Virgin America Files for IPO

Richard Branson is coming to America yet again. Branson’s Virgin Group Ltd. has filed its paperwork with the U.S. Securities and Exchange Commission (SEC) for its Virgin America Inc. to...



Ex Yukos Shareholders Win $50B Landmark Case Against Russia

The $50 billion in damages against Russia is one of the biggest arbitration awards ever made against a sovereign stateThe Hague’s arbitration court ruled Monday that Russia owes former shareholders of the now-defunct oil giant Yukos over $50...



Reality Check for Forecasting

I’d say this is a pretty compelling argument for trend following.  As shown below, the average strategist forecast for the S&P 500 is routinely way off. Source: WSJ Rather than even attempt to forecast the unknowable, trend...



Inflation Hawks Have Been Wrong for Years. Should We Listen to Them Now?

Richard Fisher, the president of the Dallas Federal Reserve, has an op-ed in Monday’s Wall Street Journal warning that the Fed’s current policy risks sparking high inflation....



Hot Links: Possibly Imminent

Stuff I’m Reading this Morning… Family Dollar to be bought by Dollar Tree in $8.5 billion merger – another big win for Icahn.  (ValueWalk) Andy Thrasher’s weekly technical rundown is a great place to start on...



Novartis Jumps Onboard Google’s Smart Contact Lens Project

Source: Thinkstock Diabetics may be able to track their blood sugar using contact lenses in the next few years thanks to Google’s (NASDAQ:GOOG)(NASDAQ:GOOGL) newest deal. Google’s smart contact lens project is getting a boost from a new...



Hospira Said To Be in $5 Billion Inversion Deal with Danone

The Danone deal could be the biggest acquisition in Hospira’s history and would enable the company to move its domicile abroad for tax purposesIllinois-based Hospira, Inc. (NYSE:HSP) is said to be in talks with Danone SA (ADR) (OTCMKTS:DANOY)...



Fox's Invitation to Time Warner

21st Century Fox is prepared to offer shareholders of Time Warner board representation as part of its bid to acquire the media company, according to a person familiar with the...



The Switchboard: Amazon speaks out about Hachette fight

Published every weekday, the Switchboard highlights five tech policy stories you need to read. Amazon Defends Its Stance Against Hachette Jeffrey Trachtenberg of the Wall Street Journal reports, "Russ Grandinetti, Amazon's senior vice...



Deciding Not to Decide on Providing Intel to Ukraine: The Negation of Presidential Leadership

The NYT ran a long article yesterday describing the administration’s Hamlet-like agonizing over whether to provide Ukraine with real time intelligence useful for targeting rebel forces. (For the record, I called for this in the immediate...



The Daily Docket: Gowex Enters Bankruptcy

People walk past a kiosk with an advertisement for Wi-Fi provider Gowex in Madrid on July 3. Gowex on Sunday said it had filed for bankruptcy protection. Agence France-Presse/Getty Images Spanish technology firm Gowex SA said it filed for bankruptcy...



Hedge Fund News: Stanley Druckenmiller, John Paulson & Starboard Value LP

Some Top Money Managers Push for Fed to Start Raising Interest Rates (NYTimes) The Fed is out of step with Wall Street, say some of the country’s wealthiest investors. If there was one thing that hedge fund managers kept coming back to time and...



House Republicans Pass Bill to Lower Taxes on the Rich and Raise Taxes on the Poor

So what are Republicans in the House of Representatives up to these days? According to Danny Vinik, they just passed a bill that would reduce taxes on the rich and raise them on the poor. I know, I know: you're shocked. But in a way, I think this...



Billionaire Google CEO: You Should Be Grateful For That Part-Time Job

The man who made billions at his full-time job running Google thinks you should stop worrying so much about losing your own full-time job to the robots that his company is building. Google CEO Larry Page said last week that one possible answer to the...

Watch the Video > Post includes YouTube video


Hedge Fund Highlights: Carl Icahn, John Paulson & Sprott Asset Management

Icahn and Ackman Publicly End Feud With an Embrace (New York Times) A dispute between two billionaire investors, Carl C. Icahn and William A. Ackman, ended with a phone call a few weeks ago and, on Wednesday, a public embrace. Mr....



Reconciling Seemingly Contradictory Climate Claims

At Real Science, Steven Goddard claims this is the coolest summer on record in the US. The NOAA reports that both May and June were the hottest on record. It used to be the the media would reconcile such claims and one might learn something...



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...