May 18, 2013, 1:08 am
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Too Much Talk About Liquidity - Paul Krugman The Real Scandal and Systemic Abuse of Power - Robert Reich What's the Variance of a Sample Variance? - Dave Giles What Rational Really Means - Scientific American A Defense of the Financial Sector...
Where are the Financial Geniuses?
Research Affiliates says firms seeking to find patterns of mispricing must encourage the critical evaluation of nonconformist...
SAC Capital Tells Investors It's Done Playing Nice With The Government
In a letter to investors, SAC Capital said that it would no longer cooperate with the government unconditionally regarding an ongoing investigation into its trading activity, says the NYT. In short — Steve Cohen's firm is done playing nice...
Spanish Banker Goes to Prison
Miguel Blesa, the former executive chairman of Caja Madrid, is accused of leaving his bank saddled with huge losses because of the takeover of a bank based in...
Jamie Dimon needs a boss
Jamie Dimon is wagging his finger from newstands across America this week, above the kind of headline his PR team can only dream of: “DIMON IS FOREVER: Why Jamie Dimon is Wall Street’s Indispensable Man”. The story itself,...
Link exchange
TODAY'S recommended economics writing:• No benefit to financial stability from tighter policy (Real Time Economics)• A recovery for the rest of us (Modeled Behavior)• The persistent supply-side constraints in US housing...
Facebook Mobile Much Improved: Experts
It was making nothing on mobile a year ago but raked in $375 million in the first quarter, experts told...
Air Force Expects iPad Deployment to Save $50 Million Over 10 Years
The U.S. Air Force is expecting to save a serious amount of cash as a result of deploying 18,000 iPads. With the iPads brought in to replace heavy, paper-bound flight manuals, a spokesman for the Air Force's Air Mobility Command has said that the...
Health Care and Prices
Kevin Drum is lauding the transparency an Oregon health insurance exchange which was initiated some apparently welcome price competition into a market for now standardized products. My response was this: I applaud any effort by this Administration...
NVIDIA pushes up Shield public pre-order date, lets you hop in queue today
NVIDIA newsletter subscribers have been able to pre-order the Shield handheld console for several days now, but the rest of us were due to wait until after the weekend. Considering that $349 price tag, we're not entirely sure we want to commit...
Scary: Obama uses the power of the federal government to destroy his political opponents
These audits just didn't represent the costs of lawyers' fees and delayed refunds, but also all of the time and emotional drain that was spent personally dealing with the audits. From Kimberly Strassel in the WSJ:. . . Mr....
J.&J. Is Phasing Out Metal Replacement Hips
Johnson & Johnson faces a wave of lawsuits from patients who say they were injured when all-metal implants sold by the company...
Is It Time to Worry About Low Inflation?
Lackluster inflation in the U.S. and Europe has some worried about countries running the risk of deflation. As companies are unable to increase prices for fear of losing customers, the price of goods and services has only inched up 1.7 percent over the...
in which Downtown Josh Brown destroys the 1999 comparison
I'll be brief here because I don't have a lot of time for nonsense. I have a few major projects in the works and actual portfolios to manage for people, not theoretical or virtual ones. Okay - so the 1999 comparisons have begun to surface....
Is Apple Losing This Huge Market to BlackBerry and Samsung?
Is the Indian market slipping through Apple’s (NASDAQ:AAPL) fingers? According to analyst Trip Chowdhry of Global Equities Research, Apple is indeed losing the hearts and minds of India’s consumers due to a combination of several factors. One...
Bill Gates Is World's Richest Man Once Again
Thanks to a recent stock surge, Microsoft co-founder Bill Gates is once again the world's richest man, a title he hasn't held since 2007, according to Bloomberg. Gates' fortune is now worth $72.1 billion, according to Bloomberg, putting...
She Had Just the Resume They Were Looking For
Via ABC The Internal Revenue Service official in charge of the tax-exempt organizations at the time when the unit targeted tea party groups now runs the IRS office responsible for the health care legislation. Sarah Hall Ingram served as commissioner of...
Fed Watch: Busy Data Day
On Thursday's data: Busy Data Day, by Tim Duy: Something of a busy data day. Not all of it pleasant, but I suspect that the Fed will attempt to see through that unpleasantness. Start with the surprise jump in initial unemployment...
House To Vote On Obamacare Repeal.. Again
The House of Representatives is holding another vote to repeal Obamacare Thursday afternoon. The decision to hold a vote to repeal Obamacare -- which has already been done 37 times -- was made by Republican leaders looking to appease freshman GOP...
Just How Useless Is the Asset-Management Industry?
Writing under a pseudonym in the Financial Analysts Journal in 1960, mutual fund executive Jack Bogle made "The Case for Mutual Fund Management." Bogle took the track records of four leading mutual funds going back to 1930 and compared them to...
Google's Blink team pulls 8.8 million lines of WebKit code in one month
Google let us all know that it would strip out unneeded WebKit code to make its Blink web engine scream, but it never said exactly what kind of pace we could expect. The answer, it turns out, is "breakneck." The company's Alex Komoroske...
Krugman vs. Sandwichman: "The economics of full employment is not rocket science. It's the politics, stupid."
At his blog today, Paul Krugman cited Michael Kalecki's 1943 essay, "Political Aspects of Full Employment": Two and a half years ago Mike Konczal reminded us of a classic 1943 (!) essay by Michal Kalecki, who suggested...
S&P Cuts Berkshire Hathaway Inc. Rating
Credit rating agency Standard and Poor’s cut its rating for Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) by one notch from AA+ to AA on Thursday. S&P said that the downgrade was due to the diversified business conglomerate heavy...
BP Ex-CEO Is Interim Chair at Mining Giant
Mining and commodities trading giant Glencore Xstrata said it has appointed former BP Chief Executive Tony Hayward as its interim chairman until a permanent candidate can be...
Royal Bank of Scotland to cut 1,400 jobs in UK
DUBLIN (Reuters) - Royal Bank of Scotland will cut 1,400 jobs over the next two years in a restructuring of its retail head office in Britain, the part-nationalized bank said on Thursday. ...
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Is Apple Losing This Huge Market to BlackBerry and Samsung?
Is the Indian market slipping through Apple’s (NASDAQ:AAPL) fingers? According to analyst Trip Chowdhry of Global Equities Research, Apple is indeed losing the hearts and minds of India’s consumers due to a combination of several factors. One...
Air Force Expects iPad Deployment to Save $50 Million Over 10 Years
The U.S. Air Force is expecting to save a serious amount of cash as a result of deploying 18,000 iPads. With the iPads brought in to replace heavy, paper-bound flight manuals, a spokesman for the Air Force's Air Mobility Command has said that the...
NVIDIA pushes up Shield public pre-order date, lets you hop in queue today
NVIDIA newsletter subscribers have been able to pre-order the Shield handheld console for several days now, but the rest of us were due to wait until after the weekend. Considering that $349 price tag, we're not entirely sure we want to commit...
Bill Gates Is World's Richest Man Once Again
Thanks to a recent stock surge, Microsoft co-founder Bill Gates is once again the world's richest man, a title he hasn't held since 2007, according to Bloomberg. Gates' fortune is now worth $72.1 billion, according to Bloomberg, putting...
Where are the Financial Geniuses?
Research Affiliates says firms seeking to find patterns of mispricing must encourage the critical evaluation of nonconformist...
Link exchange
TODAY'S recommended economics writing:• No benefit to financial stability from tighter policy (Real Time Economics)• A recovery for the rest of us (Modeled Behavior)• The persistent supply-side constraints in US housing...
J.&J. Is Phasing Out Metal Replacement Hips
Johnson & Johnson faces a wave of lawsuits from patients who say they were injured when all-metal implants sold by the company...
SAC Capital Tells Investors It's Done Playing Nice With The Government
In a letter to investors, SAC Capital said that it would no longer cooperate with the government unconditionally regarding an ongoing investigation into its trading activity, says the NYT. In short — Steve Cohen's firm is done playing nice...
Scary: Obama uses the power of the federal government to destroy his political opponents
These audits just didn't represent the costs of lawyers' fees and delayed refunds, but also all of the time and emotional drain that was spent personally dealing with the audits. From Kimberly Strassel in the WSJ:. . . Mr....
Facebook Mobile Much Improved: Experts
It was making nothing on mobile a year ago but raked in $375 million in the first quarter, experts told...
in which Downtown Josh Brown destroys the 1999 comparison
I'll be brief here because I don't have a lot of time for nonsense. I have a few major projects in the works and actual portfolios to manage for people, not theoretical or virtual ones. Okay - so the 1999 comparisons have begun to surface....
Is It Time to Worry About Low Inflation?
Lackluster inflation in the U.S. and Europe has some worried about countries running the risk of deflation. As companies are unable to increase prices for fear of losing customers, the price of goods and services has only inched up 1.7 percent over the...
Health Care and Prices
Kevin Drum is lauding the transparency an Oregon health insurance exchange which was initiated some apparently welcome price competition into a market for now standardized products. My response was this: I applaud any effort by this Administration...
Just How Useless Is the Asset-Management Industry?
Writing under a pseudonym in the Financial Analysts Journal in 1960, mutual fund executive Jack Bogle made "The Case for Mutual Fund Management." Bogle took the track records of four leading mutual funds going back to 1930 and compared them to...
Spanish Banker Goes to Prison
Miguel Blesa, the former executive chairman of Caja Madrid, is accused of leaving his bank saddled with huge losses because of the takeover of a bank based in...
Jamie Dimon needs a boss
Jamie Dimon is wagging his finger from newstands across America this week, above the kind of headline his PR team can only dream of: “DIMON IS FOREVER: Why Jamie Dimon is Wall Street’s Indispensable Man”. The story itself,...
Bizarro World
(1) Hedge fund manager supports minting of the trillion dollar coin (I think he’s advocating two of them or more). (2) The IRS should be abolished. (3) Homeland Security clamping down on Bitcoin. This, like the Health Care Law, is yet another...
She Had Just the Resume They Were Looking For
Via ABC The Internal Revenue Service official in charge of the tax-exempt organizations at the time when the unit targeted tea party groups now runs the IRS office responsible for the health care legislation. Sarah Hall Ingram served as commissioner of...
Royal Bank of Scotland to cut 1,400 jobs in UK
DUBLIN (Reuters) - Royal Bank of Scotland will cut 1,400 jobs over the next two years in a restructuring of its retail head office in Britain, the part-nationalized bank said on Thursday. ...
Fed Maps Exit From Stimulus
Fed officials have mapped out a strategy for winding down an unprecedented $85 billion-a-month bond-buying program meant to spur the economy—an effort to preserve flexibility and manage highly unpredictable market...