10 Thursday AM Reads

December 10, 2015 7:44am by

Markets seem to have no memory day-to-day. Luckily, I remembered to do our morning train reads:

• Hedge funds lick wounds after tough year (FT) see also Hedge Funds Leave U.S. Pensions With Little to Show for the Fees (Bloomberg)
• Jeremy Grantham: Give Me Only Good News! (GMO)
• If It Owns a Well or a Mine, It’s Probably in Trouble (NYT) see also The Appeal of Sustainable Investing (Morningstar)
• Google Ventures Owns Part of Several Unicorns, but the Biggest (and Trickiest) Is Uber (Re/code)
• Jason Zweig on the things Wall Street doesn’t want you to understand (Quartz)

Continues here

 

 

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Discussions found on the web:
    • VennData commented on Dec 10

      The GOP tag line is “We have given up on America.” That the GOP says it raises suspicion.

      Paul Ryan wants to change the GOP from gloom to a party of Hope.

      Ironies aside that admit every single niggling complaint about Obama was wrong. That would not be the party of Cheney.

      So the Republicans need to keep being gloom and doom.

      Sorry they missed the Obama rally.

    • intlacct commented on Dec 10

      No Venn. We looked at 60 years of failed immigration and assimilation in Europe and decided not to step in that puddle. You’ll thank us later.

    • rd commented on Dec 11

      North America, Australia, and a handful of other countries were built on immigration and assimilation of very diverse groups of multiple races and religions. It is a primary difference between these countries and most of Europe and Asia which are very focused on territorial roots of individual tribes.

      It is no accident that the only two major wars on this continent in the past 200 years were an internal squabble over slavery in the US and jockeying over the southern border with Spain/Mexico. Europe and Asia have major conflicts every couple of decades because of historic tribal animosities that go back centuries.

      You are American, Canadian etc. if you come here and decide to be one. However, many other countries in the world have very effective immunity systems that rebel at the thought of assimilating immigrants. If your great-great-grandparents weren’t farming some plot of land within 50 miles of where you are, you are not “from” there.

      The ability to assimilate immigrants is our primary tool for economic growth throughout the 21st century. Without that, we could very well follow the economic path of Japan or many parts of Europe. It is why I am bullish on the US stock market for the next 30+ years, even though I think it will hit a major air pocket in the near-future.

  3. John G commented on Dec 10

    Barry, thanks for today’s curated articles. They were among the best of all.

    On another note, are you ever going to post your returns. It can be annual or anything. Just please compare to the S&P and other Hedge Funds. Thanks,

    ~~~

    ADMIN: There are very explicit SEC / accounting rules as to how to show performance returns. The standards for reporting results is Global Investment Performance Standards (GIPS). They have very specific requirements, typically, 3 years performance for the model portfolios, averaged across every client. (See also DALBAR’S QAIC)

    RWM launched in Sept 2013, and the model portfolios were launched January 2015. RWM is probably 2 years away from uniform performance reporting

  7. VennData commented on Dec 10

    The new Interactive Brokers ad where the broad shows up to the fancy dinner saying to her dimwitted date, “Everybody’s selling!”

    Really? Then who’s buying what they’re selling?

    • intlacct commented on Dec 10

      Heh, if you posted your anti-right wing stuff in almost any country our latest crop of immigrants hailed from, you would have disappeared long ago, Venn.

      Wanna know how hard right parties come to power? The elites ignore the vox populi. I expect the winner of the Person of the Year soon to be departing for greener pastures.

    • Jojo commented on Dec 10

      Looks interesting. Good idea!

    • VennData commented on Dec 10

      Donald Trump rips ‘disgusting’ Josh Earnest for mocking hair

      ​”…Real-estate tycoon Donald Trump said Thursday that it was “disgusting” for the White House’s top spokesman to go after his hair while the US is facing such serious issues….”

      http://www.businessinsider.com/donald-trump-josh-earnest-fake-hair-2015-12

      Recall Mr Trump, Obama made fun of you at the Press Club dinner as he sent Special Forces to kill bin Laden.

      Democrats are capable of running the world, the economy and chewing gum, and combing.​

      Trump’s narrative, that you can’t make fun of him because there’s more important things to should be applied to him equally. Or not, if you just are ANGRY and full of HATE.

      Sorry you missed the Obama rally. You can be safe knowing that all the guys who kept you out are now saying:

      1) ARMAGEDDON once the Fed raises rates .25%

      2) ARMAGEDDON if the Fed doesn’t raise rates

      3) The Fed caused ARMAGEDDON with rates that were too low for too long meaning there’s too much investment as infrastructure cracks and the economy grows at a solid 2-3% adding two and a half million jobs a year.

      ARMAGEDDON

  11. VennData commented on Dec 10

    Donald Trump fires back at ‘disgusting’ White House for mocking his hair

    “…Real-estate tycoon Donald Trump said Thursday that it was “disgusting” for the White House’s top spokesman to go after his hair while the US is facing such serious issues….”

    http://www.businessinsider.com/donald-trump-josh-earnest-fake-hair-2015-12

    Don, Recall Obama made fun of you at the Press Club dinner as he sent Special Forces to kill bin Laden.

    Democrats are capable of running the world, the economy and chewing gum, and combing.

    • willid3 commented on Dec 10

      or drive a tank to protect my self and others.
      plus you cant forget just how helpful it is to have your own flame thrower of cannons.

  14. theexpertisin commented on Dec 10

    There are treatments for folks who suffer from bi-polar rants.

  15. Jojo commented on Dec 10

    Skinny jeans wearing warmongers are just chickenhawks at heart.
    =============
    Millennials Want To Send Troops To Fight ISIS, But Don’t Want To Serve
    Updated December 10, 201512:05 PM ET
    Asma Khalid

    In the wake of the Paris attacks, a majority of young Americans support sending U.S. ground troops to fight ISIS, according to a wide-ranging new poll from the Harvard Institute of Politics.

    The institute has asked millennials about the idea of American boots on the ground at three different times this year, and the survey results have fluctuated somewhat, but there seems to be a “hardening of support.”

    In this most recent survey, 60 percent of the 18- to 29-year-olds polled say they support committing U.S. combat troops to fight ISIS. But an almost equal number (62 percent) say they wouldn’t want to personally join the fight, even if the U.S. needed additional troops.

    ….

    http://www.npr.org/2015/12/10/459111960/millennials-want-to-send-troops-to-fight-isis-but-not-serve

  18. Jojo commented on Dec 10

    Half of all renters can’t afford the rent
    by Kathryn Vasel
    December 9, 2015

    Nearly half of renters in the U.S. are struggling to afford their monthly payments.

    Experts generally recommend keeping your housing costs around 30% of your monthly income. But the number of “cost-burdened” tenants — those who spend more than 30% of their income on rent — rose to 21.3 million people last year, according to Harvard’s Joint Center for Housing Studies.

    Of those, more than 26% are “severely cost burdened” and spend more than half of their income to cover rent.

    …

    http://money.cnn.com/2015/12/09/real_estate/renters-cant-afford-rent/index.html

  21. RW commented on Dec 10

    Disruption theory is bottom up and/or germinal, originating in low-end and/or new-market footholds: Large, established companies like Apple with ongoing businesses or companies like Uber penetrating an established market can certainly be disruptive in the everyday sense, shaking the tree as it were, but the theory actually doesn’t have much to say about them.

    Beyond Disruption
    I share Professor Clayton Christensen’s consternation about the overuse of the term “disruption.” In this month’s issue of the Harvard Business Review, Christensen and his co-authors Michael Raynor and Rory McDonald write:

    Disruption theory is in danger of becoming a victim of its own success. Despite broad dissemination, the theory’s core concepts have been widely misunderstood and its basic tenets frequently misapplied…

  22. willid3 commented on Dec 10

    is corporate America giving up on science?
    http://fortune.com/2015/12/10/dow-dupont-merger/

    we know that the Federal government is being pushed into that too (if its not already done). so who will do it now? well China or some other country will. and without that, we probably have a pretty bleak future

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