10 Tuesday PM Reads

My afternoon train reading:

• Fiscal Madness (Tim Duy’s Fed Watch) see also Petrified by the fiscal cliff? Relax, it’s just a slope (Reuters)
Much ado about liquidity? Lockup expirations and stock prices (AswathDamodaran)
• Why the Days of Stock Picking May Be Coming to an End (CNBC) see also Why Buy and Hold Investing Can Never Work (A Rich Life)
Buy at the point of maximum pessimism Looking for Silver Linings (Alhambra Investment Partners)
Bruce Bartlett: The New Republican Tax Policy (Economix)
• When the U.S. Asked Europe for Its Money Back (Echoes)
• Pot legalization puts U.S. bankers in a pickle (Reuters)
• Big Banks vs. Elizabeth Warren: It’s On (Again!) (Mother Jones)
• Tax reform? We need a revolution (LA Times) see also To Reduce Inequality, Tax Wealth, Not Income (NYT)
• How to Live Without Irony (Opinionator)

What are you reading?

Investors Play Name Game on Muni Debt

Source: WSJ

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