10 Friday AM Reads

July 31, 2015 7:50am by

Another interesting 5 day run hurtles towards the weekend — we have your back with our morning train reads:

• A Ten-Year Love Affair with Hedge Funds. Part four of CIO’s Google Trends series: How investors fell in and out of love with hedge funds—and how the relationship survives (Chief Investment Officer)
• Flat stock markets: It’s not all doom and gloom (Fortune) see also Breadth and Major Market Tops (Irrelevant Investor)
• Why Greece’s Lenders Need to Suffer (NYT Mag) see also Which Was Bigger: The Greek or American Bailout? (NYT)
• That ‘Useless’ Liberal Arts Degree Has Become Tech’s Hottest Ticket (Forbes)
• Tired of Rosé? Eight Great Other Wines to Drink in the Summer Sun (Bloomberg) see also American Way of Wine: It’s not always a pretty sight, but we do get there (Wine Spectator)

Continues here

 

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  3. rd commented on Jul 31

    If you are in NYS, try the Finger Lakes dry and semi-dry reislings for a great summer wine. They are relatively inexpensive – even the best single vineyard ones are rarely over $20. The past several years have been good vintages.

    • Gnatman commented on Jul 31

      Dr Constantin Frank is gone but his groundbreaking efforts endure

  4. rd commented on Jul 31

    Smallest quarterly wage gain on record.

    http://www.bloomberg.com/news/articles/2015-07-31/worker-pay-in-u-s-rises-0-2-smallest-gain-in-records-to-1982

    Consumers will still drive the economy upwards though because their lives are improving even though they are not actually seeing much in the way of wage gains (money is less important now than it used to be according to Martin Feldstein – I assume he is informing CEOs that they don’t need as much money either since the quality of personal jets has been steadily improving)
    http://www.marketwatch.com/story/are-middle-class-incomes-really-stagnating-2015-07-30?dist=beforebell

  5. rd commented on Jul 31

    In the most important legal case in the United States right now, the NFL Players Association outlined the basis of their lawsuit: http://www.usatoday.com/story/sports/nfl/2015/07/30/nflpa-union-tom-brady-legal-strategy-jeffrey-kessler-federal-court/30881971/

    I think the argument that the contractually agreed to penalty for tampering with equipment is an $8k fine is probably their best argument, although the complete lack of disregard for any sort of measurement and documentation of ball air pressures is a good one too. The independent firm showing up as the league’s attornies must also have been fun.

    • ilsm commented on Jul 31

      Anti Iran nuke deal ‘bombast’ is a tantrum, US military industry congress complex angst. It don’t get $3T and no more weapons selfies from expensive drones and bombers slaughtering hundreds of thousands of Iranians.

      While Iran getting the bomb is good for war profiteers in both US and Israel. Israel is already equipped for a mutual assured destruction of Pakistan, Iran already on the target list.

      The rational world will lift the sanction regardless what the US war mongers get.

    • VennData commented on Jul 31

      ​!. Chris Christie​’s New Jersey

      2. John Sununu’s New Hampshire

      3. Texas (Bush, Cruz, Perry, Abbott and the rest of the Hitler youth.)

      http://www.usatoday.com/story/money/personalfinance/2015/03/21/cheat-sheet-high-property-taxes/24990145​/

      Don’t let these Republican’s ​tell you they have low taxes.

      It’s like how they say that the rich “pay all the income taxes” and leave out all the sales, excise, gas and other taxes.

      ​Republicans lie​. And suckers fall for it.

    • willid3 commented on Jul 31

      well they are in favor of low taxes. its just for some not all

    • BillG commented on Jul 31

      No excuses for Jersey. That place is just a tax hell. But Texas has no income tax and New Hampshire has no sales tax and the only income tax they have is on interest and dividends. Most states get the majority of their revenue through three major taxes: income, sales, and property. If you get rid of one or two of those then you’re going to rely a lot more on the remaining one. Texas and New Hampshire are not high tax states.

    • willid3 commented on Jul 31

      true we have no income tax, but our property tax makes up for that . we actually end up in the middle tax wise with property and sales and other taxes. and of course fees. what we really have is mostly low cost of living, and low wages. and most of thew new jobs will get? usually are low wage jobs too

    • ilsm commented on Jul 31

      I love Artie!

      All “Market Basket” stores are run by good people who enjoy taking my money. Been that way since [I still call them] DeMoulas’ days.

      .

  13. willid3 commented on Jul 31

    the poor exploited

    CEO

    who ‘only’ got 75 million at retirement.

    wish i was lucky to be them

  16. DeDude commented on Jul 31

    Interesting dilemma for democrats:

    http://www.vox.com/2015/7/31/9080701/clean-energy-climate-connection

    Should they prioritize politics over everything else (like their GOP opponents) and delay clean energy by pushing the “angry old white male” demographics to resist sustainable energy; or is it more important to get something substantial done before catastrophic climate change become inevitable. There certainly are some substantial plusses to hastening the time when GOP becomes an irrelevant club for angry old white males.

  17. RW commented on Jul 31

    Steve Rattner Is Right: Baby Boomers Failed Millennials

    …but he has the reason wrong.

    …baby boomers let incompetent Wall Street types run the economy for their own benefit. This crew gave us the stock bubble in the 1990s and the housing bubble in the last decade. They also have given us an over-valued dollar. This creates a trade deficit that makes it virtually impossible to get to full employment without bubbles.

    The net effect of the Wall Streeters policies has been the weak labor market of the last 14 years, which along with other policies has led to the bulk of the gains from economic growth going to the top one percent. Baby boomers should apologize for this upward redistribution, …the burden of Social Security is a molehill by comparison.

  18. VennData commented on Jul 31

    “…But with Canada’s prime minister, Stephen Harper, fighting for his political life ahead of national elections in October, Canada would not budge on opening its poultry and dairy markets…”

    http://www.nytimes.com/2015/08/01/business/tpp-trade-talks-us-pacific-nations.html

    LOL. These are the guys the GOP were so deeply concerned about circumventing our own internal environmental policies to build a pipeline for.

  19. VennData commented on Jul 31

    China’s Naked Emperors

    “…The big news here isn’t about the Chinese economy; it’s about China’s leaders. Forget everything you’ve heard about their brilliance and foresightedness. Judging by their current flailing, they have no clue what they’re doing…”

    http://www.nytimes.com/2015/07/31/opinion/paul-krugman-chinas-naked-emperors.html

    Americans are smart. But big companies make dumb moves all the time. There may even be a systemic lack of profitable innovation after a long run of it in a ode to Minsky. But half of the publicly traded firms under perform the average, by definition. Why didn’t the oil companies see the price drop coming and hedge? Why did so many smartypants energy geniuses buy into the tailing head fake?

    Fact is it’s hard to manage a business that makes oil and those guys that do aren’t geniuses.

    So how does anyone expect the Chinese leaders to manage their situation? Good luck China, get rid of those state planners and then you’ll muddle through like the rest of us. Plus you’re free.

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