10 Thursday AM Reads

Did Janet Yellen say something new yesterday? I wasn’t paying attention. Oh, and our morning train reads:

• The Worst Mutual Fund in the World (Fund Reference)
• Advisers’ Stock Recommendations Drag Down Clients’ Portfolios, Study Finds (WSJbut see How Financial Advisers Can Help Close the Behavior Gap (CFA Institute)
• Uber’s Phantom Cabs (Motherboard)
• Donald Trump Is The Nickelback Of GOP Candidates (FiveThirtyEight)
• Deal with it — Tom Brady and the Patriots are cheaters (Boston Globe)

Continues here


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Discussions found on the web:
  1. RW commented on Jul 30

    Using Math to Obfuscate — Observations from Finance

    The usual narrative suggests that the new mathematical tools of modern finance were like the wings that Daedalus gave Icarus. The people who put these tools to work soared too high and crashed.

    In two posts, here and here, Tim Johnson notes that two government investigations (one in the UK, the other in the US) tell a different tale. People in finance used math to hide what they were doing. ….

  2. ilsm commented on Jul 30

    FiveThirtyEight should know better than doing arithmetic with 5’s!

  3. cjb commented on Jul 30

    When the Patriot Cheating Investigation began, I heard a former ’85 Bear player on WGN radio say “if you aren’t cheating, you’re not trying hard enough to win.” I think the attitude is pervasive in the NFL.

    • RW commented on Jul 30

      WRT cheating to win the honchos of banking and finance could probably teach the NFL a thing or three.

    • DeDude commented on Jul 30

      That cell phone destruction pretty much nailed it – he is a cheater and a soft ball player.

    • Jojo commented on Jul 30

      Can anyone explain why the NFL lawyers didn’t subpoena Brady’s texting records from his phone carrier? I’m pretty sure that they have to keep records of everything that goes through a phone for years, per government edict.

    • willid3 commented on Jul 30

      well probably cause they would need to be in court suing about some thing. which they werent

  4. VennData commented on Jul 30

    “So Mitt Romney’s tweet today said, ‘Gosh, this rhetoric is not helpful,'” Cruz said. “John Adams famously said, ‘Facts are stubborn things.’ Describing the actual facts is not using rhetoric; it is called speaking the truth.”


    Hilarious how these Republican blow hards conflate facts with their predictions.

    You may think shutting down government, not insuring more Americans, and not building infrastructure are the right approaches. But you can’t claim your predictions are facts.

  5. Jojo commented on Jul 30

    If anyone actually believes that all the data we share with overseas contractors (from corporate to personal) is secure, you are out of your mind. .
    Robert X. Cringely
    Who is your IT outsourcing firm working for?
    July 30th, 2015

    While the U.S. Government has been remarkably opaque about the recently discovered security breach at the Office of Personnel Management (OPM), we know that personal information on at least 21.5 million present, former, and prospective federal employees was lost. The Feds claim Chinese hackers are at the bottom of it, which is disputed by the Chinese government. This, to me, raises a number of questions, especially about the possible role of IT outsourcing firms and implications for organizations beyond OPM. Does IT outsourcing make your data more vulnerable? Yes, I believe it does.


    • rd commented on Jul 30

      As long as we can save a few bucks on labor costs, it is worth it.

    • willid3 commented on Jul 30

      doesnt even have to be IT, it could also be the call center, accounting, personnel, and many others
      but it does make it easier if you can ‘infiltrate’ IT first

  6. hue commented on Jul 31

    there are no phantom Uber cabs, it’s network latency, sync issues

    the real car often arrives before the app car, your own private smart-phone time warp

    • hue commented on Jul 31

      drivers use the rider app and see their own app cars, sometimes, it arrives a little late

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