10 Thursday AM Reads

September 3, 2015 8:00am by

A long weekend beckons; the rookies still at their trading turrets can show your bosses how smart you are by plowing through our morning train reads:

• Lessons from the Correction (ETF) see also Plan and Act, Don’t React (Aleph)
• Greenspan’s bogus “conundrum” (FT Alphaville)
• New study argues hedge funds are an even worse scam than we thought (Vox) see also Are Hedge Funds Fake? (BV)
• There’s still too many gold market bulls (Marketwatch)
• Keep Calm And Ignore The 2016 ‘Game Changers’ (FiveThirtyEight)

Continues here

 

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What's been said:

Discussions found on the web:
  1. VennData commented on Sep 3

    KEYSTONE!

    Sorry I couldn’t find any news on Keystone pipeline. If I do I’ll add it later.

    Maybe the Republicans can rename KEYSTONE! to MCKINLEY! pipeline to properly honor the former President, and themselves.

  2. VennData commented on Sep 3

    Chris Whalen’s on Bloomberg blaming Geithner and Holder for the financial crisis! Saying the Fed is socialist!

    This guy has been so wrong as has been noted endlessly in this blog.

    Here’s a quote, a ‘prediction’ of his from 2011 where he was totally wrong AND blamed Obama for not doing things in 2007!

    “…The largest U.S. banks remain insolvent and must continue to shrink. Failure by the Obama Administration to restructure the largest banks during 2007‐2009 period only means that this process is going to occur over next three to five years –whether we like it or not. The issue is recognizing existing losses ‐‐ not if a loss occurred…”

    http://www.pragcap.com/chris-whalen-describes-why-2011-could-make-2008-look-like-a-cakewalk/

    Why is this guy even on Bloomberg? Why not have Bozo the Clown telling us to build walls between Canada?

    The Fed is Socialist!!! ROFL!

  3. VennData commented on Sep 3

    Obama’s strong dollar policy means I get more for my dollar thanks President Obama, Tim Geithner and Jack Lew.

    http://www.marketwatch.com/investing/index/dxy

    The GOP said the dollar would collapse, we’d have inflation, the economy was going into recession, depression after Obama raised taxes slightly on the rich.

    Republicans are wrong. Why anyone is listening to any of their predictions now cracks me up.

  7. rd commented on Sep 3

    The housing construction business looks safe for the foreseeable future due to the staggering amount of homes built over the past decades in zones with high risk of natural disasters. Apparently, since 2008 26 million people per year in the US get displaced at least temporarily by natural disasters.

    http://www.marketwatch.com/story/43-of-us-homes-are-at-high-risk-of-natural-disaster-2015-09-03

    During a period when government is cutting back on infrastructure and other government services, people keep expanding into locations that will require more government spending in the future. Meanwhile, they demand government subsidized insurance so they don’t have to pick up the full bill of their decisions.

    • VennData commented on Sep 3

      Stop Fannie and Freddie from ruining America!

  11. VennData commented on Sep 3

    French farmers converge on Paris in prices protest

    ​”…​Hundreds of French farmers and more than 1,300 tractors have converged on central Paris in the latest protest against collapsing incomes.​..”
    ​
    http://www.bbc.com/news/world-europe-34138670

    ​ROFL. Our market-based products are​n’t getting the prices we want! We want you to pay more AND pay more in taxes for more subsidies!

  12. VennData commented on Sep 3

    Quantitative tightening! Ridiculous.

    If China sells stocks, somebody buys them. If China sells bonds, somebody buys them. THe stocks, bonds, and cash in circulation does not change.

    Only if China’s central bank sells bonds for currency will they (or anyone else) execute quantitative tightening.

    Somebody explain that to C3PO on CNBC

  13. rd commented on Sep 3

    Since the Tehran Embassy Hostage crisis in 1979-80, Europe was doing realpolitik with the Middle East, often only giving lip service to sanctions. The US has been much more stringent (similarly with Cuba). Then the US broke Iraq and Middle East meta-stability with the Iraq invasion and now Europe is being bombarded with refugees on a scale similar to WW II.

    The irony is that these refugees appear to be mainly young (less than 40, often with children) and could help future demographics of Europe as it ages. But how to do that without its localities losing their identities that go back centuries and also how to do it without increasing Islamic fanaticism, e.g. Sharia law?

    http://www.businessinsider.com/europes-asylum-system-is-reaching-its-breaking-point-2015-9

  14. VennData commented on Sep 3

    Bubblewashing

    “…Why would a reporter credit the Fed’s critics with warnings they didn’t give, and fail to mention what they actually said? The answer, pretty obviously, is that if you were to say “Ron Paul has been predicting runaway inflation ever since the Fed began its expansionary policies”, that would make it clear that he has been completely wrong. And conveying that truth — even as a matter of simple factual reporting — is apparently viewed as taking sides…”

    http://mobile.nytimes.com/blogs/krugman/2015/09/02/bubblewashing

    • VennData commented on Sep 3

      WRONG VennData!

      Her son is also NOT going to issue. Which might make you wonder when God told her to give this elected official’s only son a job below her.

      Is that how Kentucky runs things?

  16. rd commented on Sep 3

    It seems like the recent stock market volatility and reduction in prices was due to indiscriminate selling by price-insensitive risk-parity funds that were attempting limit their own volatility. If they persist in this, impacting the market’s inevitable and stable rise to the valuation ratios last achieved in 2000, then it is clear that these risk-parity funds should be banned. They should have learned by now that price insensitivity is only acceptable and legal when buying instead of selling. if they were in China, we would simply arrange for them to disappear and provide assistance in hammering out aggregate production in remote mountain camps.

    http://www.businessinsider.com/leon-cooperman-on-the-market-crash-2015-9

    • VennData commented on Sep 3

      Unless Tom and Giselle split up.

  18. VennData commented on Sep 3

    Kudlow warming to Trump!

    A party man

    • VennData commented on Sep 3

      And is predicting massive killing of Americans by Iran after we sign the deal!

      And all Citizens should run against Democrats who support this… this Iranian deal!

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