10 Friday AM Reads

Under 20 on the VIX, the S&P500 over its 50 day MA, and the weekend is here? That sounds like a win to me and our morning train reads:

• Why everybody knows CEOs are overpaid, but nothing happens (The Conversation)
• Annual Stock Market Returns (Irrelevant Investor)
• U.S. Consumers Splurged with Gas Savings After All, Study Finds (Real Time Economics)
• Why Comedians Love the Mets: From Jerry Seinfeld to Jon Stewart, the second fiddle of New York baseball could fill a dugout with A-List comics—ones who love to embrace suffering (WSJ)
• Reel-to-reel tape is the new vinyl (The Verge)

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Discussions found on the web:
  1. VennData commented on Oct 9

    Hilarious to listen to Joe Kernan plead with Cramer “Who’s buying?”

    What a quandary for these inflexible right wing nuts: seven years of saying the sky is falling and it’s still up there.

    Kernan would fit right in with the Freedom Caucus who wants to shut down America.

    Message to Joe Kernan and the House Republicans: America, Lover it or Leave it.

  2. VennData commented on Oct 9

    The next GOP goofball who says the Republicans have a Deep Bench needs to go to an American college and get gunned down…

    Kevin McCarthy, the first Republican to tell the truth in years and what do they do? Dump him.

    “.. Democrats had always described the May 2014 creation of the Select Committee on Benghazi as a political fishing expedition. All of a sudden, McCarthy was saying so, just to mollify a partisan conservative TV host…”​


    ​​Proud Republican​ hatchet men. ANYTHING to make Obama’s American ungovernable.


    • VennData commented on Oct 9

      Those armed Southern Rebels protected themselves real good from the Northern Slave free-ers in the Old Southern Confederacy.

    • VennData commented on Oct 9

      Ben Carson: Pompeii Victims Should Have Outrun Lava


    • VennData commented on Oct 9

      Those Socialist allies would have not got Adolph if he had a piece in that bunker.

  3. VennData commented on Oct 9

    Hey Texas, Obama take over with Jade Helm yet? Take away your guns? Ruin your portfolios?

    Houston, Y’all have a problem. YOU ARE NUTS!

  4. VennData commented on Oct 9

    Putin isn’t humiliating Obama in Syria. He’s doing the U.S. a favor.

    “…We don’t have the faintest idea of how to teach people to keep order for themselves…”


    The GOP House can’t even do it on THEMSELVES let alone the entire world were education, opportunity and health are for the lucky few.

    Republicans are ridiculous on the face of it. They are ridiculous in their macho desire for control.

  5. RW commented on Oct 9

    From a contrarian POV it’s worth thinking about increasing allocation to some EMs but many are still facing significant headwinds so it probably wouldn’t pay to be too quick about it.

    The diminishing petrodollar float and the global risk asset boat
    Distracted as we were by liquidity events featuring quiz questions and former Federal Reserve chairmen, we missed this note from Citi earlier this week on the escalating effects of — one of our favourite subjects right now — petrodollar liquidity removal from the oil producing sovereign complex.

    From Citi (our emphasis):

    One topic we have been focused on recently is the pressure coming from the withdrawal of liquidity by Middle Eastern entities. By funding source, 60% of the AUM in the SWF (Sovereign Wealth Fund) community comes from oil/gas economies. In the other 40%, there is also a great deal of commodity content. So, the acute terms-of-trade shock EM economies are now experiencing will probably continue to impact the ability of SWFs to support new investment flows in Emerging Markets bonds and stocks.

  6. Jojo commented on Oct 9

    Meet the Chimps That Lawyers Argue Are People
    In a new study, chimpanzees were trained to walk upright. The fine print: They’re also plaintiffs in a landmark lawsuit.

    By Brandon Keim, for National Geographic
    PUBLISHED October 08, 2015

    The plaintiffs of a historic lawsuit seeking legal rights for chimpanzees finally made a public appearance—not in court, but in a study on the mechanics of walking on two feet.

    The study, published Tuesday in the journal Nature Communications, describes how two chimps trained to walk upright move more like humans than expected, perhaps hinting at the evolutionary origins of our own gait.

    It hints at so much more. The research was conducted on Hercules and Leo, two 7-year-old chimps kept at the Stony Brook University laboratory of anthropologist Susan Larson. Earlier this summer, these two chimps received worldwide attention when activists with the Nonhuman Rights Project argued in a New York courtroom that Leo and Hercules should legally be considered people with a right to be free.


  7. Jojo commented on Oct 9

    No changes in store for gun control. SOS. Move on. Nothing to see here. Sheese.
    Mass shootings unlikely to sway 2016 presidential race
    Bernie Sanders and Hillary Clinton have pushed reform, but momentum scant in Congress for new laws

    October 8, 2015 7:40PM ET Updated 9:31PM ET
    by Wilson Dizard @willdizard

    Senate Democrats on Thursday unveiled a strategy to strengthen federal firearm laws, a week after a mass shooting killed nine people in Oregon. The Democrats’ plan includes tightening background check rules, closing loopholes and toughening punishments for weapons trafficking across state lines.

    “We here today agree on three principles for action, principles which most Americans can agree on,” Sen. Ron Wyden, D-Ore., said in Washington, D.C., at a news conference announcing the effort.

    The shooter who killed nine people and wounded nine more at Umpqua Community College in the southwestern Oregon city of Roseburg on Oct. 1 had 13 firearms in his possession, a fact that added fuel to the gun control debate. But even though the issue tends to dominate speeches and headlines after mass shootings, analysts say it is likely to fade from effective political reality, even as the 2016 presidential race heats up.

    Republicans in the House and Senate have largely maintained their longtime united front opposing new limits on gun ownership after the Oregon shooting, but the incident has prompted renewed calls for action from Democratic presidential primary candidates Sen. Bernie Sanders (D-Vt.) and former New York Sen. Hillary Clinton, who are currently the Democrats’ two top-polling candidates for the 2016 U.S. presidential race.


  8. RW commented on Oct 9

    Must Read
    I see three things going on in Federal Reserve desire to raise interest rates once there is even half an excuse to do so:
    1. A desire to placate members of the FOMC who believe that what is good for commercial bankers must be good for America, and who see higher interest rates now as good for commercial bankers.
    2. A belief that the normalization of the unemployment rate ought to carry with it a normalization of interest rates.
    3. Excessive trust in models with shaky empirical foundations that predict rising inflation in 2017 and beyond. …

    Bruce Bartlett: The Fed: Being Goaded into Raising too Soon?

  9. intlacct commented on Oct 10

    Brain wave – Investing in shadow banking/direct lending.

    My advice: Keep It Simple, Sweetheart. Don’t reinvent the wheel.

    Exception – those who don’t mind complexity, need a much higher return (and can countenance commensurate risk).

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