10 Tuesday AM Reads

My two-fer-Tuesday morning train reads:

• Brokers Answer the Entrepreneurial Call (WSJsee also When Financial Advisers Move, Should Clients Follow? (WSJ)
• Vanguard knocks Fidelity from top spot of DC assets ranking after decades-long run (Pensions & Investments)
• Dodd-Frank’s Effect on Small Banks is Muted (WSJ)
• Nobel Economist Showed We’re Helping the Wrong People (Bloomberg Viewsee also Why Angus Deaton Deserved the Economics Nobel Prize (NYT)
• What the Color of Your Luxury Car Says About You and Your Taste (Bloombergsee also Ferrari Scion, Steered Away From Racing, Ends Up a Billionaire (Bloomberg)


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  1. RW commented on Oct 13

    Fed Watch: Brainard Drops A Policy Bomb
    While the bond market was closed and whatever financial journalists were left focusing their efforts on newly-minted Nobel Prize recipient Angus Deaton, Federal Reserve Governor Lael Brainard dropped a policy bomb with her speech to the National Association of Business Economists. It was nothing short of a direct challenge to Chair Janet Yellen and Vice Chair Stanley Fischer. Is was, as they say, a BFD. …

    Bottom Line: This is the most exciting speech I have read in forever. Not necessarily for the content. But for the politics. Evans and Kocherlakota are no longer the lunatic fringe. This could be a real game changer that shifts the Fed toward the Evans view of the world, with no rate hike until mid-2016. Brainard muddied further the already murky December waters.

    • RW commented on Oct 13

      Along with some personal and community action — solar panels on the roof, recycling, alt energy and waste disposal initiatives, etc — climate change has almost made me a single issue voter; e.g., I’m not likely to vote for any candidate who doesn’t have a positive policy position WRT the subject and am likely to contribute to for the opponent of any candidate who waffles or denies it even if that opponent is otherwise not exceptional.

      It ain’t much but we do what we can.

      I do have young kin and hate the idea of the failing infrastructure and climatic conditions we’re handing them. There are actually folks out there who try to claim the national debt somehow merits this level of existential threat but that not only reveals them as macroeconomically confused — that burden is also an asset, and that is magnified if it is spent on infrastructure — it reveals them as incapable of evaluating risk asymmetry entirely.

  2. Jojo commented on Oct 13

    Is busking on the NYC subway more lucrative than streaming on Spotify?
    Hopes&Fears ventures into New York City’s underground to find out how subway buskers are faring in the age of playlists, piracy, and in-transit selfies.

    Charles Shafaieh

    King’s been performing in the subways for approximately four months—three days a week, six hours a day. On a bad day he makes about $30 and up to $80 on a good day, he tells Hopes&Fears.

    For all but a few, New York City’s subway system is not a final destination. Commuters navigate its subterranean corridors so that they can be somewhere, really anywhere, else. However, buskers are an indelible fixture of the New York City soundscape and have been since 1985 when a fifty-year ban on subway performances was lifted. Now, artists spring up at seemingly every station and countless people are able to make their living plucking away underground.

    Hopes&Fears asked me to travel this lightless space to learn how buskers are faring, both economically and creatively, in this era of earbuds, podcasts, and Spotify.



  3. rd commented on Oct 13

    Hackers are going to have a field day once banks employees are on their own for supplying phone equipment to access JP Morgan systems:http://www.wsj.com/articles/j-p-morgan-to-some-employees-pay-for-your-own-phone-1444687229

    Also, Memo to Jamie Dimon:

    A very high percentage of business travelers fly economy and stay at places like Courtyard and Hampton Inn. St. Regis and Claridges would generally not be on the approved list. Welcome to the real world.

  4. VennData commented on Oct 13

    Carry the data on your phone and humiliated the Climate deniers. Make their ideological nonsense embarrassing.

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