10 Tuesday AM Reads

October 20, 2015 7:21am by

My two-for-Tuesday morning train reads:

• Hedge fund performance fees decline sharply (FT) see also For Hedge Funds, a Can’t-Miss Trade Goes Bust: burned after managers are caught in crude oil’s fall (WSJ)
• Misconceptions About Individual Bonds vs. Bond Funds (A Wealth of Common Sense) see also Dry Powder (Irrelevant Investor)
• Why Uber Has To Start Using Self-Driving Cars (Climateer Investing) see also Tesla’s Autopilot System Is Awesome And Creepy And A Sign Of A Beautiful Future (Jalopnik)
• The King’s Gambit: Valeant’s Big Secret (SIRF) see also Did Pill Bro Shkreli Photoshop an X-Ray for Sympathy? (Gawker)
• Over A Year Before 9/11, Trump Wrote Of Terror Threat With Remarkable Clarity (Buzzfeed) see also Raising Republican Hackles, Trump Takes On George Bush’s 9/11 Record (NYT)

Continues here

 

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What's been said:

Discussions found on the web:
  1. A commented on Oct 20

    Drones and guns have something in common: potential buyers should be subjected to mandatory intelligence testing.

  2. VennData commented on Oct 20

    Marco Rubio Calls Out High Drug Prices – Fortune

    http://fortune.com/2015/10/19/marco-rubio-drug-companies/

    You’re tacking left too early!

    “…Rubio’s campaign did walk back the statement slightly, noting that the candidate was only referring to some companies…”

    Whew. Just kidding.

    If we allow drug companies to set their own prices they’ll do the right thing. No one complained about drug price under Bush except people who don’t support the military, want to raise taxes on families and suppress religious freedoms.

    • Iamthe50percent commented on Oct 20

      “except people who don’t support the military, want to raise taxes on families and suppress religious freedoms” I guess you mean Republicans. They are the ones cheating disabled vets, shifting the tax burden down to working families and trying to force everyone to follow fundamentalist Christianity.

    • willid3 commented on Oct 21

      actually think they want every one to follow their flavor of Christianity. which like their flavor of constitution only has the parts they want to keep, the rest they want to ignore (like the 2nd amendment vs the 14th amendment, of helping the poor which is a big thing in Jesus ministry, but isnt in their version)

  3. VennData commented on Oct 20

    Miss-priced drugs

    Valeant started small, grew quickly, their business model is to find miss-priced drugs and adjust their prices to where they should be. To save money the firm right-sizes R&D, reallocates staff outwardly and invests the profits in looking for more miss-pricings.

    ​Hillary Clinton said she was against this. Wall Street was filled with Clinton Rage that blamed her for the market decline.

    http://www.thestreet.com/story/13295509/1/biotech-drug-stocks-tank-after-clinton-tweet-on-price-controls.html

    This “analyst” said that Clinton’s comment doesn’t change his view of Valeant​

    http://www.streetinsider.com/Analyst+Comments/Hillary+Clinton+Tweet+Doesnt+Change+Bullish+View+on+Valeant+Pharmaceuticals+(VRX),+BMO+Capital+Says/10908141.html

    Valeant dropped 25% after that. And Yet the market has recovered

    http://finance.yahoo.com/q?s=SPY

    Valeant is changing it’s business model. Under Pressure About Price Increases, Plans Changes – WSJ​

    http://www.wsj.com/articles/valeant-raises-full-year-guidance-after-topping-third-quarter-projections-1445250887​

    ​And Trump says he can talk big. Hillary Clinton has gotten things to happen since the Presidential race heated up. What has Trump actually done since the race heated up?​

    • VennData commented on Oct 20

      …and Wars on Drugs.

    • Iamthe50percent commented on Oct 20

      Proving that Canadians are smarter or better educated than Americans.

    • VennData commented on Oct 20

      …and so much for the foreign policy rift due to Keystone Pipeline. The smart Canadians voted tose haters out. In Israel they almost got the haters out. Maybe next time.

  5. VennData commented on Oct 20

    Donald Trump and Ben Carson Gain Strength in Poll of Republicans – WSJ

    1) Trump
    2) Carson
    3) Rubio
    4) Cruz
    5) Bush

    http://www.wsj.com/articles/donald-trump-and-ben-carson-gain-strength-in-poll-of-republicans-1445288400

    Where has Fiorina gone?
    Long time passing
    Where has Fiorina gone?
    Long time ago

    Where has Fiorina gone?
    debate moderators everyone
    Oh, when will they ever learn?
    Oh, when will they ever learn?

    Where have the debate moderators gone?
    Long time passing
    Where have the debate moderators gone?
    Long time ago

    Where have the debate moderators gone?
    Report to CEOs everyone
    Oh, when will they ever learn?
    Oh, when will they ever learn?

    Where have all the CEOs gone?
    Long time passing
    Where have all the CEOs gone?
    Long time ago

    Where have all the CEOs gone?
    Jeb Bush donors everyone
    Oh, when will they ever learn?
    Oh, when will they ever learn?

    Where have Jeb Bush’s donors gone?
    Long time passing
    Where have Jeb Bush’s donors gone?
    Long time ago

    Where have Jeb Bush’s donors gone?
    To Mike McCarthy everyone
    Oh, when will they ever learn?
    Oh, when will they ever learn?

    Where has Mike McCarthy gone?
    Long time passing
    Where have Mike McCarthy gone?
    Long time ago

    Where has Mike McCarthy gone?
    Too far Left for anyone.
    Oh, when will they ever learn?
    Oh, when will they ever learn?

  6. RW commented on Oct 20

    Bill McBride asks a good question:

    Ornithology: What is a “deficit hawk”?
    …I’d like to see the definition of a “deficit hawk”!

    I’d think a true deficit hawk would be truly concerned about, uh, the deficit. So they’d support both tax increases1 and spending cuts to reduce the deficit. They’d oppose policies that increase the deficit (like the Bush tax cuts, and the war in Iraq). They’d also be concerned about policies that led to the financial crisis and a deep recession – since the deficit increases during a recession. …

    • VennData commented on Oct 20

      Under this definition Republicans cannot be deficit hawks so I reject it!

      I reject anything negative about Republicans and support even the slightest whacked out conspiracy theory about any Democrat. Email it to me!!

      Obama has RUINED America by bringing down the deficit in the wrong way! Keynesian demand maintenance! Raise interest rates not taxes! Stop Obama from interfering with our God given choice of Speaker!!!

    • willid3 commented on Oct 20

      well if the supported actually reducing (or eliminating) the deficit, what would they do if it were to actually happen? what would they run on then?

  7. romerjt commented on Oct 20

    The Buzzfeed article (excellent) makes one wonder how Bush got so little of the 9/11 mess on him. If I were a journalist I’d follow up on this story by calling Richard Clarke, “tell me again Mr. Clarke, how many times did you and Tenent warn Bush about this?” This issue is not “pathetic” (Jeb) nor “ridiculous” (Carson) and Donald was all over this a year before it happened.

    • VennData commented on Oct 20

      They would deny any press access who flauted the “Bush didn’t read the memo” meme. And they would go after the family too.

  9. VennData commented on Oct 20

    Richard Hanna and the GOP are handing Hillary Clinton a Benghazi hearing win before it even starts

    “…this may not be politically correct, but I think that there was a big part of this investigation that was designed to go after people and an individual, Hillary Clinton.” Hanna added: “I think that’s the way Washington works. But you’d like to expect more from a committee that’s spent millions of dollars and tons of time.”

    https://www.washingtonpost.com/news/the-fix/wp/2015/10/15/republicans-are-handing-hillary-clinton-a-win-at-the-benghazi-hearing-before-it-even-starts

    No asshat that’s they way the REPUBLICANS work.

    • willid3 commented on Oct 20

      hm, Congress is always blaming others for not being responsible, but here we have them trying blame some one else for their not being responsible.

    • BTUR commented on Oct 20

      That’s some interesting logic there. “Millenials aren’t driving so potholes are their fault.”

  13. RW commented on Oct 20

    Steven Hayward Continues the Long History of Powerline’s Economic Stupidity
    Powerline has a long history of being 100% wrong on the economy. From the “Fed is printing money so inflation will spike” garbage, to “the CRA caused the housing crisis” to the latest “Dodd Frank is crushing small business lending” meme, these guys have not been able to get one thing right.

    Steven Hayward continues that trend. On October 8th, he argued that interest rates would spike because China was selling treasuries …

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