06 November 2013
Linkfest: MF Global investors finally get money back; Brent crude benchmark rigged? Wealth tax proposals
Posted In: Linkfest
Today’s most shared: MF Global customers made whole, 2 years later… Another day, another claim of benchmark-rigging, this time it’s Brent crude… Wealth tax proposals gain currency… Will Fed taper, but lengthen low-rate guidance, lower unemployment threshold? … Elite MBAs choose tech over Wall Street … Bond liquidity dries up… Potential GDP growth permanently reduced? … Personal finance for (possibly soon-to-be-rich) Twitter engineers…Wall Street rental securitizations.
MF Global Customers Will Recover All They Lost
New York Times
A federal bankruptcy court judge approved a plan on Tuesday that would close the remaining shortfall for some 20,000 customers.
shared by @retheauditors, @counterparties, @davidgaffen
New York Times
A federal bankruptcy court judge approved a plan on Tuesday that would close the remaining shortfall for some 20,000 customers.
shared by @retheauditors, @counterparties, @davidgaffen
Brent Crude Traders Claim Proof BFOE Boys Rigged Benchmark
Bloomberg
Four longtime traders in the global oil market claim in a lawsuit that the prices for buying and selling crude are fixed — and that they can prove it.
shared by @counterparties, @sdebevec1, Here Is The City
Bloomberg
Four longtime traders in the global oil market claim in a lawsuit that the prices for buying and selling crude are fixed — and that they can prove it.
shared by @counterparties, @sdebevec1, Here Is The City
Rogoff: The moral case for a one-off wealth tax is compelling
theguardian.com
The idea should be taken seriously – but it is no substitute for fundamental long-term tax reform.
shared by @B_Eichengreen, @D_Blanchflower
theguardian.com
The idea should be taken seriously – but it is no substitute for fundamental long-term tax reform.
shared by @B_Eichengreen, @D_Blanchflower
Fed Study: Lengthen Low-Rate Guidance to Fix Unemployment Faster
Wall Street Journal
The Federal Reserve could help drive down unemployment faster if it promised to keep short-term interest rates near zero for longer than currently envisioned by officials or investors, according to a new research paper by a top central-bank staff member.
shared by @BCAppelbaum, @DougKass, @Fullcarry, @MacroScope, @pdacosta
Wall Street Journal
The Federal Reserve could help drive down unemployment faster if it promised to keep short-term interest rates near zero for longer than currently envisioned by officials or investors, according to a new research paper by a top central-bank staff member.
shared by @BCAppelbaum, @DougKass, @Fullcarry, @MacroScope, @pdacosta
For more elite M.B.A.s, tech is more appealing than Wall Street
Wall Street Journal
Elite M.B.A.s are increasingly heading to work in technology over finance as the lingering aftereffects of the financial crisis—along with Wall Street’s long hours and scaled-back pay—sends newly minted M.B.A.s elsewhere.
shared by @carney, @MParekh, @peterlattman, @ObsoleteDogma
Wall Street Journal
Elite M.B.A.s are increasingly heading to work in technology over finance as the lingering aftereffects of the financial crisis—along with Wall Street’s long hours and scaled-back pay—sends newly minted M.B.A.s elsewhere.
shared by @carney, @MParekh, @peterlattman, @ObsoleteDogma
When bonds don’t trade
Reuters
If you want to buy or sell a bond on the secondary market, there’s really only one way to do it: phone a bunch of broker-dealers, ask them to make you a market, and either accept the best price you find, or don’t.
shared by @abnormalreturns, @volatilitysmile, @EpicureanDeal, @FinInfoTwits
Reuters
If you want to buy or sell a bond on the secondary market, there’s really only one way to do it: phone a bunch of broker-dealers, ask them to make you a market, and either accept the best price you find, or don’t.
shared by @abnormalreturns, @volatilitysmile, @EpicureanDeal, @FinInfoTwits
The Great Recession may have crushed America’s economic potential
Washington Post
A new study from three Fed economists suggests policymakers messed up by not responding more aggressively to the weak economy.
shared by @delong, @MarkThoma, @JustinWolfers, @AntDeRosa, @Richard_Florida
Washington Post
A new study from three Fed economists suggests policymakers messed up by not responding more aggressively to the weak economy.
shared by @delong, @MarkThoma, @JustinWolfers, @AntDeRosa, @Richard_Florida
Free-Floating Inflation Hysteria
New York Times
Who you gonna believe?
shared by @izakaminska, @TheStalwart, @ritholtz, @wonkmonk_
New York Times
Who you gonna believe?
shared by @izakaminska, @TheStalwart, @ritholtz, @wonkmonk_
Germany is a weight on the world
Financial Times
The criticisms that hurt are those one suspects might be fair. This might explain the outrage from Berlin last week over the criticism by the US Treasury of Germany’s huge and vaunted trade surplus.
shared by @ObsoleteDogma, Naked Capitalism, @saraeisenFX, @edwardnh, @mhewson_CMC
Financial Times
The criticisms that hurt are those one suspects might be fair. This might explain the outrage from Berlin last week over the criticism by the US Treasury of Germany’s huge and vaunted trade surplus.
shared by @ObsoleteDogma, Naked Capitalism, @saraeisenFX, @edwardnh, @mhewson_CMC
NYSE’s Next Owner Says Small U.S. Investors Get Ripped Off
Bloomberg
The head of IntercontinentalExchange Inc., which is about to own the New York Stock Exchange, said U.S. equity markets are flawed because sophisticated traders are taking advantage of small investors.
shared by @ritholtz, @JoeSaluzzi, @ThemisSal, @nasiripour, @JacobWolinsky
Bloomberg
The head of IntercontinentalExchange Inc., which is about to own the New York Stock Exchange, said U.S. equity markets are flawed because sophisticated traders are taking advantage of small investors.
shared by @ritholtz, @JoeSaluzzi, @ThemisSal, @nasiripour, @JacobWolinsky
Hedge Funds’ ‘Two and Twenty’ Era is ‘Done’: Larch Lane
Barron’s
In 1990, there were several hundred hedge funds. Today, including fund-of-funds, there are some 10,000, managing $2.4 trillion. In the 1990s, the HFRI Fund Weighted Composite Index averaged annual returns in the high teens. This year it’s 3.87%, following 6.36% in 2012.
shared by @ReformedBroker, @StockJockey, Reformed Broker
Barron’s
In 1990, there were several hundred hedge funds. Today, including fund-of-funds, there are some 10,000, managing $2.4 trillion. In the 1990s, the HFRI Fund Weighted Composite Index averaged annual returns in the high teens. This year it’s 3.87%, following 6.36% in 2012.
shared by @ReformedBroker, @StockJockey, Reformed Broker
Wall Street slumlords’ outrageous new scheme: How they could wreck the economy again
salon.com
Remember mortgage-backed securities and the financial crisis they caused? This latest gambit will put you in shock
shared by @rortybomb, @davidgaffen
salon.com
Remember mortgage-backed securities and the financial crisis they caused? This latest gambit will put you in shock
shared by @rortybomb, @davidgaffen
The Single Biggest Determinant of Startup Valuations at IPO: Growth
tomtunguz.com
shared by @TheStalwart, The Big Picture, @DavidSchawel, @ritholtz
tomtunguz.com
shared by @TheStalwart, The Big Picture, @DavidSchawel, @ritholtz
Personal Finance for Engineers (Presented at Twitter, 2013)
slideshare.net
"Personal Finance for Engineers" presentation given at Twitter HQ in San Francisco on October 9, 2013.
shared by Business Insider, @SconsetCapital
slideshare.net
"Personal Finance for Engineers" presentation given at Twitter HQ in San Francisco on October 9, 2013.
shared by Business Insider, @SconsetCapital
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Photo credit: Salon.com – Wall Street slumlords’ outrageous new scheme: How they could wreck the economy again
