Linkfest: Will the Volcker rule work? Top graphs of 2013; For 2014, inevitably incorrect forecasts

Categories: Linkfest

Today’s most shared: Volcker rule passed: will it work? … Most important graphs of 2013… A grain of salt for 2014 forecasts… Tough times for bond traders, former masters of the universe, amid Volcker rule, Dodd-Frank, bank capital constraints… Declining mobility… Loss aversion.

Ted Kaufman: The Volcker Rule Will Not Work
The five agencies involved have produced one of the great pieces of Swiss cheese in regulatory history—so riddled with exceptions, contradictions, and foggy language that the major celebrants will be the Wall Street lawyers who have been given the Christmas gift of their dreams.
shared by @retheauditors, @JoeSaluzzi, @ThemisSal
There are six big arguments against the Volcker Rule. Here’s why they’re wrong.
Washington Post
Addressing complaints such as: “The Volcker rule isn’t a fix-all for Wall Street’s ills."
shared by @markgongloff, reddit/Economics, @eisingerj, @tylercowen
Wall Street Exhales as Volcker Rule Seen Sparing Market-Making
Wall Street banks avoided their worst fears of the Volcker rule after regulators crafted the ban on speculative trading to leave market-making operations intact.
shared by @JohnLothian, @ThemisSal, @NicTrades
The Most Important Economic Stories of 2013—in 40 Graphs
The Atlantic
A record year for stocks. A meh year for wages. A weird year for Wall Street.
shared by @TheStalwart, @ModeledBehavior, @BarbarianCap, @reddy
Missed It By *This* Much
It’s part of the gig. A Wall Street strategist, economist or even a run-of-the-mill investment manager gets a crack on financial television and is asked about his or her forecast for the market.
shared by @MichaelKitces, @EconBrothers, @RPSeawright, Reformed Broker
The ECB’s Bridge Too Far by Barry Eichengreen
Project Syndicate
Is Europe’s economic crisis mutating once again? If debt fears are now being superseded by the danger of deflation, as recent data suggest, the European Central Bank has its work cut out for it – and there is nothing to suggest that it is up to the task.
shared by @HamzeiAnalytics, @NickMalkoutzis, @B_Eichengreen, @wonkmonk_
JPMorgan files patent for Bitcoin-style payment system
Financial Times
JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency.
shared by NYT Dealbook, Business Insider, @Nemo_incognito, @ReformedBroker
Era of Lucrative Debt Traders Fades as Credit Suisse Sees Exits
Regulations worldwide from bank capital standards to the U.S. Dodd-Frank Act’s Volcker rule are prompting Wall Street to cut compensation for corporate-debt traders who were among the biggest risk-takers before the market turmoil leading to the financial crisis that started in 2007.
shared by @ritholtz, @BarbarianCap, @JohnLothian
Overcoming an Aversion to Loss
New York Times
The pain of losing is more acute than the pleasure of gain, but sometimes taking a loss is the prudent financial choice.
shared by Abnormal Returns, @ReformedBroker, @RPSeawright
Why Are Americans Staying Put?
New York Times
As with so many cases of inertia, the Internet may be partly to blame.
shared by @MissTrade, Abnormal Returns, @R_Thaler follows the best ‘curators’ on the web and social media, and finds all the top financial news right now, as voted by you.

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