Linkfest: Stocks, household wealth surpass all-time highs; Hedge funds not as risky as believed? Dodging estate taxes
Categories: Linkfest
Today’s most shared: Wealth, world stocks hit new all-time highs… Hedge funds: not actually Wild West gunslingers? … How superrich dodge estate taxes with complex trusts… Unforeseen consequences of the Volcker rule… EU banking union points of contention… Jed Rakoff on the missing financial sector prosecutions… Pseudonymous Bitcoin inventor’s stash now worth $1b… Penny stock traders back on front pages… Vacuous ‘thought leaders’ replace public intellectuals on the back opinion pages.
US household wealth reaches high of $77 trillion
daily-journal.com
A surging stock market and a steady recovery in home prices drove Americans’ wealth to a record last summer.
shared by @EddyElfenbein, @SconsetCapital
daily-journal.com
A surging stock market and a steady recovery in home prices drove Americans’ wealth to a record last summer.
shared by @EddyElfenbein, @SconsetCapital
Global stock rally: World market cap reached record high in November, and is back above pre-recession, pre-crisis level
aei-ideas.org
shared by Business Insider, reddit/Economics, @prchovanec
aei-ideas.org
shared by Business Insider, reddit/Economics, @prchovanec
U.S. Treasury research office sees less riskiness in hedge funds
Reuters
A preliminary analysis of a new trove of hedge fund data has found that the industry may not be as risky as conventionally thought, a U.S. Treasury Department official said on Monday.
shared by @JacobWolinsky, NYT Dealbook, @SimoneFoxman, @nasiripour
Reuters
A preliminary analysis of a new trove of hedge fund data has found that the industry may not be as risky as conventionally thought, a U.S. Treasury Department official said on Monday.
shared by @JacobWolinsky, NYT Dealbook, @SimoneFoxman, @nasiripour
Unforeseen consequences of the Volcker rule already are rippling into the furthest corners of the economy and financial markets.
Wall Street Journal
The effects of the week-old Volcker rule are being felt thousands of miles from Wall Street as small and midsize banks begin to sell debt. Other institutions are looking for new ways to finance muni bonds.
shared by @LaurenLaCapra, @MichaelKitces, @TheIntuitInvest
Wall Street Journal
The effects of the week-old Volcker rule are being felt thousands of miles from Wall Street as small and midsize banks begin to sell debt. Other institutions are looking for new ways to finance muni bonds.
shared by @LaurenLaCapra, @MichaelKitces, @TheIntuitInvest
Accidental Tax Break Saves Wealthiest Americans $100 Billion
Bloomberg
Sheldon Adelson makes no secret of his disdain for the estate tax…By shuffling his company stock in and out of more than 30 trusts, he’s given at least $7.9 billion to his heirs while legally avoiding about $2.8 billion in U.S. gift taxes since 2010, according to calculations based on data in Adelson’s U.S. Securities and Exchange Commission filings.
shared by @TomLasseter, @ritholtz, @SimoneFoxman, @lucymarcus, @Alea_
Bloomberg
Sheldon Adelson makes no secret of his disdain for the estate tax…By shuffling his company stock in and out of more than 30 trusts, he’s given at least $7.9 billion to his heirs while legally avoiding about $2.8 billion in U.S. gift taxes since 2010, according to calculations based on data in Adelson’s U.S. Securities and Exchange Commission filings.
shared by @TomLasseter, @ritholtz, @SimoneFoxman, @lucymarcus, @Alea_
Coming banking union storm: leaked points of friction
Financial Times
The Lithuanians, as holders of the EU’s rotating presidency, helpfully produced a 19-page note for all delegations heading into tonight’s start of the talks, which Brussels Blog got its hands on and posted here.
shared by @YanniKouts, @OpenEurope, @BrunoBrussels
Financial Times
The Lithuanians, as holders of the EU’s rotating presidency, helpfully produced a 19-page note for all delegations heading into tonight’s start of the talks, which Brussels Blog got its hands on and posted here.
shared by @YanniKouts, @OpenEurope, @BrunoBrussels
Jed Rakoff – The Financial Crisis: Why Have No High-Level Executives Been Prosecuted?
nybooks.com
Was the crisis simply a result of negligence, of the kind of inordinate risk-taking commonly called a “bubble,” of an imprudent but innocent failure to maintain adequate reserves for a rainy day? Or was it the result, at least in part, of fraudulent practices, of dubious mortgages portrayed as sound risks and packaged into ever more esoteric financial instruments, the fundamental weaknesses of which were intentionally obscured?
shared by NYT Dealbook, @BCAppelbaum, Naked Capitalism, @EmanuelDerman
nybooks.com
Was the crisis simply a result of negligence, of the kind of inordinate risk-taking commonly called a “bubble,” of an imprudent but innocent failure to maintain adequate reserves for a rainy day? Or was it the result, at least in part, of fraudulent practices, of dubious mortgages portrayed as sound risks and packaged into ever more esoteric financial instruments, the fundamental weaknesses of which were intentionally obscured?
shared by NYT Dealbook, @BCAppelbaum, Naked Capitalism, @EmanuelDerman
The Government Spending to GDP Ratio: Down, Down, Down
Econbrowser
shared by @MarkThoma, @EconBrothers, @Noahpinion
Econbrowser
shared by @MarkThoma, @EconBrothers, @Noahpinion
Conservative Wonks, Conservative Politicians, and Recessions
New York Times
“How,” Josh Barro asks, “can a political ideology have nothing to say about how to address recessions?” It’s not just the dumb politicos. It’s also a problem of the conservative economics intelligentsia, like… Robert Barro.
shared by reddit/Economics, @Noahpinion, @ObsoleteDogma, @MarkThoma
New York Times
“How,” Josh Barro asks, “can a political ideology have nothing to say about how to address recessions?” It’s not just the dumb politicos. It’s also a problem of the conservative economics intelligentsia, like… Robert Barro.
shared by reddit/Economics, @Noahpinion, @ObsoleteDogma, @MarkThoma
Companies turning again to stock buybacks to reward shareholders
Washington Post
shared by Abnormal Returns, @ReformedBroker, @counterparties, @moorehn, @mccarthyryanj
Washington Post
shared by Abnormal Returns, @ReformedBroker, @counterparties, @moorehn, @mccarthyryanj
Bitcoin Mints Its First Billionaire: Its Inventor, Satoshi Nakamoto
vice.com
Bitcoin is now worth over $1150, which means the enigmatic crypto-inventor who holds the world’s largest hoard is now, essentially, a billionaire.
shared by @Dasan, @BarbarianCap, @munilass
vice.com
Bitcoin is now worth over $1150, which means the enigmatic crypto-inventor who holds the world’s largest hoard is now, essentially, a billionaire.
shared by @Dasan, @BarbarianCap, @munilass
Penny stock trader: From $1,500 to $1 million in three years
CNNMoney
Tim Grittani began day trading penny stocks with his life savings of $1,500 three years ago. By following the lessons of penny stock guru and million Tim Sykes, the 24-year-old has raked in over $1 million in trading profits.
shared by @cullenroche, @NicTrades, @ReformedBroker, @moorehn, @TMFHousel
CNNMoney
Tim Grittani began day trading penny stocks with his life savings of $1,500 three years ago. By following the lessons of penny stock guru and million Tim Sykes, the 24-year-old has raked in over $1 million in trading profits.
shared by @cullenroche, @NicTrades, @ReformedBroker, @moorehn, @TMFHousel
The Thought Leader
New York Times
Examining the life cycle of a new intellectual paragon that has emerged to command our admiration.
shared by @TheStalwart, @EpicureanDeal, @ObsoleteDogma, @ReformedBroker
New York Times
Examining the life cycle of a new intellectual paragon that has emerged to command our admiration.
shared by @TheStalwart, @EpicureanDeal, @ObsoleteDogma, @ReformedBroker
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