Linkfest: Michael Lewis says HFT means market is ‘rigged’; Profit margins; The top 0.01%
Categories: Linkfest
Today’s most shared:
- Media frenzy over HFT as bestselling author Michael Lewis says market is ‘rigged.’
- Profit margins – when foreign earnings are excluded, S&P margins look more sustainable.
- It’s not about the top 1%, it’s about the top 0.01%…Was Marx right, does capitalism concentrate wealth and power, while everyone else scrambles for a job restocking empty shelves at Walmart?
- Is it hard to get a mortgage because of ‘legalized extortion’ by regulators, or because securitization and servicing lead to inefficiencies and misaligned incentives?
- Does education teach kids not to take risks? Are those who successfully navigate their way through academia doomed to high-paying jobs carrying water for college dropouts who took risks?
An Adaptation From ‘Flash Boys: A Wall Street Revolt,’ by Michael Lewis
New York Times
How a band of outsiders discovered that the stock market was rigged — and set out to change it.
shared by @ritholtz, reddit/Economics, @Ian_Fraser, @ObsoleteDogma
New York Times
How a band of outsiders discovered that the stock market was rigged — and set out to change it.
shared by @ritholtz, reddit/Economics, @Ian_Fraser, @ObsoleteDogma
Is the U.S. stock market rigged?
CBS News
Steve Kroft reports on a new book from Michael Lewis that reveals how some high-speed traders work the stock market to their advantage.
shared by Abnormal Returns, @ThemisSal, @cate_long, @Dvolatility, @JohnLothian
CBS News
Steve Kroft reports on a new book from Michael Lewis that reveals how some high-speed traders work the stock market to their advantage.
shared by Abnormal Returns, @ThemisSal, @cate_long, @Dvolatility, @JohnLothian
“The Stock Market is Rigged!”
The Reformed Broker
Yes, I’m excited about Michael Lewis’s new book Flash Boys coming out this week but no, I don’t get worked up about high frequency trading anymore.
shared by @derekhernquist, @TheStalwart, @JacobWolinsky, @ritholtz
The Reformed Broker
Yes, I’m excited about Michael Lewis’s new book Flash Boys coming out this week but no, I don’t get worked up about high frequency trading anymore.
shared by @derekhernquist, @TheStalwart, @JacobWolinsky, @ritholtz
Profit Margins: The Death of a Chart
philosophicaleconomics.wordpress.com
In the debate on profit margins, two different types of charts frequently appear. The first chart is a chart of the aggregate profit margin of the S&P 500. The second chart is the chart of corporate profit as a percentage of GDP. I’m going to explain how to accurately calculate the true corporate profit margin using macroeconomic data.
shared by @TheStalwart, @MichaelKitces, @mccarthyryanj, @M_C_Klein
philosophicaleconomics.wordpress.com
In the debate on profit margins, two different types of charts frequently appear. The first chart is a chart of the aggregate profit margin of the S&P 500. The second chart is the chart of corporate profit as a percentage of GDP. I’m going to explain how to accurately calculate the true corporate profit margin using macroeconomic data.
shared by @TheStalwart, @MichaelKitces, @mccarthyryanj, @M_C_Klein
How You, I, and Everyone Got the Top 1 Percent All Wrong
The Atlantic
Unveiling the real story behind the richest of the rich.
shared by @SonyKapoor, Reformed Broker, @reddy, @ReformedBroker
The Atlantic
Unveiling the real story behind the richest of the rich.
shared by @SonyKapoor, Reformed Broker, @reddy, @ReformedBroker
Measuring Wealth Inequality
houseofdebt.org
The sharp rise in income inequality in the United States is well-established. But what about wealth inequality?
shared by @mccarthyryanj, Business Insider, reddit/Economics, @delong
houseofdebt.org
The sharp rise in income inequality in the United States is well-established. But what about wealth inequality?
shared by @mccarthyryanj, Business Insider, reddit/Economics, @delong
Was Marx Right? – Room for Debate
New York Times
While Marx’s prediction of our political future was finally discredited with the fall of communism, is his view of our economic future being validated?
shared by Naked Capitalism, Marginal Revolution
New York Times
While Marx’s prediction of our political future was finally discredited with the fall of communism, is his view of our economic future being validated?
shared by Naked Capitalism, Marginal Revolution
Wal-Mart has a lower acceptance rate than Harvard
Washington Post
Compared to landing a job at Wal-Mart, getting into the Ivy Leagues is a cakewalk.
shared by @nichcarlson, @Alea_, @TimHarford, @davidmwessel, @hblodget, @moorehn
Washington Post
Compared to landing a job at Wal-Mart, getting into the Ivy Leagues is a cakewalk.
shared by @nichcarlson, @Alea_, @TimHarford, @davidmwessel, @hblodget, @moorehn
Weidmann plays tactical game with moderation of tone on ECB policy
Financial Times
The arch hawk of the European Central Bank has frequently found himself in a minority of one. But for Jens Weidmann, the appeal of being the person who is convinced everyone else is wrong appears to have waned.
shared by @LemaSabachthani, @davidmwessel, @FGoria, @NickMalkoutzis
Financial Times
The arch hawk of the European Central Bank has frequently found himself in a minority of one. But for Jens Weidmann, the appeal of being the person who is convinced everyone else is wrong appears to have waned.
shared by @LemaSabachthani, @davidmwessel, @FGoria, @NickMalkoutzis
Welcome to China’s political gamble of the century
theguardian.com
Timothy Garton Ash: President Xi Jinping has put the burden of modernisation squarely on the single ruling party. It is quite an experiment.
shared by @goldkorn, @peter_tl, @gadyepstein, @larsonchristina
theguardian.com
Timothy Garton Ash: President Xi Jinping has put the burden of modernisation squarely on the single ruling party. It is quite an experiment.
shared by @goldkorn, @peter_tl, @gadyepstein, @larsonchristina
China seizes $14.5 billion assets from family, associates of ex-security chief – sources
Reuters
Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, two sources said.
shared by @prchovanec, @kmac, @Convertbond, reddit/Economics, @TomLasseter
Reuters
Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, two sources said.
shared by @prchovanec, @kmac, @Convertbond, reddit/Economics, @TomLasseter
Big data: are we making a big mistake?
Financial Times
Big data is a vague term for a massive phenomenon that has rapidly become an obsession with entrepreneurs, scientists, governments and the media.
shared by Naked Capitalism, reddit/Economics, @Noahpinion
Financial Times
Big data is a vague term for a massive phenomenon that has rapidly become an obsession with entrepreneurs, scientists, governments and the media.
shared by Naked Capitalism, reddit/Economics, @Noahpinion
Christopher Whalen: So what is today’s nonbank business model?
HousingWire
So far 2014 is turning into a mixed bag for nonbank financial firms focused on the mortgage sector. And it’s not likely to change given the current regulatory attitude that amounts to nothing short of the legalized extortion of the mortgage business.
shared by Naked Capitalism, @AlephBlog
HousingWire
So far 2014 is turning into a mixed bag for nonbank financial firms focused on the mortgage sector. And it’s not likely to change given the current regulatory attitude that amounts to nothing short of the legalized extortion of the mortgage business.
shared by Naked Capitalism, @AlephBlog
It’s My Fault You Can’t Get a Mortgage
creditslips.org
Can’t get a mortgage? Turns out it’s my fault. As in mine, personally. Yup. That’s the claim in a Housing Wire written by right-wing banking analyst R. Christopher Whalen.
shared by Naked Capitalism, @Kiffmeister
creditslips.org
Can’t get a mortgage? Turns out it’s my fault. As in mine, personally. Yup. That’s the claim in a Housing Wire written by right-wing banking analyst R. Christopher Whalen.
shared by Naked Capitalism, @Kiffmeister
In Some Ways, It’s Looking Like 1999 in the Stock Market
New York Times
A surge in Internet and biotech stock values recalls an earlier bubble. But prices of other stocks seem more tethered to reality.
shared by @bespokeinvest, reddit/Economics, @SaraEisen, @wonkmonk_
New York Times
A surge in Internet and biotech stock values recalls an earlier bubble. But prices of other stocks seem more tethered to reality.
shared by @bespokeinvest, reddit/Economics, @SaraEisen, @wonkmonk_
Go Ahead, Let Your Kids Fail
bloombergview.com
If we want a society that dreams new things and then makes them happen, why do we teach the next generation to do the exact opposite?
shared by @carney, @ModeledBehavior, @Noahpinion, @delong, @howardlindzon
bloombergview.com
If we want a society that dreams new things and then makes them happen, why do we teach the next generation to do the exact opposite?
shared by @carney, @ModeledBehavior, @Noahpinion, @delong, @howardlindzon
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