Linkfest: Global growth still sputters; TBTF banks; Croesus-like hedge fund managers average mediocre returns
Categories: Linkfest
Today’s most shared:
- Weak economies worldwide, US tapering on track as ECB picks up QE baton.
- How do hedge funds get away with charging a king’s ransom for lackluster returns?
- David Tepper is the new man of the moment. (Cue BusinessWeek cover, Paulson-style mean reversion, and features asking if he’s lost it, in 3…2…1…)
- Remember when George Soros became the ‘It Guy?’
- Part 3 of epic Financial Times tick-tock on euro crisis.
- Earnings are an opinion, cash is a fact.
- The social web, including linkfests, social media like Twitter and StockTwits, and news aggregators like Buzzfeed and Flipboard (not to forget your humble blogger’s StreetEYE.com) are the new front page of the New York Times and Wall Street Journal.
- How Wall Street preys on the insecurity of college grads to make them well-paid beasts of burden doing the heavy lifting in the bowels of the deal-making machine.
- Deutsche Bank’s IB head tells traders to wash their mouths out with soap. Drop the F-word, drop a Krugerrand in the swear jar.
Soft economies worldwide have policy makers groping for what to do next
Wall Street Journal
Five years after the financial crisis ended, soft growth in Europe, a stop-and-start U.S. recovery and waning momentum in China have policy makers groping for what to do next.
shared by @delong, @jennablan, Naked Capitalism, @prchovanec
Wall Street Journal
Five years after the financial crisis ended, soft growth in Europe, a stop-and-start U.S. recovery and waning momentum in China have policy makers groping for what to do next.
shared by @delong, @jennablan, Naked Capitalism, @prchovanec
At Last, Recovery Heads Where the Fed Wants It
New York Times
Several indicators of economic health, notably the Consumer Price Index and the Producer Price Index, finally seem to be moving in the direction the Federal Reserve says is needed for a strong recovery.
shared by Crossing Wall Street, @CMEGroup
New York Times
Several indicators of economic health, notably the Consumer Price Index and the Producer Price Index, finally seem to be moving in the direction the Federal Reserve says is needed for a strong recovery.
shared by Crossing Wall Street, @CMEGroup
In Gundlach’s `No Normal’ World, U.S. Treasuries Just Can’t Lose
Bloomberg
Blame the harsh winter for stifling economic growth or tensions in Ukraine for sparking demand for havens.
shared by @JacobWolinsky, @ReformedBroker, @StockJockey, @AlephBlog
Bloomberg
Blame the harsh winter for stifling economic growth or tensions in Ukraine for sparking demand for havens.
shared by @JacobWolinsky, @ReformedBroker, @StockJockey, @AlephBlog
Nassim Taleb, Larry Summers fight it out over too-big-to-fail. #SALT2014
MarketWatch
"Black Swan" author Nassim Taleb and former Treasury secretary and White House adviser Larry Summers wage an epic battle over too-big-to-fail banks, captivating the SALT hedge-fund conference in Las Vegas Thursday.
shared by @AmyResnick, @ModeledBehavior, @Noahpinion
MarketWatch
"Black Swan" author Nassim Taleb and former Treasury secretary and White House adviser Larry Summers wage an epic battle over too-big-to-fail banks, captivating the SALT hedge-fund conference in Las Vegas Thursday.
shared by @AmyResnick, @ModeledBehavior, @Noahpinion
The Right Way to Control the Banks
nybooks.com
The most pressing task of financial reform must be to strongly limit the risks posed to the economy by large banks and other financial institutions that borrow so much. The best way to achieve this goal is to explicitly limit the extent to which they borrow to fund their operations.
shared by @anatadmati, @EmanuelDerman, @MarkThoma
nybooks.com
The most pressing task of financial reform must be to strongly limit the risks posed to the economy by large banks and other financial institutions that borrow so much. The best way to achieve this goal is to explicitly limit the extent to which they borrow to fund their operations.
shared by @anatadmati, @EmanuelDerman, @MarkThoma
‘If the euro falls, Europe falls’
Financial Times
As soon as Angela Merkel was handed the piece of paper Barack Obama had just passed around the table, her guard went up. “What is this?” the German chancellor asked. “I haven’t seen this before.”
shared by @SonyKapoor, @NickMalkoutzis, @EfiEfthimiou, @mhewson_CMC
Financial Times
As soon as Angela Merkel was handed the piece of paper Barack Obama had just passed around the table, her guard went up. “What is this?” the German chancellor asked. “I haven’t seen this before.”
shared by @SonyKapoor, @NickMalkoutzis, @EfiEfthimiou, @mhewson_CMC
Lunch with the FT: Tim Geithner
Financial Times
The restaurant is empty and I am shown to a table in an alcove near the entrance, where I wait for my guest, Tim Geithner,
shared by @foxjust, Naked Capitalism, @FGoria, @DLeonhardt, @TimHarford
Financial Times
The restaurant is empty and I am shown to a table in an alcove near the entrance, where I wait for my guest, Tim Geithner,
shared by @foxjust, Naked Capitalism, @FGoria, @DLeonhardt, @TimHarford
How Do Hedge Funds Get Away With It? Eight Theories
New Yorker
Hedge funds bestow great riches on their managers even though their performances often seem pretty ordinary.
shared by @GZuckerman, @MattGoldstein26, @Noahpinion, @TimHarford
New Yorker
Hedge funds bestow great riches on their managers even though their performances often seem pretty ordinary.
shared by @GZuckerman, @MattGoldstein26, @Noahpinion, @TimHarford
The Apotheosis of David Tepper
The Reformed Broker
Apotheosis: Exaltation to divine rank or stature; the elevation of a person to the rank of a god; deification Late Latin, from Greek apotheōsis, from apotheoun to deify, from apo- + theos god.
shared by @jasonzweigwsj, @reddy, @abnormalreturns, @ritholtz
The Reformed Broker
Apotheosis: Exaltation to divine rank or stature; the elevation of a person to the rank of a god; deification Late Latin, from Greek apotheōsis, from apotheoun to deify, from apo- + theos god.
shared by @jasonzweigwsj, @reddy, @abnormalreturns, @ritholtz
For Great Returns, Follow the Cash
millennialinvest.com
Earnings get all the attention on Wall Street. While earnings are of course important (and measures like P/E are very useful in stock selection), they aren’t everything. Less discussed, but equally important, is the cash that is flowing into and out of a company.
shared by @abnormalreturns, @MichaelKitces, @M_C_Klein, @TMFHousel
millennialinvest.com
Earnings get all the attention on Wall Street. While earnings are of course important (and measures like P/E are very useful in stock selection), they aren’t everything. Less discussed, but equally important, is the cash that is flowing into and out of a company.
shared by @abnormalreturns, @MichaelKitces, @M_C_Klein, @TMFHousel
Market priesthood
Noahpinion
Has economics really become less about “free market priesthood”?
shared by @TheStalwart, @mccarthyryanj, reddit/Economics, @delong
Noahpinion
Has economics really become less about “free market priesthood”?
shared by @TheStalwart, @mccarthyryanj, reddit/Economics, @delong
The homepage is dead, and the social web has won—even at the New York Times
Quartz
Traffic to the New York Times homepage fell by half in the last two years, according to the newspaper’s internal review of its digital strategy.
shared by @StKonrath, @AntDeRosa, @tomkeene, @JacobWolinsky, @davewiner
Quartz
Traffic to the New York Times homepage fell by half in the last two years, according to the newspaper’s internal review of its digital strategy.
shared by @StKonrath, @AntDeRosa, @tomkeene, @JacobWolinsky, @davewiner
The Trade of the Century: When George Soros Broke the British Pound
priceonomics.com
How George Soros made his fortune on a daring bet against the British pound and Bank of England.
shared by @MissTrade, @TheStalwart, @ToddSullivan, reddit/Economics, @newsycombinator
priceonomics.com
How George Soros made his fortune on a daring bet against the British pound and Bank of England.
shared by @MissTrade, @TheStalwart, @ToddSullivan, reddit/Economics, @newsycombinator
How Wall Street recruits so many insecure Ivy League grads
vox.com
It’s the perfect place for scared organization kids.
shared by Abnormal Returns, @kevinroose, @ezraklein
vox.com
It’s the perfect place for scared organization kids.
shared by Abnormal Returns, @kevinroose, @ezraklein
Deutsche Bank warns traders in video over boasting, vulgarity
Financial Times
Deutsche Bank traders: you have been warned. Boasting, vulgar comments and indiscretion are “not OK”.
shared by @fiatcurrency, @kaylatausche, @TheIntuitInvest, @IvanTheK
Financial Times
Deutsche Bank traders: you have been warned. Boasting, vulgar comments and indiscretion are “not OK”.
shared by @fiatcurrency, @kaylatausche, @TheIntuitInvest, @IvanTheK
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