Contracting GDP Is Rare Outside of Recessions
Wall Street Journal
The U.S. economy contracted at a 1% seasonally adjusted annual pace in the first three months of the year. That doesn’t mean the U.S. is in a new recession, at least according to the economists who make that determination.
shared by @BCAppelbaum, @ObsoleteDogma, @counterparties
 

Fink Says Leveraged ETFs May ‘Blow Up’ Industry
Bloomberg
BlackRock Inc.’s Laurence D. Fink, who oversees the world’s biggest exchange-traded fund lineup, said leveraged ETFs are a structural problem and have the potential to “blow up” the industry.
shared by Here Is The City, Naked Capitalism, @JohnLothian, @TheIntuitInvest
 

2014 Internet Trends — Kleiner Perkins Caufield Byers
kpcb.com
Mary Meeker’s well-known comprehensive annual review.
shared by @firstadopter, @danprimack, @kaylatausche, @Bill_Gross
 

Piketty’s Capital: An Economist’s Inequality Ideas Are All the Rage
Bloomberg Businessweek
The French economist’s tome, Capital in the Twenty-First Century, fuels the impassioned debate on inequality.
shared by @ryanchittum, @PreetaTweets, @IvanTheK, @larsonchristina, @Bloomberg
 

Haldane on inequality
Bank of England
shared by @GavanNolan, @graemewearden, @davidmwessel, @RANsquawk
 

Follow up on problems in “Capital in the 21st Century”
Financial Times
Ever since the Financial Times wrote articles pointing to data problems in Professor Thomas Piketty’s best-selling book, there has been quite a heated reaction online and in print.
shared by @TheStalwart, reddit/Economics, Marginal Revolution
 

Europe has an even bigger crisis on its hands than a British exit
The Telegraph
British people will vote to leave the EU unless offered a new dispensation, writes Ambrose Evans-Pritchard.
shared by @DougKass, @JacobWolinsky, @tomkeene, @FGoria, @mhewson_CMC
 

Ackman Plans Public Hedge Fund
New York Times
William A. Ackman of Pershing Square Capital Management plans to raise money for a closed-end fund that could list on the London Stock Exchange.
shared by @jennablan, @MattGoldstein26, @ritholtz, @JacobWolinsky
 

Want to spot the next bubble? Look at where Harvard grads work.
Washington Post
The more Harvard grads that head for Wall Street, the worse a sign it is for markets.
shared by NYT Dealbook, @JacobWolinsky, @mccarthyryanj, @Noahpinion
 

Is It Still Insider Trading If You’re an Idiot?
Bloomberg View
For weird philosophy of language inquiries it is hard to beat an insider trading decision from a U.K. appeals tribunal.
shared by @LaurenLaCapra, @EpicureanDeal, @John_Hempton, @JacobWolinsky
 

Paper money is unfit for a world of high crime and low inflation
Financial Times
Has the time come to consider phasing out anonymous paper currency, starting with large-denomination notes? Getting rid of physical currency and replacing it with electronic money would kill two birds with one stone.
shared by @ObsoleteDogma, @edwardnh, Naked Capitalism, @MarkThoma, @M_C_Klein
 

Apple Confirms Its $3 Billion Deal for Beats Electronics
New York Times
In a move that will help Apple play catch-up with rivals that offer subscription-based music services, the company will offer both Beats’s streaming music service and its premium headphones.
shared by @jennablan, @MattGoldstein26, @Techmeme, @IvanTheK, @davewiner