Linkfest: France cries foul over BNP fine; Do long uptrend and complacency belie rising risk? The world’s smallest, richest hedge fund
Categories: Linkfest
Today’s most shared:
- French see red over US effort to make an example of BNP, while other banks get away with murder. Not to mention BNP can ill afford $10b hit to capital.
- Are markets overbought, as complacency rules? Technical analysts note that stocks have spent over 400 days above their 200-day moving average, a historical anomaly. Others recall studies showing how much retail investors who used technical analysis underperformed buy-and-hold.
- Ex-Baupost manager runs $8b hedge fund out of tiny Boston office.
- John Oliver explains: It’s not ‘net neutrality,’ it’s a crony capitalist cashectomy on tech companies by a monopoly that has captured regulators. Tech shouldn’t expect regulated industries like finance (never mind taxis), to take ‘disruption’ lying down.
French Officials Twist U.S. Arms in Bank Inquiry
New York Times
The French banking giant BNP Paribas has enlisted the support of its own government, which has raised concerns that a looming penalty for doing business with Sudan and Iran is unduly harsh.
shared by @davidenrich, Naked Capitalism, @morningmoneyben, @JoshRosner, @MattGoldstein26
New York Times
The French banking giant BNP Paribas has enlisted the support of its own government, which has raised concerns that a looming penalty for doing business with Sudan and Iran is unduly harsh.
shared by @davidenrich, Naked Capitalism, @morningmoneyben, @JoshRosner, @MattGoldstein26
BNP Fine Stirs French Anger, Pressuring Hollande to Act
Bloomberg
The French are crying foul.
shared by @lucymarcus, NYT Dealbook, Here Is The City, @HamzeiAnalytics, @firoozye
Bloomberg
The French are crying foul.
shared by @lucymarcus, NYT Dealbook, Here Is The City, @HamzeiAnalytics, @firoozye
Global watchdogs rattled by lack of fear in the markets
The Telegraph
A storm alert today from Simon Derrick at the Bank of New York Mellon. He cites three warnings from leading central bankers, all alarmed by the remarkable disregard for risk in the equity, credit, and currency markets.
shared by @DougKass, @ReformedBroker, @EconBrothers, Reformed Broker, @mhewson_CMC
The Telegraph
A storm alert today from Simon Derrick at the Bank of New York Mellon. He cites three warnings from leading central bankers, all alarmed by the remarkable disregard for risk in the equity, credit, and currency markets.
shared by @DougKass, @ReformedBroker, @EconBrothers, Reformed Broker, @mhewson_CMC
The hedge-fund world’s one-man cash machine
Wall Street Journal
David Abrams has personally become a billionaire and earned billions more for his wealthy investors over the past five years running what is effectively a one-man shop.
shared by @firstadopter, @jennablan, @derekhernquist, @nancefinance
Wall Street Journal
David Abrams has personally become a billionaire and earned billions more for his wealthy investors over the past five years running what is effectively a one-man shop.
shared by @firstadopter, @jennablan, @derekhernquist, @nancefinance
Seattle City Council approves historic $15 minimum wage
seattletimes.com
Seattle City Council approves a $15 minimum wage, creating a path over the next seven years to provide the highest minimum wage in the country.
shared by @davidmwessel, Naked Capitalism, @morningmoneyben, @TheStalwart
seattletimes.com
Seattle City Council approves a $15 minimum wage, creating a path over the next seven years to provide the highest minimum wage in the country.
shared by @davidmwessel, Naked Capitalism, @morningmoneyben, @TheStalwart
Stone & McCarthy Economist Finds Market-Roiling ISM Error
Bloomberg
An economist at Stone & McCarthy Research Associates spotted an error in a closely followed index on U.S. manufacturing activity that led to the report being corrected — twice.
shared by NYT Dealbook, @moorehn
Bloomberg
An economist at Stone & McCarthy Research Associates spotted an error in a closely followed index on U.S. manufacturing activity that led to the report being corrected — twice.
shared by NYT Dealbook, @moorehn
Lehman Lesson Lost as Bank Lobby Gains Clout, Reinfeldt Says
Bloomberg
Sweden’s Prime Minister Fredrik Reinfeldt said the world risks forgetting the lessons of the financial crisis as the bank lobby gains dominance.
shared by @finansakrobat, Here Is The City, @lucymarcus, @edwardnh
Bloomberg
Sweden’s Prime Minister Fredrik Reinfeldt said the world risks forgetting the lessons of the financial crisis as the bank lobby gains dominance.
shared by @finansakrobat, Here Is The City, @lucymarcus, @edwardnh
Pay rises for senior bankers hit 10%
Financial Times
Banking chief executives received an average pay rise of 10 per cent last year as US banks handed their heads much more generous packages than their European rivals.
shared by @GTCost, @markgongloff, @FGoria, @yvessmith, @morningmoneyben
Financial Times
Banking chief executives received an average pay rise of 10 per cent last year as US banks handed their heads much more generous packages than their European rivals.
shared by @GTCost, @markgongloff, @FGoria, @yvessmith, @morningmoneyben
FEDS Notes: The effect of labor slack on wages: Evidence from state-level relationships
Federal Reserve
State data shows a reserve army of the long-term unemployed serves to keep a cap on wage growth.
shared by @BCAppelbaum, @ObsoleteDogma, @pdacosta, @delong
Federal Reserve
State data shows a reserve army of the long-term unemployed serves to keep a cap on wage growth.
shared by @BCAppelbaum, @ObsoleteDogma, @pdacosta, @delong
Fed-induced wealth raw deal for 99%: Piketty
CNBC
Jump-starting growth has relied too much on the Fed and not enough on fiscal policy, French economist and author Thomas Piketty tells CNBC.
shared by @graemewearden, @SonyKapoor, @nasiripour, @eisingerj
CNBC
Jump-starting growth has relied too much on the Fed and not enough on fiscal policy, French economist and author Thomas Piketty tells CNBC.
shared by @graemewearden, @SonyKapoor, @nasiripour, @eisingerj
The housing crash did nothing to tamp our appetite for enormous houses
Washington Post
The unstoppable rise of three-car garages, fourth bedrooms and third baths.
shared by @markgongloff, Calculated Risk, @mccarthyryanj
Washington Post
The unstoppable rise of three-car garages, fourth bedrooms and third baths.
shared by @markgongloff, Calculated Risk, @mccarthyryanj
80 Weeks And Counting…
shortsideoflong.com
Chart 1: The current market rally has spent 80 weeks above its 200 MA!!!
shared by Abnormal Returns, @ReformedBroker, @TheArmoTrader
shortsideoflong.com
Chart 1: The current market rally has spent 80 weeks above its 200 MA!!!
shared by Abnormal Returns, @ReformedBroker, @TheArmoTrader
Technical Analysis Drags Down Performance
rickferri.com
shared by Abnormal Returns, Reformed Broker, @JacobWolinsky
rickferri.com
shared by Abnormal Returns, Reformed Broker, @JacobWolinsky
Is Silicon Valley the Future of Finance?
New York
Banking is a prime candidate for disruption because it tends to run on bloated, creaky technology.
shared by @kaylatausche, @abnormalreturns, NYT Dealbook, Abnormal Returns
New York
Banking is a prime candidate for disruption because it tends to run on bloated, creaky technology.
shared by @kaylatausche, @abnormalreturns, NYT Dealbook, Abnormal Returns
John Oliver: Stop Calling It Net Neutrality; It’s ’Preventing Cable Company F**kery’
techdirt.com
In last night’s John Oliver show (technically "Last Week Tonight"), his "top story" was all about net neutrality.
shared by @howardlindzon, @Techmeme, @UpshotNYT
techdirt.com
In last night’s John Oliver show (technically "Last Week Tonight"), his "top story" was all about net neutrality.
shared by @howardlindzon, @Techmeme, @UpshotNYT
Voices from Tiananmen
scmp.com
June 4 marks the 25th anniversary of a brutal military crackdown on pro-democracy protests led by students and residents in Beijing.In the following pages, former government officials, student leaders and other eyewitnesses revisit the momentous events of spring, 1989.
shared by @niubi, @peter_tl, @vshih2, @TonyTassell, @MalcolmMoore, @taniabranigan
scmp.com
June 4 marks the 25th anniversary of a brutal military crackdown on pro-democracy protests led by students and residents in Beijing.In the following pages, former government officials, student leaders and other eyewitnesses revisit the momentous events of spring, 1989.
shared by @niubi, @peter_tl, @vshih2, @TonyTassell, @MalcolmMoore, @taniabranigan
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