Linkfest: Jobs recovery; SEC’s White puts market structure reform on the agenda; Summers on debt, and when feasible trumps desirable

Categories: Linkfest

Today’s most shared:

  • The US economy has finally recovered the jobs lost in the wake of the financial crisis (although the population has grown).
  • SEC puts market structure reform on the table.
  • Larry Summers gives props to scholars of household balance sheets, explains why more wasn’t done to help under-water homeowners.
  • Perennial arguments of perma-bulls vs. perma-bears, ‘Cash on the sidelines!’ v. ‘Money-printing will destroy fiat currencies!’ And evidence that can be bullish or bearish, depending on which bias you want to confirm.
  • New technology tools let small investors build automated quantitative strategies, act like high frequency traders.
  • Sell-side trading desks brace for cuts as trading revenue falls short.

The Scariest Chart Ever Is Dead
Business Insider
We’ve finally recovered all of the lost jobs from the recession.
shared by @joshchin, @nancefinance, @markgongloff, @TheArmoTrader
S.E.C. Chief Calls for Sweeping Changes to Stock Market Rules
New York Times
The package of recommendations for new rules and other changes, unveiled on Thursday, would touch virtually every corner of the market, including exchanges, private trading venues, brokerage firms and high-frequency traders.
shared by @volatilitysmile, reddit/Economics, @ThemisSal, Crossing Wall Street
Lawrence Summers on ‘House of Debt’
Financial Times
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again, by Atif Mian and Amir Sufi
shared by @BCAppelbaum, @tylercowen, @SonyKapoor, Marginal Revolution, @mark_dow
BofA in talks to pay at least $12 Billion to settle probes
Wall Street Journal
Bank of America is in talks to pay at least $12 billion to settle probes by the Justice Department and a number of states into bank’s alleged handling of shoddy mortgages.
shared by @jennablan, Business Insider, @ritholtz, Naked Capitalism
Why European banks perceive an American vendetta
Wall Street Journal
Is the U.S. pursuing a vendetta against European banks? Executives at big banks and a growing number of European politicians certainly think so.
shared by @Alea_, @LorcanRK, @spignal
Sell in May and Go Away: Still Good Advice for Investors?
The “Sell in May and Go Away” (or Halloween) strategy continues to enjoy great popularity in practice. We explore whether this simple trading rule still offers an opportunity to earn abnormal returns.
shared by @jasonzweigwsj, @ToddSullivan, @abnormalreturns, @JacobWolinsky
Perma-Arguments – A Wealth of Common Sense
“Never argue with stupid people. They will drag you down to their level and then beat you with experience.” – Mark Twain
shared by Abnormal Returns, @munilass, Reformed Broker, @derekhernquist
Ex-Deutsche Bank Trader Said to Face $17 Million Fine
Britain’s markets regulator is seeking to fine former Deutsche Bank AG trader Christian Bittar about 10 million pounds ($17 million) for trying to rig benchmark interest rates.
shared by @davidenrich, @AnjuliDavies
Quantopian enters open beta, invites the world to “come hack Wall Street with us”
For the last year, Quantopian has been a playground for quantitative stock traders.Users have been using the company’s platform to write custom algorithms to paper trade against live stock market data and backtest against historical data. Investors can now for the first time put real money to work.
shared by Abnormal Returns, @JacobWolinsky, @ritholtz
What Happens When the Economy Baffles Economists?
Bloomberg View
Understanding economics is somewhere off in the future…and always will be.
shared by @MarkThoma, @ReformedBroker, @JustinWolfers, @Noahpinion, reddit/Economics
Jobs are on the line as banks’ revenue slides
Wall Street Journal
Slammed by declining revenue, the trading businesses inside the biggest global investment banks are expected to suffer job losses that could run into the thousands by year-end.
shared by @jennablan, NYT Dealbook, @morningmoneyben
Former Treasury secretary Timothy Geithner on lessons learned from the financial crisis
Wall Street Journal
The former Treasury secretary speaks candidly about lessons learned from the financial crisis—and the "scars" from leftover challenges.
shared by @tylercowen, @Alea_, @mark_dow follows the best ‘curators’ on the web and social media, and finds all the top financial news right now, as voted by you.

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