Alibaba’s Link to Elite Military Family Is Etched in Stone
New York Times – 32 minutes ago
An ancestral tablet at a Chinese tomb shows how an executive who profited from Alibaba’s acquisition of her company is connected to a family of prominent generals.
Parallels to 1937
Project Syndicate – 3 days ago
The depression that followed the 1929 stock-market crash took a turn for the worse eight years later, and recovery came only with the enormous economic stimulus provided by World War II, a conflict that cost more than 60 million lives. The ...
Business Insider: ROBERT SHILLER: Beware The Psychological Impacts Of Russian Sanctions (DIA, SPY, QQQ, TLT, RSX, ESR, POL)
@fiatcurrency: Parallels to 1937 [link]
@FGoria: Parallels to 1937 [link] by Robert J. Shiller
@tomkeene: RT @DougKass: Bob Shiller/Project Syndicate: Eerie parallels to 1937[link]
@DougKass: Bob Shiller/Project Syndicate: Eerie parallels to 1937[link]
Sun and Wind Alter Global Landscape, Leaving Utilities Behind
New York Times – 14 hours ago
Electric utility executives all over the world are watching nervously as technologies they once dismissed as irrelevant begin to threaten their long-established business plans.
A Global Growth Slowdown?
blackrockblog.com – 5 days ago
As 2014 is shaping up to be another year of below-trend economic growth, many investors are wondering: Is economic growth once again slowing? Russ explains why his answer is no.
Business Insider: The Number Of Americans Looking For Financial Advice Is Small, But Growing
@iShares: Is this the year the global economy escapes historically low growth? Find out [link]
@FGoria: RT @blackrock: The major trend in the global economy today (hint: It’s not slower growth) [link]
@Noahpinion: Global growth does not appear to be slowing down. [link]
Scots War Games Haunt U.K. Elite Bracing for Referendum
Bloomberg – 5 hours ago
As Scotland stares history in the face, London’s financial guardians are preparing for their worst-case scenario.
Show us the money: EU seeks billions of euros to revive economy
Reuters – 22 hours ago
MILAN Italy (Reuters) - The European Union sought ways on Saturday to marshal billions of euros into its sluggish economy without getting deeper into debt, considering options from a pan-European capital
@HamzeiAnalytics: Show us the money: #EU seeks billions of #euros to revive #economy [link] via @reuters #forex
@pdacosta: EU seeks billions of euros to revive economy, considers pan-European capital market [link]
@gusbaratta: RT @pdacosta: EU seeks billions of euros to revive economy, considers pan-European capital market [link]
Treasure Map: The NSA Breach of Telekom and Other German Firms
Der Spiegel – 15 hours ago
According to top-secret documents from the NSA and the British agency GCHQ, the intelligence agencies are seeking to map the entire Internet, including end-user devices. In pursuing that goal, they have broken into networks belonging to Deu...
@jmackin2: "CEO Steffen commented on the document with a terse ’Fuck!’" NSA/GCHQ hacks of German telco [link]
@volatilitysmile: RT @SPIEGEL_English: Treasure Map: The NSA Breach of Telekom and Other German Firms [link]
@newsycombinator: Snowden Documents Indicate NSA Has Breached Deutsche Telekom [link]
@niubi: RT @jmackin2: "CEO Steffen commented on the document with a terse ’Fuck!’" NSA/GCHQ hacks of German telco [link]
@Techmeme: Seeking to map the entire internet, NSA and GHCQ have broken into Deutsche Telekom networks [link] [link]
An anti-euro surge in Germany? The evidence vs the coverage
theguardian.com – 9 hours ago
The “Alternative for Germany” won seats in a state parliament election for the first time last Sunday, but is there really an anti-euro surge in the country as media coverage suggests?
A Fireside Chat With Charlie Munger
Wall Street Journal – 2 days ago
Excerpts from a lengthy conversation with Berkshire Vice Chairman Charlie Munger.
@firstadopter: A Fireside Chat With Charlie Munger [link] via @WSJMoneyBeat
@HamzeiAnalytics: RT @WSJ: Advice from Charlie Munger: "Knowing what you don’t know is more useful than being brilliant." [link]
@abnormalreturns: Must read. RT @jasonzweigwsj Exclusive: A Fireside Chat With Charlie Munger [link] #WSJ $DJCO $BRKA $BRKB
Business Insider: CHARLIE MUNGER: ’Ben Graham Had A Lot To Learn As An Investor’ (DIA, SPY, QQQ, TLT, BRKB, BRKA, DJCO)
@BarbarianCap: RT @MktOutperform: A Fireside Chat With Charlie Munger...[link] [link]
@AlephBlog: A Fireside Chat With Charlie Munger [link] On Derivatives: "It makes the people who run Las Vegas seem like good people." $$
@JacobWolinsky: RT @awealthofcs: Munger on institutional investors...it’s funny cause it’s true [link] via @jasonzweigwsj [link]…
@ReformedBroker: Charlie Munger spoke over an open mic for two hours this week and @jasonzweigwsj has the highlights. [link]
@MebFaber: RT @jasonzweigwsj: Exclusive: A Fireside Chat With Charlie Munger [link] #WSJ
Abnormal Returns: Sunday links: standard shallow risks
@TMFHousel: "Knowing what you don’t know is more useful than being brilliant." Great stuff @jasonzweigwsj [link]
We’ve Just Witnessed The First True Masterpiece Of The Modern Hedge Fund Era
Business Insider – 1 day ago
A breathtaking takedown of The Olive Garden.
Abnormal Returns: Sunday links: standard shallow risks
@hedge_funds: We’ve Just Witnessed The First True Masterpiece Of The Modern Hedge Fund Era - Business Insider [link]
@ATabarrok: RT @TheStalwart: We’ve just witnessed the first true masterpiece of the modern hedge fund era. [link] [link]
@IvanTheK: Weisenthal Gives Starboard 4 Stars"Page after devastating page of... takedown.""I’m in love with that presentation"[link]
Lunch with the FT: Christine Lagarde
Financial Times – 2 days ago
Christine Lagarde sits at a table in an Indian restaurant in the heart of Washington and smiles winningly at the waiter. She arrived barely a minute ago, precisely on time for our scheduled appointment, in a swirl of elegant cream: chic Cha...
@davidmwessel: Christine Lagarde offers to belly-dance for Congress to get IMF quota/governance bill through [link]? [link]
@FGoria: Lunch with the FT: Christine @Lagarde [link] A must read by @gilliantett #metoo
@taniabranigan: RT @lionelbarber: Gillian Tett has a lively lunch with Christine Lagarde #imf [link]
@spignal: If Christine Lagarde’s partner wants to find out what surprise she has planned for his 60th birthday, it’s in the FT [link]
@SallieKrawcheck: Interesting Lunch with the @FT interview of @Lagarde @GillianTett [link]
Competition Is for Losers
Wall Street Journal – 2 days ago
Americans mythologize economic competition, but it’s actually the opposite of capitalism. If you want to create and capture lasting value, writes Peter Thiel, look to build a monopoly.
@firstadopter: Must read -> Peter Thiel: Competition is for losers [link] via @WSJ
@MParekh: Not just Greed that’s good: @PeterThiel on #Monopolies [link] Author "Zero to One": [link] #Books #Startups
@mccarthyryanj: "Creative monopolists give customers more choices by adding entirely new categories of abundance to the world" [link]
@ritholtz: JACKASS ALERT: If you want to create and capture lasting value, build a monopoly, writes Peter Thiel [link]
reddit/Economics: Peter Thiel: Competition Is for Losers
@ReformedBroker: If you want to understand the mind of our Tech Robber Barons, look no further than Peter Thiel’s ode to monopolies [link]
@JoeSaluzzi: Competition is for losers: If you want to create and capture lasting value, build a monopoly, writes Peter Thiel [link]
@EpicureanDeal: Peter Thiel is cute. He repeats Google’s motto “Don’t be evil” like it still means anything: [link]
@counterparties: Peter Thiel passes Go, collects $200, and channels his inner Rockefeller [link]
@newsycombinator: Peter Thiel: Competition is for losers [link]
Are Subprime Mortgages Coming Back?
New York Times – 5 days ago
Six years after the housing bust, the return of riskier mortgage lending may be inevitable — and welcome.
@davidenrich: NYT’s @BCAppelbaum calls for a revival of US subprime-mortgage lending. [link]
@markgongloff: RT @BCAppelbaum: Time for a subprime lending revival? My latest for @NYTmag : [link]
@NickTimiraos: All is not well with subprime (auto) lending [link] we need more subprime (mortgage) lending? [link]
@MattGoldstein26: Are Subprime Mortgages Coming Back?, via @nytimes [link]
Banks Did It Apple’s Way in Payments by Mobile
New York Times – 2 days ago
The eagerness of banks and card companies to work with Apple on its mobile payment system suggests Apple’s clout and the concern financial players have for their future.
Business Insider: Chase Execs Used A Secret Code To Signal When They Could Talk About Apple Pay (AAPL)
@ritholtz: Banks Did It Apple’s Way in Payments by Mobile [link] via @dealbook
@interfluidity: MasterCard on Pay: “We want to invest in programs that respect our role in the ecosystem” [link] crazy ones misfits rebels.
@Techmeme: Apple Pay charged a lower transaction rate by banks than typical for credit card transactions [link] [link]
@howardlindzon: The banks are lucky to have $aapl it else technology startups would really speed up their demise [link]
Stressed Borrowers Rattle Resurgent Subprime Lending Industry
New York Times – 3 days ago
A rise in defaults indicates that borrowers with low credit scores may be stretched to the breaking point, which could affect consumer spending and the overall economy.
@AmyResnick: RT @petereavis: Yup, its about that time. Subprime lenders are starting to push things to the limit again. [link]
@Convertbond: Economy Juiced on Subprime lending in 2014? via @NickTimiraos [link]
@AmerBanker: RT @Jeffrey_Cane: The acceleration in subprime lending hits a speed bump. Via @petereavis [link]
@MattGoldstein26: RT @dealbook: Stressed Borrowers Rattle Resurgent Subprime Lending Industry [link]
The economics of digital currencies
Bank of England – 3 days ago
Business Insider: The Bank Of England Just Said It Thinks Bitcoin Could Be Huge
@TheStalwart: RT @bankofengland: The rising cost of ‘mining’ digital currencies like Bitcoin [link] #Bitcoin [link]
@jmackin2: RT @bankofengland: Are digital currencies money? Article considers with regards to the roles money plays #bitcoin [link] ht…
Here Is The City: Bitcoin could pose threat to financial stability of UK, warns Bank of England
Deutsche Bank: Independence a wrong turn for Scotland, could bring depression
db.com – 1 day ago
@faisalislam: full DB report: not sure re "depression" & polecon, but prediction of strained credit conditions interesting #indyref [link]
@davidmwessel: DB’’s David Folkerts-Landau says case for Scottish independence is “incomprehensible” His manifesto: [link]
@RANsquawk: The Deutsche Bank report everyone is talking about on Scottish depression & a wrong turn #indyref [link] @faisalislam
@Ian_Fraser: David Folkerts-Landau, author of #DeutscheBank note, seems blind to banking sector’s role in fomenting 2008 crash [link]
Transgender hooker parties then robs penthouse: cops
NY Post – 1 day ago
Two low-level lackeys at a financial firm learned their boss was leaving town for a vacation — so they decided it would be a blast to break into her penthouse and throw a party, police sources said...
@JacobWolinsky: $STUDY Transgender hooker parties then robs penthouse: cops - NY Post [link] via @feedly
@volatilitysmile: RT @BarbarianCap: Transsexual hooker parties then robs penthouse: cops [link] $STUDY employees got key for boss’s place fro…
@BarbarianCap: Transsexual hooker parties then robs penthouse: cops [link] $STUDY employees got key for boss’s place from doorman
The case for open borders
vox.com – 1 day ago
We wouldn’t stand for a system that barred people from work based on race, gender, or sexual orientation. George Mason’s Bryan Caplan asks why discrimination based on place of birth is any different.
@ATabarrok: RT @rakeshrajani: Sure opengov, opendev, opendata, opentrade... but what we really need is openborders [link] HT @JustinSan…
EconLog: Open Borders: My Vox Interview, by Bryan Caplan
reddit/Economics: The Case for Open Borders
@Richard_Florida: Even worse living it @bradplumer: surprising that Canada & US don’t already have open borders, like the EU has: [link] …
Scots, What the Heck?
New York Times – 7 days ago
The very bad economics of independence.
@MParekh: Timely question: "Scots, What the Heck?" Independence w/o an independent currency. [link] #Scotland #UK #Politics #EU $$
@faisalislam: "I have a message for the Scots: Be afraid, be very afraid" says Nobel winner Paul Krugman: [link] other Nobels disagree
@ObsoleteDogma: It makes zero sense for Scotland to keep the pound if it leaves the United Kingdom [link]
@johnpmcdermott: RT @murdo_fraser: Nobel prize winning economist Paul Krugman monsters the Yes case for separation: [link]
@Pawelmorski: Krugman on Scotland. [link] nobody focussed on what actually matters: what’s best for England.
Marginal Revolution: Assorted links
reddit/Economics: Scots, What the Heck?
@TimHarford: Krugman on independence: "I have a message for the Scots: Be afraid, be very afraid." [link]
@moorehn: RT @Pawelmorski: Krugman on Scotland. [link] nobody focussed on what actually matters: what’s best for England.
@INETeconomics: "I have a message for the Scots: Be afraid, be very afraid" @NYTimesKrugman [link]
@wonkmonk_: Krugman: "Canada has its own currency, which means that its government can’t run out of money." [link]
@davidmwessel: Krugman: If Scots vote independence and keep British pound, more likely to be like Spain without sunshine than Canada [link]
@TheStalwart: RT @mattyglesias: Krugman on the risks of the Sterling Option for an independent Scotland: [link]
Business Insider: Paul Krugman Has An Important Warning To Scotland
@SaraEisen: Why independent Scotland would be more like Spain than Canada- the currency problem: P. Krugman: [link]
@R_Thaler: PG seems right to me. Am I missing something?MT“@DLeonhardt: Krugman on Scotland: [link]
EconLog: Will Scottish secession be a disaster?, by Alberto Mingardi
@tylercowen: Very good Krugman column on why Scottish independence is a dangerous idea, [link]
@FGoria: Scots, What the Heck? [link]
@morningmoneyben: For Scotland, independence without its own currency could be total disaster. [link]
@TonyTassell: - @NYTimeskrugman’s message to the Scots voting Yes: Be afraid, be very afraid h/t @ObsoleteDogma [link]
@newsycombinator: Scots, What the Heck? [link]
Need an Intern with a Strong Sense of Entitlement and Bad Manners? Hire a Rich Kid
NY Observer – 2 days ago
“Mr. Kirchenbaum, I am very disappointed that you do not have a position for me,” the email proclaimed from a friend of a friend’s daughter, whom I did the favor of meeting for an informational interview.
@EpicureanDeal: BULLETIN: Rich kids still spoiled: [link] [picks stone crab out of teeth in astonishment]
@JacobWolinsky: LOL Need an Intern with a Strong Sense of Entitlement and Bad Manners? Hire a Rich Kid [link] via @feedly
@ReformedBroker: “Maybe,” the be-Rolexed millennial said. “But I’d rather work my way up from the top.”[link] via @NewYorkObserver
Reformed Broker: Is Isolation Fueling the Rich-Poor Divide?
Abnormal Returns: Friday links: extreme readings
@volatilitysmile: RT @EpicureanDeal: BULLETIN: Rich kids still spoiled: [link] [picks stone crab out of teeth in astonishment]