Niall Ferguson: The Return of Volatility Is Mainly About Monetary Policy
Wall Street Journal – 6 hours ago
In The Wall Street Journal, Niall Ferguson writes that this month’s wild market swings show there is no smooth exit from QE3.
@delong: RT @jbarro: Niall Ferguson says QE is responsible for recent market woes. Maybe QE also caused the Ebola crisis. [link]
@ObsoleteDogma: Niall Ferguson still doesn’t like QE, @TheStalwart, or @jbarro [link]
@Noahpinion: RT @ObsoleteDogma: Niall Ferguson still doesn’t like QE, @TheStalwart, or @jbarro [link]
@jbarro: Niall Ferguson says QE is responsible for recent market woes. Maybe QE also caused the Ebola crisis. [link]
Google CEO Larry Page Reorgs Staff, Anoints Sundar Pichai as New Product Czar
recode.net – 9 hours ago
Sources said the company co-founder has told staff that he wants to focus on the "bigger picture" at the tech giant.
@IvanTheK: He’s a Wharton undergrad, natch. Google CEO Larry Page Reorgs Staff, Anoints Sundar Pichai as New Product Czar [link]
@AmyResnick: Exclusive: @Google CEO Larry Page Reorgs Staff, Anoints Sundar Pichai as New Product Czar[link]
@newsycombinator: Larry Page Reorgs Staff, Anoints Sundar Pichai as New Product Czar [link]
@raju: .@Google Anoints @sundarpichai as its new Product Czar [link] via @LizGannes @recode [link]
@Techmeme: Larry Page reorgs staff, transfers leadership of core Google products to Sundar Pichai [link] [link]
U.S. Newspapers Make $40 Billion Less From Ads Today Than in 2000
Adweek – 15 hours ago
Here’s a sobering statistic: From 2000 to 2013, annual U.S.
@MichaelKitces: RT @JonChevreau: U.S. Newspapers Make $40 Billion Less From Ads Today Than in 2000 | Adweek [link]
@JacobWolinsky: RT @Adweek: U.S. newspapers now make $40 billion less from advertising than in 2000: [link] [link]
@Dvolatility: RT @Adweek: U.S. newspapers now make $40 billion less from advertising than in 2000: [link] [link]
@davidmwessel: What happened to newspaper ad revenues? Answer: Google took them. [link] [link]
@hblodget: RT @davidmwessel: What happened to newspaper ad revenues? Answer: Google took them. [link] [link]
@raju: Some Friday afternoon rehashing of a pessimistic newspaper history via @NiemanLab [link] [link]
The Profits-Investment Disconnect
New York Times – 15 hours ago
Corporate cash, all dressed up with nowhere to go?
@interfluidity: i love @NYTimeskrugman’s chart here: profits & investment basically 90 degs out of phase since late-1990s. [link]
@ObsoleteDogma: High profits usually mean there are good opportunities to invest in, so why aren’t companies doing that now? [link]
@MarkThoma: The Profits-Investment Disconnect - Paul Krugman [link]
@ModeledBehavior: Will market power be the next bugaboo we argue over? [link]
@ryanchittum: “what you’d expect if a lot of those profits reflect monopoly power rather than returns on capital” [link]
Fed’s $4 Trillion Holdings Keep Boosting Growth Beyond End of QE
Bloomberg – 19 hours ago
Quantitative easing may turn out to be a gift that keeps on giving for the U.S. economy.
@TFMkts: RT @HedgeyeDDale: Every single assumption in this article is DEAD WRONG: [link] @federalreserve
reddit/Economics: Fed’s $4 Trillion Holdings to Boost Growth Beyond End of QE
Crossing Wall Street: Morning News: October 24, 2014
@AlephBlog: Fed’s $4T Holdings to Boost Growth Beyond End of QE [link] Error: lower int rates r better. Truth: causes malinvestment $$
@JohnLothian: Fed’s $4 Trillion Holdings Keep Boosting Growth Beyond End of QE [link]
@DougKass: RT @BloombergNews: Mission Accomplished?[link] [link]
Cameron ire at being blindsided by EU bill
Financial Times – 17 hours ago
David Cameron ;lashed out at the EU, saying a €2.1bn surcharge for the UK was “unjustified”, even as it emerged that British officials played a role in endorsing the calculations . Speaking at the end of an EU summit on Friday, which Mr Cam...
@BrunoBrussels: Whitehall as EU as Brussels with public’s money. @ONS screwed Cameron & taxpayer in shabby deal with @EU_Eurostat[link]
@YanniKouts: RT @ChrisGiles_ British officials well aware GDP revisions would affect #EU budget. [link] /via @FT
@FGoria: Angry Cameron attacks €2.1bn EU surcharge [link]
@Simon_Nixon: RT @ChrisGiles_: British officials well aware GDP revisions would affect EU budget. [link] #FT
@D_Blanchflower: Cameron said he would defy €2.1bn bill calling it completely unjustified i assume he doesn’t believe GDP revisions?[link]
The Economist – 15 hours ago
DESPITE headwinds from the continent, Britain’s economy continues to do pretty well. GDP has exceeded forecasts so far this year, and in the second quarter was...
@ObsoleteDogma: RT @CardiffGarcia: "Britain is experiencing its longest period of pay stagnation since records began in 1855." [link]
reddit/Economics: Recovery? Recovery? What recovery? (The Economist)
@Ian_Fraser: RT @CardiffGarcia: "Britain is experiencing its longest period of pay stagnation since records began in 1855." [link]
@CardiffGarcia: "Britain is experiencing its longest period of pay stagnation since records began in 1855." [link]
Lunch with the FT: Russell Brand
Financial Times – 17 hours ago
Towards the end of lunch with Russell Brand, in the course of which the comedian has called on everyone to stop paying taxes, announced the end of his acting career and embraced various women, including – nearly – me, he says: “So, how are ...
@foxjust: RT @andrewtghill: Quite possibly the best Lunch with the FT ever: @lucykellaway takes on Russell Brand @rustyrockets [link]
@ryanchittum: RT @EdwardGLuce: Wonderfully gentle skewering of the unbelievable Russell Brand by @lucykellaway [link]
@naufalsanaullah: “@aliceemross: Russell Brand tells the @FT why he doesn’t read the @FT: [link]” his Jeremy Paxman interview is impressive
@Ian_Fraser: After last night’s sparring match with BBC’s @EvanHD, @rustyrockets is interviewed by the @FT [link] via @tomjharper
@EpicureanDeal: .@rustyrockets may be an incoherent critic of capitalism, but he is a charismatic bugger, as @lucykellaway finds out: [link]
@matt_levine: @matt_levine (Sign bunny quoting Russell Brand via @lucykellaway here [link])
So You Think You’re a Risk-Taker?
Wall Street Journal – 12 hours ago
Intelligent Investor: Nothing is more important for investors than learning how much they can stand to lose. But nothing is harder to learn—before it’s too late, writes Jason Zweig.
Republicans Are Surging in the Prediction Markets
New York Times – 12 hours ago
Betting markets are diverging from polling-based forecast models, which are more optimistic about Democratic chances to retain the Senate.
@davidmwessel: RT @JustinWolfers: The odds the R’s take the senate are surging.My latest: [link] [link]
@JustinWolfers: The political story the media missed: The odds the R’s take the senate are surging.My latest: [link] [link]
@hblodget: RT @DLeonhardt: Bettors are more confident of Republican chances than poll-based models are. @JustinWolfers: [link] http://…
@prchovanec: RT @UpshotNYT: The GOP will win the Senate, if you trust in prediction markets. [link] [link]
Private Equity Fight Club
Wall Street Journal – 13 hours ago
A new group who are tentatively calling themselves the Private Equity Combat Sports group, or ‘PECS’, is launching next month, with the aim of teaching buyout execs a form of self-defense developed by the Israeli special forces.
@JacobWolinsky: Strange: Private Equity Fight Club [link] via @WSJMoneyBeat
@danprimack: Oh god. Private equity fight club [link]
@SimoneFoxman: RT @danprimack: Oh god. Private equity fight club [link]
@SconsetCapital: YOU DON’T TALK ABOUT PE FIGHT CLUB!!!RT @JacobWolinsky: Strange: Private Equity Fight Club [link] via @WSJMoneyBeat
The Laborers Who Keep Dick Pics and Beheadings Out of Your Facebook Feed | WIRED
Wired – 1 day ago
Inside the soul-crushing world of content moderation, where low-wage laborers soak up the worst of humanity, and keep it off your Facebook feed.
@kevinroose: RT @AdrianChen: An invisible army of outsourced moderators cleans the internet of porn and gore. My story for @WIRED [link]
@AntDeRosa: The human toll of content moderation [link]
@M_C_Klein: File this one under "jobs in the new economy" [link]
@kaylatausche: The dark art of content moderation, and the saints who clean up your newsfeeds. (via @WIRED) [link]
@nancefinance: Riveeting: The Laborers Who Keep Dick Pics and Beheadings Out of Your Facebook Feed | WIRED [link]
@mccarthyryanj: Saddest thing I’ve read in a while: PTSD among overseas comment moderators, who see the worst of humanity [link]
@BuzzFeedBen: Great @AdrianChen story on the people who look at horrendous images all day so we don’t have to [link]
@pushinghoops: RT @AdrianChen: An invisible army of outsourced moderators cleans the internet of porn and gore. My story for @WIRED [link]
@MatinaStevis: FB,Twitter "rely on an army of workers employed to soak up the worst of humanity in order to protect the rest of us" [link]
@EpicureanDeal: Welcome to our shiny new social media future: [link]
@davewiner: The Laborers Who Keep Dick Pics and Beheadings Out of Your Facebook Feed. [link]
@raju: On those who quietly toil to keep away pictures of beheadings & penises from your digital feeds: [link] h/t @ashleymayer
@michaelsderby: Via Wired, the tough job of keeping social networking sites clear of offensive content. [link]
Get Poor Quickly!
millennialinvest.com – 14 hours ago
One of the best ways to measure how much luck is involved in the outcome of any competitive event is to ask how easy it would be to lose that event on purpose[i]. It would be very easy, for example, to lose a round of golf or a tennis...
Amazon Employees, Not Investors, Will Have to Pressure Jeff Bezos to Slow Down
Bloomberg Businessweek – 14 hours ago
A rougher-than-expected quarterly loss gives Amazon bulls something to think about and may enable Amazon executives to press for slower expansion
The Chart That Amazon Investors Won’t Like
Bloomberg – 13 hours ago
What Amazon has lacked in profit was usually made up for in revenue growth. But now investors are worried that may no longer be the case.
@ReformedBroker: RT @AlephBlog: The Chart That Amazon Investors Won’t Like [link] Losing $$ on every sale, will make it up on volume $AMZN
@SconsetCapital: We’re gonna need a bigger internet.RT @AlephBlog: [link] Losing $$ on every sale, will make it up on volume $AMZN
@AlephBlog: The Chart That Amazon Investors Won’t Like [link] Losing $$ on every sale, but will make it up on volume $AMZN
Lost Lobos | Nick Dunbar
nickdunbar.net – 15 hours ago
@Markit: RT @nicholasdunbar: Stress tests, annuities and the hidden derivatives of UK municipal finance [link] @gary_cdo2
@Ian_Fraser: One might argue that for @Kent_cc to pay £1bn interest on £441m of @Barclays borrowing isn’t a particularly good deal [link]
@munilass: Really interesting piece on lender’s option borrower’s option agreements in UK municipal finance [link]
You & Your Wall Street Boyfriend (24 Hours)
cafe.com – 17 hours ago
If you had a drone with a camera, this is what you’d see your Wall Street boyfriend doing.
Ralph Nader to Apple: Fewer Buybacks, More Worker Pay
Wall Street Journal – 14 hours ago
Ralph Nader’s shareholder-activism campaign is taking on some big, new targets: Apple Inc. and Carl Icahn.
@nichcarlson: RT @erikholmwsj: Ralph Nader to Apple: fewer buybacks, more pay for workers [link] via @srussolillo
Business Insider: RALPH NADER: Hey Apple, Stop Listening To Carl Icahn And Pay Your Workers Instead (AAPL)
@SconsetCapital: RT @erikholmwsj: Ralph Nader to Apple: fewer buybacks, more pay for workers [link] via @srussolillo
Testing Europe’s Stress Tests
Bloomberg View – 17 hours ago
Europe’s banks might actually be more than $600 billion short of the capital they would need in a severe crisis.
@charlesforelle: RT @mrkwhths: How a really tough European stress test might look: [link] via @BV [link]
@edwardnh: NYU-based model that was dead on for $400bn US banks needed in 2009 stress tests says just 37 euro banks need $616bn [link]
@TimOBrien: Are European banks $600 billion short of the padding they’d need in a crisis? @mrkwhths [link] [link]
@eisingerj: RT @mrkwhths: How a really tough European stress test might look: [link] via @BV [link]
The world’s biggest economic problem
The Economist – 1 day ago
THE world economy is not in good shape. The news from America and Britain has been reasonably positive, but Japan’s economy is struggling and China’s growth is...
@mark_dow: World’s slowest train wreck RT @PeterRMaher: Economist: Deflation in euro zone all too close and extremely dangerous [link]
@edwardnh: Here’s the Economist with the same idea ht @InEgo_ [link] [link]
reddit/Economics: The euro zone: The world’s biggest economic problem. Deflation in the euro zone is all too close and extremely dangerous
@davidmwessel: .@TheEconomist: Once deflation has an economy in its jaws, very hard to shake. Europe is running out of time. [link]
ECB Set to Fail 25 Banks in Review, Draft Document Shows
Bloomberg – 17 hours ago
Twenty-five lenders in the European Central Bank’s euro-area bank health check are set to fail the regulator’s Comprehensive Assessment, according to a draft communique of the final results, seen by Bloomberg News.
@YanniKouts: Bloomberg’s @Jeffrey_Black has the scoop on #ECB’s AQR bank tests [link] #euro | #kudos Jeff!
@economistmeg: RT @Jeffrey_Black: ECB Set to Fail 25 Lenders in Bank Review, Document Shows [link] via @BloombergNews
@FGoria: Yeah RT @BloombergNews: Twenty-five European banks fail ECB stress test, draft reveals: [link] [link]
@edwardnh: Master stroke! Geithner would be pleased: ECB Set to Fail 25 Banks in Review, Draft Document Shows [link]