How Trump Invented Trump
Bloomberg – 14 hours ago
Inside Trump’s biggest project: himself.
@markgongloff: Donald Trump: How the myth was made [link] by @maxabelson
@s_m_i: RT @MonikaBauerlein: Nominating this @maxabelson opener for the lede hall of fame. [link] [link]
@danprimack: .@maxabelson on Trump: "In the same way that his campaign is post-politics, his company is post-business." [link]
@mccarthyryanj: RT @zachmider: Me,” Trump says.“Mirror,” says one of the two deputies in the room. “The mirror.”“I look at me,” says Trump.[link]…
@ZekeJMiller: Donald Trump: How the myth was made [link]
@hblodget: RT @jyarow: Trump’s business mentor? Himself. [link] [link]
@blakehounshell: RT @Tyrangiel: .@maxabelson asked @realDonaldTrump for a biz leader he admires:“Me,” Trump says.“The mirror,” says a deputy[link]…
Huffington Post: Here’s One Succinct Takedown Of Donald Trump’s Management Style
@memeorandum: Inside the empire ... Photographer: Evan Ortiz ... Trump Las Vegas (Max Abelson / Bloomberg) [link] [link]
@pkedrosky: This para from @maxabelson on Trump’s business is money: His main business is being Donald. [link] [link]
@morningmoneyben: RT @Tyrangiel: .@maxabelson asked @realDonaldTrump for a biz leader he admires:“Me,” Trump says.“The mirror,” says a deputy[link]…
@lizzieohreally: Max. Abelson. On. Trump. [link]
@eisingerj: RT @JesseDrucker: .@maxabelson on Trump: "His corporate leadership is a kind of teenager’s fantasy of adult office power." [link]…
@MattZeitlin: "Donald J. Trump...sits with pictures of himself to his left, to his right, in front of, and behind him" [link]
@RobinWigg: When Trump was asked what business leaders he admires. (Love the fawning of his employees) . [link] [link]
@jyarow: Trump’s business mentor? Himself. [link] [link]
Father of drowned Syrian toddlers prepares to take bodies home
Reuters – 15 hours ago
The distraught father of two Syrian toddlers who drowned with their mother and several other migrants as they tried to reach Greece identified their bodies on Thursday and prepared to take them back
@mathewi: RT @BenWolford: Didn’t want to look at the picture? Well, the boy’s father wants you to. [link] [link]
@NickMalkoutzis: RT @Andresmourenza: "Father of drowned Syrian boys declines Canadian citizenship as he prepares take bodies home [link] htt…
@blakehounshell: RT @aylajean: Father of drowned #Syrian toddlers prepares to take bodies home by @ecetoksabay [link]
@tomgara: After seeing pictures of the dead boy on the beach, Canadian officials offered the father asylum. He declined. [link]
@ClaraJeffery: RT @Andresmourenza: "Father of drowned Syrian boys declines Canadian citizenship as he prepares take bodies home [link] htt…
@Richard_Florida: RT @Reuters: Father of drowned Syrian boys declines Canadian citizenship as he prepares to take bodies home [link] http://t…
@MatinaStevis: RT @markmackinnon: ! - Father of little Aylan Kurdi says "Canadian officials had now offered him citizenship." He declined: [link]…
@Ian_Fraser: RT @Reuters: Father of drowned Syrian boys declines Canadian citizenship as he prepares to take bodies home [link] http://t…
@volatilitysmile: RT @acoyne: Oy @TabathaSouthey: "Cdn officials now offered” boy’s father "citizenship after seeing what happened but he declined” http://t.…
@BobBrinker: "Let this be the last," -- [link] via @Reuters
@lrozen: RT @StephNebehay: Family of Syrian toddler on Turkish beach tried to reach Canada: report [link] via @Reuters
This Was to Be the Year of Bigger Wage Gains. It’s Not.
New York Times – 8 hours ago
Shadow workers, people who are sort of but not really in the labor force, may be holding wage growth back.
@jennablan: RT @DLeonhardt: 2015 was supposed to be the year wages started rising. It hasn’t been. Here’s why: [link] [link]…
@kairyssdal: It’s the economy, Stupid. "This Was to Be the Year of Bigger Wage Gains. It’s Not." [link]
reddit/Economics: This Was to Be the Year of Bigger Wage Gains. It’s Not.
@Noahpinion: RT @nick_bunker: Good @Neil_Irwin piece on the lack of wage growth & the extent of slack still left in the labor market [link]…
@ylanmui: RT @Neil_Irwin: Hey, remember when 2015 was going to be the year workers finally got raises? Yeeah about that. [link] http:…
@delong: RT @nick_bunker: Good @Neil_Irwin piece on the lack of wage growth & the extent of slack still left in the labor market [link]…
@tylercowen: RT @DLeonhardt: 2015 was supposed to be the year wages started rising. It hasn’t been. Here’s why: [link] [link]…
A Choppy August Tested Hedge Funds, and Many Stumbled
New York Times – 3 hours ago
Hedge funds aim to reap high returns while countering volatility in stocks, but during the global turmoil in August, many just extended their history of underperformance.
The 1 Easy Way Donald Trump Could Have Been Even Richer: Doing Nothing
NationalJournal – 7 hours ago
Read the story from National Journal.
@JimPethokoukis: And he’s not very liquid | The 1 Easy Way Donald Trump Could Have Been Even Richer: Doing Nothing [link]
@AntDeRosa: RT @JeffSCartwright: Read @andrewmcgill & @jeshuf on @nationaljournal’s new digital tool [link] [link]
Huffington Post: Fossil Fuel Execs Made Twice As Much As U.S. Pledged To Help Fight Climate Change Overseas
Business Insider: Why Donald Trump would still be a billionaire even if he never worked a day of his life
@ritholtz: The 1 Easy Way Donald Trump Could Have Been Even Richer: Doing Nothing [link]
@LaurenYoung: RT @FullDRadio: Index funds beat #Trump’s supposed billionare alpha [link] #Bogleheads @Vanguard_Group @LaurenYoung @nation…
@BuzzFeedBen: Trump has actually, for all the sound and fury, essentially mismanaged the fortune he inherited [link]
@Jeffrey_Cane: If Trump had invested his inheritance into a S&P 500 mutual fund in 1974, it would be worth nearly $3B today. [link]
‘Risk parity’ shares blame for market ructions, says Omega
Financial Times – 17 hours ago
Lee Cooperman, the founder of Omega Advisors, has joined the growing chorus of investors blaming last week’s stock market sell-off — and his own poor performance in August — on esoteric but increasingly influential trading strategies pioneered by hedge funds like Bridgewater.
@MattGoldstein26: RT @mercenaryjack: Leon Cooperman is pretty much a permabull. He’s down ~11% this year. But it’s not his fault it’s "risk parity" stuff. ht…
Business Insider: There’s a hot new theory being passed around for why the market crashed last month
@FGoria: Omega says ‘risk parity’ helped tip market [link]
@mercenaryjack: Leon Cooperman is pretty much a permabull. He’s down ~11% this year. But it’s not his fault it’s "risk parity" stuff. [link]
@JohnLothian: ‘Risk parity’ shares blame for market ructions, says Omega - [link] [link]
@AmyResnick: RT @FrancesDenmark: Leon Cooperman, founder of Omega Advisors, blames risk parity for some of recent market volatility via @FT http://t.co/…
@raluca3000: Leon Cooperman blames ‘Risk parity’ [link]
Low-Income Workers See Biggest Drop in Paychecks
New York Times – 1 day ago
Despite an improving economy, the take-home pay for many Americans has fallen since 2009, and the sharpest decline has been experienced by those with the lowest-paid jobs.
Economist's View: Links for 09-03-15
@DividendMaster: $DB economist out claiming low wage workers are doing great . $NYT out claiming low wage workers getting destroyed [link]
@ritholtz: Low-Income Workers See Biggest Drop in Paychecks [link]
reddit/Economics: Low-Income Workers See Biggest Drop in Paychecks
@memeorandum: Low-Income Workers See Biggest Drop in Paychecks (@nelsonschwartz / New York Times) [link] [link]
@tylercowen: RT @erikbryn: Dismal Numbers: Real wages are falling for all groups, especially those at bottom.[link] [link]…
@MarkThoma: Low-Income Workers See Biggest Drop in Paychecks - The New York Times [link]
Alibaba Chairmen Said to Plan $2 Billion Loan Against Stock
Bloomberg – 2 hours ago
Alibaba Group Holding Ltd. Chairman Jack Ma and Vice Chairman Joseph Tsai are planning to raise more than $2 billion through a margin loan pledged against the company’s stock, according to people familiar with the matter.
Flash Crash Trader Sarao Indicted by Grand Jury in Chicago
Bloomberg – 5 hours ago
The U.S. unsealed a federal grand jury indictment Thursday against the British day trader accused of contributing to the 2010 flash crash.
Cruising the Carpool: Are Lyft Line and UberPool the New Tinder?
Re/code – 8 hours ago
People are finding unexpected -- or premeditated -- romance in rideshare carpooling.
@shaneferro: RT @MikeIsaac: nothin sez comfort like “im stuck in a moving vehicle wit a dude hitting on me for 15 minutes” [link] http:/…
@mathewi: RT @jeffbercovici: Every detail in @carmeldea’s story about carpool cruising makes me regret where and when I live. [link]
@alex: OF COURSE HE IS A VC [link]
@MikeIsaac: nothin sez comfort like “im stuck in a moving vehicle wit a dude hitting on me for 15 minutes” [link] [link]
The art of the demagogue
The Economist – 10 hours ago
The Republican Party regularly sees insurgents in its primaries. A self-funding one who seems capable of saying almost anything, though, is something new.
@jamessaft: RT @DSORennie: My briefing on why @realdonaldtrump won’t be president, but could tear the Republican Party apart [link] via…
@kairyssdal: I don’t think you can actually notwithstand the vagaries of the electoral college. [link]
@gadyepstein: Our new cover imagines Donald Trump’s hair threatening to redecorate the White House: [link] Story: [link]
@lrozen: RT @DSORennie: My briefing on why @realdonaldtrump won’t be president, but could tear the Republican Party apart [link] via…
JPM Head Quant Is Back With New Warning: "Only Half The Selling Is Done; Expect More Downside"
ZeroHedge – 4 hours ago
"... we estimate that only about half (or slightly more than half) of total technical selling was completed to-date (mostly completed by VT funds, half by CTAs, and a smaller fraction by RPs). We estimate that a further ~$100bn of selling r...
ECB warns on eurozone growth and low inflation
Financial Times – 13 hours ago
Mario Draghi buoyed markets on Thursday as he opened the door for further quantitative easing should the global market tremors and the emerging market slowdown threaten the eurozone’s recovery.
@FGoria: ECB holds rates at record lows [link]
@steve_hanke: The #eurozone is doomed. It’s a shame #Draghi can’t see that #QE is not a long term fix for a failing economy. [link]
@elerianm: FYI, @FT @senoj_erialc on what to make of today’s Mario #Draghi press conference. [link] @ECB #economy #QE #eurozone
@mercenaryjack: Love this photo of ECB headquarters. Like something out of Stephen King’s Dark Tower series [link] [link]
Free-Agent Nation Is Shrinking
Bloomberg View – 10 hours ago
Gig workers get full-time jobs as the economy grows.
U.S. CLOs Have Material Exposure to Commodities, Moody’s Says
Bloomberg – 3 hours ago
Collateralized loan obligations that were created after the financial crisis in the U.S. have material exposure to the commodities sector, which poses an increased risk to investors due to the plunge in crude prices.
September 2015 ECB staff macro projections for the euro area
European Union – 11 hours ago
The recovery in activity in the euro area is expected to continue, albeit at a somewhat weaker pace than earlier expected, and this is reflected in some downward revisions to the growth outlook.
@ylanmui: RT @ecb: ECB staff macroeconomic projections for the euro area [link]
@YanniKouts: #ECB staff macroeconomic projections for the #euro area (pdf) → [link]
@LorcanRK: Latest ECB macro projections are here [link] [link]
@fwred: RT @ecb: ECB staff macroeconomic projections for the euro area [link]
@Chris_Whittall: Here are the ECB’s macro projections: [link]
@BobBrinker: RT @LorcanRK: Latest ECB macro projections are here [link] [link]
Brutal Images of Syrian Boy Drowned Off Turkey Must Be Seen, Activists Say
New York Times – 1 day ago
As photographs of the young refugee appeared again and again in timelines on social media, a debate broke out about the ethics of sharing such graphic images.
@economistmeg: RT @mattdpearce: Why we ran the photo of the drowned refugee boy. [link] [link]
@YanniKouts: Brutal Images Of Aylan Kurdi, The 3-year Old Syrian Boy Drowned Off Turkey Must Be Seen, Activists Say. [link] ~@DanBilefsky
@mathewi: RT @retheauditors: Brutal Images of Syrian Boy Drowned Off Turkey Must Be Seen, Activists Say [link]
@RoelD_: RT @YanniKouts: Brutal Images Of Aylan Kurdi, The 3-year Old Syrian Boy Drowned Off Turkey Must Be Seen, Activists Say. [link]…
Greenspan’s bogus “conundrum”
Financial Times – 16 hours ago
In a previous post we noted Greenspan shouldn’t have been confounded by the “conundrum” he identified in 2005, and promised a longer explanation of this claim.
@mercenaryjack: Greenspan’s "conundrum" was bullshit [link] which is zero surprise bc Greenspan was and always will be a fraud and a quack
The Big Picture: 10 Thursday AM Reads
@edwardnh: Greenspan’s bogus “conundrum” | @M_C_Klein - FT Alphaville [link] flattening curve as sign of economic weakness
@LorcanRK: ICYMI earlier, @M_C_Klein’s latest Greenspan and Conundrums that may or may not exist is really really good [link]
@DuncanWeldon: ,@M_C_Klein’s bond market posts are the best bond market posts. [link]
@volatilitysmile: RT @SBarlow_ROB: *shakes fist at Alphaville again* RT @DuncanWeldon: ,@M_C_Klein’s bond market posts are the best bond market posts. http:/…
The network’s the thing
eugenewei.com – 1 day ago
Last week Instagram announced it was supporting more than just square aspect ratios for photos and videos. This led of course to a Slate article decrying the move, because Slate is that friend that has to be contrarian on every topic ...
@mathewi: RT @eugenewei: Why it’s a great sign when networks like Instagram, Snapchat loosen longstanding restrictions and why Twitter should: http:/…
@mercenaryjack: Should Twitter ax the 140 character limit on tweets by allowing "read more" tags? I agree with this take (i.e. yes): [link]
@howardlindzon: Great read....power of the network and ’The Network is the Thing’ [link] $fb $snap $twtr
@JeffMacke: RT @BrattleStCap: This article was tweeted by @modestproposal1 earlier but full of great ways to ’fix’ Twitter [link] http:…
@modestproposal1: Man this is a great post by @eugenewei [link]
@pmarca: RT @gerstenzang: If you’re in the mood for reading about networks, also read this great piece by @eugenewei [link] "The net…
This Is What The Historic "Risk Parity" Blow Up Looked Like
ZeroHedge – 6 hours ago
The volatile sell-off in global equities from Thursday August 20th through Tuesday August 24th, alongside a relatively muted diversification benefit from fixed income, led many risk parity funds to suffer a sudden and sharp drawdown over the four-day period (Chart 1). The performance drawdown and subsequent spike in the volatility of risk parity funds likely triggered a significant deleveraging in their assets.
Four Entrepreneurs Talk About the Fintech Revolution
Bloomberg – 9 hours ago
Q&As with Scott Saunders, Max Levchin, Ram Ahluwalia, and Eric Poirier