2014: The Year of Outrage
Slate – 14 hours ago
Following the news in 2014 is a bit like flying a kite in flat country during tornado season. Every so often, a whirlwind of outrage touches down, sowing destruction and chaos before disappearing into the sky. These conditions are hardly ...
@LaurenLaCapra: I’m outraged that a Lena Dunham outrage had to fall on my birthday. [link]
@mathewi: Sad but true: "Cultural gaps and chasms that previously we never crossed we now cross by default" [link]
@TheStalwart: Oh man. Hadn’t seen this RT @woodruffbets: "in order to prove that women aren’t heard, it suppressed their voices" [link]
@BCAppelbaum: RT @VeraMBergen: "Slate tracked what everyone was outraged about every day in 2014" This is pretty great [link] http://t.co…
@johngapper: This is terrible. Someone must resign. [link] via @slate
@SimoneFoxman: Clearly, I have not been outraged enough this year. Missed out on so many of these, thank goodness! [link]
@Noahpinion: RT @ObsoleteDogma: "I didn’t become a journalist to peddle indignation on Facebook. But it sells” [link]
@munilass: "Don’t let the mob manage your company" Pt 2 [link]
@ObsoleteDogma: "I didn’t become a journalist to peddle indignation on Facebook. But it sells” [link]
@MattZeitlin: this is pretty great [link]
@eisingerj: Who says nobody cares about anything anymore? The year in twitter outrage: [link]
@matt_levine: The Slate outrage package is so good, and so definitive, that maybe we can stop having internet outrage now? [link]
@davewiner: The year of outrage 2014: Everything you were angry about on social media this year. [link]
@morningmoneyben: Outrageous “@igorvolsky: You must read @slate’s feature tracking what everyone was outraged about every day in 2014: [link]”
@cate_long: "how outrage has taken over our lives" From righteous fury to faux indignation: everything we got mad about in 2014 [link]
@ClaraJeffery: [clap emoji x3 ] Jody Rosen @jodyrosen Bravura @slate package, The Year in Outrage. [link]
@moorehn: RT @kgittleson: This is really good: [link]
@Neil_Irwin: Really nice, introspective piece by @JHWeissmann about feeding the Internet’s perpetual outrage machine. [link]
The Greatest Tax Story Ever Told
Bloomberg Businessweek – 10 hours ago
How U.S. companies learned to relocate their official addresses overseas and avoid taxes—in one operetta
@danprimack: The invention of tax inversions [link]
@DividendMaster: The Greatest Tax Story Ever Told [link]
@foxjust: RT @matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@johngapper: RT @matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@maxabelson: The most operatic article about tax cheating you’ll ever read! @ZachMider is a genius [link]
@petereavis: Wall St lawyers mocking the IRS in song; it’s amazing stories like this that encapsulate the era of the 1%. [link]
@EpicureanDeal: “The tax code [should be] completely scrapped.” - Liberal tax lawyer who invented inversions: [link] via @matt_levine
@matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@Chris_Whittall: The Greatest Tax Story Ever Told [link]
@cate_long: RT @KYWeise: I *promise* you won’t regret reading this: The Greatest Tax Story Ever Told by @zachmider [link] [link]…
@munilass: "Don’t bet against the imagination of tax lawyers" [link]
Bloomberg Businessweek 2014 Jealousy List
Bloomberg Businessweek – 4 hours ago
Bloomberg Businessweek’s writers, editors, and designers, picked their 44 favorite pieces of journalism from other news outlets for our Second Annual Jealousy List.
@tcarmody: RT @mattdpearce: Love this: Businessweek reporters pick the 2014 stories they wish they had written. [link]
@mccarthyryanj: Love this RT @kurtsoller: The second annual @BW Jealousy List. Now with awesome graphics. [link]
@BCAppelbaum: Businessweek: "The 44 Best Stories We Didn’t Write.” [link]
@MattZeitlin: RT @Nataliekitro: .@jbsgreenberg and @RachelAbramsNY i’m jelly [link]
@lizzieohreally: RT @williamalden: The guy who put The Awl’s weather reviews on this list deserves a bonus [link]
@eisingerj: Our Red Cross piece picked by @jtozz in @bw’s Jealousy List. Nice to be included. [link]
@UpshotNYT: .@BW’s Jealousy List of stories they wish they had includes The Upshot’s migration project: [link] [link]
Deflation Warning Sounds as 2-Year Break-Even Rates Go Negative
Bloomberg – 3 hours ago
Even with the Federal Reserve reminding investors that policy makers remain on course to raise interest rates next year, one corner of the bond market is warning of the risk of deflation.
Business Insider: The Word ’Disinflation’ Is Booming
@LemaSabachthani: deflation warning sounds as 2-year break-even rates go negative [link]
@ObsoleteDogma: Deflation? Or are TIPS just terribly illiquid pieces of… ? The 2-year breakeven is now negative. [link]
@pdacosta: This is "a world with reduced growth expectations and reduced inflation expectations, and we’re not immune to that." [link]
@delong: 2 Year breakevens negative [link]
The Blacklist That Rules Wall Street’s Loan Market
Bloomberg – 9 hours ago
Unlike any other market in the U.S., the blacklist rules in leveraged loans. No regulator polices trading in the $800 billion market. Here, borrowers -- and the investors who control them -- choose who gets into the club. It would be as if Apple Inc. (AAPL) got to decide who could buy its stock.
@LaurenLaCapra: There’s a Blacklist in the $800 Billion U.S. Loan Market and It’s Not Illegal [link]
Business Insider: Wall Streeters Are Using Blacklists To Bully One Another Out Of Deals
@EpicureanDeal: Leveraged loan blacklists: [link]. It’s almost as if, say, Facebook prevented investors from buying a class of stock. Wait…
@Jeffrey_Cane: RT @WiltermuthJoy: Blacklists a la: [link] are in commercial real estate 2, @Jeffrey_Cane, like w’ loans on the Chrysler Bl…
@volatilitysmile: RT @business: Yup, you can be blacklisted from investing in U.S. loans, and it’s totally legal [link]
@munilass: Blacklisting takes hold in leveraged loan markets [link] This is fascinating, via @BenEisen
Paramount Cancels ’Team America’ Showings, Theaters Say
deadline.com – 3 hours ago
Forget those plans by Alamo Drafthouse Cinema and other theaters to run Team America: World Police in place of The Interview. The Austin-based chain says that Paramount has now decided not to offer...
@carlquintanilla: I KNEW the @SouthPark dudes would feel the wrath of #SonyHack, eventually. (h/t @MikeIsaac) [link]
@ClaraJeffery: RT @stevesilberman: Oh jeez: "Team America" showings now cancelled too. Just stay in your homes and cower. [link]
@SconsetCapital: YES!!!THE TERRORISTS WIN AGAIN!!!RT @DRUDGE_REPORT: REPORT: PARAMOUNT Bans Showing ’TEAM AMERICA’... [link]
@MikeIsaac: who ever thought this would be a headline[link]
RadioShack Is Running on Credit Derivatives
Bloomberg View – 1 hour ago
Codere was a lovely trade, RadioShack is a lovely trade, but the world still awaits the Hegelian synthesis of the two.
@Dvolatility: RadioShack Is Running on Credit Derivatives [link] via @BV $RSH
@mdc: .@matt_levine explores morality, incentives, & highlights "pleasing symmetry" between RadioShack & Codere situations: [link]
@KidDynamiteBlog: Radio Shack is Running on Credit Derivatives - @matt_levine [link] $RSH
Amazon Confirms Rollout of One-Hour Delivery Service
Wall Street Journal – 11 hours ago
Amazon.com Inc. on Thursday launched a new service in Manhattan to deliver daily essentials such as shampoo, paper towels and toys within an hour.
@jennablan: [link] launches ‘Superfast’ delivery in New York City [link] via @WSJ
@MichaelKitces: Wow. RT @WSJ: Amazon launches ’superfast’ service in NYC. 2-hr delivery free to Prime members, 1-hr delivery $7.99 [link]
@andrewtghill: Evidence of "impatience premium" (see [link]) MT @WSJ: AMZN launches 1-hr NYC service for essentials [link]
@MikeIsaac: omg i want to use this[link]
@newsycombinator: Amazon Confirms Rollout of One-Hour Delivery Service [link]
@BobBrinker: RT @oscartrelles: Amazon unveils 1-hour delivery service in Manhattan, 2-hour free deliveries for Prime subscribers [link]
RadioShack Kept Alive by $25 Billion of Swaps Side Bets
Bloomberg – 18 hours ago
RadioShack Corp. (RSH) is finding an unlikely ally in its efforts to stay out of bankruptcy: credit derivatives traders who amassed more than $25 billion of trades speculating how much longer it can keep paying its bills.
@BarbarianCap: RadioShack Kept Alive by $25 Billion of Swaps Side Bets "28 times its debt, more than any other U.S. company [link]
@KidDynamiteBlog: this is a beautiful tale of $RSH CDS - how protection sellers funded the company: [link] via @matt_levine
@Dvolatility: RadioShack Kept Alive by $25 Billion of Swaps Side Bets [link] via @business
@IvanTheK: If RadioShack avoids bankruptcy thanks to the size of CDS protection buyers, that would be awesome (but unlikely). [link]
@AmyResnick: RadioShack Kept Alive by $25 Billion of CDS[link]
@Jeffrey_Cane: OMG: "The amount of credit-default swaps tied to RadioShack is 28 times its debt, more than any other U.S. company." [link]
@pmarca: "Amount of credit-default swaps tied to RadioShack is 28 times its debt..." Driving hedge funds to keep it alive! [link]
Notes on Russian Debt
New York Times – 3 hours ago
Debt without deficits, and other tales.
Investors bulk buy bond default insurance options
Financial Times – 2 hours ago
Big investors have been buying hundreds of billions of dollars worth of exotic credit derivatives to protect themselves against the possibility that growing numbers of corporate bond issuers will default. Options that give investors the rig...
Russians Quit London Luxury-Homes as Only Super Rich Stay
Bloomberg – 18 hours ago
Wealthy Russian homebuyers are vanishing from London after driving a wave of foreign investment that lifted property prices to records. Only the oligarchs persist.
Business Insider: Russians Are Flooding Out Of London’s Housing Market As The Ruble Crumbles
@Richard_Florida: "Russian buyers have been “eliminated virtually overnight,”"from London market - Bloomberg via @ReformedBroker - [link]
@delong: RT @keynesianr: Russians Quit London Luxury-Homes as Only Super Rich Stay - Bloomberg via @business [link] @NickTimiraos @d…
@ReformedBroker: Russian billionaires disappear from the London luxury real estate market, right on cue. Good luck NYC. [link]
@Ian_Fraser: RT @mgrenier731: Wealthy Russian homebuyers vanish from #London amid #ruble rout[link]@PatrickGower [link]
@Jeffrey_Cane: Number of Russians registered thru Christie’s International Real Estate to buy homes in London fell by 70% in a year. [link]
@davidmwessel: Bloomberg: Wealthy Russians homebuyers are vanishing from London, only the oligarchs are still playing. [link]
@pmarca: RT @mgrenier731: Wealthy Russian homebuyers vanish from #London amid #ruble rout[link]@PatrickGower [link]
Mixpanel Raises $65 Million to Build Predictive Data Tech
Wall Street Journal – 5 hours ago
Andreessen Horowitz provides the entire financing round, valuing the company at $865 million.
@howardlindzon: Um ...Mobile analytics firm Mixpanel raises $65M incl. Andreessen Horowitz at $865M valuation [link] [link]
@newsycombinator: Mixpanel Raises $65M to Build Predictive Data Tech [link]
@Techmeme: Mobile analytics firm Mixpanel raises $65M round led by Andreessen Horowitz at $865M valuation [link] [link]
@pmarca: 1/Today, we @a16z are proud to announce we are leading a new inside growth round for Mixpanel: [link]
U.S. Must Defend U.S. Culture From North Korea
New York – 8 hours ago
How to think about an absurd but serious threat.
@TheStalwart: I think @jonathanchait is spot on here. It’s the US, not Sony, which should stand up to North Korea [link]
@tcarmody: "threat to a Sony picture is actually a threat to the freedom of American culture”— ok Chait went full Sorkin-on-coke [link]
@BuzzFeedBen: .@jonathanchait here nails, at least, the fact that national politicians have a role in the Sony story [link]
@nichcarlson: RT @TheStalwart: I think @jonathanchait is spot on here. It’s the US, not Sony, which should stand up to North Korea [link]
@morningmoneyben: RT @jonathanchait: Defending American culture from Kim Jong Un is a job for Washington, not Sony [link]
@petereavis: RT @jonathanchait: Defending American culture from Kim Jong Un is a job for Washington, not Sony [link]
Google just toppled Russia, and it’s got Apple-like returns in its sights
MarketWatch – 10 hours ago
The stock market just went MAD. As in, it logged a major accumulation day. And Wednesday’s MAD, the first since October of last year, came in with a lopsided ratio of 17 to 1.
@mathewi: RT @paddycosgrave: Google worth more than the entire Russian stock market [link] [link]
@kairyssdal: RT @jolshan: Google is now worth more than entire Russian stock market: [link] [link]
@Convertbond: BRIC mania 2011 no more “@jolshan: Google now worth more than entire Russian stock market: [link] [link]”
@vali_nasr: RT @jolshan: Google is now worth more than entire Russian stock market: [link] [link]
@JohnLothian: Google just toppled Russia, and it’s got Apple-like returns in its sights - MarketWatch [link]
@pmarca: RT @jolshan: Google is now worth more than entire Russian stock market: [link] [link]
Investor Peter Thiel Planning to Live 120 Years
Bloomberg – 5 hours ago
Venture capitalist Peter Thiel is planning to reach 120 in age and is on a special diet to make it happen.
@JacobWolinsky: So am i! Investor Peter Thiel Planning to Live 120 Years - Bloomberg [link] #feedly
@mims: RT @emilychangtv: Peter Thiel takes human growth hormone every day - his recipe for immortality tonight on Studio 1.0 [link]
@MattZeitlin: RT @emilychangtv Peter Thiel takes human growth hormone every day - his recipe for immortality tonight on Studio 1.0 [link]
Bankers See $1 Trillion of Investments Stranded in the Oil Fields
Bloomberg – 13 hours ago
In a stunning analysis this week, Goldman Sachs found almost $1 trillion in future project investment at risk from low oil prices. There are zombies in the oil fields.
@SonyKapoor: RT @ReDefineEurope: Very funny! @Bloomberg: Bankers see $1 trillion investments stranded in #oil fields [link] @tsrandall h…
@bySamRo: Bloomberg targeting a very specific demo with the skitching [link] [link]
@Convertbond: ZIRP for 6 years =Bankers See $1 Trillion of Investments Stranded in the Oil Fields [link]
@JohnLothian: Bankers See $1 Trillion of Investments Stranded in the Oil Fields - Bloomberg [link]
@Dvolatility: RT @mdc: Bankers see $1 trillion of OIL ZOMBIE(investment)S stranded in the fields: [link] @tsrandall
@pdacosta: Goldman Sachs estimates almost $1 trillion in investments in future #oil projects at risk [link]
Elizabeth Warren Gets Her Own Folksong on Park Avenue
Bloomberg – 1 hour ago
Chanting and clapping outside Citigroup Inc.’s Park Avenue headquarters today, about 50 protesters tried to thrust the bank into the 2016 presidential race.
The Conventional Wisdom On Oil Is Always Wrong
fivethirtyeight.com – 10 hours ago
That narrative isn’t necessarily wrong. But in my years watching the transformation up close, I took away a lesson: When it comes to energy, and especially shale, the conventional wisdom is almost always wrong.
@jasonzweigwsj: Why every prediction about anything involving oil has been wrong, by @bencasselman [link] #WSJ
reddit/Economics: The Conventional Wisdom On Oil Is Always Wrong
@petercoy: The Conventional Wisdom On Oil Is Always Wrong [link]
@NKingofDC: RT @bencasselman: .@NKingofDC’s 2008 oil-price contest remains one of my favorite stories. Timing was incredible.[link]
A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia.
New York Times – 1 day ago
Sweden, Denmark and Norway may have a lesson for the United States. Their welfare benefits make it easier for people to work.
@mims: US welfare is overwhelmingly dispensed through tax credits. Turns out that might be a terrible idea. [link]
@Frances_Coppola: RT @MFordFuture: More People Choose to Work in Countries With High Taxes and a Generous Safety Net @Neil_Irwin [link] http:…
reddit/Economics: A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia. - NYTimes.com
@Noahpinion: RT @erikbryn: Time to re-think conventional wisdom. Denmark: higher benefits & taxes + more people working[link] http://t.…
@delong: RT @MFordFuture: More People Choose to Work in Countries With High Taxes and a Generous Safety Net @Neil_Irwin [link] http:…
@lucymarcus: A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia. [link]
In Search of Lost ‘Time’: Algos Didn’t Wait on Fed Nuance
Bloomberg – 5 hours ago
The financial press, universally considered to be among the smartest not to mention best-looking humans on the planet, faced a conundrum yesterday when the Federal Reserve’s policy statement came out.