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....................................... Interesting aerial view (2.7MB JPEG -- fast connections only) of a southern California neighborhood, post-wildfire. Do you feel lucky, punk? Posted at 7:43 PM, GMT
The Chinese aren't just recycling their paper dollars into Treasury bonds, they're also buying our Boeings (and GE jet engines) and Cadillacs and tons of grains. Posted at 6:42 PM, GMT
Floyd Norris writes in today's NYTimes that "mutual fund managers viewed fund investors as chickens to be plucked." (I prefer the sheep to be shorn simile.) Posted at 6:24 PM, GMT
I finally finished Bernard Lewis's book, What Went Wrong: The Clash between Islam and Modernity in the Middle East, and thought I'd share a few excerpts from his conclusion:
"By all the standards that matter in the modern world -- economic development and job creation, literacy and educational and scientific achievement,
political freedom and respect for human rights -- what was once a mighty civilization has indeed fallen low."
"... a principal cause of Western progress is the separation of church and state and the creation of a civil society governed by secular laws." "To a Western observer, schooled in the theory and practice of Western freedom, it is precisely the lack of freedom -- freedom of the mind from constraint and indoctrination, to question and inquire and speak; freedom of the economy from corrupt and pervasive mismanagement; freedom of women from male oppression; freedom of citizens from tyranny -- that underlies so many of the troubles of the Muslim world." Posted at 3:35 PM, GMT
Here's a really cute Nerd Purity Test. (My favorite question was "Is your weight less than your IQ?") < -- via Blogdex --> Posted at 1:13 PM, GMT
The Chairman explains one (failed) long trade and one successful short trade in today's Trading for Dummies lesson. Posted at 12:01 PM, GMT
Gold futures (GC), Daily Chart Posted at 12:00 Noon, GMT
Steven Pearlstein writes in defense of the NYSE's specialist system.
"... there is no indication that specialists are any less trustworthy than their ethically challenged critics at the mutual funds
and major brokerages. Nor has anyone made a convincing case that this system can't be fixed by a bit more vigilance from regulators,
greater transparency into specialists' order books and continued expansion of the NYSE's computerized trading operation."
Yes, I did chuckle while reading it. Posted at 11:29 AM, GMT
The Guardian reports that FT.com plans to scrap its free email news service, making it subscribers-only.
"Six new emails a day will be sent to FT.com subscribers, featuring the latest market commentary in addition to the existing four
editions of Lex that appear online from editions of the paper in the UK, America, continental Europe and Asia.
'... by expanding the Lex Live service and providing real time comment and analysis on UK, European, US and Asian business and markets issues, we'll be offering FT.com subscribers unique, insightful and unmissable analysis throughout the day.'" < -- via PaidContent --> Posted at 11:15 AM, GMT
A former Goldman Sachs economist pays the price for "serious errors of judgment and lapses of integrity."
"John Youngdahl ... admitted ... that he and a Washington political consultant conspired in 2001 to use embargoed information
from the [Treasury] department's quarterly press briefings. The secret deal reaped rewards for Goldman Sachs and attracted
government scrutiny when the federal government unexpectedly announced plans to stop selling 30-year bonds on Oct. 31, 2001.
Youngdahl, 44, told the judge that he tipped off Goldman's bond traders, who snapped up $84 million in bonds before the official posting of the news sparked one of the largest single-day bond rallies in history. The consultant, Peter J. Davis Jr., who called Youngdahl immediately after the Treasury briefings, has pleaded guilty to insider trading and mail theft." Posted at 10:58 AM, GMT
Caroline Baum pokes fun at the gloom-and-doomsters.
"... that reliable Wall Street defense mechanism (I'm right, I'm always right, even when I'm wrong I'm right) kicked into gear.
The jobs created weren't the right kind (they were part-time and low-paying). They weren't in the right industry (no manufacturing jobs).
And there weren't enough of them."
Posted at 10:46 AM, GMT
Previous Entry >>> Random Thoughts -- November 13 |
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Chairman MaoXian |
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