15 December 2012 – The Aleph Blog

Sorted Weekly Tweets

Posted on 15 December 2012 by David Merkel

Who to Follow

#FF @researchpuzzler @newrulesinvest @felixsalmon @interfluidity @Alea_ I go through my follow list twice/yr & highlight those I respect $$ Dec 15, 2012
#FF @EddyElfenbein @ReformedBroker @smallcapanalyst @BarbarianCap @abnormalreturns @TheStalwart @The_Analyst @mickwe @marketfolly @bondscoop Dec 15, 2012

Stupid political things I have said

@jpgriffard When I say great, I mean “large.” I hate them both. Dec 15, 2012
@JoshForde Me too, thanks 4 interacting w/me Dec 15, 2012
@JoshForde Wrong time of year, and Congress is tied up with the budget, so I guess no. NYC mayor provoked me, demanding immediate action Dec 15, 2012
‘ @JoshForde Yes. Unintended consequences. 9-11 and the wars it engendered r my leading exhibits there. The US messed up badly. Dec 15, 2012
@Borderscrossed No they don’t, have a good night. Dec 15, 2012
@JoshForde That I can agree with as well, w/rights come responsibilities, bigtime. Dec 15, 2012
@JoshForde Second-order effects; our policy usually omits those. Example: the Fed & Central Bank freedom; what if they act irresponsibly? Dec 15, 2012
@trmcloughlin I would agree with that also Dec 15, 2012
@incakolanews I would agree w/that Dec 15, 2012
@JoshForde Okay, but I’ve said that before on other topics… this has been a general position of mine on a wide # of issues, not just guns Dec 15, 2012
Auughh! Blam! Drones r another ethical issue that I hate $$ RT @Borderscrossed: @AlephBlog NSA has logged our tweets. Drones on the way. Dec 15, 2012
‘ @jpgriffard He has two great achievements PPACA & Dodd-Frank Dec 15, 2012
@Borderscrossed Wait, you said “Obama” & “do something” in the same tweet. Isn’t that illegal? 😉 Dec 15, 2012
@JoshForde I’m willing to consider… what was insensitive? Dec 15, 2012
‘ @ross_marketment I agree, freedom requires some laws, and here’s one to consider… liability for not securing your gun. Dec 15, 2012
Behind every economic view there is a political view. Unavoidable. All I know is that I get more grief from writing on politics. $$ Dec 15, 2012
@laGiocondaVinci That’s fine hope u do well Dec 15, 2012
My politics r complex; I am mostly a libertarian: I was against Iraq 1 & 2, Afghanistan. I did not like Bush 43, don’t like Obama either $$ Dec 15, 2012
RT @dpinsen: @AlephBlog The same people who now regret the TSA, the PATRIOT Act, etc. rushed through after 9/11 want to rush through mor … Dec 15, 2012
‘ @Borderscrossed I am just saying 4 all legislation consider the second order effects; never act in heated emotion, consider all effects $$ Dec 15, 2012
‘ @ross_marketment Again, 9/11 is my best example. It has harmed Americans more than our enemies. I have been against all our recent wars $$ Dec 15, 2012
@streetbrief Take care Dec 15, 2012
@ross_marketment Not sure. I am saying is consider wide range of effects from policy change; we do not typically do that & we get bad policy Dec 15, 2012
I’m willing 2c intelligent limits on firearms & some degree of liability 4 those that don’t secure them, but rushed policy is bad policy $$ Dec 15, 2012
@ross_marketment Problem: there may be fewer murders, but in the UK they have more “hot robberies” than we do; robbers have more 2fear in US Dec 15, 2012
‘ @trmcloughlin What we don’t know is how many lives have been saved by firearms. We don’t hear the sound of one hand clapping. #2ndorder Dec 15, 2012
No doubt; I have 8 kids; 5 adopted – I feel sorry 4 the parents; grief RT @ross_marketment: and for the minority as well. 26 today Dec 15, 2012
And we get salvation through a plethora of ineffective statutes RT @JamesMarsh79: our society demands intervention $$ Dec 15, 2012
‘ @ross_marketment I don’t own a gun, probably nevr will. I serve the Prince of Peace. I know that a few people ruin freedom 4 the majority Dec 15, 2012
So after a really ugly event like the killing of 6-7 year olds, we need to mourn, leave policy decisions 4 a calmer time, weighing +s/-s $$ Dec 15, 2012
2 many people react 2 an ugly event saying, “This must never, Never, NEVER HAPPEN AGAIN!!” w/o considering what 2nd order effects will b $$ Dec 15, 2012
After 9/11, we made many policy decisions in haste that left us less free. Part of being a free culture –> we must accept some disasters $$ Dec 15, 2012

Wrong

Wrong: Former HP CEO Shifts Blame for Autonomy Deal to Chairman http://t.co/p8xH0BoR No deal can get done w/o sponsorship of the CEO $$ Dec 14, 2012
Wrong: As Dollar Loses Reserve Status Central Banks Diversify http://t.co/lfq2UGNW Bad as the $$ is, no other currency is as investable $$ Dec 14, 2012
Wrong: Canadian Exceptionalism in Compensation http://t.co/Q6VDqm5P France is no exemplar in paying bureaucrats a lot of $$ a % of GDP Dec 14, 2012
Wrong: Our Hero, Ben Bernanke: Why Central Bankers (Not Politicians) Are Saving the Global Economy http://t.co/BawbK79N First do no harm $$ Dec 14, 2012
Wrong: Mozilo Unbowed Says Countrywide Was ?World-Class Company? http://t.co/6pzQQyos Big, yes, but horrible underwriting, 2much debt $$ Dec 14, 2012
Wrong: Bernanke Wields New Tools to Reduce Unemployment Rate http://t.co/M3GXZomh No new tools, only wishful thinking $$ Dec 13, 2012
Wrong: Oil at $60 or $120 Doesn?t Prevent US Supplanting Saudi Arabia http://t.co/sWB1CqEa Decay curve 4 fracking means short advantage $$ Dec 13, 2012
Wrong: Krugman, Krauthammer and Their Implied Authors http://t.co/seOKbPdg U r what u write; Just another aspect of your personality $$ Dec 11, 2012

Companies

And with that, I sign off Twitter 4 the evening (aside from robotic posts). One note b4 I go, $HPQ has not filed its 10-K @ its due date. $$ Dec 15, 2012
Apple Falls as UBS Projects Growth Slowdown http://t.co/f7Gi1Wwm Size is an enemy of growth. Channel check indicates slowdown 4 $AAPL $$ Dec 14, 2012
Hurd was an accounting manipulator; he boosted asset accrual items to paper over flagging profitability. $$ http://t.co/ubjkmR9C $HPQ Dec 14, 2012

Energy

Alberta-Quebec Oil Pipeline Reversal Study Done by June http://t.co/CkqBZul2 Let Quebec find its own oil then $$ Dec 14, 2012
Refiner Phillips 66 would support U.S. crude oil exports-CEO http://t.co/lvKXNlcg More important: infrastructure 4 LNG exports FD: + $PSX Dec 14, 2012
Tokyo Steel Shifts Output as Power Costs Rise Post-Fukushima http://t.co/jYPrhUDA There r real costs to doing w/o nuclear power $$ Dec 14, 2012

Federal Reserve & Central Banks

We would b better off in the long run if the central banks of the world stopped QE & low rates & let us work out bad debts 4 a decade $$ Dec 14, 2012
Houston We Have a Problem – The Abe Approach http://t.co/V9XlZ7pw Fed adopts an approach similar 2 the proposals of Shinzo Abe $$ #FTL Dec 13, 2012
Inside the Risky Bets of Central Banks http://t.co/rKRwTgb9 They talk together, but the central bankers of the world share ignorance $$ Dec 13, 2012
Biggest Opportunity Will Be Shorting the Bond Market: Dalio http://t.co/GdGIGNkQ Shorting bonds is tough b/c of negative carry $$ Dec 13, 2012
RAY DALIO: The US Economy Is Facing A Rare Set Of Circumstances That Will Be Bad For Markets http://t.co/7lgVsmRR Bull mkt 4 cash & gold $$ Dec 13, 2012
BoE’s King warns of growing currency competition http://t.co/zTsohWHT “Beggar thy neighbor” characterizes Central Bank policies globally $$ Dec 13, 2012
“Economists at the BIS, meanwhile, have grown more skeptical about the central bank tilt.” http://t.co/Fje7WTFI All lean the same way $$ Dec 13, 2012
“There is a lot we don’t understand,” said Donald Kohn, the Fed’s former vice chairman. http://t.co/Fje7WTFI You can say that again $$ Dec 13, 2012
Most interesting move of the day was watching long Tsy bonds sell off after Fed said it would buy more http://t.co/wk4ZFhAR “Et tu, QE?” $$ Dec 12, 2012
PS: long a little bit of $TLT 4 me & bond clients, short a little bit of $SPY for hedged clients Dec 12, 2012
Love the DJ reporter asking about Fed forecast accuracy. The answer is they missed financial crisis, & have been shocked by slow recovery $$ Dec 12, 2012
Love those reporters who assume monetary policy can do anything, & that monetary policy can change unemployment w/a snap of the fingers $$ Dec 12, 2012
Change since September in Central tendency of Fed funds Fed forecasts 2013-2015 & longer run: 0.01%, -0.20%, -0.32%, -0.15% $$ Dec 12, 2012
Change since September in Central tendency of PCE inflation Fed forecasts 2013-2015: -0.08% -0.08% -0.05% $$ Dec 12, 2012
Change since September in Central tendency of Unemployment Fed forecasts 2013-2015: -0.27% -0.18% -0.05% $$ Dec 12, 2012
Long Treasuries not liking the Fed Statement, even w/the promise of additional buying FD: long $TLT Dec 12, 2012
Change in Central tendency of GDP Fed forecasts since September 2013-2015: -0.07%, -0.16%, 0.08% $$ Dec 12, 2012
Steve Liesman actually asks a decent question, wow. Dec 12, 2012
Here’s one year forward, one year inflation implied from TIPS over the last 40 days: http://t.co/dmzjrO9W moving up, currently @ 2.01% $$ Dec 12, 2012
Using TIPS, the figure for inflation between one and two years ahead is already 2.01%. Fed did not do its homework, again. $$ Dec 12, 2012
Fed Seen Pumping Up Assets to $4 Trillion in New Buying http://t.co/YkZo23sl Doing same thing over & over & expecting different result $$ Dec 11, 2012

US Politics

How to Keep All of Huck Finn in the Classroom http://t.co/rPo5syl2 We need 2 eliminate the pseudo-intellectual “common core” standards $$ Dec 14, 2012
Dispatches from the public pension wars: http://t.co/rvD9zmAU & http://t.co/oWgfJYGQ & http://t.co/EYvaGTJ2 End pension spiking $$ Dec 14, 2012
It really seems stupid to spend $151B to upgrade Acela when it only has revenue of $0.5B/year http://t.co/SNbmuXJW Slow trains r better $$ Dec 14, 2012
Whose job is it to stop an asteroid from hitting the Earth? http://t.co/dNFyVjJR Would need at least 2 years of lead time, preferably 5 $$ Dec 13, 2012
Big Banks Flunk OCC Risk Tests http://t.co/2f1veBS8 2big2b effectively regulated; left hand doesn’t know what right does, centipede-level $$ Dec 13, 2012
Pimco?s Gross Says Fed Policy Means ?Free? Debt for Treasury http://t.co/d7K7wHm1 Ah, seigniorage; it is good 2b king Dec 13, 2012
Amtrak Plans to Replace All High-Speed Acela Trains http://t.co/SNbmuXJW I like the Acela, but I can’t see how 2 recoup $151B 4 new trains Dec 13, 2012

Rest of the World

Islam in Egypt’s new constitution http://t.co/0oqRk11B Kind of interesting; gives u a feel 4 different types of Islamic casuistry $$ Dec 13, 2012
Assad Losing Syria, Say Russia and NATO http://t.co/rNeKVmhS Could Chavez & Assad lose their power in the same week? $$ Dec 13, 2012
EU Reaches Deal on Bank Supervisor http://t.co/YNFGjnjk A lot of the details have 2b worked out; will b interesting 2c it in action $$ Dec 13, 2012
China’s Economy – weaker than we think http://t.co/FwbPNviK The math is pretty clear: rebalancing will inevitably require lower growth. $$ Dec 13, 2012
What Mario Monti?s Exit Tells Us About Europe?s Debt Crisis http://t.co/Ak8zB6N4 Problems r cultural; politics can’t bring prosperity $$ Dec 13, 2012
?Reckless, Wrong-Headed? Pension Rules Could Savage Europe?s Economy http://t.co/OP7xDSGM Key Q: how large is the equity prem over Tsys? $$ Dec 13, 2012
US Schoolchildren Lag Asian Peers on Academic Tests http://t.co/PEJufbTb Phonics & going back to the “old math” would help considerably $$ Dec 11, 2012
Argentine mom rescues hundreds of sex slaves http://t.co/9dz9sZw9 In rescuing her kidnapped daughter, gains a quest & rescues hundreds $$ Dec 11, 2012
Germany displaces China as US Treasury’s currency villain http://t.co/7giRsoJE Germany > China; biggest source of global trade imbalance $$ Dec 11, 2012
BIS: Policy measures and reduced short-term risks buoyed markets http://t.co/M4k5j2Oq True now, but will make eventual tightening harder $$ Dec 11, 2012
Honey Laundering http://t.co/x2Dl5sdr No way India is now producing so much honey. Imports from China, escapes duties, exports 2 US $$ Dec 11, 2012
Hitler Has a Following in India http://t.co/Mksfyv6R India dislikes the British enough, & desires a strong leader to save them, & thus $$ Dec 11, 2012
Sony Loses Science Talent as Student Resumes Go to Dairies http://t.co/dKJsVDIN Can’t obsolete food; shows caution among Japanese youth $$ Dec 10, 2012
Carson Block Goes Short Unafraid as Chinese Gangsters Chase http://t.co/QVRFxy1i Trying 2 hide information does not change negative FCF $$ Dec 10, 2012
China November factory output jumps to eight-month high http://t.co/Y0HNSoqp And consumer inflation bounced off 33-month lows $$ Dec 10, 2012
Chinese Group Buys 80% of AIG Plane Unit for $4.2B http://t.co/7YLMn3ro Good 2c $AIG simplify. I suspect the seller is the winner here $$ Dec 10, 2012
Raging Oil Price Will Burn OPEC http://t.co/xRnGN9Pa Suggests downward pressure on oil prices. Sell high-cost E&P, maybe $$ Dec 10, 2012
Slowing China Forex Reserves May Spell Trouble http://t.co/Bcy9KnW9 Suggests gold and Singapore $$ off of weakness & capital flight in China Dec 10, 2012

Other

Those Diabolical Anonymous Commenters http://t.co/hl7tGZJ1 If we have to sign our names to what we write, we will b more judicious $$ Dec 14, 2012
The five most disruptive technologies of 2012 http://t.co/AbNJyUSF Pretty fascinating, particularly power storage & cheap internet $$ Dec 13, 2012
Finally did it. Joined the cult of Warren the Wonderful http://t.co/8p67b2yl Now my clients & I can get a discount @ GEICO. FD: + $BRK.B $$ Dec 12, 2012
America’s Milk Business in a ‘Crisis’ http://t.co/ANb8xN6d Maybe if they got rid of the growth hormones, more people would want milk $$ Dec 11, 2012
Bloomberg Weighs Making Bid for The Financial Times http://t.co/E2r3t7hw Creating a more powerful Bloomberg, LP piece-by-piece $$ #FTW Dec 11, 2012
Green energy will come into existence without subsidies when crude is $200/bbl $$ http://t.co/Ufz0Kig2 Dec 11, 2012
They Know What You’re Shopping For http://t.co/MuBloNPi Interesting. Shows how auto dealers get data on you $$ Get “do not track” $$ Dec 08, 2012

US Politics & Economics

When the CPI is up, journos point at the bogus “core” figure. When the CPI is down, journos point at the CPI. Bias http://t.co/ODXMyo1V $$ Dec 14, 2012
The Myth Of Cash On The Sidelines Remains A Myth http://t.co/c6UKgvxV Also have 2 count the cash that collateralizes derivative positions $$ Dec 13, 2012
Mortgage Rates in the US Drop to Near-Record Lows http://t.co/ciJ8b4rd Attractive credit, if u can get it; hey, rhymes and scans $$ Dec 13, 2012
If u r a professional bond investor, researcher would like you 2 take survey on Investor Preferences for Climate Bonds http://t.co/NP4X0iPV Dec 13, 2012
Beef in America is plentiful & affordable, spun out in enormous quantities @ high speeds: bonanza w/hidden dangers. http://t.co/ZhYQcleo $$ Dec 13, 2012
States Faulted Over Teacher Pension Shortfall http://t.co/bMnCE92x (non) Payback coming to teachers 4 negotiating 2 high pension bfts $$ Dec 13, 2012
How Republicans engineered a blow to Michigan’s powerful unions http://t.co/pll6Uo1r Hidden in plain sight; careful planning achieved it $$ Dec 13, 2012
For-Sale Signs Sprout in Heartland http://t.co/Fs7sB8b4 Likely sustainable as there are low levels of debt used to effect buys $$ Dec 13, 2012
I care more for how a man weighs ideas & opinions than what he weighs. http://t.co/9Cf51G9e Dec 12, 2012
“Ferri’s reasoning only looks easy in hindsight. I agree with Barry’s reasoning, though. Consistent w/Q-ratio, etc. $$ http://t.co/I8MPtJlh Dec 12, 2012
Before the public pension crisis ends, some states will remove pension protections in their constitutions, & retroactively cut benefits $$ Dec 12, 2012
$822,000 Worker Shows California Leads U.S. Pay Giveaway http://t.co/YfcZsCWU People r finally getting how big this problem is $$ Dec 12, 2012
Social Security ? 2012 Results http://t.co/GgxzcD4q Social Security & Medicare get worse and worse; US Govt will not b able 2 afford them $$ Dec 13, 2012
Hawaii Real Estate Paradise Returns With Goldman Loan http://t.co/eMAJl5IM Japanese & Korean travelers driving hotel visits $$ Dec 11, 2012
LOOMING CRISIS: State Budgets Soon to be Under Siege http://t.co/IwGIK90g Cash payments r curving up rapidly 4 public employee benefits $$ Dec 11, 2012
Don’t forget the unforced give up of stricter bailout terms, made when $$ was impossible to get; $AIG deal… http://t.co/G9zwHuDV Dec 11, 2012
Please ignore special tax benefits given $AIG & unforced renegotiation of original deal. A loss in economic terms http://t.co/gShXtNIq $$ Dec 11, 2012
Better Gas Mileage, Thanks to the Pentagon http://t.co/rmVBspJ0 As w/the space program, rarely we get positive spillover from Defense $$ Dec 11, 2012
13 Insights From Paul Tudor Jones http://t.co/BsAnkdgS He is not only a successful hedge fund manager but a very original & clear thinker $$ Dec 11, 2012
$GOOG Revenues Sheltered in No-Tax Bermuda Soar 2 $10B http://t.co/az2KrBhI Shock in Hamilton as NATO blockades, seizes shell companies $$ Dec 10, 2012
Hostess Maneuver Deprived Pension http://t.co/tyvhsCF2 Multi-employer pension trusts r weak; PBGC coverage is < single-employer plans $$ Dec 10, 2012
Climate Treaty Hinges on Obama Making Case: Ex-Aides http://t.co/zIA5j27p Obama doesn’t want 2 waste political capital on low odds win $$ Dec 10, 2012
Most Accurate Forecaster Sees Lethargic US Expansion http://t.co/e0nDazST Economic Lethargy girdles the globe, everything slowing $$ Dec 09, 2012
SEC’s Aguilar Warms Up to Money-Fund Overhauls http://t.co/mkLQNYAX Will destroy MMFs & won’t significantly help systemic risk $$ Dec 08, 2012

Retweets

To the main point: High speed rail is a boondoggle. Slow will do. RT @finemrespice: @AlephBlog http://t.co/UKb2A9hO Dec 14, 2012
Not indice, index $$ RT @weigu: Shanghai Composite Index is the 2nd-worst performing stock indice in the world this year, just after Spain. Dec 13, 2012
RT @randy_cass: Hint #1 that we’ve gotten conditioned to stimulus. Journalist asked question and referenced ‘$45 Billion a month’ as ‘a … Dec 13, 2012
Inertia RT @AsifSuria: Why does Best Buy still pay a dividend? $BBY Dec 13, 2012
Here’s a graph of it for those who don’t know where 2c it: http://t.co/G2P4kknG RT @TheStalwart: @AlephBlog tanked right at 8 PM ET $$ Dec 13, 2012
RT @Convertbond: Scary US Percentage of High Yield Bonds Trading ABOVE next Call Price 2012 40% 2011 30% 2010 22% 2009 0% 2008 5% 2007 … Dec 12, 2012
You said it RT @credittrader: umm benny – look at 5y5y fwds! come on man…. Dec 12, 2012
He can’t mean that $$ RT @davidgaffen: “I don’t think any policymaker, including the Fed, should respond to markets.” -BB 12/12/12 Dec 12, 2012
RT @Kathleen_Hays: CBS news guy asks Bernanke how does tying rate change to 6.5% jobless help economy? Bernanke says better communicatio … Dec 12, 2012
RT @LaMonicaBuzz: Where’s Chuck Barris? The Bernanke press conference is approaching the hour-long mark. Time for someone to ring a big … Dec 12, 2012
Muted response from $GLD, $TLT down, $SPY up/down since stmt RT @jamessaft: it is not the reporters who scare me, it is the investors $$ Dec 12, 2012
I assume we r both “persona non grata” there RT @cabaum1: @AlephBlog Use my name. It’ll get you a seat in the very back. Dec 12, 2012
You made me laugh; I applied to be in the press, they didn’t take me RT @cabaum1: @AlephBlog Be nice. He’s playing Helen Thomas. $$ Dec 12, 2012
RT @WildestFacts: Only 70% of people will understand the following: 2 + 2 = Fish. 3 + 3 = Eight. 7 + 7 = Triangle. RT if you get it. Dec 12, 2012
RT @tracyalloway: So long European aversion? Yankee bonds of European issuers now trading at pre-debt crisis levels, BarCap says: http:/ … Dec 11, 2012
Can’t make this up $$ RT @Alea_:[ pictures ]Mayan apocalypse: Chinese farmer builds survival pods in case of a disaster http://t.co/zWWNTWdr Dec 11, 2012
RT @MKTWBurton: What if the stock market is rigged? @abnormalreturns @felixsalmon @alephblog @bclund @nastrading: http://t.co/mkaMbNBE … Dec 11, 2012
+1 RT @fmanjoo: The University of California’s new logo is just unbelievably bad http://t.co/SFMdC22j Dec 10, 2012
Faith too RT @Mctaguej: It’s the growing number of collectivists among us that most concerns me. American individualism is in steep decline Dec 08, 2012

Replies

@e_d_sanders But once they are set up, most of the costs are incurred already, even the externalized ones. Dec 14, 2012
‘ @JonathanProber My advice to all investors is to be wary of asset accrual items that seem too big relative to assets & profits $$ Dec 14, 2012
@JonathanProber I grew up on life insurance acctg, which is probably the most complex acctg of any industry, except investment banking Dec 14, 2012
@bundesbank Die Buba ist jetzt auf Twitter. Feiern Sie mit! Holen Sie sich eine Currywurst, Sauerkraut und ein Bier! $$ 😉 Dec 14, 2012
@finemrespice Living near Baltimore, idea of turning it in2a toxic nuclear waste dump could b an improvement. Better 40 miles SW, though $$ Dec 14, 2012
@quartznews Queen: “At least we don’t have to worry about whether this gold exists. Pity about the colonies & Fort Knox…” Dec 14, 2012
@Pedant_Bot This *is* Twitter, u know. Often we use less than optimal words 4 space reasons. Or, r u referrring to a blog post of mine? $$ Dec 14, 2012
@ritholtz I’m agreeing w/u, Barry – there is less cash available 2b invested than most think, b/c much of it is encumbered Dec 14, 2012
@ReformedBroker Thanks, Josh. You have my respect; it’s tough to put out quality content w/frequency, variety & regularity Dec 13, 2012
@SimoneFoxman “At least we don’t have to worry about whether this gold exists. Pity about the colonies & Fort Knox…” Dec 13, 2012
@finemrespice Got me to laugh. Yeh, hedge funds r the financial equivalent 2 alchemists. Let them propose alternative math, c who buys it $$ Dec 13, 2012
@finemrespice Alas, but mathematics is a tough foe. Let alternative mathematics try to make $$ by outcompeting traditional math 😉 Dec 13, 2012
@TheStalwart Not much in today’s trading… why, is something happening in Asia? Dec 13, 2012
@LaurenYoung The saints will laugh, the sinners will cry http://t.co/5cwaOtbH Dec 13, 2012
‘ @Healey_trades I think the market is adjusting to the idea of higher future inflation, the Fed will not be able to maintain its policy $$ Dec 13, 2012
@OVVOFinancial I’ve never agreed with that — that would be why median CPI or trimmed mean CPI would be preferred Dec 12, 2012
@OVVOFinancial And if you use chained CPI vs chained PCE, they are virtually the same over the last 10 years Dec 12, 2012
@OVVOFinancial Over the last 10 years that would shave 0.2% off CPI inflation Dec 12, 2012
@OVVOFinancial I understand that Fed uses PCE $ TIPS r CPI-based, but there are no objective forward measures for PCE Dec 12, 2012
@cate_long Here’s 1-yr forward, 1-yr inflation implied from TIPS over the last 40 days: http://t.co/dmzjrO9W moving up, currently @ 2.01% $$ Dec 12, 2012
@cate_long Here’s a graph for that: http://t.co/dmzjrO9W Dec 12, 2012
@TheStalwart Ready at the criticism turret! Dec 12, 2012
‘ @Kevin_Holloway As the market has run, $$ has grown, approaching max cash limit; 1.2x BV $BRK.B is below; well-run, difficult to replicate Dec 12, 2012
@WildestFacts 70% sounds high, but the process is simple, flip one and paste over the other for a picture Dec 12, 2012
“4 of 6 companies graphed are housing related. $CLGX is not an insurer. Maybe you need to revise?” ? David_Merkel http://t.co/vTGZv3i2 $$ Dec 10, 2012
Many thanks to my 6000th Twitter follower @syedasyraf4 . Wherever you are, I pray things go well for you. Dec 09, 2012
‘ @muffiehbs05 @carney I guess you’re right, Muffie, much more than a fund http://t.co/78kXw5Rf A home 4 student & alumni moral decay $$ Dec 08, 2012
.@historysquared The slow corruption of the last set of strong balance sheets in the US. Leverage is being substituted for organic growth $$ Dec 08, 2012

FWIW

My week on twitter: 57 retweets received, 1 new listings, 54 new followers, 65 mentions. Via: http://t.co/SPrAWil0 Dec 13, 2012

Day: December 15, 2012

Selling Options Cheaply (Did You Know?)

Sorted Weekly Tweets