Sorted Weekly Tweets


  • Delta Sees S&P 500 in Reach as Credit Ratings Rise  I would b cautious here, airlines have destroyed a lot of capital $$
  • Berkshire’s Weschler Holds Almost $150 Million of DaVita  FD: + $BRK.B | The slow takeover of Davita continues $$
  • The real Apple tax scandal  Scrap the corporate income tax & raise taxes on realized capital gains & dividends $$
  • Berkshire Hathaway Seeks Release of ResCap, Ally Financial Report  Wants 2c if there was any fraudulent conveyance $$
  • Oil Revolt Generates $35 Billion as Icahn-Singer Agitate  Many activist investors trawling in energy stocks $$
  • Inside Google’s Secret Lab  “Since its creation in 2010, Google has kept X largely hidden from view.” Long but good $$
  • Explaining Apple’s Irish Tax Dodge  A good transfer pricing accountant is worth his weight in gold $$
  • Deal of the Week: Penney Holds Real Value  $JCP needs to turn around its retailing much more than managing property $$
  • After all, that’s how BK conservation is done in the insurance industry, taxpayer never gets on the hook (please ignore $AIG) $$
  • Customer Service Is Next Job for IBM’s Watson  Could Watson replace the grunts that take care of customer service? $$
  • “…insurance giants such as ACE Ltd and Endurance Specialty Holdings Ltd”  $ACE is a giant @ $31B , $ENH not @ $2B $$
  • $VOD to Keep $VZ Payout Amid Europe Struggles  Not surprising they stalemated on VZW, & no special div | FD: + $VOD $$
  • Regulators Scrutinize Firms’ Ties to Insurers  How much unsafe assets are held by life companies of $APO $HRG $GS ? $$


Market Dynamics

  • Murray International’s Stout Says Stocks Too Expensive  This means invest in cash, long Tsys or gold if correct $$
  • Bargain-Hunting Buoys Treasurys [sic]  Strength Returns as Bargain-Hunters Appear, but Prices Still Fall 4 the Week $$
  • EVERGREEN VIRTUAL ADVISOR  A very good publication this week. If u beg, u can get on the distribution list. $$
  • Richard Band notes that the S&P 500’s prices-to-sales ratio is 1.5 to 1, almost 60% above its average since 1955  $$
  • Paul Tudor Jones: Macro trading, babies r a ‘killer’ 2a woman’s focus  Any significant outside activity harms focus $$
  • Is This the Best Time for Investors? Don’t Bet On It  Long term valuation measures r flashing red, play defense $$
  • 3 articles on gold  &  &  New hedging, record shorting, paper gold $$ $GLD
  • Follow the Leader @mktanthropology  Global economy feeling deflationary; stock markets poised to follow down $$
  • Goldman raises S&P 500 targets through 2015  Not impossible historically, but not likely, profit margins would b2hi $$
  • James Surowiecki: Is There a Stock-Market Bubble?  Argues profit margins sustainable: lower taxes, globalization $$
  • Looking for Investments With Higher Yields in a Low Interest-Rate World  Grab hi yields now= walk tightrope; no net $$
  • Gold in Yen and SP500 and Bitcoin : Back to the Future  Gold almost back to peak in yen terms & much more $$
  • Gold Bear Bets Reach Record as Soros Cuts Holdings  Market delivers pain to the gold longs: bears now overextended? $$
  • Gold Rebounded After Moody’s Says U.S. May Face Downgrade  People want certainty somewhere, whether in Govt or gold $$
  • Junk Stocks Spur Broadest Equity Advance Since 1995  Highly indebted firms take the lead in the equity market $$

US Politics & Economic Policy

  • Obama Bully Pulpit Bullied With Congress Probes Obscuring Agenda  Maybe we should limit Presidents to one 4-yr term $$
  • Fannie Mae Profiting as Market Middleman Angers Lenders  If we really want 2wind down F&F, we should end purchases $$
  • Goldman Sachs Research Disputes TBTF Subsidy  In quiet times, advantage difficult to detect, easy during crisis $$
  • Unaccountable Executive  If President doesn’t run government, who does? Can delegate authority, not responsibility $$
  • The Prisoner’s Dilemma of Central Banks [pdf]  Everyone has an incentive 2 inflate, which leaves everyone worse off $$
  • The Fed Is Squeezing the Shadow-Banking System  As they should: repo market was a big part of the financial crisis $$
  • The FED & F-35: Still no Rules of Engagement  The Fed doesn’t know what they are doing; making it up, smiling a lot $$
  • Sheila Bair: Dodd-Frank really did end taxpayer bailouts  Will follow BK pecking order, after that charge industry $$
  • Naming Names in the Dodd Frank Mess  Mark Wetjen manages to stymie Dodd-Frank reforms; some of it is good, some bad $$
  • What Strong Dollar? US Boom Provides Oil Hedge  W/more energy produced in the US, $$ has less impact on oil prices
  • White House urges Senate to cut crop insurance in farm bill  Difficult to beat the Ag lobby on crop insurance $$
  • Health Law Costs: Employers Eye Bare-Bones Plans  Obamacare messes up the health system; avg person less well-off $$
  • Puerto Rico Statehood Bid Gets New Push  Sensing future bankruptcy, Puerto Rico reconsiders a permanent liege-lord $$
  • Does Rand Paul’s Rise Signal A Broader Libertarian Moment?  Somehow I think this one will end in disappointment too $$
  • US Immigration Plan Encounters Business-Labor Rift  Fascinating how seeming certainty of immigration bill has gone $$
  • The end of QE?  @izakaminska tells us why more QE won’t help, & why the process will have to end soon. $$ #becareful

Rest of the World

  • Turkey Moves 2Curb Alcohol Sales  This will b an interesting test of govt power; vodka is delivered quietly in Iran $$
  • Foreign Fighters Enter Syria to Defend Shiites and Al-Assad Regime  “Islam is a religion of peace” “Islam is a…” $$
  • The Great Chinese Property Bubble: a Wall of Worry?  2 much 2 occupy; prices 2 high; enough debt 2b troublesome $$
  • BRICS risk ‘sudden stop’ as dollar rally builds  EM blowups often preceded by rise in $$ | Good 4 EM exporters though
  • Wrong:Avoid These 3 Stocks on Japan, Says Expert  An expert that doesn’t understand insurance trashes $AFL | FD:+ $AFL
  • Asia Goes on a Debt Binge as Much of World Sobers Up  Over-indebted economies don’t grow rapidly; complexity chokes $$
  • 2 articles on Japan  &  Rising bond yields & trade deficit, monetary policy drives both $$
  • Two articles on the Tokyo market rout  &  Abenomics is stretching the limits of the possible $$
  • Nobel Laureate Phelps Warns Against EU as Iceland Abandons Talks  Iceland gets smart, doesn’t join the Eurozone $$
  • Death in Parched Farm Field Reveals Growing India Water Tragedy  Water shortages r big factor 4 India’s development $$
  • The Abenomics Experiment: Major Risks for Banks  If interest rates rise 2much, banks in Japan go to neg net worth $$
  • Experts call for urgent measures to tackle debt  One advantage of US over China; we resolve troubled debts better $$
  • Stockholm Riots Continue for Third Night  If this can happen in Stockholm, it can happen in a lot of other places 2 $$
  • Hollande Bonds Without AAA Shine Brighter Than Gold  Similar things worked 4 Japan 4a while, but now may b shifting $$
  • World’s Biggest Volatility Jump Spurs Fund Outflow  Investors invest outside Japan 2 escape perpetually falling yen $$
  • China April housing inflation quickens to two year high  Chinese inflation is the endgame for many globally $$ #theend



  • Soldiers Turn Entrepreneurs as One Million Exit Military  Military training has similarities w/entrepreneurship $$
  • The Exercise Equivalent of a Cheeseburger?  Exercise is good; too much exercise is worse than little exercise $$
  • How Rail is Reshaping America’s Energy System  Summary piece on how tank cars r taking cheap fuel to the coasts $$
  • Wined, Dined, Canned  Inside the insiders game that is the Cannes film festival $$ Movie about the business of movies
  •  Teen’s invention could charge cellphone in 20 seconds  Wonder how stable supercapacitor will b? Might b an issue $$
  •  “I’m going to be setting the world on fire,” she said.  Having seen overpowered capacitors burn, could b literal $$
  • The Tech Innovator Who Almost Killed Saddam Hussein  Long interesting article; Sabra becomes rich computer maven $$
  • Getting Along With the Original Other Woman—Your Mother-in-Law  Husbands, support your wives. Mothers, bow out $$
  • New Rival Emerging for Bloomberg Chat  Bloomberg may learn the hard way: messaging security can’t be compromised $$

Comments, Replies, & Retweets

  • @Sir_Strangelove Had not caught that, thanks for correcting me
  • “There is one thing you neglected: Baa bond yields are 3% lower than in 1999. That roughly comports…” — D_Merkel  $$
  • @joshuademasi It’s like long-tail reinsurers in the mid-’80s, most were technically insolvent, but book capital was +; losses eaten slowly
  • “Jeff Matthews is correct; Dealbook, though usually good, is wrong.” — David_Merkel  $$
  • “This is a failure of the regulators, that they let this happen at all. They have the power to top it” — D_Merkel 
  • @danielckoontz I know that dividend swaps exist, can imagine the possibility of leverage, don’t think it’s done much though, I hope
  • @danielckoontz So long as there isn’t any leverage on the person holding the dividend paying stocks, generally it should self-limit


  • My week on twitter: 35 retweets received, 1 new listings, 66 new followers, 30 mentions. Via: