Europe

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• Risk of Bank Failures Rising in Europe, E.C.B. Warns?stks.co/iXnFdgzCpNK1ctKk7ijN/w&pagewanted=all&pagewanted=print Bad scene $$
• New BoE chief Carney will devalue sterling, Pimco warns?stks.co/sEin?It’s useless but everyone has 2try2 “beggar thy neighbor” $$
• The French Economic Maginot Line: A Very Weak Strongpoint?stks.co/cVlX French economy weakening; 2 big 4 Germany 2 rescue $$
• Greek Economy Optimism Seen in Yield-Curve Switch?stks.co/aVsv?Perhaps they r doing better, but what of France & Germany? $$
• Hungary Cuts Policy Rate to Record Lowstks.co/sENf?Another nation sucked into the march to global ZIRP; what will break first? $$

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Asia

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• Asia’s Huge Debt Growth Problem: Remember 1997??stks.co/sEsy?Graph on this page is worth a look; could b another Asia crisis $$
• Aging Chinese Face a Bleak Picturestks.co/cWG6?This should b no surprise; it is the logical outcome of the 1 child policy $$
• China Failure to Grow With $1T Is Warning to Li: Economy?stks.co/jXddNegative Marginal productivity of capital in China $$?#FTL
• China’s Xi Comes Calling on Americasstks.co/rEua?Interesting to see the Chinese need 4 products in the Western Hemisphere $$
• China Failure to Grow With $1T Is Warning 2 Li: Economy?stks.co/dVzl?10 years from now, they’ll wonder y we worried about China $$
• China-Based Cyber Attacks Rise at Meteoric Pace?stks.co/sEco?This is not news. Practice safe computing, & you will be safe. $$
• Japanese Housewives Cooling on Aussie Uridashi?stks.co/sEcn?The strong yen is gone,& small investors realize there is no gain $$
• Tokyo Shares Down Sharplystks.co/bW4G?Japanese stocks get hit, why should anyone be surprised? BOJ engaged in voodoo economics $$
• Japan?s Bond Market Wants BOJ to Purchase More Short-Term?stks.co/gXRpTraders off-balance as BOJ stops giving them easy profit $$
• China’s Shuanghui to Buy Smithfield Foods?stks.co/pEdZ?A wise addition to the strategic pork reserve; let the pigs flow west! $$
• Japan plays down concerns bond price spike could hurt recovery?stks.co/fXGZKuroda thinks 3% higher interest rates won’t hurt?! $$
• Fears over US stimulus highlight Japan?s fragility?stks.co/aVlz?Japan is reaching the limits of what monetary policy can do $$

 

Rest of the World

• Sudan Threatens to Close Pipelinestks.co/cVvE?Two corrupt regimes arguing over oil – a lose/lose situation $$
• Bank of Israel Lowers Rate Again After Surprise Mid-May Cut?stks.co/eVoS?Many fringe economies import low rates 2 aid exporters $$
• Despite Detractors, Don’t Buy Talk of Dollar’s Demise?stks.co/cVeU?The US is in good shape compared to Japan, Eurozone & China $$
• Fringe economies are forced to absorb loose monetary policy, or let exports suffer while hot money tries to get yield in their countries $$

 

Central Banking

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• Simon Johnson: Choosing the Next Head of the Federal Reservestks.co/bWEQ?No doubt that Dick Fisher would b a lot better $$
• Is the Fed Right to Calibrate Asset Purchases to Economic Data?stks.co/fXYR?Coarse data doesn’t allow 4 fine policy precision $$
• US Banks Looking Solid As Bernanke Keeps The Juice Flowing, But Perils Of Financial Crisis Loom?stks.co/pEdg?Low rates will end $$
• Fed?s 100-Year Roots Grew From Virginia Congressman?stks.co/sEWJ?Puff piece of secular hagiography fawning over Carter Glass $$
• Kuroda Struggles W/Communication as Japan Rates Rise?stks.co/eVkQ?Most central bankers don’t know forces w/which they r toying $$
• Also, strong communication skills at central banks r a weakness, not a strength; better 2 move back to the pre-87 era, operate in shadows $$
• The more communication a central bank puts out, the more markets become “tightly coupled” w/the CB, thus limiting the effects of policy $$
• Stephen Poloz: Top 10 headaches BoC chief faces right off the bat?stks.co/qEKO2 much debt amid a mortgage bubble germinates $$

 

Market Impact

 

• NYC Pension Chief Seeks $500,000 Managers to Cut Out Wall Street stks.co/eWPZ?Insourcing looks easy; u need bright mgmt 2do it $$
• Contrarian Investing in Quality Franchises?stks.co/dWEz?It is not enough 2b contrarian, u have 2b right $$?$STUDY
• James DeMasi on Overcoming Adversity to Start and Grow a Value Investment Management Firm?stks.co/eWPVIntelligent stuff $$?$STUDY
• Pension-Fund Swings Make Case for Cutting Risk?stks.co/tEuZ?Much as I like ALM, probably the wrong time 2 trade stocks 4 bonds $$
• Junk Bonds Having A Bad Week (Down 0.96%) Amid Broader Pullbackstks.co/bWEV?Yet this is small & we need it 2 persist 4 weeks $$
• Evaluating 3 Bullish Argumentsstks.co/dW9s?PR better than logic, but he is right that the market is overvalued $$
• Sallie Krawcheck: Big Banks Still Don?t Have Enough Capital?stks.co/rEou?No 1 knows how large the ultimate catastrophe could b $$
• Morgan Stanley to Downsize Fixed Income?stks.co/dVzj?I think this is a mistake. Wall Street exists 2 sell debt$MS?$$
• Record Cash Sent to Balanced Fundsstks.co/eVv4?Hail the humble balanced fund, which has the virtue of keeping panic away 4most $$
• SEC Refocuses on Accounting Fraud stks.co/gXI1?With Crisis-Related Enforcement Ebbing, SEC Is Turning Back to Main Street $$
• A hedge fund for u & me? Best move is 2 pass?stks.co/eVoW?Sage advice from @ritholtz?| survivor & reporting bias & fees 2 high $$
• Goldman Sachs Buyback Orders Reach Highest Level of Year?stks.co/bVkE?Are buybacks part of the voting or weighing machine *now* $$
• Margin Debt Hits a Record, Showing Confidence?stks.co/fX96?Confidence or froth, amid a market influenced by aggressive $$ policy?
• Beware of ‘Bargain’ Stocks?stks.co/hXKKI disagree for now; look4 strong companies in industries under stress that will survive $$
• Defaulted Manhattan Complex Rewards Patient $$?stks.co/iXCC?Sadly, equity & mezzanine were wiped out, patience pays only4 snr debt

 

Insurance

 

• MetLife cuts 2,500 advisers seen lacking chance of success?stks.co/dWF0?Retail chief says productivity ‘way up;’ costs way down $$
• Regarding the prior tweet, I have wondered 4 ~25 years when something like that would happen; has long been needed @ most life insurers $$
• $PRU?Takes On?$AFL?in Benefits After Health Law?stks.co/fXpO?Much easier2 “enter” a market than create a sales force $$ FD: +?$AFL
• $ENH?CEO steps down, replacement named?stks.co/iXML?Sudden. Former CEO of?$AXS?picked, owns ~1.5%, will own ~4% as comp; FD: +$ENH
• The former CEO of?$AXS?was pushed out by his board; he built Axis, but was a bit of a prima donna. What will he do to $ENH?? | FD: +?$ENH?$$
• One more note: the competent former CFO of?$PRE?is now CEO of?$AXS?, having been passed over for the CEO job @?$PRE?$$?#musicalchairs

 

US Politics

 

• Pelosi: ?We have to pass the bill so you can find out what is in it.? The more we find out, the less sense it makes.stks.co/pF0S
• GOP senators want IG probe of Sebelius’ ‘Obamacare’ fundraising?stks.co/dWA5Obama administration is more corrupt than Nixon $$
• Bible Class in Texas Schools Faulted as Unconstitutional?stks.co/iXnP?Look in the comments 4 bigoted ideas that aren’t American $$
• Obamacare Competition Has Roots in Economist?s Passion?stks.co/dW9n?If you believe in neoclassical economics u r deluded $$?#loser
• Regulators Want Better Financial Datastks.co/gXjV?Well, duh, but there are costs involved & the government does not bear those $$
• When Chinese Walls Come Crumbling Down?stks.co/rEot?There r still conflicts of interest on Wall Street. Be aware & defensive $$
• Deposits Guaranteed Up to $250,000?Maybe?stks.co/pEdo?Congress transfers insured deposit risks to the taxpayers & depositors $$
• Liberty Reserve Joe Bogus Account Said to Reflect Evasion?stks.co/jXKv?Money laundering goes high-tech; Feds take action $$
• Obama Accepting Sequestration as Deficit Shrinks?stks.co/gXIj?Whaddaya know? A policy no one liked actually isn’t that bad $$
• Health Law Critics Seek to Gut It by Attacking Exchanges?stks.co/rEO6 Exchanges will only attract sick, will b high costs4all $$
• The US Federal Government Spending: a Huge Fiscal Drag http;//stks.co/iXMS Cutting less useful spending it may help, not harm $$
• Hollywood Loses Blockbusters as ?Iron Man? Finds Subsidy?stks.co/gXIX?Like building stadiums, except u have to keep doing it $$
• Obama Nominates 2 Senate Aides for S.E.C. Posts?stks.co/fX8w?A team 2 assure continued incompetence & weak enforcement $$
• Banks’ Lobbyists Help in Drafting Financial Bills?stks.co/pEJH?Basic goals: min capital reqs, max flexibility, weaken regs $$

 

Other

 

• Cord Cutters Lop Off Internet Service More Than TV?stks.co/hXwv?You can cut your costs, but what does that do to your life? $$
• Online Course Providers Reach Out2 Wary Professors?stks.co/jXde?Better to ask the question, “Where is new revenue coming from?” $$
• Victor Davis Hanson: Why Some Wars Are So Savage?stks.co/bW4K?Evenly matched wars that take a long time lead to barbarism $$
• Mary Meeker is Back With Her 2013 Internet Trends Report Slidesstks.co/pEfP?A lot of interesting information $$ Things change
• European Sunscreen Roadblock on U.S. Beaches?stks.co/tENx?If you sunburn like me, maybe European sunscreens will help u $$
• Dear Grads, Don’t ‘Do What You Love’ stks.co/hXVe?The solution is 2love what u do; working 4 $$ helps other priorities in life
• Death Jolts Texas Investorsstks.co/aVsN?Since his body was found 2 weeks ago, investors say they lent him millions of $$?#badodor
• Common Core Education Is Uncommonly Inadequate?stks.co/sENHNational curriculum standards tend 2b dumbed-down; local better $$
• Science Can?t Pin Powerful Tornadoes on Global Climate Change?stks.co/eVoUA rare fair article on climate @ Bloomberg. Who knew $$
• Noahpinion: Bets do not (necessarily) reveal beliefs?stks.co/dVdu?In which Noah Smith arbs Brad Delong & Patrick Chovanec $$?#FTW
• Immunology Gets Turned On Its Headstks.co/jX4P?Discovery may aid vaccine design&begins2explain y gene therapy runs in2 trouble $$
• Is This Google X’s Plan to Wire the World??stks.co/hXKJ?Solar powered balloons dot the skies, could last 5 years & upgrade $$

 

Companies

 

• Buffett’s Safe Bet on Vegas?stks.co/gXjUThe Maestro does it again, takes a marginally profitable company, & refinances it $$
• Goldman Upgrades Defense Contractors?stks.co/gXjT?My but how contrarian; won’t there b less cash flowing to defense companies? $$
• Berkshire Hathaway Unit to Buy NV Energy for $5.6B?stks.co/dVzk?Another wise move by Buffett; utility earnings make $$ vs funding
• Alcoa Cut to Junk by Moody?s as Aluminum Price Declines?stks.co/pEkEAnother sign of economic weakness, but Alcoa will survive $$
• Payday Lenders Evading Rules Pivot to Installment Loans?stks.co/eW4q?I like people to have choice, but not 1 that leads2a trap $$
• Empire State Building IPO Plan Is Approved?stks.co/fXUM?”The second-largest IPO for a U.S. real-estate investment trust” ever $$
• BHP Halts Coal Expansion?stks.co/dVthDownturn in the global economy & thus steel makes demand fall for metallurgical coal $$?$BHP
• Newsweek for Sale: IAC Seeks Buyersstks.co/jXKo?The internet changes everything; say goodbye to a dinosaur $$
• Utilities Weigh Entering Rooftop-Solar Business?stks.co/sEWA?Sounds dumb; it’s a very different biz in almost every way $$?#FTL
• Samsung, Sony Court Indians as Subsidies Fund Factories?stks.co/gXIgIndia gives 25% subsidy4capital costs2setup tech plants. $$

 

Energy

 

• As US Oil Booms, an Unlikely Word Rises: Depletion?stks.co/dVl5?Wells created by fracking have shorter production profiles $$
• U.S. Oil Boom Divides OPECstks.co/pEUQ?Those most dependent on oil revenues want others in OPEC 2 cut, so that they can cheat $$

 

Replies, Retweets & Comments

• I just left a comment in “Energy stocks down, look to end week higher – Energy Stocks – MarketWatch”on.mktw.net/18DiBrm
• “I have read both. Buffett made mistakes that cost him, but never such that he could not bounce back?” ? D_Merkeldisq.us/8da393?$$
• Commented on StockTwits: Old tweet deleted, new tweet out?stks.co/iXMe
• “Don’t forget his purchase of 83% of CVR Energy. Equally good. FD: +$CVI ” ? David_Merkel?disq.us/8d9jmi?cc:@refomedbroker?$$
• @AlephBlog?Growth and the Market. Useful piece to help people make sense of seemingly over-valued equity market:wp.me/p3nd6r-4s
• Sets up future losses $$ RT@tomkeene: ?Cov-lite? loans soar in dash for yield -?FT.com?on.ft.com/12daxfK
• @kurtgodeldabomb?I like your name. Yes, that’s y I said it; I think its the voting machine 4 most companies, & weighing machine 4 a few
• “Until the strategy fails, and he asks you to leave.” ? David_Merkeldisq.us/8d97f5?$$
• @pope_stephen?Sadly, monetary policy was much better run under Volcker & Martin, & they were not going out of their way 2 explain the Fed $$

 

FWIW

• My week on twitter: 42 retweets received, 2 new listings, 60 new followers, 37 mentions. Via:?20ft.net/p