Sorted Weekly Tweets

Market Impact

  • Old-School Stock Picker Weitz Struggles With Index Craze stks.co/gYnx Weitz has a really good long term track record, good guy $$
  • High-Yield Companies Cash In on Dividend Deals stks.co/cXCJ W/the rise in interest rates, junk corporations move 2 refinance $$
  • IRS Reconsiders What Qualifies for REIT Status stks.co/jYiU There should b1 tax law for all things like corporations in the US $$
  • New Revenue Recognition Rules Arriving Soon stks.co/rFvA I’m afraid the new rules will b less clear than current GAAP rules $$
  • How the Robots Lost: High-Frequency Trading’s Rise & Fall stks.co/gYk9 Every investment strategy has a capacity limit, even HFT $$
  • Sam Zell says sell stks.co/rFr3 1 month old; he also thinks that efforts by corporations 2 manage single family homes will fail $$
  • Banks will take hit on mortgage refi buststks.co/pFwq This may true 4 whole industry, but some banks will profit via MSRs, ALM $$
  • FASB’s Seidman: Americans Prefer Rules to Principles stks.co/pFpb We should stick w/GAAP & ditch IFRS convergence. We know GAAP $$
  • IFRS Makes Progress Around the Worldstks.co/tFir Incomparable Financial Reporting Standards r less converged than many realize $$
  • 401(k)s Are Doing Great Except For A Few stks.co/eX9U Fine,except 401(k) users don’t put enough away 2 care 4 their retirements $$
  • Why Low Volatility Is Losing Its Alphastks.co/cX0J Any strategy can be overfished. Monoculture rarely leads to good results $$
  • “Any strategy can be overfished. Monoculture is a recipe for disaster. How many analogies do I…” — David_Merkeldisq.us/8dev71 $$
  • Money-market fix is a flawed compromise stks.co/dWtx My proposal was cleaner and far better: stks.co/dWty$$
  • Bet on CDOs Returns to Wall Streetstks.co/bWy4 Synthetic CDOs take the field again, just in time to fleece anxious yield hogs $$
  • Bruce Berkowitz Places Bet on Fannie, Freddie stks.co/jYCL A lot of this rides on political future of F&F, w/Berkowitz unsure $$
  • Don’t Sell Your Soul for Yield, Pimco’s Simon Says stks.co/qFRi He retires @ 52 2pursue philanthrophy & fun; bond risks high $$
  • Rise in US Bond Yields Jolts High-Dividend Stocks stks.co/qFIa If they r used as bond substitutes, will trade more like bonds $$
  • Brokerage firms debate value of Certified Financial Planner title stks.co/dWU1Interesting 2c firms asking CFPs to decertify $$
  • The 100% Stock Solution stks.co/sEyrOnly the stoutest souls should try this; best time to start is after a meltdown, if u can $$
  • The Intelligent Investor: How Funky Is Your 401(k)? by @jasonzweigwsjstks.co/dWKf Unusual bond funds not recommended 4 novices $$
  • Why Hedge Funds Aren’t Worth the Money stks.co/iXxM Double-alpha & leverage r great in theory; in practice they don’t work well $$
  • ‘ @Matthew_C_Klein @felixsalmon But I disagree: blogs.reuters.com/felix-salmon/2… Cov-lite loans r a sign of general credit degradation $$
  • Interesting argument by @felixsalmonthat cov-lite bonds are good because they give borrowers greater flexibility:blogs.reuters.com/felix-salmon/2…

 

US Politics

  • The NSA Doppelganger stks.co/jYiY Govt has been collecting records on every phone call made in the US ever since Patriot Act $$
  • Will New Health Insurance Be Too Expensive 4 America’s Lowest-Paid?stks.co/rFvF Law of unintended consequences teaches $$ lessons
  • Trading Dollar Bill for Coin Big Savings, No Small Change stks.co/iYrY This could makes sense if we eliminate the penny as well $$
  • Fed Hurdle of 4 Straight 200,000 Payrolls Sets Bernanke View stks.co/iYrW I don’t think the Fed has a coherent policy response $$
  • An Insider’s Guide to Obama’s Summit With China’s Xi stks.co/sFp7 Makes me think that nothing much will come out of this summit $$
  • Start Your Engines: NatGas Revs for Transportation stks.co/hYwm This is more complex than it looks b/c liquification low temps $$
  • Obama’s Civil-Liberties Record Questioned stks.co/qFu9 Obama is not a change agent; he is merely Bush-plus & we r the losers $$
  • US declassifies phone program details after uproar stks.co/hYwd Terrorism is an unlikely threat – doesn’t justify the snooping $$
  • Alan Greenspan’s Epic Incompetence: Another Shoe Drops stks.co/jYXF This piece provided the link 4 the last tweet $$#greenspan
  • How Elite Economic Hucksters Drive America’s Biggest Fraud Epidemicsstks.co/eXA3 Of course fraud should b a crime, it’s theft $$
  • NSA seizes phone records of Verizon customers stks.co/jYXC Shouldn’t a warrant b required 4 such indiscriminate investigation? $$
  • Jefferson County, AL, Reaches Bankruptcy Deal stks.co/gYbR $JPMloses most, then taxpayers. “gross incompetence, waste, graft” $$
  • Debt Deal in Alabama Will Cost JPMorgan stks.co/aX7U Sewer rates rise. Everyone loses except the speculators who bot debt cheap $$
  • Warplanes to Tankers Delayed by Contested US Contracts stks.co/gYUYLosers contesting contracts is now normal & slows things $$
  • FHA Losses Could Hit $115 Billion in Extreme Scenario stks.co/gYLJ 4 political reasons, FHA guaranteed lousy loans, losses come $$
  • Jefferson County Paves Way for Bankruptcy Exit stks.co/cWky The biggest losers r taxpayers, but then they elected the schmoes $$
  • Mistake: $AIG$PRU$GE Named Systemically Important by Panelstks.co/jYCN Focus should b: financing long assets w/short loans $$
  • The Real Scandal at the IRS stks.co/sFMf“…larger threat of abusive behavior by a fearsomely powerful government agency.” $$
  • ObamaCare Bait and Switchstks.co/jYCG Obamacare was never meant 2 make healthcare affordable 2all, only 2 those w/o insurance $$
  • It really annoys me, because the key of financial safety is asset/liability mgmt & all of new regulations do not tighten this up $$
  • Risk that the Feds should care about is the toxic mix of illiquid assets funded by liquid liabilities; long liability structures r safe $$
  • Feds close to picking ‘risky’ non-banksstks.co/iY88 Really looks like the Feds r going2goof again & call non-risky firms risky $$
  • Overstated: Risk-Averse Culture Infects US Workers, Entrepreneursstks.co/eWev Generally moderate risk-taking leads2best result $$
  • Little Cause for Inflation Worriesstks.co/jXms Far better 2 use median or trimmed mean CPI, than the more doctored core PCE $$

 

Europe

  • France demands emergency EU summit over China’s wine tax threat stks.co/dX8ATrade wars have 2 start somewhere, however small $$
  • Moody’s Casts Doubt Over Nordic Havens Amid Housing Risksstks.co/bXCh Rest of world adopts bad monetary policy of US, EZ&Japan $$
  • Central Banks Put More Scandinavian Currencies in Reserve stks.co/jY4tEnables the Nordic countries to import asset inflation $$
  • Swiss Seen Passing US Bank-Tax Law to Avoid Worse Fate stks.co/qFJY Most compromises r better than seeing many banks die $$

 

Companies & Industries

  • Tyson CEO Says Smithfield Deal Could Aid Pork Exports stks.co/iYnc Many Chinese might like 2 buy high quality American food $$
  • $COST CEO Craig Jelinek Leads the Cheapest, Happiest Company in the World stks.co/gYk1 Investing in workers vs cheap workers $$
  • Wells Fargo Will Benefit From Interest-Rate Increase, Sloan Says stks.co/eX42Could just b brave words, few give up income $$
  • Fannie Shares Seen as Worthless Surging in Disconnect stks.co/dWtw The politics of the situation r in flux; no margin of safety $$
  • Goldman Wants You to Forget About Too Big to Fail stks.co/gYUx There is a subsidy to the big banks, not as large as some think $$
  • Like Berkshire, Markel thrives on buy&hold stks.co/rFbN Thomas Gayner, like Buffett is a compounder w/underwriting float $$ $MKL
  • Alcoa Junk Downgrade Is Rare Trauma for Dow Stocks stks.co/iYYW Time2 modernize & create News Corp Indexstks.co/gYUZ $$
  • Whale of a Trade Revealed at Biggest US Bank With Best Control stks.co/iYYVLong but definitive article on $JPM credit trade $$
  • Scor to Buy Generali Reinsurance Unit for $750 Million stks.co/tFMQ How do u say “Scottish Re” in French? “Scor” $RGA$$ #spitspit
  • Apple Saves $724 Million With Well-Timed Sale stks.co/qFCo 20-20 hindsight, but $AAPL timed their debt sale well $$
  • Kinder Morgan Cancels $2 Billion Pipeline Plan stks.co/iY7O Sending crude via rail costs same & does not require LT contract $$

 

Asia

  • Hedge Funds in Japan Ride Small-Cap Rally on Abenomics Boost stks.co/eX41Be wary here, because there is no clear macro path $$
  • The Wonk With the Ear of Chinese President Xi Jinping stks.co/qFfh A modernizer who wants the Communist Party 2 keep control $$
  • Topix Profits Percentage Increase Tripling World Even in $400 Billion Wipeout stks.co/qFUz Wait. Weak yen also has bad effects $$
  • Poultry-Plant Fire in China Kills Dozensstks.co/jXzF Sad, but it is common 4 firms that hire low wage workers 2 cut corners $$
  • Muddy Waters to Jupiter Seek Profit as Risk Rises stks.co/eWeV Convoluted financial systems can’t handle as much debt b4 crisis $$
  • Heard on the Street: Let Me Not See Old Age in China stks.co/qFCr Elderly poor who live away from the coasts suffer in China $$

 

Other

  • Co-hosts of radio show ‘The Pursuit of Happiness’ commit suicide togetherstks.co/sFhK Happiness pursued as its own end fails $$
  • Harvard Humanities Fall From Favor Among College Students stks.co/rFgfThere is no one more unrealistic than a humanities prof $$
  • To Catch a Thief: Banks Try Using Big Data stks.co/jYPf The banks try 2 detect correlated behavior among fraudsters & succeed $$
  • How Retirees Pay Zero Taxesstks.co/eX3v If you r older & have little wage income there r often ways 2 reduce your taxes $$
  • Bermuda With Ireland Targets of Tax Vigilantes, Minister Says stks.co/hYTPThey were really surprised when NATO blockaded them $$
  • Marriage Advice: Sharing a Hobby Is Good for Your Relationship stks.co/tFMwOur hobby is raising kids, will have2find a new one $$
  • Meredith Whitney’s “Great Migration”stks.co/fYHh Disliked by genuine muni experts @catelong &Joe Mysakstks.co/gYGr $$
  • Government 2 Hold Back Growth for Years stks.co/qFJ0 Balancing the budget may have far less drag than most suppose, lowers risk $$
  • Vatican says Pope Francis got it wrong, atheists do go to hell stks.co/iY8I Adults @ Vatican correct Pope’s wishful thinking $$
  • Wrong: Smartest Decision Ever Made by Bill Gates, Warren Buffett stks.co/rFAj If u raise your children right, they can handle $$
  • Behind the ‘Internet of Things’ Is Android—and It’s Everywhere stks.co/tF9hAmazing how 1can change the world on lo profit mgns $$

 

Finance

  • Has BIS Found the Solution to Too Big to Fail? stks.co/fYcY Has issues, but much better than what was done in 2008. Worth a try $$
  • The rise of the real collateral ‘mining’ business stks.co/bX4T Overproduction of commodities feeds the shadow banking system $$
  • What is the opposite of helicopter money? stks.co/eX43 Negative interest rates suck liquidity, as people seek stores of value $$
  • World Chasing U.S. Yield With 25% Deal Jump: Real Estate stks.co/hYUF Enough inventory 2 pick from & seems 2b recovering $$
  • A World Awash in Credit with Much Work to Do stks.co/gYHW Increasingly hard to find safe yield; EM still seems promising,but… $$
  • i’d like to see: zip code level correlation between house price growth from 2011 to 2013 against absentee purchase share during same period.
  • Hedge Funds Boost Gold Bull Bets Most in Two Months stks.co/jY4r Makes me a little edgy for gold prices $$
  • Mortgage Investors Get Blindsidedstks.co/pFMV Bonds Backed by Subprime Loans Had $1B Previously Undisclosed Losses $$ #surprise
  • Emerging-Market FX Gets Ugly. Very Ugly. stks.co/qF1e Yeah, I feel it, just look at the chart in $EDD of which I am long $$

 

FWIW

  • My week on twitter: 51 retweets received, 58 new followers, 34 mentions. Via:20ft.net/p