Sorted Weekly Tweets

Obamacare

 

  • Boehner Tells Caucus House Will Keep Fighting Health Law http://t.co/VZeSkA5Jrq If the company mandate is delayed, y not the individual 1 $$ Aug 24, 2013
  • California Health Exchange Might Face Online-Enrollment Delay http://t.co/5nTQeDFEAR More glitches as we get closer to Obamacare fiasco $$ Aug 24, 2013
  • Jeffrey Singer: The Man Who Was Treated for $17,000 Less http://t.co/dTGoBndvj1 You have to understand how negotiable medical costs are $$ Aug 23, 2013
  • UPS to End Insurance Coverage for 15,000 Working Spouses http://t.co/Ndp3ptfaUD This is the future as Obamacare comes into existence $$ Aug 22, 2013
  • Jeffrey Singer: The Man Who Was Treated for $17,000 Less http://t.co/ymcmo3b8dg First party payment reduces health costs, not ins/govt $$ Aug 22, 2013
  • Republicans in Echo Before Big Burn Defy Affordable Care http://t.co/DwuUuc7FvL In this era, it probably helps the Reps, LBJ’s era not $$ Aug 22, 2013
  • Obamacare exemption — none dare call it treason http://t.co/TdZ8z7sTIk Congress and Administration r exempt from the PPACA $$ #FTL Aug 20, 2013
  • GOP keeps needling Obamacare in key Senate states http://t.co/rXg2MsHiJe Complexity of PPACA makes it its own worst enemy; ez 2 thwart $$ Aug 19, 2013
  • Norquist Says Obama to Take Health Delays, Avoid Shutdown http://t.co/lKKhe0I8zo House can block things, Senate cooperation unlikely $$ Aug 17, 2013
  • Obama Suspends the Law. What Would Lincoln Say? http://t.co/uxQRHyhFtM Article made me sympathize with Lincoln. Could Obama be Impeached? $$ Aug 17, 2013

 

Wrong

 

  • Wrong: Why the US Power Grid’s Days Are Numbered http://t.co/sSjDoiXi0T Overstates the green case. More difficult to dismantle grid $$ Aug 24, 2013
  • Wrong: How To Invest Like Carl Icahn http://t.co/61croVtW0J U can’t invest like Carl Icahn b/c u can’t b big enuf 2 bully mgmt teams $$ $IEP Aug 23, 2013
  • Word to Fed: Less Talk, More Action http://t.co/EuWfo30Ilg When u have 2 re-explain what u r doing a # of times, u probably don’t get it $$ Aug 22, 2013
  • Wrong: Janet Yellen called the housing bust and has been mostly right on jobs http://t.co/wHq8SyYUT2 Yellen did not call housing bust $$ Aug 19, 2013
  • Wrong: Summers-led Fed might raise rates faster than Yellen http://t.co/GBD0jd2X0N Forces being dealt w/r larger than individual ideas $$ Aug 19, 2013

 

Politics & Policy

 

  • Has Eric Holder Found Wall Street’s Nightmare? http://t.co/spsgAgaFGq 2 early 2 say; tough to prove that people had bad motives vs stupid $$ Aug 24, 2013
  • Ivory Tower Types Fall for Bigger Inflation Fix http://t.co/alOdKibbY0 Inflation is tough to eliminate once it gets entrenched $$ Aug 22, 2013
  • Obama to Propose College Ratings System on Bus Tour http://t.co/9W4oHqAZuE Haven’t we distorted incentives on college enough already? $$ Aug 22, 2013
  • Secret Court Faulted NSA for Collecting Domestic Data http://t.co/u5ZfLMGSgt If govt can’t tell us about it, they shouldn’t b doing it $$ Aug 22, 2013
  • Why Science and Politics Don’t Mix http://t.co/yfpdWVgsD1 Science is compromised when observers cease 2b neutral & overstate conclusions $$ Aug 22, 2013
  • Justice Department Plans New Crisis-Related Cases http://t.co/S8CkRvgUS8 nothing serious here, just late grandstanding & posturing $$ Aug 21, 2013
  • New Details Show Broader NSA Surveillance Reach http://t.co/YheueW5yH0 Giving up liberty 4 security means that we will have neither $$ Aug 21, 2013
  • More Than Half of U.S. College Students Get Federal Aid http://t.co/mWuvnqKdUp If we reduced the aid given 2 students, tuition would fall $$ Aug 20, 2013
  • Fannie Mae, Freddie Mac Ignoring Write-Offs, Report Says http://t.co/DFpqBCQg8M Reported earnings may b overstated, as dud loans persist $$ Aug 20, 2013
  • Raising Kids? Your Taxes Are Far Too High http://t.co/DxMfAii5rQ Especially counting value of kids future contributions 2 entitlements $$ Aug 20, 2013
  • http://t.co/8hiwajBdQY Congress gets a bunch of general and basic nostrums about how financial risk modeling is done and implemented $$ Aug 20, 2013
  • Fed Finds 18 Large Banks Weak in at Least One Capital Area http://t.co/js2t2GA4QD Fed’s study shows moderate knowledge of risk mgmt $$ Aug 20, 2013
  • Greenwich Stilt Houses Foreshadow Impact of New FEMA Maps http://t.co/k1NCEJu3QH Think of the taxpayer subsidy from premiums that r2 low $$ Aug 20, 2013
  • Treasury Faces Coupon Conundrum With 5Yr Sale, Wrightson Says http://t.co/BlkOiDQUc2 We have computers now, not everything has 2b eighths $$ Aug 20, 2013
  • Last Bernanke Years Shows No Sign of Buyer’s Remorse http://t.co/Fxn65Dplc6 Why should he? Providing liquidity easy; taking it back hard $$ Aug 20, 2013
  • The other part of the story is that people who work have a purpose, and that makes them happier. Shame about younger people not employed $$ Aug 20, 2013
  • Mailman at 72 With America’s Longest Route http://t.co/dO83WuaDhl Long story showing future, where old people keep working til they die $$ Aug 20, 2013
  • NSA broke privacy rules thousands of times per year, audit finds http://t.co/ktru7qsjpP NSA search abuses r not rare; we need to end NSA $$ Aug 17, 2013
  • The Baby Penalty http://t.co/JrFZ7FdznR Female PhDs who have children lose opportunities. True 4 all who take time from work 4 family $$ Aug 17, 2013
  • Teachers Face License Loss http://t.co/xwUNt0eXi5 This almost never happens. The teachers’ unions always find a way 2 protect their own $$ Aug 17, 2013

 

 

Rest of the World

 

  • It Looks Like 1998 Again in China http://t.co/7iMW87Dwi7 Excess capacity to export what world doesn’t need plus high financial debts $$ Aug 22, 2013
  • ‘Leftover women’ in China face tough choices in looking for love http://t.co/AFcEc1jNy5 Women like2marry up, which means many won’t marry $$ Aug 21, 2013
  • Who Is Ali Khamenei? http://t.co/sRFb9Vx1Bw Long & nuanced article on the supreme leader of Iran – History, views, influences, & theories $$ Aug 20, 2013
  • Mexico’s Pemex Looks to Tap U.S. Shale http://t.co/pNybLXhEkl This doesn’t look like a smart idea; most good business is incremental $$ Aug 20, 2013
  • Allies Thwart America in Egypt http://t.co/MaZFQgiytT Israel, Saudis and UAE Support Egyptian Military Moves $$ #choosefreedomvsdemocracy Aug 20, 2013
  • Israel Boosts Ties With Egyptian Army as US Mulls Cuts http://t.co/kCEBsYkn9r Politics makes strange bedfellows $$ Aug 20, 2013
  • Al Qaeda ‘rat line’ from Syria to Iraq turns back against Assad http://t.co/HZT5GIq1Tv Actions taken against US in Iraq now harm Assad $$ Aug 20, 2013
  • Bankers Supplanted by Elves as Iceland Chases Cash http://t.co/0Y5VaiARla A place where allowing banks to fail worked well $$ Aug 20, 2013
  • Central-Bank Moves Blur the View http://t.co/jHDD9J3YNK Bodes well 4 their bonds, tough 4 the stocks of their exporters, importers ok $$ Aug 24, 2013
  • Potash Rift Seen Lasting as Asia Sales Said to Rile Uralkali http://t.co/ZukaWiW93y Interesting article reviews potash cartel history $$ Aug 22, 2013
  • Gold Rout Seen Bottoming by Analysts as China Buys http://t.co/mMaG8Jaknq & China Gold-Mine Deals at Record http://t.co/vONBXclnCB $$ Aug 22, 2013
  • Regulatory Concern Grows along with Surge in Interbank Business http://t.co/Y0oLNP3PK1 Surge in China Interbank lending is worrisome $$ Aug 20, 2013
  • Egypt’s Former President Mubarak May Be Freed http://t.co/YbrJ7Poanv A logical outcome, 1 that shows the Army is playing “for keeps” now $$ Aug 20, 2013
  • In classified cyberwar against Iran, trail of Stuxnet leak leads to White House http://t.co/WqTyDR1dqV Will this lead 2 anything negative $$ Aug 19, 2013
  • Last of Zuma’s Main Critics Sidelined as Vavi Suspended http://t.co/ngu2QOw2pq South Africa traded one oligarchy for another $$ Aug 17, 2013
  • The Dutch, Europe’s apostles of austerity, feel the economic pain http://t.co/W9ikIwOHN8 Paying the piper 4 taking on 2 much debt $$ Aug 17, 2013
  • Easy Credit Dries Up, Choking Growth in China http://t.co/7eazmWiqGK Payoff 4 malinvestment may b arriving. Japan 1989 -> China 2013 $$ Aug 17, 2013

Market Impact

 

  • Market Size Complex Systems = More Glitches http://t.co/6Gkq77izIJ We can reduce glicthes if we reduce complexity & choice 4 large $$ mgrs Aug 24, 2013
  • Americans don’t know anything about interest rates & portfolios http://t.co/V2rqmydGq1 Investment returns r magic 2retail $$ @reformedbroker Aug 22, 2013
  • Hedge Funds Severely Underperforming This Year http://t.co/PLQBp1ssb1 Net exposure relatively high, but heavily shorted stocks rally 33% $$ Aug 22, 2013
  • Low-volatility ETFs may not be what they used to be http://t.co/p4zpWCdQRj Any investment strategy can b overused, & returns vanish $$ Aug 21, 2013
  • Looking for value: When the child outperforms the parent http://t.co/gmylpI7pC8 Spinoffs r underanalyzed companies w/incentive 2 focus $$ Aug 21, 2013
  • Bond Trading Hampered as Buyers Retreat to Crowded Exits http://t.co/EBj9OFkhqW Overstates the degree dealer inventories affect prices $$ Aug 21, 2013
  • CLO Refinancings at $50 Billion Seen Rewarding Riskiest Issues http://t.co/Ld77dfXKxB Feels like 2006 in credit craziness $$ Aug 20, 2013
  • Repo Market Decline Raises Alarm as Regulation Strains Debt http://t.co/fFydHkauRI Repo market getting less liquid, that’s not so bad $$ Aug 20, 2013

 

 

Companies & Industries

 

  • Buyout of $AIG Unit Is On the Rocks http://t.co/zb7EftICWg Difficult to overstate how sensitive ILFC profits r2 cheapness of financing $$ Aug 22, 2013
  • Water + Sunshine = Fuel as Lab in California Chases Dream http://t.co/Nqd5eVn6Ar Dream indeed. Call me a skeptic on the science here $$ Aug 22, 2013
  • A New Spate of Deaths in the Wireless Industry http://t.co/EEVOPXlUc7 Every death is tragic, but w/deaths <20/yr, that doesn’t seem high $$ Aug 22, 2013
  • Kodak Reorganization Approval Affirms Move From Cameras http://t.co/wUX4KrfsGR Unsecured creditors get 4-5% of their claims, stock gets 0 $$ Aug 21, 2013
  • Problem for Bezos: Mall Becoming Cheaper Than Amazon http://t.co/tYs8IFQ48Q Who knows? Maybe $AMZN will have to earn $$ to exist. #nonprofit Aug 20, 2013
  • The busiest acquirer you haven’t heard of http://t.co/RMHEieOBCW Many acquisitions in a short time is usually a recipe for disaster. $$ Aug 20, 2013
  • Shale Grab in U.S. Stalls as Falling Values Repel Buyers http://t.co/BYEQHshJ8T Anytime there is a boom, prices overshoot, then writeoffs $$ Aug 20, 2013
  • What Tim Cook and Apple should do with all that cash http://t.co/xHA5hdDGmv Harder than it sounds, most of the $$ trapped abroad, bond deal Aug 20, 2013
  • The 1975 Buffett memo that saved the Washington Post’s pension http://t.co/Qqz2IaMJni Buffett was always a smart guy; prescient in 1975 $$ Aug 19, 2013
  • Cisco and the Search for New Life http://t.co/C2lqAabQvb Companies w/strong core businesses have a hard time expanding into new business $$ Aug 17, 2013
  • Rail-Truck Shipments Reveal Holiday Sales Clues http://t.co/fEWjKfTd13 Holiday sales may rise, higher volume of goods transported in 2013 $$ Aug 17, 2013
  • Fixed Indexed Annuities Merit Caution http://t.co/kdT27o1bMC Law should give contractholders right 2 full value withdrawal if transferred $$ Aug 17, 2013
  • Oil-Pipeline Cracks Evading Robotic ‘Smart Pigs’ http://t.co/c7d8qMuP6f If cracks r along the welds, they don’t get detected easily $$ Aug 17, 2013

 

Other

 

  • JPMorgan Sub-New Normal Growth Seen Vexing Next Fed Chief http://t.co/gFB1O6s6o0 New Fed Chief will face economy traveling @ stall speed $$ Aug 23, 2013
  • Economists Need to Admit When They’re Wrong http://t.co/GSX4QDPKuf Crisis caused by a huge rise in private debt; economists missed that $$ Aug 22, 2013
  • Green Bay: More Legends Than Streets http://t.co/eGukXTOlvd Smallest franchise city has more heroes than streets to append their names $$ Aug 22, 2013
  • Abandoned Dogs Roam Detroit in Packs as Humans Dwindle http://t.co/AJd1lBtxKG This is strangely fitting; Detroit slowly becomes 3rd world $$ Aug 21, 2013
  • Eating of Sausages http://t.co/Nwp7mpZZvY “no Christian is bound to do those things which God has not decreed.” Of Calvinism old & modern $$ Aug 20, 2013
  • Seth Lipsky: Ben Bernanke’s Anger and the AIG Case http://t.co/EIxoFh4jwu Questionable legal ground4the Fed’s takeover of AIG 2b explored $$ Aug 20, 2013
  • Why An M.B.A. Isn’t Good Enough Anymore http://t.co/P6JKKWoP8R High costs, changing demographics, technological change-> reinvent the MBA $$ Aug 20, 2013
  • Broker Audits Marred by Conflicts of Interest, Watchdog Says http://t.co/00kRqPx3xm Deficiencies >95% of brokerage audits it reviewed $$ Aug 20, 2013
  • What’s Ailing America’s Cattle? http://t.co/eTaMLTK1zc Scientists Suspect Livestock-Feed Additives Are Behind Distress $$ Be careful Aug 20, 2013
  • Student Test Scores Rose When Teachers Retired Early http://t.co/su46ULkSKm Teachers peak in effectiveness after 5-10 yrs of experience $$ Aug 20, 2013
  • Hybrid Bond Gamble Pays Off as Stimulus Spurs Gains http://t.co/O2KMEkGHDm Paid off for now, but these hybrids sting w/higher probability $$ Aug 17, 2013
  • John Laporte, T. Rowe Price Manager Who Beat Peers, Dies at 68 http://t.co/DcVjjdwE8w Pretty certain I met him @ Baltimore CFA, good guy $$ Aug 17, 2013
  • Are College Costs Reaching a Breaking Point? http://t.co/jF7uod3s6q Possibly, if Federal aid drops & fewer people go to college $$ Aug 17, 2013
  • New Software Forces You to Pay Attention During Company Training http://t.co/KMDa0N54Ju Next, they’ll give you drug that makes u like it $$ Aug 17, 2013
  • Price Manipulation Includes Silver and Gold http://t.co/n1GDExJFz4 When prices r fixed by survey or transactions, games will b played $$ Aug 17, 2013
  • Francis Ouimet’s U.S. Open Victory That Changed the Game Forever http://t.co/I6Gg0BIBmU Meet Francis Ouimet, the amateur who won US Open $$ Aug 17, 2013
  • A Chance to Own a Home for $1 in a City on the Ropes http://t.co/b6InU728br Get your own home in Gary, Indiana for $1 $$ Aug 17, 2013
  • How a Black Hole Really Works http://t.co/H80JnUplKE Scientists watch black hole at center of Milky Way eat a cloud of gas $$ Aug 17, 2013

 

Comments, Replies, and Retweets

  • #FollowFriday Thanks @ReformedBroker @pelias01 @researchpuzzler for being top influencers in my community this week :) Aug 23, 2013
  • Commented on StockTwits: ILFC very different than NetJets. $BRK.B capable of buying ILFC, but Buffett won’t pay to… http://t.co/wa4vHaf3I6 Aug 22, 2013
  • Thanks @dpinsen @ReformedBroker for being top engaged members in my community this week :) | insight by http://t.co/sern3wLA13 Aug 22, 2013
  • Thanks @pelias01 @TopInvestBlogs for being top engaged members in my community this week :) | insight by http://t.co/sern3wLA13 Aug 22, 2013
  • Thanks @howardlindzon @moneyscience for being top engaged members in my community this week :) | insight by http://t.co/sern3wLA13 Aug 22, 2013
  • Thanks @brasil247 @JerseyDemic for being top new followers in my community this week :) | insight by http://t.co/sern3wLA13 Aug 20, 2013
  • “Many acquisitions in a short time is usually a recipe for disaster.” — David_Merkel http://t.co/6Qch6bCndG $$ Aug 20, 2013
  • @pdacosta FWIW, I thought the document was amateur in discussing financial risk management http://t.co/ncoMMMv3oG Open 2other thoughts $$ Aug 20, 2013
  • @buzzmerk @StevStiffler @truedat157 @pcyansee the greater Q is why the Mars Corp hasn’t sued him for trademark infringement- ruins the brand Aug 20, 2013
  • Thanks @AboveAvgOdds @Nonrelatedsense for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • Thanks @japhychron @The_Analyst for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • Thanks @GaelicTorus @AndreCimini for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • Thanks @ReformedBroker @dpinsen for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • Thanks @pelias01 @TopInvestBlogs for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • Thanks @howardlindzon @moneyscience for being top engaged members in my community this week :) | insight by http://t.co/V4fE5CrHI4 Aug 19, 2013
  • “Buffett would have made a very good actuary, and with a bonus: he can communicate complex concepts…” — Merkel http://t.co/IMKXael1nL $$ Aug 19, 2013

 

1 Comment

  • Greg says:

    No mention of Goldman being allowed to DK their bad option trades last Tuesday?

    http://online.wsj.com/article/SB10001424127887323980604579029350370204112.html

    Just about every firm has done bad trades at one time or another. “Fat fingers”, someone leaning on a desk without realizing they were pressing on a keyboard; clicking a mouse too fast; or the timeless typo like when $104 becomes $140. For those of us who have been on sell side, we have all seen (or been) the guy who hears the customer ask for a quote on one security, and we give them the quote on line above/below.

    For all the years I have known, the person who gives the bad quote is stuck with it. Those with a Series 7 license are legally bound to honor the bad quote even though it costs us. Quotes are binding, unless you explicitly say “subject” (and that arguably is more applicable for institutional trading). After you see what the bad quote does to your P&L at the end of the day — you will be 1000x more careful tomorrow.

    So why was Goldman allowed to DK their option trades? Why aren’t they eating the losses like everyone else?

    If it is so obvious the prices were bad, then why doesn’t Goldman have some filters on their HFT algorythms to make sure “obviously bad” prices don’t go to the exchange?

    Sure, encouraging filters (by making them honor their quotes) might slow them down a few milliseconds and make them think before allowing their computers to send erroneous quotes in the future; would that be such a bad thing?

    I know: touchy subject. No one wants to alienate the great and powerful Goldman or their captive regulators.

    But our profession needs to think about market integrity also. When we allow the great and powerful to walk all over the little guy (aka our customers and ourselves), it makes the little guy think the market is rigged against him. Whether the market is actually rigged or not, the perception that markets might be rigged does as much damage as if it were real.

    What happened to the Wall Street saying “your word is your bond”? Goldman effectively said “done” when their computers sent the quotes to the exchange.

    Goldman later claimed that the costs would have been $100 million, but this would not be material to their balance sheet — telling them to honor their quotes according to long established tradition would not pose a systemic risk.

    It would certainly impact the options desk P&L. Presumably all the desks with algorithm trading would install filters to stop “obviously bad” quotes. Why would such filters be bad? Wouldn’t they add to market stability?

    By contrast, allowing “obviously bad” trades to be DK’d en mass does pose systemic risk. It makes customers wonder why they aren’t allowed to cancel their bad trades too: “Why does Goldman get to cancel their bad trades, but as a customer I don’t?”

    As we all sit around wondering why the public doesn’t trust Wall Street — we might want to put long term market integrity above near term political concerns. Of course Goldman will be upset, but they will adapt with better computer systems (or not and go out of business). In the meantime, the markets will be stronger and more stable.

    Seems like Goldman missed a fantastic opportunity to honor their word, improve their computer algorithms, and to discourage the widely held perception that they have a major firm wide ethics problem.