Category: Tweets

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Market Dynamics

 

  • Gold Volatility Beats US Stocks and May Last: Chart of the Day http://t.co/7Bo9dvOKaN Bodes ill 4 gold in short-run, good in the long-run $$ Apr 19, 2013
  • S&P500, & their friends: Market Fatigue? Confirmation Signs?http://t.co/OCmnASBP4b Momentum failing in small cap stocks, not a good sign $$ Apr 18, 2013
  • Some (more) crushing news for goldbugs http://t.co/PQOeK0IRxp Depletion is the bane of gold producers, pushing up the cost of ore $$ Apr 18, 2013
  • Just Before the Crash http://t.co/8t7EYWI5mP Institutions create their own crises by herding into risky asset classes & fleeing en masse $$ Apr 18, 2013
  • End of the supercycle looms: commodities, stocks sell off http://t.co/PvQzo907SZ Calling end of cycle is gutsy when resource demands r up $$ Apr 17, 2013
  • Commodities Crushing Stocks http://t.co/nh08C1eAIJ One day does not make a market; that said, increased volatility is a negative $$ Apr 17, 2013
  • Gold?s fair value is $800 an ounce http://t.co/w3AYvPu1Qn Way too low, unless inflation will remain negative 4 some time $$ Apr 17, 2013
  • 4 Signs That The Housing Recovery Is Stalling http://t.co/R0Q8VoGbgX Interesting set of charts; feels like a dead cat bounce in Res RE $$ Apr 16, 2013
  • Busting Sell in May and Go Away Myth http://t.co/QrNPXFLLYo Buy&Hold best in LR, then buy November, sell April $$ C: http://t.co/eoV7EtmcSv Apr 16, 2013

 

Companies & Industries

 

  • Caterpillar and Federal Express: Two Global Bellweathers, Two Worries ?http://t.co/GKzv0om5Ia Where did all the ppl go talking of growth $$ Apr 19, 2013
  • Chevron Defies California On Carbon Emissions http://t.co/edOiu38VaJ California’s policies r2 strict, another reason y CA state is failing $$ Apr 19, 2013
  • $VZ Says Tax Hurdle 2 $VOD Wireless Buyout Fixable http://t.co/9loiR5KxCl $VZ should buy $VOD, spin off what it doesn’t want | FD: + $VOD $$ Apr 19, 2013
  • More Cracks Undermine the Citadel of TV Profits http://t.co/3ilOm7dN19 How 2 keep information bundles together, good subsidizing mediocre $$ Apr 16, 2013

 

United States

 

  • Boston Bombings Bring Americans Closer to Living on Edge http://t.co/zpkw58VB4v Free societies have to live w/risk or we destroy freedom $$ Apr 18, 2013
  • Clinging to Guns?and Abortion http://t.co/2W3Dvh9WyR Hadn’t heard story about Kermit Gosnell; really surprised it isn’t a bigger story $$ Apr 18, 2013
  • Route Change Forces Keystone Foes to Shift Focus http://t.co/pbrXMdWBYt Environmentalism is intellectually bankrupt, a prime example here $$ Apr 18, 2013
  • Is making US banks foresee trouble more trouble than it’s worth? http://t.co/b6IBN7AA5v Done fairly, no. If abused, yes. Analysts needed $$ Apr 17, 2013
  • Retirement Account Cap With Obama Budget Buoys Insurance http://t.co/wsK7ZSj8cQ A positive for life insurance among the most wealthy $$ Apr 17, 2013

 

China

 

  • Chinese Go Nuts After a Bumper Crop http://t.co/CGbhVKwYe1 knew Chinese liked peanuts so much; thought their favorite nut was cashews $$ Apr 19, 2013
  • China’s Potential growth may slow later in decade: Older population shrinks labor force http://t.co/Okz3WtKwnD Pop growth -> Econ growth $$ Apr 19, 2013
  • Study Finds Massive Europe Investment by Chinese State Companies http://t.co/e33I5YwjVJ Does China get how difficult it will b2 get out $$ Apr 18, 2013
  • China Local Authority Debt ‘Out of Control’ http://t.co/wpO6dmaJ7H Yet another sign of debt disarray in China; Govt will take losses $$ Apr 18, 2013
  • Has China’s Economy Hit a ?Dead End?? http://t.co/Cbb4dMdNcj You bet. it is similar to Japan in 1989, and the USSR in 1965: Stagnation $$ Apr 18, 2013
  • Slower China Growth Signals Days of Miracles Are Waning http://t.co/Bp1zuogXWO Capital productivity declining in China; hard landing $$ Apr 16, 2013

 

Rest of the World

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  • Risky Economic Plan for Japan Inspires Hope and Fear http://t.co/airp5vkGJL Gambler Abe presumes that inflation can help Japan $$ #FTL Apr 19, 2013
  • Chavez Heir to Be Sworn in as Vote Dispute Roils Investors http://t.co/ZxI0disbOc Somehow this doesn’t feel stable. Electronic vote audit? $$ Apr 19, 2013
  • Spanish Squatters Invoking Robin Hood Deter Investment http://t.co/sKuX9C6S87 What is not paid 4 is not valued, Spain is dying slowly $$ Apr 18, 2013
  • Spanish Pension Reserve Fund:All In For Spanish Debt! http://t.co/wYG9HBLR7L Not all that different from Social Security; backed by taxes $$ Apr 18, 2013
  • The ECB Fragmented Monetary Policy http://t.co/w9lFbXbJSf DIfficult 4 the EZ 2b anything other than a 2-tier capital mkt: feast & famine $$ Apr 16, 2013
  • The riddle of Europe?s single currency with many values http://t.co/W8n5p7YOXL A euro isn’t equal everywhere in EZ, time 2 end the euro $$ Apr 16, 2013

 

Other

 

  • 10 things Coke, Pepsi and soda industry won?t say http://t.co/IRvqvnqvTm Avoid sweetened fizzy drinks; they aren’t good 4u $$ #simple Apr 17, 2013
  • The spreadsheet error in Reinhart and Rogoff?s famous paper on debt sustainability http://t.co/hPdw3VPh4Q Oops, even professors goof $$ Apr 16, 2013
  • Inside Bloomberg?s Twitter A-List (Well, At Least a Fraction of It) http://t.co/zCeVLZM2nB Brings best tweets of the moment to BB users $$ Apr 16, 2013

 

Wrong or Late

 

  • Wrong: To Boost Retirement Savings, Stop Giving Tax Breaks on 401(k)s http://t.co/JnZPEDvn7W “Nudges” eventually fail, tax breaks don’t $$ Apr 19, 2013
  • Late: Efforts to Revive the Economy Lead 2 Worries of a Bubble http://t.co/RpfWgT2v9w Bubble will b revealed when Fed 1st hints 2 tighten $$ Apr 18, 2013
  • Wrong: Economic Data Galore, but No Certainty http://t.co/My3ixW60y9 1 thing is certain, the ability of economists 2 forecast is abysmal $$ Apr 17, 2013

 

Replies, Retweets & Comments

  • W/all the white flower petals falling off trees, it looked like a blizzard 4a while. I said 2 my youngest, “Look, Snow.” She just smiled $$ Apr 19, 2013
  • @Tubulus In the short-run, no. In the long-run, yes. Those who need more spending $$ will eventually undo the enrollment & move 2 cash Apr 19, 2013
  • @finemrespice No, not sure, but to me slowly is a number of years, which we are well into. Cyprus was fast. Apr 18, 2013
  • “You didn’t ask him about the purchase of Scottish Re, which lost a lot of $$ . Y the free pass?” ? David_Merkel http://t.co/esyopPA0U4 Apr 18, 2013
  • “Sadly, neither really succeeded. The debt started growing uncontrollably in their terms, leading?” ? David_Merkel http://t.co/0YFxMOUJGM Apr 18, 2013
  • ‘ @StockGravity It is not certain that money will b printed, though I believe that will happen. I do think gold is cheap here. $$ Apr 17, 2013
  • RT @LauricellaTom: Pimco’s El-Erian: Easy money policies mean stocks, bonds “trading at very artificial levels” @MoneyBeat @Pimco #WSJ … Apr 16, 2013
  • @edwindearborn How do you define viral? I get that level almost every day when you add in everything… and I am not that big. Apr 16, 2013
  • @portfolio14 @Greenbackd I said no in my piece, but here is the advice for market bottoms: http://t.co/d13GQgp7TI $$ Apr 16, 2013

FWIW

  • My week on twitter: 42 retweets received, 2 new listings, 53 new followers, 25 mentions. Via: http://t.co/cPSEMLXpb8 Apr 18, 2013

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Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Market Dynamics

 

  • The Scary Risks of Safety Bubble Up http://t.co/Tv3tG8TwSH Never forget that dividend stocks r stocks & that assets r risky if overpriced $$ Apr 11, 2013
  • Cheap Mortgages Are Hiding the Truth About Home Prices http://t.co/bQoXGHWVwO If Mtge rates r artificially low then housing prices r high $$ Apr 11, 2013
  • Suckers! Tech Execs Selling Stock as Nasdaq Hits High http://t.co/6lPnjk7sxu Fed is the tide; who will b found swimming naked when it ebbs $$ Apr 11, 2013
  • Banking Business: Complexity Cubed http://t.co/N1itJvjmbx If you want to simplify corporate structure, start simplifying the tax code $$ Apr 11, 2013
  • The 14% Rate of Corporate Profits Will Eventually Revert 2 Mean, Spoiling the Party http://t.co/6TZXKn29uX Don’t use P/E 2 measure cheap $$ Apr 10, 2013
  • Most big companies, unless they r simple start to underperform at mkt cap > $100B. Managing the complexity is virtually impossible. $$ Apr 10, 2013
  • How The Equity Q Ratio Anticipates Stock Market Crashes http://t.co/2LiEi9zFzR & The Q Ratio and Market Valuation http://t.co/9tM6srmneq $$ Apr 10, 2013
  • Check Here to Tip Taxi Drivers or Save for 401(k) http://t.co/cNg8wSSDmh Stupid efforts at manipulating behavior eventually fail $$ #quitit Apr 10, 2013
  • Questions to Ask Your Adviser About Fees http://t.co/78kLdmlTGN Main things what do you pay & find out who else is paying him Apr 09, 2013

 

Europe

 

  • Merkel?s No-Nuke Stumble May Erode Re-Election Support http://t.co/B8c0441GDR An unforced error; far better 2 invest in Nuke plant safety $$ Apr 11, 2013
  • Swedish Banks Make Money Ditching Cash as Krona Goes Virtual http://t.co/pcWOQztjwL It is a mistake to make $$ disappear. Ask Cyprus why $$ Apr 11, 2013
  • Economic Crisis Hits the Netherlands http://t.co/63VuWJta03 Imagine a nation where 120% LTV loans & trading homes every 3 yrs is common $$ Apr 10, 2013
  • ECB Survey Challenges Image of Poor Southern Europe http://t.co/ITmwyBr5ng I suspect this study is wrong or measuring the wrong thing $$ Apr 10, 2013
  • Why Thatcher Wouldn?t Succeed in Our ?Lean In? Culture http://t.co/CKpMa4GYov U have to + in the concept of killing sacred cows w/courage $$ Apr 10, 2013
  • Portugal austerity plan frays http://t.co/ukBVsCYNeE Top court struck down wage cuts and lower pensions for state workers; what now, Troika? Apr 09, 2013
  • Soros: Europe faces ‘slow death’ Japan is trying to escape http://t.co/SEtqiNEBBU Seems 2 argue for massive QE, but no sign that QE works Apr 08, 2013
  • Why Rescue Fragile Banks? Outsource Them Instead http://t.co/ixYB95jHug Exile TBTF banks to the E-Zone; let them pay 4 the bailouts Apr 08, 2013
  • Europe Builds Own Chapter 11 http://t.co/kHrgFmMHc2 Moves closer to the US, but still is not as flexible in rehabilitating corporations Apr 07, 2013

 

Credit Markets

 

  • Foreclosures Jump in New York as US Sees Decline: Mortgages http://t.co/oaz5prhQVA Judicial f/c states catch up w/the rest of the US $$ Apr 11, 2013
  • Pimco’s Gross Turns Positive on 10-Year Treasurys http://t.co/8uBxkzWxgK Guessing what central banks will want 2 buy, mug’s game Apr 10, 2013
  • Bank Investors Press Breakups to Add Value, Burnell Says http://t.co/DQefb93MB5 Biggest banks r worth more broken up; can’t manage well $$ Apr 10, 2013
  • Banks rethink the branch, but will it work? http://t.co/JwDHF22Re4 This article is just another way 2say there r2 many banks & branches $$ Apr 10, 2013
  • The leverage story banks want to hide http://t.co/yebYHRCxn5 To avoid bank insolvency focus on liquidity of assets/liabs in stressed times Apr 09, 2013
  • Contagion Starts Small http://t.co/0PeQhSd6Qb Small->large requires domino debt failures, needing liquidity for illiquid, or safety mismatch Apr 09, 2013
  • Time bomb to the next crash is ticking as debt sales surge http://t.co/zn41h2eJ8E Investors requiring safety mismatch buying unsafe debt Apr 09, 2013
  • Where Bank Regulators Go to Get Rich http://t.co/hGnGn3hpwt An astounding array of former regulators aiding “end arounds” on regulation Apr 08, 2013

 

 

Rest of the World

 

  • Ghost of Suharto Seen in Boomtowns Leading Indonesia Growth http://t.co/nYsu2yuN5L Indonesia often booms near end of global econ cycle $$ Apr 11, 2013
  • Low bond yields luring global central banks into equities: survey http://t.co/HoeVX2qHbY This is so unorthodox & cronyist it beggars belief Apr 09, 2013
  • Why Capitalism Won?t Change North Korea?s Regime http://t.co/dSxzrFaCgz Current leaders will lose out if people learn how badly they live $$ Apr 10, 2013
  • Clashes Highlight Egyptian Divide http://t.co/oaMtZkIbjC Hippocratic Oath applies to diplomacy w/”regime change:” “First do no harm!” Apr 08, 2013
  • Is the Global Economy Slowly Falling Apart? http://t.co/zMQx2ih1vE Good list of some of the major problems; overstated title/weak conclusion Apr 08, 2013

 

China

 

  • A Day in the Life of a Beijing ‘Black Guard’ http://t.co/P8ElsIJPMM Secretive groups stop Chinese citizens complaining about local govts $$ Apr 11, 2013
  • China Exports Miss Forecasts as ?Absurd? Data Probed http://t.co/Ycch2uQu04 Will b interesting 2c how people revise views on Chinese data $$ Apr 10, 2013
  • In China, off-balance-sheet lending risks lurk in the shadows http://t.co/Vg4tBss9gV Tough Q: how do the shadow banks & municipalities fund? Apr 09, 2013
  • New Bird Flu Seen Having Some Markers of Airborne Killer http://t.co/8QrkkXKaY5 No sign of mammal-to-mammal transmission, would not worry Apr 07, 2013
  • China Says It Can Manage H7N9 Virus as Infections Rise http://t.co/mfgn75pOIY No human-to-human transmission yet, SARS-like most likely Apr 08, 2013

 

Japan

 

 

US Politics & Policy

 

  • Options Few as US Leaders Told Saturday Mail Can?t End http://t.co/317ANktRxp Raise all postage prices, & double 4 junk mail $$ Apr 11, 2013
  • Boomers Push Doctor-Assisted Dying in End-of-Life Revolt http://t.co/kTfahFMOwh It’s almost like the Boomers want to corrupt everything $$ Apr 11, 2013
  • Medical School at $278,000 Means Even Bernanke Son Has Debt http://t.co/VrYkFx2Lcr Bad idea 2 invest where rules can b changed against u $$ Apr 11, 2013
  • Obama seeks to reduce US subsidy of crop insurance http://t.co/LfxfYeC63n It is time 2 end ALL Ag subsidies; just goes 2 Big Agriculture $$ Apr 10, 2013
  • FOMC Minutes Show Several Members Saw QE Over by Year-End http://t.co/xkcGOm2ly1 Don’t think so, but if true, lighten up on risk assets $$ Apr 10, 2013
  • Andy Kessler: The Pension Rate-of-Return Fantasy http://t.co/MzvTrYHBFh Excellent piece: bad pension assumptions; will lead2 benefit cuts $$ Apr 10, 2013
  • Interview with Harvard Economist Carmen Reinhart on Financial Repression http://t.co/XkB8Mf5R1Z Sane words amid macroeconomic snake oil $$ Apr 10, 2013
  • USDA asks White House to approve sugar-for-ethanol program http://t.co/g2Ldt5ge3s Utter corruption, $$ in the pockets of the US Sugar lobby Apr 09, 2013
  • A Primer for Understanding Obama’s Budget http://t.co/O9DgmLFQQD This is y Federal Debt always goes up by more than the planned deficit Apr 09, 2013
  • Evangelicals Push Immigration Path http://t.co/KCaNhFnhGd Governments limit immigration 4 selfish reasons; migrants come b/c desperation Apr 09, 2013
  • U.S. Plans New Laser Weapon for Persian Gulf http://t.co/ZdzZZTwSs4 Don’t get too excited; it only works at short range #studyphysics Apr 09, 2013
  • O?Malley Wins on Guns, Taxes Seen as 2016 Resume-Packing http://t.co/74fFr0oKkf Raided liability funds 2 finance current spending #phony Apr 09, 2013
  • How Obamacare Will Distort the Health-Care Market http://t.co/o0yHYcgESu This was easy2c in advance; ability to adjust premiums very limited Apr 08, 2013
  • Rhode Island’s Scary State Treasurer http://t.co/ib56cMDhWI Raimondo fires back after Forbes contributor attacks her http://t.co/qHeAUIw7P7 Apr 08, 2013
  • Workers Stuck in Disability Stunt Economic Recovery http://t.co/G0gqpP8pLM Many of these people should be called unemployed, not disabled Apr 08, 2013
  • Chicago Mayor’s Pension Conundrum http://t.co/iE5grwyd14 Tip of the iceberg; this is going on in different ways in all US states Apr 08, 2013

 

 

Wrong

 

  • Wrong: This Underused Metric Points To Big-Name Bargains http://t.co/MpAgxDmzsN 4 of 8 “bargains” r insurers; no way 2calc free cash flow $$ Apr 10, 2013
  • Wrong: Kill the 30-Yr Mortgage http://t.co/XKm9fRJXaR You don’t finance long-term assets like homes w/short-term debt. Badly thought-out $$ Apr 10, 2013
  • A better long-term solution to make the residential RE mkts more stable would be to ban mortgage insurance & second lien mortgages (HEL) $$ Apr 10, 2013
  • Wrong: Stalking the Silent Financial Killer in Our Midst http://t.co/HVOm4GCjHM Please kill this while little: LTC not underwritable $$ Apr 10, 2013

 

Other

 

  • Mmm, the Flavors of Fermentation http://t.co/i7sNTIixK4 Interesting article that points out the many ways we use fermentation 4 flavoring $$ Apr 11, 2013
  • Gates Helps Australia?s Richest Man in Bid to End Slavery http://t.co/UMUOLJ8nvT Noble goal 2 free those who r essentially kidnapped $$ Apr 11, 2013
  • How Thatcher Saved Britain http://t.co/Re3BWfPvPx She did not give in 2 the Unions, nor Argentina, nor USSR, nor the media; she stood alone Apr 10, 2013
  • Wood: the fuel of the future http://t.co/QZC54Ud6gy Having lived in a town where wood was the most common winter heat source, air was dirty Apr 09, 2013
  • Tour Data Suggest Tiger Woods Owes His Comeback to One Basic Skill?Sinking Putts http://t.co/WSOTrhn0iU Drive 4 show; Putt 4 dough. Apr 09, 2013
  • Label Decoder | Protein Additives http://t.co/HAx2Ta4UEu I think we are creating more health problems by eating processed foods Apr 09, 2013
  • 10 Insanely Overpaid Nonprofit Execs http://t.co/gH0Fa7EszO Caught btw managing a large enterprise & charitable mission; fight each other Apr 08, 2013
  • The Golf Shot Heard Round the Academic World http://t.co/EeFl5NFoMz Multiculturalism that cannot tolerate the ideas of conservatives Apr 07, 2013

 

Insurance

 

  • As an aside, SCOR’s balance sheet is more levered than it seems. Reminds me a little of Scottish Re (spit, spit) RGA’s looks solid FD:+ $RGA Apr 11, 2013
  • RGA, Scor in final race for Generali US unit-sources http://t.co/MUbVuvMpZv SCOR aggressive, will likely overpay | FD: + $RGA $$ Apr 11, 2013
  • Ace?s Greenberg Says Takeover Spree Beats Share Buybacks http://t.co/lwYLCLUg45 Seems like Evan is trying 2 create a mini- $AIG $$ $ACE Apr 11, 2013
  • Record levels for global reinsurer capital http://t.co/y70eA0H6Xz Listen 2 1Q conf calls, listen 4 pricing, divs, buybacks. EZ $$ been made Apr 10, 2013
  • Metlife on Offensive Against Systemic Tag http://t.co/NgBhd6I1p7 Life Ins cos shouldn’t b SIFIs unless they have short-dated funding $$ $MET Apr 10, 2013
  • Insurers see promise in pay-for-performance health plans http://t.co/Hrpy0KEk4M Skeptical: does not remove incentives 4 overuse by doctors Apr 09, 2013

 

Banks

 

  • Banks Are Not as Bad as You Think: Pettis http://t.co/rPWAZy1GbD Afraid I have to disagree, bad banks set back growth in 1870s & 1930s $$ Apr 11, 2013
  • Crapo Says He Opposes Setting Capital Standards With Legislation http://t.co/SshephsE7y Far better2focus on liquidity analyses under stress Apr 09, 2013

 

Technology

 

  • Regulators Feeling ‘Social’ Pressure http://t.co/sylIMHMQ65 In Age of Twitter, Old Rules That Don’t Address New Media Pose Challenges $$ Apr 11, 2013
  • Drug Conjugates: ‘Guided Missiles’ to Treat Cancer http://t.co/eA3EatBo7M Drug conjugates attack tumor cells, rather than just any cells $$ Apr 10, 2013
  • The Future Of Mobile [SLIDE DECK] http://t.co/iLu3Cr3uQ7 Long, but data-packed & a breezy read. cc @hblodget thanks, I learned some stuff Apr 09, 2013
  • Sponsors Now Pay for Online Articles, Not Just Ads http://t.co/wDOd0t57nd I get ~10/week of these at my blog. Have never taken any of them. Apr 09, 2013
  • We Just Took A Big Step Toward Having Super High-Definition Desktop Displays http://t.co/VL5LYGWACt So fine u won’t notice the pixels Apr 09, 2013
  • This Simple App Could Put E-Books On Millions Of Phones In The Third World http://t.co/wOFojOf6N2 Software & Cheap phones promote literacy Apr 09, 2013
  • Hypothermia Cure: Cooling Infants to Battle Brain Damage http://t.co/EG0o8qRu1H Interesting & Odd technology may benefit 0.1%+ of births Apr 09, 2013

 

US Economy

 

  • Murdoch-Diller Showdown Threatens to Make Fox Cable-Only http://t.co/pcIriVUDYw Endgame for the separation of content & transmission $$ Apr 11, 2013
  • North Dakota Undergoes Refining Renaissance http://t.co/UTFF2277sz U know things r hot when a new crude refinery is built from scratch $$ Apr 11, 2013
  • You Got In; Now, Please Come http://t.co/GWCQyqnIGV Speaks 2 the overcapacity problem in colleges; high fixed costs r driving pleading $$ Apr 10, 2013
  • ?Everyone believes that, given where we are with interest rates, the only eventual direction is up” I c this said daily maybe more $$ Apr 10, 2013
  • US Transports Economic Pulse : Trucks — Boats – Planes – Trains http://t.co/0kriEgfKnt Two up, two down — all in all, we muddle along Apr 09, 2013
  • I am become Ron Johnson, Destroyer of Worlds http://t.co/YUxa84LUKT @reformedbroker sets up future biz school case study. I + my $0.02 $JCP Apr 09, 2013

 

Replies, Comments & Retweets

  • Commented on StockTwits: Not really. At present I own the following for clients & me: $NWLI $RGA $AIZ $SFG $AFL &… http://t.co/q0v0UYfVRp Apr 11, 2013
  • Ouch RT @ReformedBroker: Gundlach: Forget Fed Minutes, QE is not stopping anytime soon, talk is just talk. Yellen’s down to do this til 2025 Apr 11, 2013
  • RT @ReformedBroker: “Japan is important to watch, it’s a pace car for stock market peaks, weird policy responses and currency debasement … Apr 11, 2013
  • I think so too $$ RT @ReformedBroker: Gundlach: “Emerging market corporate debt is THE best area of investment grade fixed income right now” Apr 11, 2013
  • @fundmyfund If “Everyone Ought to be Rich” then who will deliver the pizzas? 😉 Apr 11, 2013
  • @LaurenLaCapra Another idea: http://t.co/Gw1UKjS66Q DB available 4 pay: http://t.co/L2kLOZUlr0 League Tables cost $6 http://t.co/EG0FGgb6pu Apr 11, 2013
  • @LaurenLaCapra Thy this http://t.co/L9ZkQztxzD and if that’s not enough try this Google query: http://t.co/mO3CEmQwiM Take care Apr 11, 2013
  • ‘@PensionDialog 2003 vs now, interest rates were higher & valuations 4 risk assets lower. Pension returns will b lower over next 10 years $$ Apr 10, 2013
  • @ritwik_priya Saw that, though housing values have fallen across much of Europe, particularly where mortgage debt is high Apr 10, 2013
  • @PensionDialog That’s backward looking, while interest rates are forward looking. In 2003, 10Y Tsy yields were more than 2% higher than now Apr 10, 2013
  • ‘@EMostaque To some degree, others will let funding levels stay low (& hope), some will pay more $$ , some will cut benefits where possible Apr 10, 2013
  • @IraApfel Sadly, proposal will reduce assets in MMFs, which r usually more stable than banks in a crisis. Better: http://t.co/nC8D4TetbQ $$ Apr 10, 2013
  • Yes RT @asymptotix: So, if anyone must leave, it should be Germany (and Finland), not Italy, Greece, Ireland, Portugal or Spain.. Apr 09, 2013
  • @jarrodwilcox A free trade zone in Europe is a good thing & might prevent war; a common currency, the way it is going could start one Apr 09, 2013
  • @jarrodwilcox But I think WW 3 is a boogeyman. Sandwiched between Russia/USSR & the US, that big of a war wouldn’t be likely 2 happen. Apr 09, 2013
  • Probably the latest peak blossom since I’ve been here RT @EddyElfenbein: Cherry blossoms in DC http://t.co/IG9XiDIYrc Apr 09, 2013
  • RT @jarrodwilcox: @AlephBlog Euro looks like a disaster until you remember WWII. Political will to overcome divisions may still be will … Apr 09, 2013
  • Those are succinct insights in why the Euro would fail. There were other saying similar things at the time… http://t.co/7B0cpWcIhO Apr 09, 2013
  • RT @AndreCimini: @AlephBlog Yes, absolutely. Here’s a couple of very interesting articles on Canada: 1) http://t.co/HEXt7c8HKH 2) htt … Apr 09, 2013
  • @AndreCimini Cam Hui is a good guy; I usually agree w/him. Second article makes some very good points; I learned from it, tho I knew some Apr 09, 2013
  • @AndreCimini It was an interesting article. Interesting to contrast US/States v Canada/Provinces. Provinces do more; linked tighter2Canada Apr 09, 2013
  • RT @AndreCimini: @AlephBlog Here’s why CDN gov’t debt deceiving; add in provincial debt and total debt is around 86% of GDP. http://t.c … Apr 09, 2013
  • @AndreCimini Thanks, I had forgotten that. Apr 09, 2013
  • 1 straw blowing in the wind, some go other ways RT @ReformedBroker: Forward Earnings Estimates Set a New Record High http://t.co/4OxyGoYQcX Apr 08, 2013
  • @groditi Also factor in the drag from pension liabilities, reductions from spending rules from lower interest rates; I think it washes Apr 08, 2013

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FWIW

  • My week on twitter: 34 retweets received, 2 new listings, 61 new followers, 34 mentions. Via: http://t.co/cPSEMLXpb8 Apr 11, 2013

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Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

US Fiscal & Monetary Policy

 

  • Obama?s Budget Would Cap Romney-Sized Retirement Accounts http://t.co/3xC4YflVFO Might indirectly harm smaller accounts, article states Apr 05, 2013
  • Obama Budget Plan Would Curb Social Security Growth http://t.co/3wvyDuN3tE Small curbs; reinforces idea: can’t trust Govt on inflation Apr 05, 2013
  • Obamacare Sticker Shock: Are You Ready to Pay Double? http://t.co/hKaBmRzQMZ Getting bad enough that the Democrats might undo Obamacare… Apr 04, 2013
  • ?Greatest bond bubble in history? will burst in economic chaos, says Stockman http://t.co/SuFObaenCK Collins & Aikman makes him Cassandra Apr 04, 2013
  • How the Fed fueled an explosion in subprime auto loans http://t.co/g7r3Likl56 Cheap AAA financing + personal stories of aggressive lending Apr 04, 2013
  • Who will be the next Fed chair? Here are Wonkblog?s odds. http://t.co/44Bqhho05m Every one of these is a horrible idea, especially Yellen $$ Apr 03, 2013
  • Krugman should be careful tossing out the phrase ?cranky old man stuff.? It tosses like a verbal Boomerang. #livesinaglassshouse $$ #stones Apr 01, 2013
  • Stockman Warns of Crash of Fed-Fueled Bubble Economy http://t.co/wsxbP1tsTe Krugman called Stockman?s piece ?cranky old man stuff? $$ Apr 01, 2013
  • Fannie Mae and Freddie Mac Face New Problem: Profitability http://t.co/KobaLaMezt Some in Govt plan on keeping F&F under govt control $$ Apr 01, 2013

 

North Korea

 

  • Understanding Kim Jong Un?s Tantrums http://t.co/EeGXEUuvcH Has 2 prove tough guy bona fides to generals, while pushing modest reform agenda Apr 05, 2013
  • North Korean Nukes: How Worried Should We Be, and What Is Kim Jong Un Thinking? http://t.co/vsoaHvzQvI Mutual deterrence of first move Apr 04, 2013
  • Scooping Up North Korean Coins http://t.co/Sokc9jIfZe Jimmy Rogers picks up some unusual numismatic coins from North Korea. $$ Apr 01, 2013

 

Eurozone

 

  • Merkel Losing Allies in $700 Billion Shift to Renewables http://t.co/CEh2j8TE4p For a science PhD, she certainly tends 2 magical ideas Apr 05, 2013
  • Draghi Considers Plan B as Sentiment Dims Post Cyprus Fumble http://t.co/Wbu9ggM2cd Unwinding the Euro would be appropriate #unforcederror Apr 05, 2013
  • Le Fracking for Geothermal Heat Drawing Ire of French Oil http://t.co/5KHqRtfdO9 The French tie themselves in knots: irrational policies Apr 05, 2013
  • EU Unemployment: Titanic in Perspective http://t.co/uSxKOfNLn5 Summary of the EZone unemployment problem, culled from many websites Apr 04, 2013
  • A weakening Germany in a weaker EU http://t.co/CsuZ3KQ86x But can Germany rescue itself; whole EZone slowing down; time 4 action Mario! 😉 Apr 04, 2013
  • World from Berlin: ‘Germany Isn’t Living Up to EU Responsibility’ http://t.co/ozzZJbr5xR But what will Germany do when it has2rescue France? Apr 04, 2013
  • Audi Wants to Change a 45-Year-Old U.S. Headlight Rule http://t.co/V0aOqzGRi0 Only high & low-beams r allowed; Audi wants more variety Apr 04, 2013
  • Cyprus Turks Share Pain as Banking Crisis Revives Talk of Unity http://t.co/VmHELItCED Serious talks will come through younger politicians Apr 04, 2013
  • The ECB Fragmented Monetary Policy http://t.co/o8o8d0nucY Eurozone no longer has single monetary policy; euros not worth same everywhere $$ Apr 03, 2013
  • Euro Zone Unemployment Hits Record High http://t.co/lLgg6ZQVKg Fringe Europe suffers from the political dreamers post-WWII $$ #breakup Apr 03, 2013
  • Money Funds Meet Zero Yields by Breaking Buck Taboo: Euro Credit http://t.co/uD672kwCfP Short-term finance hits the wall in Eurozone $$ Apr 03, 2013
  • Slovenia?s Jazbec Inherits Bank System to Avert Bailout http://t.co/MDrCmuYmEk Don’t care how smart u r; pain involved in deleveraging $$ Apr 03, 2013
  • Texas wants its gold back! Wait, what? http://t.co/HuH7vg53Z8 This is a rational response to kleptocracy a la Cyprus. $$ Apr 02, 2013
  • Developing Nations Retreating from Euro as Reserve Currency http://t.co/tH91Uw76SC Predictable; can reserve currency allow confiscation? $$ Apr 02, 2013
  • President Hollande Failing to Control Unemployment Crisis http://t.co/XojVG1pZMl It would require considerable deregulation 2fix France $$ Apr 02, 2013
  • Sundown in America http://t.co/hpeIDbcvzl Much as I have not liked Stockman, the logic is decent; he is arguing for the free markets. $$ Apr 02, 2013
  • Mitch McConnell Prepares To Give Barack Obama The Political Shellacking Of A Lifetime http://t.co/AqOqm1Vwey Worth a read, PPACA is a dog $$ Apr 02, 2013
  • Wrong: Confessions of a Keynesian heretic http://t.co/MnUyIqdIZ2 Another believer in monetary alchemy, but not fiscal alchemy $$ #endthefed Apr 01, 2013

 

Japan

 

  • Wrong: Japan?s Brave New Monetary Era http://t.co/NxIU0Ovc4J Doing the same thing over & over & expecting a different result. Won’t work Apr 05, 2013
  • Japan’s Yen UnCompetitveness – Fukushima and the Yen – Hara-Kiri http://t.co/4UfjiH40XM Export > Import favors yen fall; now is vice-versa Apr 05, 2013
  • Kuroda to Bernanke: My Bazooka Is Bigger Than Your Bazooka http://t.co/4d2ocM3BJN “I can destroy my nation faster than u can. Nyaah! Nyaah!” Apr 05, 2013
  • Bank of Japan in Bold Bid for Revival http://t.co/DyKXQFLpsC We must devalue & inflate our way to prosperity! Apr 04, 2013

 

Church v State

 

  • Next few tweets will b controversial: Founder’s thoughts on “No establishment of religion” applied to the National govt, not the states Apr 04, 2013
  • Laws favoring certain churches persisted in various states until 1850s, & some had religious test oaths for officeholders into 20th Century Apr 04, 2013
  • The “test oaths” died for lack of use, clean up in the 1900s, was largely perfunctory. The next tweet contains today’s story Apr 04, 2013
  • Proposal would allow state religion in North Carolina http://t.co/SZIXiT2Xht Won’t pass modern constitution muster, but would in early 1800s Apr 04, 2013

 

Other US Politics

 

  • Seven Dumb Things Bankers Say http://t.co/2A5GTQn59w Among them that the big banks aren’t too big, & that the economy is not 2 financialized Apr 06, 2013
  • Deep in the Red of Texas, Republicans Fight the Blues http://t.co/UP2ZmRA4Fi Texas, future blue state, must motivate voters to care Apr 05, 2013
  • ‘Dear Airline, Here’s the Problem…’ http://t.co/6fBnR48kb0 Customized surveys home in on problems so airlines can fix complaints fast Apr 04, 2013
  • Pro-Gun Laws Gain Ground http://t.co/QXGXNbDwyZ Since Newtown Massacre, More States Ease Regulations Than Bolster Them Apr 04, 2013
  • Tough Calls on Prenatal Tests http://t.co/I4037KsAt8 Beware false positives; If u get a positive, do a 2nd invasive test 2 check Apr 04, 2013
  • 5 big Dodd-Frank battles http://t.co/Z7CfTuUVUA Volcker Rule, consumer bureau battle, random ratings, derivatives fight all on agenda Apr 04, 2013
  • Health Insurers Prevail in Medicare Fight With Washington http://t.co/Z8TskpLoi6 Another example of the perversity of the PPACA $$ #abolish Apr 03, 2013
  • Court says Stockton, California may proceed with bankruptcy http://t.co/DTgMt85Er1 Largest muni bankruptcy will challenge guarantors $$ $AGO Apr 02, 2013
  • Banks Win Dismissal of Substantial Portion of Libor Suits http://t.co/HzdRoTIYS8 Difficult 2 prove particular damage 2 claimants. $$ #toobad Mar 31, 2013
  • Frats Worse Than Animal House Fail to Pay for Casualties http://t.co/ViKN3I1Tb8 Very long article: national fraternities avoid liability $$ Mar 31, 2013

 

Financials

 

  • Wrong: Beware of those who cry ‘bubble’ about bonds http://t.co/DHvp60swjB Article argues about wrong classes of bonds; Tsys not bubble Apr 05, 2013
  • As Business Lending Rises, Concerns Emerge About Profit http://t.co/D8bdwXm5Re May b no defaults now, but loan pricing tighter than exp loss Apr 04, 2013
  • The Lurkers of Wall Street http://t.co/odjuKYZodt @reformedbroker Of “desk analysts” that turn to Stocktwits when they can’t find news Apr 04, 2013
  • Freeh Says Corzine?s Risky Strategy Helped Fell MF Global http://t.co/wSDrswvoYB B wary when companies pursue biz askew from main biz Apr 04, 2013
  • HSBC Converts Loan Clients to Enter Junk Top 10 http://t.co/2yj8hHMW4E Pay more in yield, but gain flexibility from fewer covenants Apr 04, 2013
  • Bond Traders Club Loses Cachet in Most Important Market http://t.co/7Hw4frsFOn It’s just not worth it 2b a primary UST dealer w/direct bids Apr 04, 2013
  • Financial ETF Falters Amid Bearish Bets as Bank Earnings Loom http://t.co/axMByUp3Zd Ratio of $SPY to $XLF is rising http://t.co/zz0tdIslzq Apr 04, 2013
  • I miss working in a life ins investment dept. You get to see all of the prospectuses for bizarre credit deals; u *feel* the credit cycle $$ Apr 04, 2013
  • Bitcoin?s largest market crashes after wild price swing http://t.co/SAEdfFOmAN Smile when u say Bitcoin & “crash course” in same sentence $$ Apr 03, 2013
  • Gross Says Buffett, Soros Careers Fueled by Expansion http://t.co/1WaBuu49bu Honest Gross; Taking 2much credit risk briefly looked good $$ Apr 03, 2013
  • Mortgage Gamble Pays Off for Wells http://t.co/S82N3MwglF Doing balance sheet lending w/an option to sell if conditions r good $$ FD: + $WFC Apr 03, 2013
  • Willow Fund as a Cautionary Tale for Investors http://t.co/UUsO9xUE2n Large strategy changes r always red flag; invalidates track record $$ Mar 30, 2013
  • Does Blame Predict Performance? http://t.co/K79d7gJgqS “Blame cultures” can improve investing by identifying &fixing problems w/foresight $$ Mar 30, 2013
  • Carl Icahn Unleashed: Wall Street’s Richest Man Is On The Attack — Just Ask Michael Dell http://t.co/Nck6h50plR Was interviewed 4 this $$ Mar 30, 2013

 

Other

 

  • Is Jeffrey Loria the Worst Owner in Sports? http://t.co/B5qrnvM9c3 & Rent-seeking in professional sports http://t.co/QmhopqxwAw ?cc @munilass Apr 04, 2013
  • Gold Slumps Toward Bear Market as Investors Cut Holdings http://t.co/2dOeIfPl4r Positive self-reinforcing liquidation of ETF units, mebbe Apr 04, 2013
  • A Man in the Mirror http://t.co/85QSn5dSSM Bill Gross says great investors have had a huge tailwind from growth of credit. What comes next? Apr 04, 2013
  • Firefox 20 is giving me fits w/a Javascript bug keeps popping up boxes that say “Error: missing ( after for” Also no posting 2 stocktwits Apr 04, 2013
  • Visa Demand Jumps http://t.co/MlszY9pJ9y Employers Set to Quickly Reach Cap on Skilled Foreign Workers $$ Companies race to get ltd # visas Apr 02, 2013
  • Republican Born Roosevelt Digs Deep for Texas Oil Found With CO2 http://t.co/DJ0DBx6YGV CO2 injection liberates tight oil in West Texas $$ Apr 02, 2013
  • Buffett?s Missed Airlines Bet http://t.co/eEf37K7iOI Remember Buffett invests like baseball w/”no called strikes.” No fat pitch 2 swing @ $$ Apr 01, 2013
  • Suzy Weiss: To (All) the Colleges That Rejected Me http://t.co/5jzMZGzSe9 Satirical article:useless things colleges look 4 in applicants $$ Apr 01, 2013
  • Airline Returns Refute Buffett Aversion 2 US Carriers http://t.co/CD3fFjhcOo Dead cat bounce & that qualifies2undo the history of losses? $$ Apr 01, 2013

 

Overly Large Nonbank Financials

?

  • $NLY $GLD $SPY $VWO ticker list 4 publicly traded Miscellaneous Financial Services companies w/ > $50B in assets $$ http://t.co/OIrnSfE5jY Apr 04, 2013
  • $AMP $BLK $BAM $SCHW $MS $UBS list of tickers 4 publicly traded Investment Services companies w/ > $50B in assets $$ http://t.co/6QiByewpnV Apr 03, 2013
  • $AIG $BRK/A $CB $CNA $HIG $L $TRV list of tickers 4 publicly traded P&C Insurance companies w/ > $50B in assets $$ http://t.co/2jVlnE5oVT Apr 03, 2013
  • $GNW $LNC $MET $PL $PRU $UNM list of tickers 4 publicly traded Life Insurers companies w/ > $50B in assets $$ http://t.co/cSoZnSL3LZ Apr 03, 2013
  • $AFL $CI $PFG $UNH $WLP list of tickers 4 publicly traded Acc & Health Insurance companies w/ > $50B in assets $$ http://t.co/5JFJCzxZOm Apr 03, 2013
  • $DFS $GE $SLM list of tickers 4 publicly traded Consumer Financial Services companies w/ > $50B in assets $$ http://t.co/4KPicolqgc Apr 03, 2013

?

Replies & Retweets

 

  • @probability_wtd Many things concern me, including this. Really difficult 2c the government keeping their hands of pension monies. Apr 06, 2013
  • Buffett isn’t simple RT @researchpuzzler: my latest #wsjexperts comment, on lessons from Buffett http://t.co/vA3sdSIp11 HT @alephblog Apr 05, 2013
  • @LaMonicaBuzz They have both assets & liabilities in the yen; they try 2 keep it even, effect should b small | FD: + $AFL Apr 05, 2013
  • All significant energy use improvements have been more efficient use of oil, gas&coal RT @finemrespice: http://t.co/oBrHYmgszO <- Insanity. Apr 05, 2013
  • I would be fine w/that RT @Nonrelatedsense: @AlephBlog strikes me as better to eliminate dividend taxes for C corps Apr 05, 2013
  • “Just a market for speculators, because nothing physical is traded that producers want to hedge?” ? David_Merkel http://t.co/2IvwG2nAt9 $$ Apr 05, 2013
  • @neilbarofsky Really glad for you. I rarely get to meet any heroes. She was prescient. Apr 04, 2013
  • RT @DavidSchawel: MOAR mREITS: Blackstone backed Ellington Mortgage $EARN files for $100mil IPO. Let no yield hog be left without a 12% … Apr 02, 2013
  • @The_Analyst 15-20 years ago Apr 01, 2013
  • ‘ @The_Analyst Real-time, this is 18-20 years ago, but it illustrates modern problems. It will get closer to the present as I move along $$ Mar 31, 2013
  • RT @DavidSchawel: CS lessons from Cyprus: sr. bank debt no longer safe, uninsured bank deposits have been nailed in, and capital control … Mar 30, 2013

 

FWIW

 

  • My week on twitter: 44 retweets received, 3 new listings, 58 new followers, 45 mentions. Via: http://t.co/cPSEMLXpb8 Apr 04, 2013

 

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Cyprus & The Eurozone

 

  • Betray Your Bank Before Your Bank Betrays You http://t.co/H0nRJk7pLB Deposits over insured limit r a sitting target 2b taken in a crisis $$ Mar 29, 2013
  • Demolishing some myths about the single currency http://t.co/F34IpRQIbF A euro in Nicosia isn’t worth the same as a euro in Berlin $$ #ulose Mar 29, 2013
  • http://t.co/cbKK6ZNfW6 Neatest thing about the Eurozone interactive graphic: crisis comes in fits & spurts; u think it is over,& it’s not $$ Mar 29, 2013
  • Eurozone crisis: three-and-a-half years of pain http://t.co/VI8BUD48I8 Cool graphic that allows u2 explore the Euro-crisis blow-by-blow $$ Mar 29, 2013
  • Lines Form as Cyprus Banks Reopen http://t.co/0XxAiCFrwq How 2 destroy your banking system & bungle rescue, courtesy of the EZ & #Cyprus $$ Mar 28, 2013
  • MANDATORY CREDIT: BLOOMBERG SURVEILLANCE http://t.co/7bORsyhW8b Marc Faber talks2 Tom Keene & Alix Steel on stocks, Europe, Cyprus & gold $$ Mar 28, 2013
  • Italy?s failure to form a government doesn?t bode well for the euro http://t.co/V9nPcWFR60 EZone a political creature w/lousy economics $$ Mar 27, 2013
  • Money fled Cyprus as president fumbled bailout http://t.co/gl1J9z80MV Give the Russians credit (figuratively) 4 squeezing $$ out of Cyprus Mar 27, 2013
  • Euro zone overrates ability to curb contagion: Moody’s http://t.co/LpRdQ5RG2B Taxing insured deposits has opened up a can of worms $$ #dumb Mar 27, 2013
  • As a kid, we had a rule, “You can’t beat up my little brother. Only I get to beat up my little brother.” Cyprus: deposit insurance & levy $$ Mar 27, 2013
  • Cyprus banks remain closed to avert run on deposits http://t.co/JLDXoGD0T8 Won’t help; trust broken. Better 2 take money home, buy gold $$ Mar 26, 2013
  • Cyprus: It?s not over yet http://t.co/2qiIs9aN1b There will be a lot of pushback from Russia & wealthy Cypriots. Taxing Insured deposits? $$ Mar 26, 2013
  • Spain?s Swelling Debt Seen Impeding Rajoy Deficit Battle http://t.co/mapViHkfpk Unsure how Spain can escape. After that comes France $$ #woe Mar 25, 2013
  • Cyprus: crossing the green line http://t.co/whW4YR5a9t If I had $$ in a Greek, Italian, French or Spanish bank, I would withdraw some #theft Mar 25, 2013
  • Cyprus: The Operation Was a Success. Shame the Patient Died. http://t.co/79agrH1Mb5 Misery of Cyprus is a feature, not a bug $$ #norelief Mar 25, 2013
  • Cyprus weighs big bank levy; bailout goes down 2wire http://t.co/rm0fHJIfBo Small depositors lose 4%, big 20%. Policymakers gain new tool $$ Mar 25, 2013

 

Financial Sector

 

  • Why Bad Directors Aren?t Thrown Out http://t.co/ZuzGVZk99A Large Institutional Shareholders go along 2get along. Y irritate powerful ppl? $$ Mar 29, 2013
  • Surging Student-Loan Debt Is Crushing the System http://t.co/ckFHBbDc4R Avoid student debt if u can; most onerous form of debt in US now $$ Mar 29, 2013
  • Wells Fargo Beats Rivals to Oil-Boom Deposits, Study Says http://t.co/Ygt4ENMJqz FD: + $WFC | WFC bot little banks, grew them organically $$ Mar 29, 2013
  • Swiss Re settles dispute w/Berkshire Hathaway http://t.co/ADJ0zdufv9 Hasn’t developed same expertise U/W life policies as P&C $$ FD:+ $BRK/B Mar 29, 2013
  • 5 Financial Advisor Red Flags http://t.co/EKFVgc0poP There r2 many fake “credentials” in investing; the person matters more than letters $$ Mar 28, 2013
  • 5th Anniversary of Credit Crisis: Should u Buy CLOs? http://t.co/2sJzKv6LEi All loan participation funds@ prem2NAV http://t.co/qCRczPY0Mu $$ Mar 28, 2013
  • We?ve Already Built the Next Banking Disaster http://t.co/QjYzT4A9gz At minimum, we need to break up biggest 4 banks $C $JPM $BAC $WFC $$ Mar 28, 2013
  • Citigroup looks to cut cash holdings to boost earnings http://t.co/5FAoe3egno Every bank hates 2 keep slack liquid assets. Lowers ROE $$ $C Mar 27, 2013
  • The Best Way to Save Banking Is to Kill It @Matthew_C_Klein http://t.co/UP6c1DsMox Separating deposit-taking from credit creation $$ #yes Mar 27, 2013
  • A successful failure by @researchpuzzler http://t.co/cOC4Cpu9L1 Amazing what @pimco can do when it has less money to invest $BOND $$ Mar 27, 2013
  • US Cracks Down on ‘Forced’ Insurance http://t.co/MiWI6a5C1X Restrictions on banks profits on force placed insurance won’t harm insurers $$ Mar 27, 2013
  • Warren Buffett and Goldman Sachs: Explaining the Math http://t.co/H6AZImEyTl Buffett receives $GS shares equal 2 his profits on the trade $$ Mar 27, 2013
  • http://t.co/1a1TUDLI6H 44% of Americans think they’re covered 4 weather-related floods. Only 15% have bought a supplemental flood policy. $$ Mar 25, 2013
  • Falcone Follows Michael Jackson Path Taking Fortress Loan http://t.co/697JnVvocq $HRG Falcone tapping every loan source he can $$ #desperate Mar 25, 2013
  • Dealer inventory slump threatens market stability http://t.co/XpsoTJkrl0 Intermediation brings stability 2 mkts if intermediaries solvent $$ Mar 25, 2013
  • Mortgage Securitizers Didn?t Know Housing Was Going Bust http://t.co/rbw2qR2z8H Many drank the same poison Kool-aid they served to others $$ Mar 25, 2013

 

Rest of the World

 

  • US Writes Its Worries About Buying IT Gear From China Into Law http://t.co/OZJt59gZ80 Just imagine the backdoors that could be installed $$ Mar 29, 2013
  • Grooms at $18 Fuel IPO Ambitions for Indian Matchmaker http://t.co/liu9239lyU India needs 2 have dowry go reverse way; husband pays $$ Mar 28, 2013
  • How Asia and Robotland have dramatically changed the US labor market http://t.co/Clo8eqpM3w Biggest thing killing off low-end jobs: tech $$ Mar 28, 2013
  • Mr Yen cautions on Japan’s ‘unsafe’ debt trajectory http://t.co/iX4GAYAfoR Takehiko Nakao warns of consequences from 2 much govt debt $$ Mar 27, 2013
  • John Mauldin:”Might I suggest that a good trade would be to be long German government debt, short French debt? ” $$ neg carry, long disaster Mar 27, 2013
  • North Korea?s Economic Outlook: Cloudy with a Chance of Statistics by @steve_hanke http://t.co/XXWyKDffB9 Communism often cre8s inflation $$ Mar 27, 2013
  • Japanese Investors Start to Cut the Cord http://t.co/9oDHAhiSp8 Mrs Watanabe starts to buy stocks, even foreign & many other investments $$ Mar 27, 2013
  • Chinese housing bubble fears grow http://t.co/sejx6Yaj0P China grew its economy by forced investing, & the central planning is failing $$ Mar 27, 2013
  • Abe?s Inflation Exceeds Merkel?s After 14-Year Lag http://t.co/4s9838al6a All a race to the bottom; sound $$ will produce greater growth. Mar 27, 2013
  • US shale no panacea for Japan’s crippling energy bills http://t.co/siPd1kiheZ Infrastructure doesn’t exist 4 getting lotsa LNG 2 Japan $$ Mar 27, 2013
  • Brazil Soy Boom Bottlenecked as China Left Waiting http://t.co/sUtvoyp8yw Need 2invest transport infrastructure; tax importers/exporters? $$ Mar 26, 2013

 

Companies

 

  • REITs Trigger Fed Warning as Kain Tops $100 Billion http://t.co/4Lq6xm6Ka3 Shadow banking returns amid unconventional Fed policies $$ #panic Mar 28, 2013
  • M&A Stumbles Amid March Deal Drought http://t.co/sJlM7ndlnr “Can u say overvaluation, boys & girls? I thought u could; you’re special.” $$ Mar 28, 2013
  • Here’s Why Marissa Mayer Is About To Spend ~$200 Million On A YouTube Wannabe http://t.co/E5A42QAZac Buy small $ grow organically, smart $$ Mar 27, 2013
  • Is the $DELL Stub the Right Investment for You? http://t.co/ut9Mg65gLa Gun to the head, I would say “no.” 2 much leverage & excess supply $$ Mar 27, 2013
  • Summaries of What’s Wrong w/ $YHOO ‘s Summly Buy http://t.co/npVsxAj7Hj & http://t.co/KudImnOcdL & http://t.co/OhZfXoUwM3 $$ Mar 27, 2013
  • How the Maker of TurboTax Fought Free, Simple Tax Filing http://t.co/CYUea9aT8O Intuit benefits from complexity in the tax code $$ #simplify Mar 27, 2013
  • Fredriksen Bets $2.6B New Ships Will Beat Glut: Freight http://t.co/QtxTQaxJZF A bold bet that may fail 4 lack of sufficient capital $$ $FRO Mar 27, 2013
  • The Scariest Stock Chart in Town @ReformedBroker http://t.co/mg54zsX9s8 Good example of analyzing balance sheet strength of stockholders. $$ Mar 27, 2013
  • Cisco Is Keeping Its Promise Not To Buy Companies In The US http://t.co/GtWyy2bLpx Makes sense given US Tax laws | FD: + $CSCO $$ Mar 27, 2013
  • T-Mobile Becomes First Major Carrier to Drop Subsidies http://t.co/7tJ0FdJYmJ Probably a good strategy; differentiates & unbundles $$ Mar 27, 2013
  • Customers Flee Wal-Mart Empty Shelves for Target, Costco http://t.co/PAvNMUUVEP I see it also http://t.co/83s4J9aGA2 $$ Mar 26, 2013
  • Dell Says Blackstone, Icahn Offers May Be Superior http://t.co/jgHkKo6Jna Not sure I would want 2 win $DELL game; fixing ops very hard $$ Mar 25, 2013
  • Blackstone?s $DELL Bid Sets Stage for Rare Buyout Bidding War http://t.co/8KAGIEETOw Michael Dell may lose control of company he built $$ Mar 25, 2013
  • Heinz Sells $3.1B of New Bonds http://t.co/kMUfvlkyys Deal upsized, rated B1/BB-/BB-, lowest financing cost ever 4a LBO@ 4.25% 7.5yrs $$ #no Mar 25, 2013

 

US Monetary & Fiscal Policy

 

  • How the Fed Can Create a Market-Friendly Exit Strategy: Jeremy Siegel?s Proposal
    http://t.co/2VPzaCDnyg Listen 2 bank shareholders scream $$ Mar 29, 2013
  • Pentagon to Cut $41B After Getting More Funding http://t.co/SrcDNN4Fbn We could a lot of dead wood @ the Pentagon, expensive non-soldiers $$ Mar 29, 2013
  • Big Business Spars Over Rewriting Tax Code http://t.co/CRjZZzwLix Importer, Exporter, Services, REIT, MLP, PE: no common corptax position $$ Mar 29, 2013
  • The Exhausted US Consumer http://t.co/QgSkYM2onj Spent-up, not pent-up $$ Looks at Disposable Personal Income, which recently dropped Mar 28, 2013
  • Restaurant Chains Cut Estimates for Health-Law Costs http://t.co/Ed00DMDXAX Test Q: List all the ways that the PPACA fails $$ #needmorepaper Mar 28, 2013
  • Best Predictor of Financial Crisis: Huge Inflows of Foreign Money http://t.co/uOrBJ4OI96 Long assets financed w/short liabilities is why $$ Mar 28, 2013
  • Stockton Deficits May Total $100 Million, Forecast Shows http://t.co/Pu8oqu3zQA That’s the cash pmt curve of generous employee benefits $$ Mar 27, 2013
  • Stockton Bankruptcy Decision to Come Monday, Judge Says http://t.co/dulFxXxNwm $BEN $AGO & $MBI argue city didn’t negotiate in good faith $$ Mar 27, 2013
  • US Retail Sales: Very Soft Indeed! http://t.co/XSJSyChEHW Unusual in that seasonal adjustments typically go away on YOY figures $$ Mar 27, 2013
  • Brenner and Fridson: Bernanke’s World War II Monetary Regime http://t.co/RnHpvMlPL3 Sad but true. Bernanke robs savers to fund US Govt $$ Mar 26, 2013
  • States Build Cash Reserves, Raising Rainy-Day Debate http://t.co/uSiYVMjPGi State budgets should balance on an accrual basis. None do $$ Mar 25, 2013

 

Wrong

 

  • Wrong: Gold Declines in Worst Run Since 2001 as Economic Concerns Ease http://t.co/uB8EhvfpPk Gold is falling because of debt deflation $$ Mar 28, 2013
  • Wrong: Proving Greenspan Wrong Shows Why Rey Became Worthy to Bernanke http://t.co/PHHmWJpRgJ Proving Greenspan wrong is trivial $$ #tiny Mar 28, 2013
  • Wrong:Key US senator blames speculators for high ethanol RIN price http://t.co/PNvhTvVmXt Note Senator is from Iowa, which benefits most $$ Mar 27, 2013
  • Wrong: Why the Rich Don’t Give to Charity http://t.co/aHdPMnjTt1 The missing variable here is Christian faith; media is blind to that $$ Mar 27, 2013

 

Market Dynamics

 

  • Everybody is Furiously Looking for Bubbles http://t.co/gx4GTwxnTV Bubbles are financing phenomena; look 4 short finance of long assets $$ Mar 29, 2013
  • Morningstar: Stocks Are Close to Fair Value http://t.co/TLDpVrjF1M “US stock market is some 50 percent above its historic mean value” $$ Mar 28, 2013
  • Crises exist 2 eliminate things that don’t need 2b done; governments interfere w/ this process b/c they r in league w/those who skim society $$ Mar 28, 2013
  • When will the Bond Bubble Finally Burst? http://t.co/WomjY44B9I Fund flows, Fed, other CBs, Banks, & measured inflation supportive 4 now $$ Mar 27, 2013
  • Investors face a shrinking stock supply http://t.co/bC1ECjt2Xg Maybe we can get rid of Sarbanes Oxley b4 it kills the equity mkt entirely $$ Mar 27, 2013
  • Investing in a High Debt Environment http://t.co/3PxNmNg1Oz Concentrate on inflation, study interest rates & focus on business fundamentals Mar 27, 2013
  • Low Volume = Good Investment? Analysis of David’s “Neglected Stocks R Typically in Strong Hands” Thesis http://t.co/wbseitIGZF Good Stuff $$ Mar 27, 2013
  • Use free cash 4 buybacks when price < 90% of franchise value [FV], issue dividends above that. FV is where u rather issue stock than debt $$ Mar 26, 2013
  • Not Everyone Loves Dividends: Guy?s Argument is Worth Hearing http://t.co/BsMDyzazLZ Buybacks vs Divs: depends on undervaluation of stock $$ Mar 26, 2013
  • Warren Buffett and John Hussman On The Stock Market http://t.co/ynAhtJrDAY The Market Cap/GDP ratio indicates significant overvaluation $$ Mar 26, 2013
  • Investors Pile Into Housing as Landlords http://t.co/rteDMNUl0e Anytime investors become a large part of residential RE-> trouble $$ #bubble Mar 25, 2013
  • Buttonwood: Credit watch http://t.co/53WR3r3BW0 New book argues that investors should focus on the credit cycle, not economic growth $$ #duh Mar 25, 2013
  • How to Unlock That Stashed Foreign Cash http://t.co/qNOnrjyrVD If there are attractive foreign companies 2 buy, would b best use of $$ Mar 25, 2013

 

Other

 

  • Corn Supply Slumps Most Since ?75 on Ethanol Profit http://t.co/ScQ3slOlQ6 Corn supplies may tighten by summer, tough if another bad crop $$ Mar 29, 2013
  • Business Insider Just Told College Students Their Secrets of Success http://t.co/Yd1jLTzEl3 Sprinter & marathoner, act dumb, ask Qs, etc. $$ Mar 28, 2013
  • Leaked Photos of Johansson Expose Cloud’s Vulnerabilities to Social Engineering http://t.co/keayvi3iDL Take security seriously $$ Mar 28, 2013
  • Methadone Deaths Tied to For-Profit Clinics Prompt Bills http://t.co/GHEnOWPGpr They get paid per visit; few incentives 2 act ethically $$ Mar 28, 2013
  • 6 Reasons You Should Have Cyber Liability Insurance http://t.co/LhbASLS9pD U can make your computer invisible 2 the internet in 15 mins $$ Mar 28, 2013
  • Arms Race to Grow World’s Hottest Pepper Goes Nuclear http://t.co/sYW6fX5bZH I don’t get this; I eat spicy food for taste, not 2b macho $$ Mar 27, 2013
  • The New US Industrial Renaissance http://t.co/18ni9ClWEF A bit overstated but cheap energy & rising wages in China aid US competitiveness $$ Mar 27, 2013
  • Falling US Gasoline Demand: A Weaker US Economy? http://t.co/3QRS8G59a2 Gasoline is fairly core 2 consumption, when it goes down, trouble $$ Mar 27, 2013
  • Case-Shiller: Home Prices Post Biggest Rise Since 2006 http://t.co/nzgY1dSoZs But after the huge drop, it’s really just a dead cat bounce $$ Mar 27, 2013
  • Wringing Out Laundered Cash http://t.co/Ary4tMyjCF Always easier 2 press a civil suit than a criminal suit; look at the bankers 4 proof $$ Mar 27, 2013
  • 3D-Printed Polymer Skull Implant Used For First Time in US http://t.co/4rRlfPiVGP Offers high degree of customization 4 surgical repairs $$ Mar 26, 2013

 

Retweets & Replies

 

  • The local situation in the US can’t run too far ahead of the world. Too interconnected $$ RT @boes_ America http://t.co/8PaIt3uKR5 Mar 29, 2013
  • ‘ @JaredKastriner As for me, I play banker for my children. I pay 4 tuition & unavoidable costs. They pay avoidable costs& I lend 2 them $$ Mar 29, 2013
  • @JaredKastriner No, but it should make us consider whether college is needed, and maybe borrowing against the house might b better $$ Mar 29, 2013
  • ‘ @AndreCimini There r many incentives 4 politicians, regulators & businessmen 2 prolong a boom; I worked 4 a firm that foresaw it & made $$ Mar 25, 2013
  • I hold a CFA Charter, (and was an FSA — dues too expensive) but credentialing is overrated in almost all… http://t.co/kvogKAycVS Mar 28, 2013
  • Commented on StockTwits: Banks got bailed out after so many bad mortgage & other loans. A few hedge funds properl… http://t.co/4wMpKOQ8Nb Mar 28, 2013
  • @EddyElfenbein As a Christian, it embarrasses me. They misinterpret Revelation & it makes people think they can gauge when Christ will come Mar 28, 2013
  • ‘ @kyles09 My point is this: in 2007, the last time I saw something like this, it was right before loan pricing fell apart. That’s all. $$ Mar 28, 2013
  • ‘ @Nonrelatedsense I’m wrong, cancel that comment on the $PSX midstream assets. Thanks 4 the correction $$ Mar 28, 2013
  • Bitcoin $$ RT @groditi: OK, spill it, who’s gonna be the Big Short for BitCoin?. that parabola looks like it’s about to break any second now Mar 27, 2013
  • RT @SoberLook: Chart: Bitcoin’s unprecedented rally. Another way for Cyprus citizens to take funds out of the country – http://t.co/3cTt … Mar 27, 2013
  • I like it, thanks $$ RT @adamjbonesjones: @AlephBlog Short Frenchies vs EFSF bonds (over-collateralised, positive carry)…. Mar 27, 2013
  • Monster, yes. Greatest? No $$ RT @MattZeitlin: Whoever decided that tables and figures go at the end of papers is history’s greatest monster Mar 27, 2013
  • @Matthew_C_Klein Sometimes they hand out the Nobel Peace Prize 4 what they wish the world could b, hence Obama (drones), EZ (fantasyland) $$ Mar 27, 2013
  • RT @Matthew_C_Klein: For this they won the Nobel Peace Prize MT @SonyKapoor: EZ has made every country feel that they’ve been hard done by Mar 27, 2013
  • Patient is dying. More morphine. $$ RT @TheStalwart: RT @CNBC: Fed’s Kocherlakota: “Monetary policy is currently not accommodative enough.” Mar 27, 2013
  • Controlling system changes it RT @MatthewPhillips @CardiffGarcia:Fantastic NYFed paper financial risk monitoring http://t.co/vwJeUwzXDm $$ Mar 27, 2013
  • Extra points 4 USSR & Japan parallels RT @prchovanec: Apply these last three quotes (from “This Time is Different”) to China … discuss. Mar 26, 2013
  • [cute dog warning] I guess you did have to. RT @moorehn: Sorry. I had to. http://t.co/rJtgXqfQtx Mar 26, 2013
  • ‘ @kyles09 Good point, the rule mostly deals with excess cash over and above a low regular dividend $$ Mar 26, 2013
  • @ToddSullivan I could live with the word “moderate” 🙂 Mar 26, 2013
  • “Thing about low vol investing is that it is a moderate risk strategy, b/c it invests in stocks?” ? David_Merkel http://t.co/NzG183hkzG $$ Mar 25, 2013

 

FWIW

 

  • My week on twitter: 57 retweets received, 2 new listings, 60 new followers, 57 mentions. Via: http://t.co/cPSEMLXpb8 Mar 28, 2013

 

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Pettis / China

 

  • Modified Pettis: Peripheral country depositors will remember Cyprus & it will affect their future credibility w/deposit guarantees $$ Mar 22, 2013
  • Pettis: the idea that urbanization creates growth may have the causality backwards. It is far more likely that growth causes urbanization $$ Mar 22, 2013
  • Parsing the Words of the New Premier http://t.co/KggvVUZ0bf Li Keqiang: We need to leave to the market and society what they can do well $$ Mar 22, 2013
  • Closer Look: Parsing the Words of the New Premier – http://t.co/8LIiTxxqi0 Previous quote taken from Pettis, led me to this article $$ Mar 22, 2013
  • Li Keqiang: The reform is about curbing government power. As a self-imposed revolution, it will require real sacrifice and will be painful $$ Mar 22, 2013
  • Pettis: It turns out that we?ve seen record growth in debt. Is it really a surprise then that [China’s] economy is still growing quickly? Mar 22, 2013
  • Pettis:It isn?t until you write down the debt associated with the second bridge that you end up with a more meaningful measure of GDP. (3/3) Mar 22, 2013
  • official measures will have them contributing the same amount to GDP, even though the former creates real value & the latter does not (2/2) Mar 22, 2013
  • Pettis: If you spend $100 million each on two separate bridges, one of which is actively used and the other rarely used, (1/2) Mar 22, 2013
  • Biggest Solar Collapse in China Imperils $1.28 Billion http://t.co/yYgYpSpjAv Even w/subsidies solar is an inefficient technology $$ #duh Mar 21, 2013

 

FOMC

 

  • FED Optimistic Forecasts… http://t.co/MjilXrTSX1 The FOMC is always overoptimistic; they consider that 2b a part of their jobs $$ Mar 22, 2013
  • Wrong:US economy needs a third term of Ben Bernanke http://t.co/fStUDLjy7g A lunatic praises a dangerous lunatic leading US 2 Stagflation $$ Mar 22, 2013
  • That’s all folks! #FOMC $$ Mar 20, 2013
  • FOMC Central Tendency for Year end Fed Funds forecast: 2013 0.29%, 2014 0.55%, 2015 1.30%, Long run 4.01% $$ #FOMC Who can tell? Mar 20, 2013
  • FOMC Central Tendency 4 PCE inflation fcst since December 2012: 2013 1.55%, 2014 1.75%, 2015 1.93%, Long run 2.00% $$ #FOMC Way 2 optimistic Mar 20, 2013
  • FOMC Central Tendency Unemployment rt fcst since December 2012: 2013 7.35%, 2014 6.77%, 2015 6.20%, Long run 5.57% $$ #FOMC Way 2 optimistic Mar 20, 2013
  • FOMC Central Tendency for real GDP since December 2012: 2013 2.53%, 2014 3.17%, 2015 3.25%, Long run 2.43% $$ #FOMC Too optimistic 2014-5 Mar 20, 2013
  • FOMC Central Tendency Change in Fed Funds fcst since December 2012: 2013 -0.11%, 2014 -0.05%, 2015 -0.11%, Long run -.03% $$ #FOMC Mar 20, 2013
  • FOMC Change in Appropriate Timing of Policy Firming fcst since December 2012: 2.49 yrs, which shortens by 3.4 months $$ #FOMC Mar 20, 2013
  • FOMC Central Tendency Change in PCE inflation fcst since December 2012: 2013 -0.20%, 2014 -0.03%, 2015 -0.01%, Long run no change $$ #FOMC Mar 20, 2013
  • FOMC Central Tendency Change in Unemployment rate fcst since December 2012: 2013 -0.13%, 2014 -0.15%, 2015 -0.08%, Long run -0.03% $$ #FOMC Mar 20, 2013
  • FOMC Central Tendency Change in real GDP since December 2012: 2013 -0.10%, 2014 -0.32%, 2015 -0.13%, Long run -0.03% $$ #FOMC Mar 20, 2013
  • I am shocked that the Fed doesn’t have estimates on deposit insurance subsidies. That’s either a lie, or they should have that estimate $$ Mar 20, 2013
  • @pdacosta Good questions on Cyprus & deposit insurance subsidies $$ Mar 20, 2013
  • Go Pedro! Mar 20, 2013
  • Federal Reserve, Expected to Continue Stimulus, Tries to Reassure Investors http://t.co/DuoAg3hYTv Doing the same, expecting different $$ Mar 20, 2013
  • Bernanke Tightens Hold on Fed Message Against Hawks http://t.co/JyGTM0gP1f Wondered when this would happen; naive academic focuses power $$ Mar 20, 2013
  • Insights from Former Fed Chairmen http://t.co/q3RbM7sm9e Greenspan, meh. Volcker says some interesting things regarding removing stimulus $$ Mar 18, 2013
  • Fed’s Fisher: Too-big-to-fail banks are crony capitalists http://t.co/t65lN4kaaU Break them up & eliminate their funding advantages $$ Mar 16, 2013

?

Companies & Industries

 

  • Proto Labs seeks 1st acquisition shuns 3D printing http://t.co/56KeW8j4In Instead of creating by layers, start w/a block & cut away $$ $PRLB Mar 22, 2013
  • Old Tech Stocks, New Value: Santoli http://t.co/jfDtkOAwwX Tough part: estimating moat & probability of obsolescence, margin of safety $$ Mar 22, 2013
  • Health Insurers Warn on Premiums http://t.co/zzZI2s1s2h Wrote about this b4 law was passed. Was accused of bias $$ http://t.co/WCECEQYuns Mar 22, 2013
  • Plywood Becomes Hot Item in Housing Recovery http://t.co/2LMfLI43L1 4 confirmation, look here: http://t.co/HbnVnGdJmO Plywood on fire $$ Mar 22, 2013
  • As Crop Prices Surge, Investment Firms and Farmers Vie for Land http://t.co/B1ESXEnefd Presence of a large amount of borrowed $$ = bubble Mar 22, 2013
  • Intuitive Robosurgery Training Seen Lacking in Lawsuits http://t.co/VgyqOZqLMD Accidents r common & significant training of MDs needed $$ Mar 21, 2013
  • Gold Giants Shrink to Fit as Paulson Pushes Breakup http://t.co/9yXUb9Z11s Miners tend 2 overpay for marginal mines w/high variable costs $$ Mar 21, 2013
  • Americans Cut Restaurant Spending as Taxes Bite http://t.co/VAZELXMwM2 Less $$ available for small luxuries like eating out. Mar 20, 2013
  • Electronic Arts Ousts CEO as New Game Consoles Await http://t.co/QMDjN8uZmN Game systems shift away from use of PCs; $EA doesn’t adjust $$ Mar 19, 2013
  • Revealed: The Fragility of US Wireless Customer Loyalty http://t.co/j8U5wZ9GvT May be few choices, but wireless customers r not sticky $$ Mar 18, 2013
  • Corporate Cash Piles Grow to Record $1.45 Trillion, Moody?s Says http://t.co/0M84CE0tRi How much is domestic & not held 4 margin $$ Mar 18, 2013
  • Intermediate hold co debt has none of the protections of sr unsec parent co debt, or operating subsidiary debt. Not worth risks, avoid $$ Mar 18, 2013
  • $HRG Announces Debt Offering by F&G Life Hldgs http://t.co/APQvmAECv3 Total desperation w/intermediate holdco debt; Avoid, avoid, avoid $$ Mar 18, 2013
  • Private Equity?s $36B Retail Bet Not Going So Well http://t.co/xdQ9NzdAPs Retail does not work well w/leverage aside from mortgage debt $$ Mar 16, 2013

 

Cyprus

 

  • It?s Up to Putin Now: Cyprus Looks to Russia For Love?and Money http://t.co/CJdlAmyM5A Many Russians would lose $$ in Cypriot Bank default Mar 22, 2013
  • Just Let the Troubled Banks in Cyprus Fail http://t.co/0lSyyTjWIJ @carney gets it right. Protect small deposits, wipe out equity, etc. $$ Mar 22, 2013
  • ECB May Cut Emergency Funding to Cypriot Banks after Refusal http://t.co/jssqb7og4u If Cyprus’ banks fail, will anything else fail? $$ Mar 21, 2013
  • Cyprus banks dwarf economy thanks 2funds from wealthy foreigners http://t.co/GbElR3bcTP Countries w/large financial sectors tend 2b risky $$ Mar 20, 2013
  • BlackRock CEO Fink Says Cyprus Instability Will Be Resolved http://t.co/E3RYIDQENi The politics r pretty toxic; time 2end euro experiment $$ Mar 20, 2013
  • Outcry over Cyprus bailout taxing bank accounts http://t.co/kQ7DJgUN7P If it can happen in Cyprus, it can happen where you are too $$ #boo Mar 20, 2013
  • Daylight robbery in Cyprus will come to haunt EMU http://t.co/HsrbbJUVKk Imagine the US grabbing a portion of bank deposits in 1933 $$ #yuck Mar 20, 2013
  • Deauville Zombie Strikes as Cyprus Tax Inflames Crisis http://t.co/pkStGZyh5M Hard 2 believe confiscation of deposits wouldn’t lead 2runs $$ Mar 19, 2013
  • The Cyprus precedent @FelixSalmon http://t.co/EXBLMXj3by Taxing via confiscation doesn’t affect incentives, except the incentive 2 hide $$ Mar 18, 2013
  • Cyprus: What Were They Thinking? and some other notes http://t.co/LJPQ7FRSaT Try 2tax depositors, esp Russians, trigger a bank run, great $$ Mar 18, 2013
  • Cypriot authorities in revised deal talks http://t.co/f7NXFf5B9S This is getting desperate. Remember when they said subprime was small? $$ Mar 18, 2013
  • Dejected official: ?If this is successful then it will be used in the future… If this is not successful then who cares about Cyprus.? $$ Mar 18, 2013
  • Depositors Pay Price in Cyprus Bailout Deal http://t.co/CssNI6QUXK Imagine waking up one morning & 10% of your bank deposits r gone $$ #augh Mar 16, 2013

 

Energy

 

  • Sierra Club blasts new plan to improve fracking http://t.co/izJx8axguf Really depends on how much CO2 truly affects climate, jury is out $$ Mar 22, 2013
  • Ethanol Slumps Against Gasoline on Speculation Imports to Climb http://t.co/nFGWml3HBZ Profitable to import Brazilian ethanol caps prices $$ Mar 22, 2013
  • HEARD ON THE STREET: Chevron, Shell and Big Oil’s Big Divide http://t.co/zcrclj78XS FD: + $CVX | Smart move was focusing on crude oil $$ Mar 20, 2013
  • Wow, North Dakota, That?s a Lot of Oil http://t.co/NzKU4rhswH Up ~1000% in 10 years, would b more w/better transport (pipelines) $$ Mar 20, 2013
  • Consumers to Pay $13B Price as Ethanol Upends Refiners http://t.co/qRr3ZnGPnB Ethanol an expensive fuel; we would not use it w/o govt req $$ Mar 19, 2013
  • Valero Cancels Sale of California Refineries http://t.co/tu1lXOLBe4 Now better 2 retain them, if cheap oil can b sent there via rail $$ $VLO Mar 19, 2013
  • Suntech Said to Get Default Notice on $541M Unpaid Bonds http://t.co/hiA8ZfvW2K Equity likely 2b wiped out, even w/some willing 2 4bear $$ Mar 17, 2013
  • Canada Wonders Why Crude Oil Is Coming From Texas http://t.co/aIKRNA7UoT This is the price of not permitting pipelines; US oil by tankers $$ Mar 16, 2013
  • Three Years After the Spill, BP Gets Bullish http://t.co/owgnHfH9w5 FD: + $BP | Lots of valuable assets, but has the culture changed? $$ Mar 16, 2013

 

Financial Sector Issues

 

  • JP Morgan to Issue Its First Mortgage Bond Since 2007 http://t.co/M38KF7463e Reps & warranties weakened; harder 2 put back 2 originators $$ Mar 21, 2013
  • ?In money management what sells is the illusion of certainty.? http://t.co/iiqXAHTRZ8 @researchpuzzler comments on words of @John_Hempton $$ Mar 22, 2013
  • SumZero Honors: 14 Top Buyside Analysts http://t.co/cZRnfBQJVd @sumzero does a study of buyside analysts to find the best quietly working $$ Mar 22, 2013
  • Proxy sites dump 1-click vote button on SEC concerns http://t.co/nycHC62TUa Levels the playing field a little bit; mgmt has 2 much power $$ Mar 21, 2013
  • Masked by Gibberish, the Risks Run Amok http://t.co/bKvbpCRyvZ Floyd Norris can write me 4 clarity, or read this: http://t.co/bhJwuegzP5 $$ Mar 22, 2013
  • Buffett Says Bet on Natural Juices of Market http://t.co/gyGA34vVMP USA is the most flexible place in the world, but stocks aren’t cheap $$ Mar 21, 2013
  • DeMarco pushes for 5-year wind down of GSEs http://t.co/aApiRMzoIK Don’t c how politics work here; pols don’t like 2 give up piggy bank $$ Mar 20, 2013
  • Could gold be the next Libor scandal? | Business http://t.co/gstTm7EWQA Looks like real trades take place, so it doesn’t seem the same $$ Mar 20, 2013
  • Workers Saving Too Little to Retire http://t.co/tWMYk3cpg8 I know of few people who save 20% of their incomes over 40 years $$ #prettytough Mar 19, 2013
  • Stock Bulls Get New Member of Club http://t.co/qEOMyG47WM I dunno, this makes me nervous. But 3% more upside in 2013 is no raving bull $$ Mar 19, 2013
  • Quantitative easing does little to boost gold prices http://t.co/o42EZUMk3T Gold prices react to inflation adjusted cost of carry $$ Mar 18, 2013
  • Traders Short Junk-Bond ETFs as Gains Top 100%: Credit Markets http://t.co/4CmFy3ebaC Short interest = 11.5% of total outstanding shares $$ Mar 18, 2013
  • Wrong: Want to Fix the Deficit? Get Real http://t.co/3fuRoKKw6S Increasing the deficit from here would worsen our long-term problems $$ Mar 16, 2013
  • Boo! Derivatives, Japan, $$ demise, pension defaults, debt jubilee RT @StockTwits: Zombie Swans from Outer Space http://t.co/jcNoTTzolI #boo Mar 16, 2013
  • How to Safeguard Your 401(k) http://t.co/HRCNqz1RkJ If plan has annual match, do not count on it. Avoid employer stock; know plan rules $$ Mar 16, 2013
  • Company Insiders Are Dumping Shares! Or Are They? http://t.co/D5cgLmM902 Best to look at what insiders do, not the large outside holders $$ Mar 16, 2013
  • If third-party custody fails in any significant way, i.e. bigger than what happened w/MF Global, all public investing will b ruined $$ Mar 16, 2013
  • Are Your Assets Safe?No Matter What? http://t.co/vWvSVno7JC @jasonzweigwsj talks about custody; strong incentive 4 present system 2 work $$ Mar 16, 2013
  • Golden State Hits Golden Age Of Bank M&A http://t.co/WLFhPq8jFC Higher capital requirements create demand for banks 2 merge in California $$ Mar 16, 2013

 

Rest of the World

 

  • Is Emerging Market Debt Undervalued? http://t.co/8hSOukeOKf I tend 2 think so, but performance so far this year has been subpar $$ Mar 22, 2013
  • Bank of Japan vows ‘all means available’ to smash deflation http://t.co/AJ27okuZFZ Difficult 2 have inflation w/shrinking population $$ Mar 22, 2013
  • BRICs: a Slowing Dilemma http://t.co/furMgL5VTO The BRICs r not a natural group; very different econ, but as GWP growth slows, so do they $$ Mar 21, 2013
  • RAHN: Where will the next financial crisis begin? http://t.co/x2rBMqCJUG Numerous countries r poised 2 lead global tailspin; I pick EZone $$ Mar 21, 2013
  • Spanish Banks Cut Developers as Zombies Dying http://t.co/CxRucV5Y7h Bottom not yet found for Spanish Real Estate $$ #bringoutyerdead #thud Mar 21, 2013
  • Europe?s work is far from over http://t.co/JfIY5PRW4f This is a colossal example of government management of the economy gone awry $$ #endit Mar 20, 2013
  • Canadian Household – Drowning in Debt http://t.co/XsdSDPBUn8 Canada: poster child 4 Central Bank-induced bubbles, amid good fiscal policy $$ Mar 20, 2013
  • BRICs Abandoned by Locals as Fund Outflows Reach 1996 High http://t.co/Xv4QZrNmSX Locals r throwing in the towel on stocks; time 2 buy? $$ Mar 16, 2013
  • Argentina Debates Pope’s Political Past http://t.co/FY25FtCCF2 Probably one where the truth will never b known; hard to fight a dictator $$ Mar 16, 2013

 

US Politics & Policy

 

  • Stockton Creditors Face Long Odds to End City Bankruptcy http://t.co/WcEuHjJft1 Think Stockton’s gambit will lose $$ cc: @munilass Mar 22, 2013
  • Gingrich-Santorum ?Unity Ticket? Almost Toppled Romney http://t.co/8jBjvs868Q G+S-> 0+0 = -1. Romney= -2. All R candidates fatally flawed $$ Mar 22, 2013
  • Getting the CIA Out of the Drone War http://t.co/kWcxz4mooN It matters less who does it, because there is no moral basis for it $$ #enditnow Mar 22, 2013
  • Mary Pat Christie Juggles Roles as Political Facilitator http://t.co/04VJb6UcbD Interesting background piece on Chris Christie’s wife $$ Mar 22, 2013
  • Postal Service Can?t Cut Saturday Delivery, GAO Says http://t.co/3BbcJ1arge Loss of Saturday would b start of end 4 USPS> less relevant $$ Mar 21, 2013
  • Rotten Tomatoes for a Billion-Dollar Farm Payout http://t.co/8FMfZnvqZC Ag is doing well in the US. Time to shut down much of the Ag Dept $$ Mar 21, 2013
  • California Nonpartisan Districting Ousts Life Incumbents http://t.co/1edUiXyizM Minimize internal boundaries subject 2 law requirements $$ Mar 20, 2013
  • Army Carbine Program May Waste $1.8 Billion, Report Finds http://t.co/WQOhHRZ5Mw Another area of DoD waste. Insiders tell me -> lots more $$ Mar 20, 2013
  • The Smarter Healthcare Consumer Myth http://t.co/BSdzrzQmMu Many underinsured people do not go to see a doctor when they are sick $$ Mar 19, 2013
  • Puerto Rico slides toward insolvency http://t.co/WaOVo1dWUa Puerto Rico exists to make California look responsible & Illinois honest $$ Mar 18, 2013
  • Or, as the late Bob Casey (former Governor of PA) once said, “You can’t lose if you are a pro-life Democrat.” $$ Mar 18, 2013
  • RNC Issues Scathing Analysis of GOP http://t.co/CsROwzkNxT Sounds dumb. Does not grasp the reliance of the GOP on moral issues voters $$ Mar 18, 2013
  • It’s a Lonely Quest for Land-Tax Fans, But, by George, They Press On http://t.co/yt8tPEVgjV Candidate 4 dustbin of history, dying hard $$ Mar 18, 2013
  • Republicans Foil What Majority Wants by Gerrymandering http://t.co/h2gMnsO5cp I live in MD, w/Democrat Gerrymander http://t.co/9ORTUnVjo9 $$ Mar 18, 2013
  • Roadkill May Reach Montana Menus Under Bill Allowing Fare http://t.co/5UsoOXeAsr Interesting 2c differences in state policies 4 roadkill $$ Mar 17, 2013
  • Obama Will Use Nixon-Era Law to Fight Climate Change http://t.co/HxRrpdoajr Expands National Environmental Policy Act to Climate Change $$ Mar 16, 2013

Other

 

  • The Beatles vs. the Taxman: A Former Manager Recalls Yesterday http://t.co/wNikAvMAdh Union of music,culture &finance cc: @reformedbroker $$ Mar 22, 2013
  • The Odd, Enduring Power of D?rer’s ‘Praying Hands’ http://t.co/QzEQsRYalP An idol 2b destroyed; far better 2 pray, regardless of hands $$ Mar 22, 2013
  • ‘The Croods’: Making the Cartoons Sing http://t.co/Pj50Vytvuo As a musician, I find this article makes me optimistic on popular music $$ Mar 22, 2013
  • ‘BioShock Infinite’: A Videmeogame With a Political Philosophy http://t.co/NzxQqrTXkM Americans r exceptional; doesn’t mean they r good $$ Mar 22, 2013
  • The Branding of ‘Liger’: Tiger Woods and Lindsey Vonn http://t.co/AW1CGnYHLh Two attractive sports stars dating? A marketing opportunity! $$ Mar 21, 2013
  • Inside the Art of Handling Negative Online Reviews http://t.co/vzsenUcvjq When negative reviews come, act quickly, it could wipe you out $$ Mar 21, 2013
  • Silicon Valley looks to Amy Andersen for love, at $50K a pop http://t.co/yVj37tUL9C Awkward men seeking wives need tailored personal help $$ Mar 20, 2013
  • How To Quarantine Java Like The Disease That It’s Become http://t.co/uhUcbRhFqh Sadly, I have to keep Java 4 my trading platform $$ #poison Mar 19, 2013
  • Study: Delaying marriage hurts middle-class Americans most http://t.co/ynHKcN4m4x Putting off marriage often means marriages don’t happen $$ Mar 18, 2013
  • Helmets Preventing Concussion Seen Quashed by NFL-Riddell http://t.co/FF4Gh6Viyn Long story on how conflicts of interest led2 concussions $$ Mar 18, 2013
  • With Speech, Cardinal Set Path 2 Papacy http://t.co/rDDOXEwCA2 Argued RC Church was 2 introspective, better 2b out doing good, short talk $$ Mar 17, 2013
  • The New Unmarried Moms http://t.co/1hnxyrE67R Teen pregnancy reduced, childbearing outside wedlock rising among 20-somethings $$ #bad4kids Mar 16, 2013
  • New York Is Sterilizing Its Rats. Here’s How http://t.co/qryyCDiLoK Tasty stuff for rats that renders them infertile in 4 days $$ #whoknew Mar 16, 2013

 

Replies & Retweets

 

  • Could work $$ RT @steve_hanke: @AlephBlog @carney or try a swap. Here’s how we did it in Latin America: http://t.co/fvT6V6dX9u| #Cyprus Mar 22, 2013
  • @SconsetCapital In China, if the gov’t builds two bridges in a BOGO deal, I don’t think you’d want the free one 😉 Mar 22, 2013
  • @Donald_Shekels No, not with the Asian operations Mar 22, 2013
  • @Donald_Shekels I could have said worse than I did, but I worry about getting sued. Mar 22, 2013
  • @JPDesloges You are off to a good start at Financial Iceberg. Keep it up. Mar 21, 2013
  • @agnestcrane Global Inequality is dropping, though. Global wages converging. “Rethinking Comparable Worth” http://t.co/qBWe9kxnim $$ Mar 21, 2013
  • Get well soon! RT @StockTwits: StockTwits Is presently down. Apologies for the inconvenience. We should be back up shortly. $$ Mar 21, 2013
  • @exMBB No. But title insurers had a rough time after housing bubble. Fraud drives most title insurance claims. Title insurance is complex Mar 20, 2013
  • @exMBB It’s all heavily depreciated. Not an issue. Mar 20, 2013
  • Commented on StockTwits: You’ve got it, Charles. Where IB is good it is very, very good, & where it is bad it is … http://t.co/o4fpUt2j66 Mar 20, 2013
  • @sleepyhungry It’s like a barrier option. Once it is breached it is over — this is only the 7th time I have done this. U made me smile Mar 20, 2013
  • Doing what their targets do RT @rcwhalen: Foreclosure Processor Prommis Holdings Files Chapter 11 http://t.co/mE30yP1gtj $$ Mar 19, 2013
  • But I think he is running out of options $$ $HRG RT @Nonrelatedsense: @AlephBlog continually amazed by Falcone. How does he do it? Mar 18, 2013
  • Extracts purchase price, retains control, kills bond buyers RT @Nonrelatedsense: continually amazed by Falcone. How does he do it? $$ Mar 18, 2013
  • I liked the photo RT @fundmyfund: @ritholtz what are you looking at in the new blog photo – a bird, a plane, or superman? Mar 18, 2013
  • RT @Royal_Arse: Mr. Merkel @AlephBlog is far more diplomatic than I in his tweet regarding pipeline construction. https://t.co/HIE2ngC4A3 Mar 16, 2013
  • @pdacosta 2 create a synthetic, u need 2 speculators: yield hog who wants a security @ a high yield, & a speculator who wants 2 short it Mar 16, 2013
  • @pdacosta If that ever had to happen, would b a crisis b/c synthetics r more numerous than organic. They can b & were created @ will. Mar 16, 2013

 

FWIW

?

  • My week on twitter: 54 retweets received, 2 new listings, 31 new followers, 58 mentions. Via: http://t.co/cPSEMLXpb8 Mar 21, 2013
  • Here’s my NCAA Bracket: http://t.co/ZK22T2bKnV #BlindfoldBracket2013 I’m no great fan of College Basketball, but I gave it a try $$ Mar 20, 2013
  • David Merkel (AlephBlog) on Twitter http://t.co/PsixuvsqiX Here’s a shout-out to my 7000th Twitter follower, Peter Saris @BMCA2461. Thanks! Mar 20, 2013

?

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

US Politics & Economic Policy

 

  • Employers Blast Fees From New Health Law http://t.co/FfuBRO2HQp Phases in the added costs of covering sick people previously uninsured $$ Mar 15, 2013
  • Conservative Groups Warn GOP Lawmakers About Deals With Obama http://t.co/vui4GOINCw If this were a 2-player game, would have been solved $$ Mar 15, 2013
  • Gundlach: Investors are asking the Wrong Question http://t.co/xA1UgvCica ht: @ReformedBroker QE as a permanent affair w/which we have 2 live Mar 15, 2013
  • New Group Pushes Corporate-Tax Overhaul http://t.co/P3dwgqQON6 Trying 2 End Double Taxation of foreign profits. Hasn’t worked so far $$ Mar 14, 2013
  • The Almighty Dollar Is Back http://t.co/F3iP3Zblyk Skeptical. Waiting for the Fed to announce increase of QE to send the $$ back down Mar 14, 2013
  • GIs Fighting Nazis Last Time Factory Workers Toiled Longer http://t.co/pVMlMGFRQ0 This is optimistic for new hiring $$ Mar 14, 2013
  • Grand Bargain Taxes, Entitlements Cuts Await Deal Makers http://t.co/gJZ2c4Uc17 My sense is that we r heading 4 another deadlock $$ Mar 14, 2013
  • Refusal to Expand Medicaid May Cost Employers $1 Billion http://t.co/kpxJmCeZvT Pressure is going to grow to eliminate PPACA & Medicaid $$ Mar 14, 2013
  • US Growth = Inventories http://t.co/dOIp5n9sPH Much of the presumed growth in the US is just rebuilding of inventories to a peak level $$ Mar 12, 2013
  • GOP Budget Establishes Contrast With Democrats http://t.co/ocLQndOvsP No chance of it being passed, but gives an idea of where 2 sides r $$ Mar 12, 2013
  • SEC Charges Illinois Over Pension Funding http://t.co/MxEF6hPYPy This is how it should be. No one gets punished in the slightest. $$ Mar 12, 2013
  • Note from last tweet: a lot of ppl want to punish bankers, what about state officials who lie – they r much bigger, where is the outcry? $$ Mar 12, 2013
  • Fed mulls putting a ‘not for sale’ sign on its assets http://t.co/uZAcaHmLeO A sign of weakness from the Fed; they know they r trapped $$ Mar 10, 2013

 

Roman Catholic Church

 

  • Jesuits Had Past Struggles With Popes http://t.co/P8Vy8YEifr In the RC church, they have top liberation theologians &their top opposition $$ Mar 14, 2013
  • Ten things you probably didn?t know about the Jesuits http://t.co/tFijZNMkV9 If the Church have defined anything to be black… amazing $$ Mar 14, 2013
  • The sins of the Argentine church http://t.co/FTzKlsq1I7 New Pope may have been complicit w/Military Dictators killing their enemies. $$ Mar 14, 2013
  • The Changing Church http://t.co/mDPol6orR5 Interesting 2c change in locations of Cardinals. Size of RC church overstated, many not active $$ Mar 14, 2013
  • How Is the Pope Elected? http://t.co/j8p5L9dB5I A little late, but I thought this was an interesting infographic on papal elections $$ Mar 14, 2013
  • African Catholics Look to Black Pope to Safeguard Tradition http://t.co/vxZrJJDgvv US Media does not get how traditional most Catholics r $$ Mar 13, 2013
  • Black Smoke Signals No New Pope http://t.co/9qp8nzlbRb More & less unity in RCC than commonly thought. More: Europe, Less: elsewhere $$ Mar 12, 2013

 

Financial Markets

 

  • To all of the fixed income followers out there: someone asked me today to recommend good bond blogs. What would you recommend? Mar 15, 2013
  • Highest Bond Yield at Auction in a Year Could Be Sign of Things to Come http://t.co/fShhD5iAlp Or it could be a buying opportunity $$ Mar 15, 2013
  • $OAK Founder Knows How to Get an Edge in Investing http://t.co/TaRQSiK5gI “Experience is what u get when u didn’t get what u wanted.” $$ Mar 14, 2013
  • Smallcap Stock Volatility Index Hits All-Time Low http://t.co/l6tCXV7VS4 Complacency is the rule of the the day among small cap stocks $$ Mar 14, 2013
  • 5 ways Warren Buffett invests that you don?t http://t.co/AeCs8fqe6g Good job describing what parts of Buffett’s strategies can b mimicked $$ Mar 14, 2013
  • Team Alpha Retirement Portfolio: Dividend Investing Vs. Annuity Purchasing http://t.co/HNHqI40vDP Example of y I don’t read Seeking Alpha $$ Mar 14, 2013
  • New Carlyle Group Fund Lowers Bar for Investors http://t.co/xiCTwy07Zk As @reformedbroker aptly put it, “Muppet Bait” Avoid. Avoid. $$ Mar 14, 2013
  • Fidelity to Expand ETF Relationship With BlackRock http://t.co/d4PIiCb7oh Fidelity says “Me 2,” by partnering with $BLK . No value added $$ Mar 14, 2013
  • moving down-market http://t.co/qP0YSWKubG @researchpuzzler has it right, inviting small accounts in means opportunities r getting worse $$ Mar 14, 2013
  • Historical S&P 500 Price to Sales (P/S) Chart http://t.co/dm2ZhDDgtE Useful little chart – around avg now, but profit margins r a record $$ Mar 13, 2013
  • SP500 Bull and Bear Factors – Not so Fun Damentals! http://t.co/5OjwvLbLPw Bull factors: QE, Buybacks, Yen. Bear: Econ data, Earnings mo $$ Mar 13, 2013
  • Gold Sales From Soros Reveal 12-Yr Bull Run Decay http://t.co/ze7DSsdIkN Makes me want 2 do a piece on $$ weighted vs time weighted on $GLD Mar 13, 2013
  • Why (Most) People Hate Good Financial News http://t.co/PZcf1usKD1 Regret is a strong force in psyche of amateur investors: missing out $$ Mar 12, 2013
  • How Much Of The Stock Market?s Growth Is Caused By Its Shrinking? http://t.co/Kfxipqvr1Y I would be skeptical here; capital changes weak $$ Mar 12, 2013
  • Securities Lending: Worth The ?Risk? http://t.co/AZxSKFzM2T When done right, sec lending is almost free money, the risks r low. $$ Mar 12, 2013
  • New ETF Underway for Distressed Debt http://t.co/Wp3ZPwaZqj Bad idea. Creating indexes for distressed bonds will be hard, Won’t attract $$ Mar 12, 2013
  • Firms Send Record Cash Back to Investors http://t.co/n0vNv0ppei A sign of economic weakness; there are few places to invest for growth $$ Mar 10, 2013

 

Wrong

 

  • Wrong: Amazon Preparing Bid For Barnes And Noble? http://t.co/qYB3yE6u8U Combination would not be allowed by the FTC $$ Mar 13, 2013
  • Wrong: Why Insurers May Be Unprepared for the Next Big Storm http://t.co/WuJIpvtVBj Most P&C insurers have more than adequate reserves $$ Mar 13, 2013
  • Wrong: The US can?t afford a Chinese economic collapse http://t.co/9vskptvxvx We can afford it; China won’t affect much in the US $$ Mar 12, 2013

 

Rest of the World

 

  • China s Next Potential Bubble: Hello, Anybody Home? http://t.co/IstgcTQZCN Trapped. Potential sellers need prices 2 stay high, buyers low $$ Mar 15, 2013
  • Embrace consumption, IMF’s Zhu urges China http://t.co/TAc5toyktZ Easier said than done. Party not ready to give people more freedom. $$ Mar 15, 2013
  • Nordic Testicular Cancer Mystery Prompts Chemicals Probe http://t.co/LqwH8klTLq Interesting, might be a combo of genetics & environment $$ Mar 15, 2013
  • Jeffrey ??s Japan Stocks http://t.co/lvhM6LFXAv?s-japan-stocks/?utm_source=dlvr.it&utm_medium=twitter Weak yen drives Japan stocks up $$ Mar 15, 2013
  • Recent cyberattacks could be part of a Chinese military strategy started nearly 20 years ago http://t.co/NxZ99g2ZKo Explains what is up now Mar 14, 2013
  • Brazil?s Richest Family Forging $13 Billion Niobium Dream http://t.co/2MHbOkhHPd Stronger flexible steel from a Brazilian tech company $$ Mar 14, 2013
  • Even Berlusconi Can?t Slow Bulls Boosting Euro View http://t.co/PV2mGvfHRr Great 4 core Eurozone, bad news 4 the fringe Eurozone $$ Mar 13, 2013
  • Chinese inflation hits 10-month high http://t.co/rGZJHoZsqj The end of the cycle comes when Chinese inflation gets out of control $$ Mar 13, 2013
  • Snow Causes European Travel Chaos http://t.co/tz3afCLET9 That’s one thing about weather & climate, constantly changing & always will $$ Mar 13, 2013
  • Should You Bond With Azerbaijan? http://t.co/gpE429eGa8? by @jasonzweigwsj | Emerging market govts are better run than developed govts $$ Mar 12, 2013
  • Norway Fund Flees Currencies Tainted by Stimulus Addiction http://t.co/X7YasIGkKn Rational response2 depreciating currencies: hail Norway $$ Mar 12, 2013

 

Banks

 

  • JP Morgan’s Jamie Dimon showed too much hubris and too little humility http://t.co/4feQB2Q6Jx @moorehn highlights cultural problem @ $JPM $$ Mar 15, 2013
  • Bubble Exchange: Technology vs Financials http://t.co/BJKoaFfjdo Suggests that financials, not tech, will do better in the future $$ Mar 15, 2013
  • EU Said to Plan Concession on Tax Credits as Bank Capital http://t.co/Ss3J4KBGbv Deferred Tax Assets should not be allowed as capital $$ Mar 15, 2013
  • Deferred Tax Assets r only valuable if a company makes $$ in the future, which for a bank in distress is less likely; should not b capital Mar 15, 2013
  • Beware of a New Banking Bubble http://t.co/gr5c2S9NaI Three recent deals involved premiums of 32% to 83% above tangible book value $$ #fire Mar 14, 2013
  • Fisher and Rosenblum: How to Shrink the TBTF Banks http://t.co/pNfzML2A22 Could work, roll back safety net, keep pieces small, holdcos fail Mar 14, 2013
  • 5 Big Questions for the Future of Retail Banking http://t.co/sCKi6QjfCu Branches buy/sell, online/mobile, layoffs, interest margins down $$ Mar 14, 2013

 

Companies & Industries

 

  • Lawmakers Examine Ethanol Credits’ Affect on Gas Prices http://t.co/5RHXnKcuFG Wasteful program doesn’t aid conservation adds 2 pollution $$ Mar 15, 2013
  • 5 beloved tech products that were sentenced to death http://t.co/bg4S90UHlZ Impending death of Google Reader makes writer wax nostalgic $$ Mar 15, 2013
  • Google and Bing Say the Future of Search Is Conversational http://t.co/mx2gfh6oSr Software improves ability 2 understand contextual data $$ Mar 15, 2013
  • Herbalife short-seller sues banks, Icahn over alleged fraud http://t.co/NaL4X9aXW3 Losing investor throws good $$ after bad, will not win Mar 14, 2013
  • Evolv, Making Hourly Workers More Profitable, Lands $15 Million http://t.co/DDEyoCk7Ay Improves retention of the employees u want 2 keep $$ Mar 14, 2013
  • Lincoln?s Cooper Shuns Shoot-For-Moon Funds After Goldman http://t.co/7PdLGT5TGb This does not make me feel better about $LNC. Avoid. $$ Mar 14, 2013
  • How Benjamin Franklin Invented the Mail-Order Business http://t.co/TC6DmWsZck A look at the precursors to mail-order retail. Interesting $$ Mar 14, 2013
  • Lego Builds New Billionaires as Toymaker Topples Mattel http://t.co/jxkqNatzZk Family controls 75% of the operation through Kirkbi A/S $$ Mar 14, 2013
  • 8 Megatrends Defining the Oil & Gas Industry http://t.co/Taz5Dsujwh Nationalization, Ending subsidies, Green, New frontiers, LNG, M&A $$ &c Mar 14, 2013
  • Blackstone Said to Get $2.1 Billion Loan for Home Purchases http://t.co/qDg7DrSBGk I’m skeptical, don’t think renting homes is scalable $$ Mar 14, 2013
  • Many hospitals, doctors offer cash discount for medical bills http://t.co/ckLOHxh1TH ht: @dpinsen | Sometimes ucan pay less w/o insurance $$ Mar 13, 2013
  • Gas Rigs Drop to Fewest Since 1999 as Drilling Declines http://t.co/b3YztqbTqs Almost like the old days when they would flare off natgas $$ Mar 13, 2013
  • Starr Proceeds With Fight Over $AIG Rescue http://t.co/WPNIOyib7B I don’t think he will win, but Greenberg will get his day in court $$ Mar 13, 2013
  • Beating The Downturn By Degrees http://t.co/9BT69ix6Fs Good summary article on the for-profit educators $$ Mar 13, 2013
  • Liberal-Arts Colleges Dangle Deals to Woo Students http://t.co/v3Qd07x8AD Pay for 4 years & never have 2 pay again; u *can* finish 4 free $$ Mar 13, 2013
  • InTrade Online Betting Site Shuts Down Abruptly http://t.co/Rb0Ppald2u A long shot from the start, current bettors may b stuck w/the loss $$ Mar 12, 2013
  • Green Cars Have a Dirty Little Secret http://t.co/wk5UfvYiYn Producing and charging electric cars means heavy carbon-dioxide emissions. $$ Mar 12, 2013
  • Uninsured Americans Get Hit With Biggest Hospital Bills http://t.co/6QeybZMIz8 First value of insurance is buying power lowering prices $$ Mar 12, 2013

 

Other

 

  • Jim Gaffigan Is the King of (Clean) Comedy http://t.co/RhUM30krSU Heartening 2c clean humor getting attention; certainly harder 2 do $$ Mar 15, 2013
  • The Bearded Man http://t.co/ub5n07UjFZ I’m no trendsetter. If you’re out of fashion long enough, eventually u accidentally get in fashion $$ Mar 15, 2013
  • Does money taint the sharing economy? http://t.co/yTjd3w8ThO If you want an organization to last, there must be a profit margin $$ Mar 15, 2013
  • Scientists find how deadly new virus infects human cells http://t.co/YLfoqPbvJ1 Disease is similar to SARS. Infected 15, killed 9 $$ Mar 14, 2013
  • Former Ravens May Outnumber Ravens http://t.co/SIxpATVmC6 Noticed in Baltimore; curse of the Joe Flacco contract; less $$ for rest of team Mar 14, 2013

 

Retweets & Replies

  • ‘ @tradewins @moorehn The problems are concealing data from the regulators, & Dimon perhaps concealing what he truly knew at the time $$ Mar 16, 2013
  • @TWealthMgmt Yeah, they are good, & I mentioned them. Seems many bond blogs have folded; they had a finite maturity 😉 Mar 15, 2013
  • @nelson3748 Railroads r scarce; impossible to replicate; has a big moat w/pricing power; trucking has no moat; scale is needed Mar 14, 2013
  • I just left a comment in “5 ways Warren Buffett invests that you don?t – Jonathan Burton’s Life Savings – MarketWat?” http://t.co/2tjAaDwkV7 Mar 14, 2013
  • Yes, but the nice thing about Pi day is that it has been a round RT @EddyElfenbein: Celebrating Pi Day seems so irrational. Mar 14, 2013
  • @EliHoffmann Don’t get me wrong I *like* dividends & have for a long time. They r more frail than the new advocates assume Mar 14, 2013
  • @EliHoffmann There r other things he got wrong re insurance, but the faith in dividends is naive. They get cut in bad periods like the ’70s Mar 14, 2013
  • @EliHoffmann Annuities r guaranteed by state guarantee funds Mar 14, 2013
  • @DavidSchawel Thanks, but r u bullish on it or neutral? Mar 14, 2013
  • @DavidSchawel How successful? Mar 14, 2013
  • No RT @pdacosta: VZ president says Chavez, now close to Christ, had a hand in choice of South American pope http://t.co/WYR2izYIsk Mar 14, 2013
  • “Pretty cool. Billy Joel took a chance on the student, and it was beautiful. Kid had moxie.” ? David_Merkel http://t.co/YBUfXDNSGH $$ Mar 14, 2013
  • UCan say that again RT @ReformedBroker:Muppet Bait MT @researchpuzzler:Don’t miss your chance 2 play w/big boys of PE http://t.co/5fg2tLPXS3 Mar 14, 2013
  • Listening to broadcasters in Rome, it reminds me of the Super Bowl when the power went out; gotta say something, but not much to say… $$ Mar 13, 2013
  • . @scott_matagrano Also, $AIG’s domestic life companies were BK until rescued b/c of sec lending… long story: http://t.co/EmnSclWqVS $$ Mar 13, 2013
  • @scott_matagrano Not *quite* riskless. There were some bond trades I could not execute b/c we could not get the shares back. Mar 13, 2013
  • @merrillmatter I don’t but some of my clients do. Mar 13, 2013
  • @ReformedBroker Hey Josh, where is that indicator now? Mar 12, 2013
  • @weelifeworkplay Saw that, but property tends not to vary in value as much as currencies do. Owning land tends to preserve value, mostly $$ Mar 12, 2013
  • @prchovanec In a word, overvalued. P/E measurements of value fluctuate too much b/c earnings varies more than sales or book $$ Mar 12, 2013
  • @exMBB I avoid life companies that primarily write variable business; the accounting quality is poor. No opinion on $PNX $$ Mar 12, 2013
  • @SagittaCapital I’m afraid that one is a ‘No.” I don’t have a lot to say there. Mar 12, 2013
  • @60Minutes @sherylsandberg That’s dumb. It could just be rudeness, or ego, and the same applies to boys. Will to power <> leadership $$ Mar 11, 2013
  • @prchovanec P/E is more significant in the short-run. CAPE10 & Q-ratio more significant in the long run. $$ Mar 10, 2013

 

FWIW

 

  • My week on twitter: 48 retweets received, 11 new listings, 51 new followers, 55 mentions. Via: http://t.co/cPSEMLXpb8 Mar 14, 2013

 

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Rest of the World

 

  • West Australia Set to Stay Liberal Highlighting Gillard?s Plight http://t.co/8Vp0mjPjJt Some Labor policies r perceived 2b anti-mining $$ Mar 07, 2013
  • Top Stock Kroton?s School-Loans Growth Decelerates http://t.co/NrmeHL4hP9 Brazil goes down the student loan path US has. Better results? $$ Mar 07, 2013
  • Merkel Looks East for Austerity Allies in Hollande Talks http://t.co/3uSJ5frCcm Austerity is getting 2b a tougher sell; when does it end? $$ Mar 07, 2013
  • Saudi Next Generation Has US Imprint as King Picks Leaders http://t.co/GBReGpuS2x Wahabiism won’t accept cultural reforms; 2 optimistic $$ Mar 07, 2013
  • Impotent Mursi Losing Grip on Egypt as Unrest Prompts Reversals http://t.co/tsm8FzIs5x Anarchy rules as Mursi putters; no 1 2 replace him $$ Mar 07, 2013
  • EU Unemployment: Titanic in Perspective http://t.co/StpmdeBEm7 ~12% unemployment across the EU & still rising. Sound like a success 2u? $$ Mar 06, 2013
  • Pound?s World-Worst Drop Seen Growing in Pimco Math http://t.co/4yqRnOldzj Everyone wants a cheaper currency in the race 2 the bottom $$ Mar 06, 2013
  • China ‘fully prepared’ for currency war http://t.co/cdR7AWWTHw Brave words from a country w/an immature financial system $$ Mar 06, 2013
  • Japan’s Economic Bad Mix : Yen, Oil and China http://t.co/ELaLyiQe9e Not a question of Japan getting into trouble, only what catalyzes it $$ Mar 05, 2013
  • Reforms Stall in Athens as Troika Considers Next Aid Tranche for Greece http://t.co/P0n3aSAe9u Still don’t c how Greece avoids leaving EZone Mar 03, 2013

 

Energy

 

  • Chevron Shale Bet Down Under Makes Senex Target http://t.co/GnfWLIKi98 That’s why gas found in Australasia is so valuable FD: long $CVX $$ Mar 07, 2013
  • Ethanol Outpaces Gasoline on Longest Supply Drop Since 2010 http://t.co/FluutBbaoa Margins r wide enough shut capacity reopens $$ FD: + $VLO Mar 07, 2013
  • Conoco Says US Should Consider Allowing Oil Exports http://t.co/D6FqHkZIvO Now that we make more than we consume, y not sell excess? $$ Mar 07, 2013

 

Other

 

  • When ‘Jazz’ Was a Dirty Word http://t.co/cpipuRDcNi Fascinating 2c how jazz musicians rejected the label, but played w/great enthusiasm $$ Mar 09, 2013
  • Making a Liberal-Arts Education Pay http://t.co/Ob8wZyKb7Z Trouble w/liberal arts: not enough science & math; written by an English prof $$ Mar 07, 2013
  • Stress at Work: Why Women Feel It More Than Men http://t.co/AeLwohdPvL Women tend 2 ‘Tend and Befriend.’ Men tend 2 fight/act or leave $$ Mar 07, 2013
  • Rice Glut Expands With Farms Poised for Record Crop http://t.co/6M5bUdEQyF I’ve heard there r animal feed shortages, can rice b used? $$ Mar 06, 2013
  • In Geology, Old-Timers Can Be Worth Their Weight in Gold http://t.co/4c7TP8TKxg They analyze plants, animals, not just computer analyses $$ Mar 05, 2013
  • Many Avoid Tough Path to Citizenship http://t.co/9HEiMYmQTf Costs time & $$, effort from studying, hiring a lawyer, etc. Mar 05, 2013
  • As Pirates Run Rampant, TV Studios Dial Up Pursuit http://t.co/KdBMYEIpOg Story of television trying to eliminate piracy and not winning $$ Mar 05, 2013
  • Glad that Venezuela does not have to suffer through more of Chavez, but sad 4 him. Now, what will the election result be? $$ Mar 05, 2013

?

Companies

 

  • Icahn Unbound Takes Activism to New Peak in Deal Fights http://t.co/M2eAw3DLWc He’s having a lot of fun going after poorly planned deals $$ Mar 09, 2013
  • Why Vodafone Should Head for a Verizon Exit http://t.co/0FusnV2ZzG $VOD should make $VZ pay up, they have less need 2 act | FD: + $VOD $$ Mar 07, 2013
  • Boeing Said to Boost 787 Battery Tests As Carmakers Aid http://t.co/yOqFiyGlx0 2 Many batteries passing “quality control” @ manufacturer $$ Mar 07, 2013

 

Market Impact

?

  • Wrong question. by @ReformedBroker http://t.co/jzY7UcQYuS Tie your hands w/asset allocation. Give yourself limited movement re fear/greed $$ Mar 07, 2013
  • Proof the Fed is Juicing the Markets http://t.co/6RDGyEDueG Correlation is not proof, but the monetary base is highly correlated w/DJIA $$ Mar 07, 2013
  • Welcoming, and Worrying About, a Record Market http://t.co/K3fdzRpOJ6 Last inflation adjusted DJIA high was not Oct-2007, but Jan-2000 $$ Mar 06, 2013
  • Young Adults Retreat From Piling Up Debt http://t.co/FRIgpI8ELb Saving is the secret to getting the big ticket items 2 make life pleasant $$ Mar 06, 2013
  • Qualified Private Activity Bonds Come Under New Scrutiny http://t.co/LHNuPoAWjQ Corporations have access to issuing tax-exempt bonds $$ Mar 06, 2013

?

US Government & Economic Policy

 

  • Yale Suing Former Students Shows Crisis in Loans to Poor http://t.co/nhc0JjmEj5 Loan programs seem cheaper in the short run, deceptive $$ Mar 07, 2013
  • Tom Coburn?s Campaign Against Government Waste http://t.co/SeIO1CIQI5 Coburn fights for what is right regardless of what the GOP thinks $$ Mar 07, 2013
  • Nurses Spar With Doctors as 30 Million Insured Seek Care http://t.co/jgCNVanub3 These fights will be more common as Obamacare proceeds $$ Mar 06, 2013
  • S&P Credibility Seen Eroded by Complicity in Soured Deals http://t.co/VsYxQL4wfw Where r the complaints about regulators forcing ratings? $$ Mar 06, 2013
  • Warren Buffett Sees ‘Hair Trigger’ When Fed Shifts Stance http://t.co/28nIn3rDiw Right. Now if he would spend time speaking truth 2 power $$ Mar 06, 2013
  • US Sequestration : Market Impact on financial assets http://t.co/6zUZXo2yWq Would nitially b deflationary, but lead to growth later IMO $$ Mar 05, 2013
  • Dr Copper and his funny friends dont agree with SP500 – Divergence ! http://t.co/TpmemT4Ai6 Real economy not doing as well as S&P 500 $$ Mar 03, 2013
  • US Restaurant Index and US Consumer Confidence http://t.co/4Bc83xsrbU Restaurants r sensitive indicators of consumer behavior: weak now $$ Mar 03, 2013
  • Federal Reserve: What Happens When It Runs Out of Ammo? http://t.co/F2jHPEROU3 What happens when they need2tighten & reaction is violent $$ Mar 03, 2013
  • Two Scenarios for Future of ‘Big Finance’ http://t.co/DdQwk7Jyj6 Finance still needs 2 shrink, the economy needs total debt 2b < 2x GDP $$ Mar 03, 2013
  • US Incomes Fall, Spending Rises http://t.co/ldYgPDETEc What do you expect when you add back the payroll tax? $WMT takes a hit also $$ Mar 03, 2013
  • Druckenmiller Sees Storm Worse Than ?08 as Seniors Steal http://t.co/A0eSwqZYab It is very bad, but I don’t get the $211T number, too big $$ Mar 03, 2013
  • Obama Orders Cuts That Will Be ?Slow Grind? on Economy http://t.co/lgzqxK8iWw Next stop, 3/27 when the spending authorization expires $$ Mar 03, 2013
  • Obama Makes Cuts Personal in Strategy to Bend Congress http://t.co/AqjKaD865f May try to mismanage sequester to embarrass Republicans $$ Mar 03, 2013

Markets

 

  • Edge: Milevsky, Ritholtz, Zweig, Ferri & More http://t.co/N5CIsbv4x4 This year?s Edge Q is What *should* we be worried about? I’m in it 2 $$ Mar 05, 2013
  • Kass Takes Buffett?s Challenge to Present Bearish Questions http://t.co/WEmq4Y57Cn @DougKass gets fun of poking holes in Warren’s theses $$ Mar 05, 2013
  • Buffett’s Advice to Apple’s Tim Cook: Ignore Einhorn http://t.co/5z6QEoMBAm Warren tells him to manage for the long haul. Wise words $$ Mar 05, 2013
  • Investing methods that beat the market http://t.co/1CFvZQMwLf Momentum, small cap, value, yield — can all be mimicked through ETFs $$ Mar 05, 2013
  • Birinyi Says Buy Mining, Technology Shares as Bull Ages http://t.co/ywui2NoQwL Yes 4 tech, but miners have over developed, poor profits $$ Mar 05, 2013
  • How much do stocks really return? http://t.co/J3u19M5AmP Good article, but I think the advantage of stocks over inv grade bonds is ~1%/yr $$ Mar 05, 2013
  • Say Goodbye to the 4% Rule for Retirement http://t.co/AhWrDqfOdy Better rule: Ten-year Tsy yield +2% if bullish, +1% neutral, +0% bearish $$ Mar 05, 2013

 

Other

 

  • In Florida, Sinkhole Risks Grow With Urban Expansion http://t.co/VRX7vsSqDr West Central Florida has a sinkholes, could lose 4 counties? $$ Mar 07, 2013
  • Imagining a Post-Bundle World for Cable TV http://t.co/U86Jducpeg Popular shows/networks would do better, less popular would suffer $$ Mar 03, 2013

 

Replies & Retweets

  • Why should the companies you listed pay 6%, when all of them could issue senior unsecured for less than that? http://t.co/Shc5Rq4c8F Mar 07, 2013
  • @The_Analyst They would give up that much to avoid being sr unsec liability?? Mar 07, 2013
  • Bigtime MT @BarbarianCap: $PRU >Annuity Fees Would Make Bankers Dance http://t.co/brvonxtRHS >> CEO touting how expensive their products r Mar 07, 2013
  • You can say that again RT @munilass: This is beautiful. The use of drones is finally getting the attention it deserves. Mar 07, 2013
  • Good one! RT @JMucken: @AlephBlog It would be metaphorical to give the winner a “gold” medal. Mar 06, 2013
  • I agree w/that, as it says in Romans 3:8 http://t.co/wYE9utGxjD RT @cogent_rambling: Bad doesn’t erase good. http://t.co/6yCqpHp405 Mar 06, 2013
  • RT @agnestcrane: I’d say credit markets feel pretty good about banks ahead of stress tests. BofA, GS, MS CDS spreads have more than halv … Mar 06, 2013
  • I use that when I worry about retailer spam RT @cullenroche: On a more serious note, why in the world do I still use my Yahoo email account? Mar 06, 2013
  • Maybe we could turn competitive devaluation into an Olympic sport. Send all finance ministers & central bankers 2 Sochi w/a 1-way ticket $$ Mar 06, 2013
  • @Fullcarry Thanks for the info, helps Mar 05, 2013
  • Jesus will surprise him RT @mattrixDOTinfo: re: Chavez and being sad. It’s a shame Chavez will now have 2b held accountable to our Maker. Mar 05, 2013

 

FWIW

  • My week on twitter: 39 retweets received, 2 new listings, 90 new followers, 36 mentions. Via: http://t.co/cPSEMLXpb8 Mar 07, 2013
Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Berkshire Hathaway

 

  • $BRK.B The preferred has 2 other features that materially increase its value: at some point it will b redeemed @ a significant premium price Mar 01, 2013
  • …the preferred also comes with warrants permitting us to buy 5% of the holding company?s common stock for a nominal sum $$ FD: + $BRK.B Mar 01, 2013
  • Buffett to Update His Acquisition Hunt http://t.co/OHzvc2xQBW Buffett has more than enough $$ to buy what he wants; free cash flow is huge Mar 01, 2013
  • We Want Your Questions for Warren Buffett http://t.co/7GiMfdYbst Mail in your questions for Warren Buffett & do it here. I wil do so. $$ Mar 01, 2013

Full Disclosure: long BRK/B

 

Monetary Policy

 

  • Federal Reserve: What Happens When It Runs Out of Ammo? http://t.co/F2jHPEROU3 What happens when they need2tighten & reaction is violent $$ Mar 03, 2013
  • Fed Could Slow Bond Selloff http://t.co/HifHyKx4Su And so they dream, not realizing tightening cycles r proportionate to loosening cycles $$ Mar 01, 2013
  • Bernanke Says U.S. Must End ?Too Big to Fail? Bank Subsidy http://t.co/ScBqYKo3oG Easy2do: keep raising deposit ins prems till banks balk $$ Feb 28, 2013
  • Kuroda?s Inflation Failure Seen in Long Bond Rally http://t.co/EuDTpe0kPd Most nations of the world r trying voodoo economics, Japan most $$ Feb 28, 2013
  • Bernanke?s Stimulus Spurring US Employment in Housing http://t.co/GYhrkyWGI8 I would be more optimistic if new sectors were prospering $$ Feb 25, 2013
  • Trade protectionism looms next as central banks exhaust QE http://t.co/M5jJDSbxrD Weakening your currency can give a temporary advantage $$ Feb 25, 2013

 

US Economy

 

  • Dr Copper and his funny friends dont agree with SP500 – Divergence ! http://t.co/TpmemT4Ai6 Real economy not doing as well as S&P 500 $$ Mar 03, 2013
  • US Restaurant Index and US Consumer Confidence http://t.co/4Bc83xsrbU Restaurants r sensitive indicators of consumer behavior: weak now $$ Mar 03, 2013
  • US Incomes Fall, Spending Rises http://t.co/ldYgPDETEc What do you expect when you add back the payroll tax? $WMT takes a hit also $$ Mar 03, 2013
  • Obama Orders Cuts That Will Be ?Slow Grind? on Economy http://t.co/lgzqxK8iWw Next stop, 3/27 when the spending authorization expires $$ Mar 03, 2013
  • Obama Makes Cuts Personal in Strategy to Bend Congress http://t.co/AqjKaD865f May try to mismanage sequester to embarrass Republicans $$ Mar 03, 2013

 

Rest of the World

 

  • Reforms Stall in Athens as Troika Considers Next Aid Tranche for Greece http://t.co/P0n3aSAe9u Still don’t c how Greece avoids leaving EZone Mar 03, 2013
  • Ivory Coast?s Women Reject Equality in Household Debate http://t.co/1AuTdZTb9r Equality means men don’t have to support their households $$ Mar 01, 2013
  • Japanese Revival Seen in Honda?s First Plant in 49 Years http://t.co/oKo5aBuxhA $HMC new factory comes just as weak yen boosts prospects $$ Feb 28, 2013
  • Wrong: Berlusconi?s Surge Shows Why Europe Needs a Deeper Union http://t.co/f3dQLVA6zB Rather, it shows why the Eurozone should fold $$ Feb 28, 2013
  • India May Curb Widest BRIC Budget Gap for Rate-Cut Room http://t.co/kqhBm895gt BRIC should not b a group; problems r very dissimilar $$ Feb 28, 2013
  • Asia s Huge Debt Growth Problem: Remember 1997? http://t.co/dZ3nAnFyXe Bank lending/GDP in Asia exceeding levels at 1997 crisis $$ Feb 28, 2013
  • $20 Phone Stars at Mobile World Congress http://t.co/mbKdgSMwso And it can go 35 days without charging; $NOK – hero of developing world $$ Feb 28, 2013
  • Ruchir Sharma: China Has Its Own Debt Bomb http://t.co/DaoTuJGO17 China is so bad off that no one would want to be in their position. $$ Feb 26, 2013
  • China?s premature overheating http://t.co/2YBgqsA365 Need to free the economy, end force-feeding of credit to glutted sectors & cronies $$ Feb 26, 2013
  • Canadian Economy Tumble http://t.co/sDbAj0uajE Compilation of articles showing the slowing Canadian consumer, & its effect on the economy $$ Feb 25, 2013
  • Has Spain?s Economic Contraction Become Self Perpetuating? http://t.co/XOSFgBL6yb Population shrinkage from migration kills entitlements $$ Feb 24, 2013
  • Pettis: Countries w/higher external debt levels r constrained in their ability2wage currency war w/countries w/lower external debt levels $$ Feb 24, 2013

 

Financial Sector & Pensions

 

  • Two Scenarios for Future of ‘Big Finance’ http://t.co/DdQwk7Jyj6 Finance still needs 2 shrink, the economy needs total debt 2b < 2x GDP $$ Mar 03, 2013
  • Druckenmiller Sees Storm Worse Than ?08 as Seniors Steal http://t.co/A0eSwqZYab It is very bad, but I don’t get the $211T number, too big $$ Mar 03, 2013
  • McGraw Fighting U.S. Justice Recalls AmEx Battle to Save Company http://t.co/R6likSWxrk He fights valiantly against those who r evil $$ Mar 01, 2013
  • Rule Split to Put U.S. Banks at a Loss http://t.co/BUAORxUyjt This is overstated; the real cash flow happens through statutory accounting $$ Mar 01, 2013
  • Gatsby, Galbraith and the Myth of Coolidge?s Crash http://t.co/prutRWBzHS The Crash caused by debt over-accumulation, like current crisis $$ Feb 28, 2013
  • Payday Loans Get US Consumer Bureau Scrutiny as ?Debt Traps? http://t.co/cfYHHUPsX7 This is one area where I would favor fiduciary stds $$ Feb 28, 2013
  • Providence, R.I. claims firm missed $10 mln in pension costs http://t.co/GgHm2FAIIT Suing the actuarial firm for liability miscalculation $$ Feb 28, 2013
  • Wells Fargo Credit Profile Hurt by Heinz Deal, Moody?s Says http://t.co/ND3APjqqfk | FD: long $WFC I think the $HNZ loan is well-proected $$ Feb 26, 2013

 

Other

 

  • Imagining a Post-Bundle World for Cable TV http://t.co/U86Jducpeg Popular shows/networks would do better, less popular would suffer $$ Mar 03, 2013
  • Assembly-Line Pizza Draws Hungry Fast-Casual Investors http://t.co/cozthTImDm Pizza to order will be available at reasonable prices $$ Mar 01, 2013
  • Too Much OIL http://t.co/PLBMRD24Vw Provides one useful tailwind for the US economy $$ Feb 26, 2013
  • Joel Kotkin: America’s Red State Growth Corridors http://t.co/ydjK0zKPyf Pro-business states tend to attract more biz & population $$ #texas Feb 26, 2013
  • Dennis Gartman: Selloff More Than a Rumble http://t.co/Y9IBBPHAyf Sometimes when weak holders arrive, an event like Italy trip them up $$ Feb 25, 2013
  • Generic-Drugs Court Decision Irks Businesses http://t.co/RJEEWut9Cs I don’t think this precedent will stand after the appeals process $$ Feb 25, 2013
  • I finally wrote my “big think piece” regarding security pricing. Here it is: http://t.co/hE6EGgjcJZ Death 2 Modern Portfolio Theory! $$ #FTW Feb 24, 2013
  • You’re Not as Good an Investor as You Think You Are http://t.co/2caH2rv5Rf We deceive ourselves to feel good $$ by @jasonzweigwsj Feb 23, 2013

Comments & Retweets

  • @PScatterpatter I posted a link to a smaller document with last night’s blog post http://t.co/ndWwIgtwPC Mar 01, 2013
  • @PScatterpatter Ernst & Young put it together to teach their own people Feb 28, 2013
  • @kyles09 I don’t see anyone willing to outbid & pay breakup Feb 28, 2013
  • @applehead72 enough refining, but not in right spots, also not enough transport abilities Feb 28, 2013
  • @Nonrelatedsense Didn?t know that, thanks. Feb 26, 2013
  • Anyone else have a problem that the latest Java 7 release (update 15) causes some programs to fail, like IB’s TWS? Feb 25, 2013
  • “Josh, if you have 4-6 hours to read it, the book “Once in Golconda,” gives the flavor of the?” ? David_Merkel http://t.co/jaZDnLqKvt $$ Feb 24, 2013
  • “Well done, from dyed-in-the-wool fundamentalist. As an example, Buffett has a bin on his desk?” ? David_Merkel http://t.co/1rAp8LeP85 $$ Feb 24, 2013

?

FWIW

  • My week on twitter: 24 retweets received, 117 new followers, 37 mentions. Via: http://t.co/cPSEMLXpb8 Feb 28, 2013

?

Full Disclosure: long BRK/B, WFC

?

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Companies

?

  • Cargill joins Wall Street banks as swap dealer http://t.co/vvamqbSPM0 Could b a good idea 4 any firm that does much commodities hedging $$ Feb 22, 2013
  • Office Depot To Buy OfficeMax? And Then There Were Two. http://t.co/VzkCs2aDWl 0 + 0 = -1 Combined company faces $AMZN undercutting them $$ Feb 21, 2013
  • U.S. Insurers Resist Push to Make Gun Owners Get Coverage http://t.co/8DvviX2jRU It hasn’t worked that way with cars; this is a good idea $$ Feb 21, 2013
  • $OMX & $ODP merge — market doesn’t like it, combined companies worth less than before the merger rumor emerged $$ http://t.co/sy41UOiY Feb 20, 2013
  • Buffett brand has more beans than Heinz http://t.co/9xdLHvic The investor has won every advantage in the deal, writes Alice Schroeder $$ Feb 19, 2013
  • Bondholders Dislike Uncertainty in Berkshire-Heinz Deal http://t.co/vRylO1uj Bondholders, Buffett *never* assumes acquired debt $$ #patsies Feb 19, 2013
  • Annaly Reversing Slump as Denahan Tries to Dodge Fed http://t.co/eFkOQMtc $NLY changes its character as Fed crowds them out of RMBS $$ Feb 19, 2013
  • The Pitfalls of Dividend Yield in the Oil Patch http://t.co/CsUPn6T3 The higher the dividend yield the less $$ 2 pour in2 exploration/growth Feb 19, 2013
  • Reader?s Digest Is Bankrupt; Iconic Magazine Falters http://t.co/NYzgyqSQ 2 much debt & competition from internet; private equity failure $$ Feb 18, 2013
  • Danone Stake Poses a Challenge for Heinz Investor Peltz http://t.co/P492n9ic Much harder 2 get changes in France than the US. Won’t work $$ Feb 18, 2013
  • US Airways Wins AMR as Horton Said to Wage Last CEO Push http://t.co/aqTIj0cD CEO job went 2 visionary who saw a way 2 create value $$ Feb 17, 2013
  • Amazon Sells Out Predator Drone Toy After Mocking Reviews http://t.co/14FOo6H1 Don’t like it keep quiet; mocking draws more attn & sales $$ Feb 17, 2013
  • What? Carl Icahn Just Thinks Selling Diet Shakes And Herbal Tea Is A Really Good Business http://t.co/tZAYwLRZ nuances of synthetic long $$ Feb 16, 2013
  • McGraw-Hill Credit Rating Cut by Moody?s After U.S. Sues S&P http://t.co/yV4DMich Less 2 this than some say; it’s just business, baby $$ Feb 16, 2013

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Rest of the World

?

  • Waiting for a Crisis http://t.co/acZOK6tG Wishful thinking on this side of the Pacific, but China needs to reduce the size of government $$ Feb 20, 2013
  • Cyberwar With China Is Here, Like It or Not http://t.co/d0GYgZ5z Most systems can be compromised from inside by inviting someone 2 err $$ Feb 19, 2013
  • Spanish Debt Grows by Euro146 Billion, Largest Ever Recorded; Debt-to-GDP Highest Since 1910 http://t.co/gvPQntX6 Spain will leave EZone $$ Feb 19, 2013
  • G20 currency truce shortlived as Japan mulls foreign bond buys http://t.co/nMpGhREw Japan decided G20 meeting gave a free pass to devalue $$ Feb 19, 2013
  • China?s New Leader Needs Grip on Wacko Next Door http://t.co/lEMu4aqM Instead, trade Taiwan for North Korea. Interests become aligned $$ Feb 19, 2013
  • Saxo Bank CEO Says Euro Is Doomed as Currency Woes Resurface http://t.co/z3TekaAD CEO: “Right now we?re in one of those fake solutions” $$ Feb 18, 2013
  • Billionaire Miner Fights Rivals to Halt Digs on His Ranch http://t.co/GwwtJW78 Interesting Aussie mining claims law; u only own top meter $$ Feb 18, 2013
  • Mrs. Watanabe Dumping Australia Debt Signals Turn for Yen http://t.co/jzoAdZi7 JPY Retail FX speculators try to pick a top for the AUD $$ Feb 18, 2013
  • How China’s President Is Earning A Nobel Peace Prize http://t.co/ETDm3nU1 If true, many unlawfully detained in China may be freed $$ Feb 18, 2013
  • Ugliest Danish Banks Find No Buyers in Toxic Asset Trap http://t.co/r9pJyJbA 2 much leverage in system makes resolutions hard. Who can buy? Feb 18, 2013
  • BlackRock Sounds Covered Bond Collateral Alarm http://t.co/2x8TUlAd Weaker collateral & larger haircut did not work well 4 securitization $$ Feb 18, 2013
  • CDS Uncertainty Adds to Fear on Europe Bank Bonds http://t.co/iwe0OzAu Y don’t the protection buyers get paid by sellers? No auction poss $$ Feb 18, 2013
  • Hugo Ch?vez Returns to Venezuela http://t.co/7zjjeqPZ I wouldn’t get 2 excited; rare that he would fully recover after so many operations $$ Feb 18, 2013
  • Japan flirts with equity targets to drive a stake in the zombie economy http://t.co/nUqJzPXQ Targeting yields& equity prices doesn’t work $$ Feb 18, 2013
  • EU Economy and Horse Meat Scandal: Both Finishing last at the Gate – Germany to follow? http://t.co/bC79NXaW EZone Core falters, what2do? $$ Feb 18, 2013
  • Celebrating the end of the eurozone affair ignores the heart of the matter http://t.co/qH8dbJcl Problems reappear after victory declared $$ Feb 18, 2013
  • Group of 20 chiefs take stand on exchange-rate policies http://t.co/sCCweMmW Basically, nothing happened, everyone hopes it goes away $$ Feb 18, 2013
  • Hollande Tiptoes Toward Raid on Pensions With EU Pressure http://t.co/i8MZZnCS No way to make the budget balance; needs many, too little $$ Feb 17, 2013
  • Walking-Pace Trains Spur $17 Billion India Rail Revamp http://t.co/75U6s3Ch I don’t believe in the BRIC nations; all have huge problems $$ Feb 16, 2013
  • Auto Keiretsu Wracked by Antitrust Probes http://t.co/slQiOR5d Friendly collusion 4 the purpose of quality, or profit? Not allowed in US $$ Feb 16, 2013

 

Other

 

  • Cardinal Dolan Preps for Conclave Vote on New Pope http://t.co/R0ffQ9Q76J “Bring Peanut Butter” & other tips for traveling Cardinals. 😉 $$ Feb 21, 2013
  • Sewage Status Grows as Resource for Utilities to Skiers http://t.co/MCKboprN2P Amazing what we can do2 convert waste to power $$ Feb 21, 2013
  • Gasoline Pump Prices Soaring on Refinery Repairs, Oil Rally http://t.co/98E0NlHy Rising crude prices & refinery outages raise gas prices $$ Feb 20, 2013
  • Ironing Out the Wrinkles?The Complexities of Madeleine L?Engle http://t.co/ZeU5HKNn As a kid, I loved ML, opinion has always fallen since $$ Feb 19, 2013
  • Rotten Egg Gas Seen Offering Promise of Extending Life http://t.co/3GZYNK0f Hydrogen Sulfide – up to a limit we could all use more of it $$ Feb 19, 2013
  • What Doesn?t Kill Us Makes Us Stronger http://t.co/zB4cwRkY Small problems lead to product & service improvement & more robustness $$ Feb 18, 2013
  • Close Encounter by Asteroids Makes Case for Scrutiny http://t.co/LA5dyO7k We humans always fight the last war; remember the avian flu? $$ Feb 16, 2013

 

Credit Conditions

 

  • Junk Bond Froth Seeps into Emerging Markets http://t.co/mIq7e1qt I prefer emerging market gov’ts to corporate junk, they are run better $$ Feb 20, 2013
  • Bubbles and fraud: A smoking gun? http://t.co/BBbEsqGn Easy profits always brings out the worst in people; no wonder fraud increases then $$ Feb 20, 2013
  • The Indianapolis 500 of Corporate Bonds Yields http://t.co/EpblxrM0 The trend chaser are blowing out of credit; avoid 4 now, b cautious $$ Feb 19, 2013
  • Finra bond warning a real worrier http://t.co/E0Y5rI0x Dog bites man. Many have predicted long rates would rise & they haven’t (so far) $$ Feb 18, 2013
  • Debt Bubble Born of Easy Cash Prompts Swedish Rule Review http://t.co/BAuPbVVc $$ policy should not be used 2 stimulate; 2 much debt kills Feb 18, 2013
  • Super-prime?s invisible driver http://t.co/lrHsHjya Would u rather hold govt bonds or prime property? Which will lose less? @izakaminska $$ Feb 18, 2013

 

US Politics

 

  • Obama?s Deficit Commission Leaders Offer New Debt Plan http://t.co/SPlLstx0 50% cuts, 25% adjustments 2 Medicare, 25% close tax loopholes $$ Feb 19, 2013
  • How to Fix Too Big to Fail Without Taxpayer Bailouts: Rep. Campbell?s Plan http://t.co/7YGLejaK Plan is reasonable; receivership4BK banks $$ Feb 19, 2013
  • Pentagon Budget Stuck in Last Century as Warfare Changes http://t.co/1Qqn5sGP More smaller weapons, lower tech, fewer ppl, more skill&mobile Feb 19, 2013
  • All-the-Right-Skills Immigrants Ride US Hiring Wave: Economy http://t.co/YQ5wMqxB Note many in US have those skills & get screened out $$ Feb 19, 2013
  • Obama Golf With Woods in Florida Risks Muddling Message http://t.co/DPX5du27 Give Obama a break; he deserves a little fun too $$ Feb 19, 2013
  • Fiscal trouble ahead for most future retirees http://t.co/tEMoFpdy I predicted 20 yrs ago: Many Baby Boomers won’t b able 2 retire $$ Feb 18, 2013

 

Market Impact

 

  • Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires http://t.co/KZINU1G9 After all that Paulson lost $$ rendering no tax savings Feb 19, 2013
  • Performance Tops Pedigree in Money Managers? Fortunes http://t.co/LUMTpchB Story of two $$ mgrs & how performance drove their stock prices. Feb 17, 2013
  • Upside: Why Most Value Investors Will Burn Out http://t.co/BMicKXex You have to be willing to look like an idiot & be patient 2b rewarded $$ Feb 16, 2013
  • Confidence on Upswing, Mergers Make Comeback http://t.co/lzg5cJ7y 2 early 2 say. Profit margins r2 high & interest rates 2 low; unstable $$ Feb 16, 2013

Wrong

  • Wrong: Let?s Downgrade S&P, Moody?s Ratings Oligopoly http://t.co/tbh1eBIH Writer does not understand the needs of regulators or bond buyers Feb 19, 2013
  • Wrong: Swelling US Labor Force Keeps Fed at Ease http://t.co/V6vKs01q Every statistic I c on labor force participation says otherwise $$ Feb 19, 2013

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Replies & Retweets

  • @TheStalwart Hey Joseph, thou hardest working guy on Wall Street, Congrats on your promotion at BI — it is well-deserved Feb 21, 2013
  • If I were long $HNZ now, I would sell; likely there is no better deal coming along, & upside is only 0.5% $$ http://t.co/TiCHLQm7GK Feb 20, 2013
  • “Johnson will report to 3G; they have all of the incentives to cut costs and recognize synergies?” ? David_Merkel http://t.co/38KbUtiq $$ Feb 19, 2013
  • SEC EDGAR seems to be down, at least the search function isn’t working… Feb 19, 2013
  • @TheStalwart pick a medium-nice suburb of Rome. I grew up in the county of Waukesha, WI, FWIW. Feb 19, 2013
  • “These aren’t bargains; buying them @ these prices assumes they grow rapidly for the next 5 years.” ? David_Merkel http://t.co/nq2fSMXe $$ Feb 19, 2013
  • ‘ @groditi Yes, reviewing it tonight. Agree about conviction; book’s only drawback is that if you get his emails, not much new $$ Feb 19, 2013
  • “When I analyze mutual funds, I look at active share and process — are they doing it right? Do?” ? David_Merkel http://t.co/uZ8g1Exi $$ Feb 19, 2013
  • Illegal, you used “US postal service” & “innovate” in the same sentence $$ RT @ReformedBroker: CAN THE US POSTAL SERVICE STILL INNOVATE? Feb 18, 2013

 

FWIW

 

  • My week on twitter: 34 retweets received, 3 new listings, 49 new followers, 39 mentions. Via: http://t.co/cPSEMLXpb8 Feb 21, 2013

 

Sorted Weekly Tweets

Sorted Weekly Tweets

Posted on by David Merkel

Rest of the World

 

  • IMF: Canada could make case for more interest rate cuts http://t.co/Zd3zmMUH IMF peddles snake oil2Canada, lower rates would b a disaster $$ Feb 15, 2013
  • Why Venezuela’s Devaluation Is Biting http://t.co/LL54JRZ8 Corporations operating in Venezuela get hit b/c there is no good way 2 hedge $$ Feb 15, 2013
  • Soros Aide Wins Kudos for Japan Bets http://t.co/DoaYtYMJ Scott Bessent has his own investing ideas, freeing his boss 2 peddle bad ideas $$ Feb 15, 2013
  • Euro-Zone Economy Plunges http://t.co/JEQVfGep Eventually Germany is going to have to accept that debts they r owed must be written down $$ Feb 14, 2013
  • Tensions Mount as China Snatches Farms for Homes http://t.co/a8aIqqxR Only backward countries like China prohibit ownership of land $$ Feb 14, 2013
  • China’s Internet ‘Wall’ Hits Business http://t.co/Kh7zDD0E The Great Firewall of China hinders commerce. Also, harder to get VPNs now $$ Feb 14, 2013
  • No Shirakawa Eulogies as JGBs Look Beyond Weak BOJ http://t.co/9orwutaY The BOJ is still sterilizing, but they r buying long-dated JGBs $$ Feb 13, 2013
  • Japan Needs Weaker Yen; US Has No Right to Complain http://t.co/OG5tcNFS At least *someone* has2test resolve of US “Strong Dollar Policy” $$ Feb 13, 2013
  • Panasonic CEO Attacks Sprawl in Bid for Profit: Tech http://t.co/bfsbdZLO $PC is a tough turnaround, but maybe this guy could do it. $$ Feb 13, 2013
  • Irish Town Lives Up to Motto Amid Horse-Meat Scandal http://t.co/cMIQRtUd ?Be at the center,? is the motto of the Irish town of Ballybay. $$ Feb 13, 2013
  • G7 Nations Attempt to Avoid Currency War http://t.co/CJjCgjzr G-7 Roils Currency Markets With Split on Concern Over Yen http://t.co/xH2ro4tk Feb 13, 2013
  • The problems with Petrobras http://t.co/pgibXCf5 Rapid growth & large investment plans rarely work well; good growth is incremental $$ Feb 12, 2013
  • USD-JPY: False Start? http://t.co/kVWnFDH6 The Japanese r changing the currency game; the sterilization is gone. What central bank next? $$ Feb 12, 2013
  • Chinese Workers?in Greenland? – Businessweek http://t.co/nmzjpHaP China moves 2 monopolize rare earth metals, maybe, now mining Greenland $$ Feb 11, 2013
  • Canadian Mega Housing Bubble Part 2 – Impact on Canadian Economy http://t.co/WbS22E3Z On the bright side, Canadian Gov’t not overindebted $$ Feb 11, 2013
  • Canada is not immune of a global slowdown http://t.co/NDCdMHOY slower global economy -> slower increase in demand 4 crude oil $$ Feb 11, 2013
  • Chavez Risks Backlash as Venezuelan Deficit Prompts Devaluation http://t.co/V5RLwpMW Squanders well-being of nation for personal goals $$ Feb 09, 2013
  • An Insider’s Guide to Counterfeiting Wine – Businessweek http://t.co/SoVp0OrF 3 ways to counterfeit expensive wines & how to avoid them $$ Feb 09, 2013
  • Most Australian Wine Exports Ship in Giant Plastic Bladders http://t.co/jL1S9KLF ?We don?t ship glass around the world, we ship wine.? $$ Feb 09, 2013

US Politics

 

  • State Exchange Buildout Shifts Into High Gear http://t.co/mwSFxe9e When history deals w/what destroyed healthcare, will b a pic of Obama $$ Feb 15, 2013
  • James Bovard: Perform Criminal Background Checks at Your Peril http://t.co/y8kZYsq4 Another reason why most jobs aren’t advertised $$ Feb 15, 2013
  • A Chinese Hacker’s Identity Unmasked http://t.co/5BE5XgKe Details the means by which a significant Chinese hacker was exposed. $$ Feb 15, 2013
  • Republicans See Obama Second-Term Agenda as Dead in Water http://t.co/uR4sUMjI Worked in 2011-2012, will work in 2013-2014 $$ #justsayno Feb 14, 2013
  • Public Expenditures Austerity and SP500 addicted to QE http://t.co/TzTzL9VL We need to have a debate over whether QE helps real economy $$ Feb 14, 2013
  • How Not to Run a Pension http://t.co/MwNhzEdd John Mauldin on pensions mess we r in federal, state, & municipal. Blue states worst off $$ Feb 14, 2013
  • Central Banks Gone Wild: What Can Investors Do? http://t.co/wzL2xadd Gold, stocks, & the currency of the one that loosened last w/ a lag $$ Feb 13, 2013
  • Obama S&P Case Started When Toxic Debt Masqueraded as AAA http://t.co/V9umvcfN S&P shuld show how little $$ was lost on AAA securitized debt Feb 12, 2013
  • US Economy – Growth Still coming from Borrowing? http://t.co/MTRiKYNi Yes, a lot of current consumption stems from more consumer debt $$ Feb 12, 2013
  • Corn growers get two-thirds of record US crop insurance payout http://t.co/2D1wWc0E Farm lobby swilling @ trough, subsidies not needed $$ Feb 12, 2013
  • Central banking and bubbles: Scott Sumner is wrong | The Economist http://t.co/wDTZzEQ6 It’s not hard to measure total debt / GDP ratio $$ Feb 11, 2013
  • Biofuel Scandal Pushes Trading Firm Into Bankruptcy http://t.co/uETQyx0D firm accidentally sold $9 million worth of fake biofuel credits $$ Feb 11, 2013
  • Should the Fed pop bubbles by raising interest rates? http://t.co/IhKnbA80 Fed should avoid creating bubbles in the first place $$ Feb 11, 2013
  • Bipartisan Letter Seeks Answers on Open-Government Failures http://t.co/shFKY7PB Many people voted for change & got Bush-plus in return $$ Feb 09, 2013

 

Berkshire Hathaway & Heinz

 

  • Shopping Spree for Wall Street http://t.co/QNfGJ14E Premature I think. Yesterday was big4 M&A, but it could just b a fluke $$ $HNZ $AMR $LCC Feb 15, 2013
  • First Bud, Now Heinz, Brazilian Deal Maker Lemann Grabs Brands http://t.co/CxWLqjPH A glimpse at the guys *really* behind the $HNZ deal $$ Feb 15, 2013
  • Buffett?s Buffet: An All-American Meal at Warren?s Table http://t.co/WyjedMKb Can get a complete high-calorie meal at Warren’s restaurant $$ Feb 15, 2013
  • Three Billionaires Join Buffett for Heinz Deal http://t.co/avb4QtVb Meet real guys behind the $HNZ deal; Buffett is riding on their bus $$ Feb 14, 2013

 

Other

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  • Pope?s Culture Club Masks Conclave Packed With Benedict?s Clones http://t.co/0cv1g1T0 1st article I’ve seen that gets it. No major change $$ Feb 15, 2013
  • Home Schooling & working from home has odd fun moments like my 16yo asking, “Why is the NE legislature unicameral?” http://t.co/CefD1i4p $$ Feb 13, 2013
  • Uncork the Nose’s Secret Powers http://t.co/jKTvg3Ki There is an element of “use it or lose it” 4 ability to smell as we age $$ Feb 13, 2013
  • LightSquared?s Ghost Raised in Fight Over Talking Cars http://t.co/CGuxCIvh Maybe the Defense Dept could free up some spectrum it hoards $$ Feb 12, 2013
  • The World’s Top 10 Most Innovative Companies in Finance http://t.co/pzqzRJUr Mostly credit/transaction facilitators, some risk mgmt $$ Feb 12, 2013
  • Skin in Which Game? http://t.co/UV18ORq0 If I was going into an intellectual fight, I would bring @EpicureanDeal w/me rather than @nntaleb Feb 11, 2013
  • Blizzard Dumps Snow in Northeast, Knocks Out Power http://t.co/nji84Ub0 My sympathies. Remember 3 years ago getting 2 of those in a row $$ Feb 09, 2013
  • Are Polar Bears Really Disappearing? http://t.co/5Epxg666 Probably not, population is bigger than in 1965, but small than in 1990 $$ Feb 09, 2013
  • A ‘Bucket List’ for Better Diversification http://t.co/XqjjhklO from @jasonzweigwsj | Good strategy, similar to the Permanent Portfolio Feb 09, 2013

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Companies

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  • Cisco Won’t Spend Money In The US Until The Tax Code Is Changed http://t.co/mbB7Dwk3 Logical outcome of poorly designed corp tax policy $$ Feb 15, 2013
  • Buffett does all he can to make his 13F hard to drag into Excel $$ $BRK.B Feb 15, 2013
  • As I go through 13F filings, it’s interesting to see industry concentrations. Some like retail, others financials, tech, energy etc $$ Feb 15, 2013
  • Dodge & Cox http://t.co/zJzIEISU Maybe it shouldn’t make me feel better when I see a manager I like owning shares that I do, but it does $$ Feb 14, 2013
  • P&G Finds a ?Goldmine? in Analytics http://t.co/y0mnK8kH All large consumer businesses will realize detailed consumer knowledge is key $$ Feb 13, 2013
  • $AAPL at Cheapest Since 2000 Signals Buy to Gamco, Thornburg http://t.co/rllHxys5 Not simple; Big companies need bigger markets 2 grow $$ Feb 13, 2013
  • $FLEX raises $1B as a junk grade company for 7 & 10 years @ 4 5/8% & 5% & raises financial flexibility http://t.co/hOuCNEP7 FD: + $FLEX Feb 13, 2013
  • Assurant Gains as Fannie Mae Force-Placed Plan Stalls http://t.co/ELDqXD5O $AIZ soldiers on, w/rate decreases, but with a strong business $$ Feb 13, 2013

 

Market Impact

 

  • We still have renters to thank for healthier housing market http://t.co/apBD0gHD Which means 2many properties r in the hands of investors $$ Feb 15, 2013
  • Do Junk Bonds Still Live in the Best of Both Worlds? http://t.co/j2w2docJ Demand 4 income is unabated, but there r limits 2 how low yields go Feb 14, 2013
  • SP500 Futures – Warning Signs Flashing RED? http://t.co/4gDyn3Ap Compendium of a lot of bearish reasoning, FWIW $$ Feb 13, 2013
  • Bridgewater Bets on Stocks as Cash Moves Into Market http://t.co/GZTePjCz Dalio bets on reflation amid central banks fanning the flames $$ Feb 12, 2013
  • How banks could get blown away by bond bubble http://t.co/xVpBFWmH A bond market in rebellion could deliver a lot of MTM losses 2 banks $$ Feb 12, 2013
  • The Fed?s tricky QE3 escape http://t.co/mcQadLoh There is no escape; when bond market turns on the Fed, vacuous policies will b exposed $$ Feb 12, 2013
  • US High Yield Bonds: $HYG Disconnect with $SPY http://t.co/r0t4DASq S&P 500 strong while junk is weakening. Could b toxic for stocks $$ Feb 12, 2013
  • To Drown in OIL http://t.co/xVJlIwZj Cushing inventories are at records, even w/the Seaway Pipeline pumping crude to Houston $$ Feb 12, 2013
  • SP500 Futures- More Warning Signs? http://t.co/Uc9LNqQB Too much bullishness, credit feeling soggy $$ $SPY Feb 12, 2013
  • Buyout-Boom Shakeout Seen Leaving One in Four to Starve http://t.co/wPcBuebk Always best to invest when capital is scarce, not in glut $$ Feb 12, 2013
  • How Should an Investor Decide Whether to Dump a Mutual Fund That Has Been Doing Poorly? http://t.co/9c7lY4yI 12 opinions, mostly indexing $$ Feb 12, 2013
  • Nasdaq Talked With Carlyle About Going Private: Sources http://t.co/LoFBgXH3 Cheap $$ looking 4a home; question boils down 2 price $NSDQ $CG Feb 12, 2013
  • Why These 4 Refinery Stocks Boast Bolting RS Lines http://t.co/jlb6luXS Will have to sell a refiner soon; momo crowd creating overshoot $$ Feb 12, 2013
  • Dell Defends Deal: ?Offers an Attractive and Immediate Premium’ http://t.co/xrSaBCRs Objectors wud b convincing if they bot aggressively $$ Feb 11, 2013
  • The Dell Deal Is a Steal That May Die http://t.co/sVQj7aoe What amuses me is that largest complainer has been selling even as low as $10 $$ Feb 09, 2013

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Wrong

  • Wrong: Buffett Cash Targets General Mills to Grainger http://t.co/TybErutX Many do articles like this; none of them ever prove correct $$ Feb 15, 2013
  • Wrong: Congress Starts Examining Changes to Charitable Tax Break http://t.co/cLSOeDUU There r much better ways to raise taxes or simplify $$ Feb 14, 2013
  • Wrong: Plans to Expand Preschool Unveiled http://t.co/VWDcxkAE It is better educationally to have young children @ home most of the time $$ Feb 14, 2013
  • Wrong: Wall Street Fading as Emerging-Market Banks Gain Share http://t.co/NLoYMLNy Too soon, the EM banks r immature w/risk control $$ Feb 12, 2013
  • Wrong: Next Pope to Face Calls for Renewal After Benedict Resisted http://t.co/LNQ30x5Q American media does not understand the Vatican $$ Feb 12, 2013
  • Wrong: An Aging Population May Be What the World Needs http://t.co/RBjuVRce Economies do not work well when # of workers shrinks $$ Feb 11, 2013

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Replies and Retweets

  • .@joshuademasi Come on in it’s around the back, just a half a mile from the railroad track. U can get anything u want @ Warren’s restaurant Feb 15, 2013
  • @michellemalkin For the most part, I don’t tweet to engage; I use it to inform. Used 2do news blog posts, now I tweet good stuff 2 read $$ Feb 15, 2013
  • @richriker EDGAR is free. There are some pay services that make it simpler to get 13F data, or other data filed w/the SEC Feb 15, 2013
  • ‘ @richriker Depends what you mean. They are all available at EDGAR http://t.co/PjUFyetg I have the pgs for 77 mgrs bookmarked $$ Feb 15, 2013
  • @Nonrelatedsense They did, as did Legg Mason, Third Avenue & others that thought value investing was “buy it cheap,” not safety Feb 14, 2013
  • @PlanMaestro Thanks, btw, I like your new logo — cool Feb 14, 2013
  • @researchpuzzler Thanks for showing that to me; I expect most actuaries will yawn at it; academics doing theory when current methods work $$ Feb 14, 2013
  • Shocking revelation RT @EddyElfenbein: “I?m aggressive and annoying” – Paul Krugman http://t.co/9r8z51ke Feb 13, 2013
  • Bank shills $$ RT @davidmwessel: All 12 Fed bank presidents write FSOC asking for tougher rules on money market funds. http://t.co/0XhI4WXs Feb 12, 2013
  • U know it RT @historysquared: “TREASURY SECRETARY NOMINEE LEW:Says He Will Maintain a Strong Dollar Policy if Confirmed.” – do they all lie? Feb 13, 2013
  • ‘ @GaelicTorus I’m only human. Herod forgot that. http://t.co/iixVdgAN I haven’t. Thanks for the praise, though. Feb 13, 2013
  • I just left a comment in “Warren Buffett turns his eye to annuities – MarketWatch” http://t.co/kz7S0yVP Feb 13, 2013
  • On the tweet two previous: long $AIZ . one of the best insurance companies I have known Feb 13, 2013
  • @JamesMarsh79 My view is inbetween. There r regularities, but w/a lot of noise around them Feb 12, 2013
  • Dalio is like Gross, he plans intermediate term but adjusts frequently $$ RT @jckhewitt: Whatever happened to that beautiful deleveraging? Feb 12, 2013
  • @MarshallFraser I don’t disagree w/crop ins., just the subsidy most of which makes it into the pockets of Big Ag & insurers, not familyfarms Feb 12, 2013
  • $JNK & $RUT diverge significantly, uh oh $$ RT @DougKass: One of the scariest charts extant http://t.co/WeLlmyhu (Hat tip Divine Ms M!) Feb 12, 2013
  • “I was skeptical of Apple, but I only mentioned it in tweets, so I can’t take much credit?” ? David_Merkel http://t.co/L6p8D5Ic $AAPL $$ Feb 12, 2013
  • @joshuademasi Also, that every tightening cycle over the last 30 years ending with something blowing up; Fed rides to the rescue 2 soon $$ Feb 11, 2013
  • @joshuademasi I know that, but the ultimate proof over the last 30 years was the massive accumulation of debts from their ez $$ policy Feb 11, 2013
  • @ScottGalupo Totally disagree. BBA has been needed 4 40 years, and would have limited damage done in the present crisis. Debt is the problem Feb 10, 2013
  • @zringer21 Responded — hope you like it. Feb 10, 2013
  • @jasonzweigwsj I really admire your views, as you may surmise from my comments. Here is my piece on the topic: http://t.co/yPpCBfOM $$ Feb 10, 2013
  • @jasonzweigwsj I have written about this: http://t.co/yPpCBfOM Few want to follow sound ideas. Problem: If everyone did this gold wud soar Feb 10, 2013
  • @cate_long I am conservative in most ways, but Peter Wallison makes me nervous; I don’t usually trust his reasoning. Not enough real thought Feb 09, 2013
  • RT @EmanuelDerman: The EMH was economic jiu-jitsu to turn weakness into strength. “I can’t figure out how things work, so I’ll make that … Feb 09, 2013

 

FWIW

  • My week on twitter: 48 retweets received, 2 new listings, 74 new followers, 58 mentions. Via: http://t.co/SPrAWil0 Feb 14, 2013

 

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