Market Dynamics

• Gold, backwardation and the ?time cost of money? http://t.co/AauT82dWoE Many players want 2 make $$ off gold financing but conditions shift May 04, 2013
• The sultans of swing http://t.co/rItrBNwPej Short vol pays income & loses in bad times, long vol loses income & wins in bad times $$ May 04, 2013
• Public Pensions Underreporting Liabilities?? http://t.co/IdEnrkdcXc Milliman is incented 2 make things look good, or they would lose biz $$ May 03, 2013
• It?s Time to Fight the Fed http://t.co/rAnFWIwctu Makes the case that stock market has decoupled from economic reality $$ cc @MicroFundy May 03, 2013
• JPMorgan Caught in Swirl of Regulatory Woes http://t.co/RFuywRTw0s When finance gets complex there r many opportunities 4 mischief $$ $JPM May 03, 2013
• Why is Doug Kass bearish on Buffett?s Berkshire? http://t.co/aCQVRoxEzv My challenge is2ask original questions that have never been asked $$ May 02, 2013
• High-Speed Traders Exploit Loophole http://t.co/aMdRBW72x3 Y can’t the same data feed be provided to all participants? $$ May 02, 2013
• Treasury Is Readying Floating-Rate Debt http://t.co/d2ybajZWWO First new Treasury debt product in years. Wonder what the index will be… $$ May 02, 2013
• Don’t get me wrong, QE is bad policy. Rather than having a short sharp recession that clears the way 4 growth, Fed traps us in malaise $$ May 02, 2013
• When Defensive Stocks Plays Offense http://t.co/aF6MIrTzyQ @ReformedBroker describes effect of $$ flowing in2 low vol stocks, erasing safety May 01, 2013
• Gold Rush From Dubai2Turkey Saps Supply as Premiums Jump http://t.co/2I3a2B5npH True in the US too: http://t.co/AmkUqn639p $$ #takedelivery May 01, 2013
• Canadian banks r largely shielded from effects of housing downturn b/c government-owned Canada Mtge & Housing insures 64% Canadian mtges $$ May 01, 2013
• Meet the man who’s selling Canada short http://t.co/HqStfr9CCe Shorting bank common stocks, & the Loonie. Market prices / rent – high $$ May 01, 2013
• My Edge and the Crossroads http://t.co/KfcVQUCCjc @ReformedBroker gives us a glimpse of how he synthesizes disparate market data $$ May 01, 2013
• The Great Gold Debate Continues, And It’s Serious http://t.co/Xwtar2rlWE As central banks debase fiat $$ ,gold standard gets more attention Apr 29, 2013
• Big Number: Revenues Missing a ‘Beat’ http://t.co/IwTCtzSUZS Only 44% of companies have beaten revenue estimates, rally could slow down $$ Apr 29, 2013
• Gold Climbs as Higher Physical Demand Counters Decline From ETPs http://t.co/2c6WAxC5Yn Negative real cost of carry favors gold here $$ $GLD Apr 29, 2013
• Gold Bears Defy Rally as Goldman Closes Short Wager http://t.co/WRNWV4MayC Demand 4 physical gold continues while ETPs c outflows $$ $GLD Apr 29, 2013
• Market?s $20T Yielding 1% Shows Austerity Mistaken http://t.co/NnEbi5SshB Monetary policy papering over budget deficits aids stagnation $$ Apr 29, 2013
• Stock Analysts Tell All! http://t.co/I4ixQlTBeU Follow the $$ | C how analyst comp affects their actions; hedge funds matter, retail doesn’t Apr 29, 2013
• The Mind of Jeffrey Gundlach http://t.co/aLmhR5gEuB @eddyelfenbein takes us on a brief tour of how Gundlach came 2b a clever contrarian $$ Apr 29, 2013
• Oil demand at lowest level since Oct http://t.co/X6qhQnYOS8 More signs of global sogginess $$ Apr 29, 2013
• When Safe Havens Become Bubbles In Disguise http://t.co/XTPtp4jgGa Good article if you view the investing alternatives @ end skeptically $$ Apr 29, 2013
• Gold Rout for Central Banks Buying Most Since 1964 http://t.co/Zzkd0slUS8 Gold overshot, but negative real cost of carry favors a rise $$ Apr 28, 2013
• Bank-Loan Funds Pose New Risks http://t.co/V0F6rX4TSV This is a minor mania — expected future returns are low to negative. Avoid. Avoid $$ Apr 27, 2013

Other

• Cicadas, the Wedding Crashers Who Can Jitterbug http://t.co/jcnOqeJeY0 Will b going2an outdoor wedding in late May, should be a scream $$ 😉 May 03, 2013
• Note, Shodan can be used positively 2 identify security flaws in your own systems 😉 $$ http://t.co/PmMo1IWcrp May 03, 2013
• SHODAN – Computer Search Engine http://t.co/5stvEHa6Js Why be the last person on your block w/o ability to unprotected computer networks? $$ May 03, 2013
• NO PIZZA FOR YOU!!! http://t.co/6BxRJtamn2 Mayor Bloomberg runs into his “Personal Slice Limit,” & has to go to another pizza purveyor $$ May 03, 2013
• 5 Twitter tools to Unfollow Inactive Users http://t.co/o467OjGtgA Interesting utilities cc: @carney @reformedbroker $$ May 02, 2013
• Billionaires Flee Havens as Trillions Pursued Offshore http://t.co/Lbmk1sofQC Politicians interested protecting tax havens 4 their owners $$ Apr 29, 2013
• Run or walk: Why science hasn?t determined which exercise is best http://t.co/nFB6BgCPzf Equal expending of calories -> similar results $$ Apr 29, 2013
• Texas Town?s Blast Crater Shows Risk From Patchwork Zoning Laws http://t.co/LHYMiBq3l7 Necessary dirty industry has 2 go somewhere $$ Apr 28, 2013
• Can You Get a Refund From a Bad Hedge Fund? http://t.co/VO3AsaooVO If your hedge fund has lost $$, u may be able 2 rescind your purchase Apr 28, 2013
• Are Bachelor’s Degrees Worth It? http://t.co/AxAWgZmWge Bachelor’s degrees may not b worth it, but community college can bring a return $$ Apr 28, 2013

Rest of the World

• Too-Big-to-Fail Danish Banks Seek Bailout Text in Sifi Law http://t.co/jRJigpfsW1 Overleveraged housing sector & banks challenge Denmark $$ May 03, 2013
• Chinese Way of Doing Business – In Cash We Trust http://t.co/pGEcUDgMTa More corrupt ur nation is, the more u want 2do cash transactions $$ May 02, 2013
• Denmark Exhausts Stimulus Avenues as Housing Losses Persist http://t.co/MjtLztxIeg Denmark is the poster child 4 mtge excess, then Canada $$ May 02, 2013
• Japan household spending surges as Abenomics gains momentum http://t.co/9wehqDMxde Inflation genie comes out of the bottle, what next? $$ May 01, 2013
• Where the Chinese credit is going? http://t.co/lYHxHMCNeZ “financial distress is another reason why credit expansion has not worked well” $$ May 01, 2013
• Why the China Dream Might Be a Mirage http://t.co/hO4YupHbJl Economic change w/o political change will not work much longer in China $$ Apr 30, 2013
• Factories to face headwinds from enlarged TPP http://t.co/dbPXgxlqzr Chinese businesses build factories elsewhere 4 cheap labor $$ #surprise Apr 29, 2013
• European Leaders? Softening on Austerity May Accelerate http://t.co/VnLL4Npykr Ending austerity is one thing; sharing losses is another $$ Apr 29, 2013
• Silvercrest’s Patrick Chovanec http://t.co/H2RgxU16Kq Excellent interview w/ @prchovanec on the difficulties w/old Chinese growth model $$ Apr 29, 2013
• Japan’s ‘wall of money’ proves elusive for global markets http://t.co/l9d8RVnqks So far, most of the credit inflation recycled in Japan $$ Apr 29, 2013
• The hole the mutual fund industry has dug for itself http://t.co/MEYDxqJgy5 Huge mutual fund fees in Canada shortchange investors $$ #Wow Apr 29, 2013
• Europe: Aging deepens debt-laden region?s economic woes http://t.co/jWqDYPaDSO Economic growth relies on a population not shrinking $$ Apr 29, 2013
• Danes as Most-Indebted in World Resist Credit http://t.co/PPfvdn12tT Denmark is the poster child 4 what happens w/2 much mortgage debt $$ Apr 29, 2013
• Japan’s Abenomics New Export By-Product: Deflation! http://t.co/0YMovyM2Br Growth does not come as more reserves build up in the banks $$ Apr 29, 2013
• Japan’s Yen Unintended Consequences – Fukushima and the Yen – Hara-Kiri http://t.co/TRqa9gjIUs Higher fuel costs begin 2 bite in Japan $$ Apr 29, 2013
• Europeans Are Thinking the Unthinkable: That Debt Defaults Might Make Sense http://t.co/BQdfWoGknw Only if u can stiff foreign creditors $$ Apr 29, 2013

Companies & Industries

• Buffett Bets on Business Insurance ?Big Time? http://t.co/tlcMeszcWJ Rounding out underwriting book; more conservative version of $AIG $$ May 03, 2013
• Quite a first day of trading for CST Brands, Inc. Common Stock Finance http://t.co/nFzrkovLWN Spun off from Valero | FD: + $CST & $VLO $$ May 02, 2013

?? Endurance Reports First Quarter 2013 Financial Results http://t.co/VC4x9cUQBh I have never seen an earnings beat this big b4 | FD: long $ENH May 01, 2013

• How Wall Street Defanged Dodd-Frank http://t.co/FzgwKpOvBh Long, worth a read, describes financial industry’s strategy 2 kill Dodd-Frank $$ May 01, 2013
• I don’t like D-F b/c it’s weak in areas that matter, & strong in areas that don’t matter. &, study committees shouldn’t have lotsa power $$ May 01, 2013
• I was serious on that last comment. Actuaries serve as honest, semi-neutral advisors to the regulators, & have a significant ethics code $$ May 01, 2013
• That makes insurance regulation significantly more brainy than banking regulation. Also tougher, b/c harder 2 co-opt 50 state regulators $$ May 01, 2013
• New Ajit Jain Signals in the Berkshire Hathaway Tea Leaves http://t.co/k5sikoCKGM Is Ajit preparing 2b CEO or retire? FD: long $BRK/B $$ Apr 29, 2013
• Apple doesn’t deserve top credit rating: Fitch http://t.co/ardXsKVuoB Problem is that the $$ is overseas & the debts r in the US $AAPL Apr 29, 2013
• Tech Stocks Are Cheapest in Seven Years http://t.co/InmrCkKmVw Question should b how sustainable revenue streams r in a soggy economy $$ Apr 29, 2013
• States Object to ‘Payday’ Lawsuit Lending http://t.co/ZL7vvCz3GQ This looks like a good market 2 avoid; 2 much risk from legal changes $$ Apr 29, 2013

US Economic Policy

• Deflation, not inflation, could bedevil markets http://t.co/seyOKKmSZV Watch global weakness weigh on the US, also inventory drawdowns $$ May 03, 2013
• US Economy : 6 Critical Indicators of Potential Recession Flashing RED http://t.co/32jNZ3SNrC A stroll through the bearish economic view $$ May 03, 2013
• A possible step towards numerical guidance for QE? http://t.co/fjNXmEMPPk Volume/Clarity of Fed communications doesn’t matter $$ #deadend May 03, 2013
• Fed weighs tighter cap on bank leverage http://t.co/oLiw2XZdqf Maybe adapt well-designed RBC formula life insurance industry uses $$ #noway May 01, 2013
• Obama to Name Congressman Mel Watt to Housing-Finance Post http://t.co/LClhqyLnij This seems like a mistake; Zandi would have been better $$ May 01, 2013
• There Will Be Haircuts http://t.co/uGuDijhW7d @pimco gives 4 ways govt will fleece us: negative real rates, inflation, default, cap ctrls $$ May 01, 2013
• Roubini: Money supplies holding back economy, but run could last 2 years http://t.co/kaoOK1Nd41 Monetary policy is weak in a liquidity trap Apr 30, 2013
• Powerful Union, Upstart Battle Over Shrinking Pie http://t.co/z5N7DME5sT Another sign that unions are a thing of the past. Good riddance $$ Apr 30, 2013
• Ebbing Inflation Means More Easy Money http://t.co/32RIuQeX1f Fed’s new job is 2 push the marginal productivity of capital to zero $$ Apr 29, 2013
• Wall Street is full of ‘crooks,’ Jeffrey Sachs told Philadelphia Fed audience http://t.co/V8LhcyX8qg Evidence would help, many assertions $$ Apr 29, 2013
• US Growth comes Mostly from Inventories http://t.co/WJnRbUGfiJ The current expansion is not robust, IMO will not persist at rates >1.5% $$ Apr 29, 2013
• The Federal Financial Triangle http://t.co/tc8vEvK7QP The Fed, the Treasury, & GSEs have mispriced financial risk -> deeper US deficits $$ Apr 29, 2013
• Are You Ready for the New Investment Tax? http://t.co/yDSIkClF5H Make a lot of many from investments? This tax could surprise u in 2014 $$ Apr 28, 2013

Fixed Income

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• DoubleLine’s Gundlach seeks more risk in new closed-end fund http://t.co/EaBoKhCGCv I like the strategy, wonder when will get 2 crowded $$ Apr 29, 2013
• Fitch US High Yield Default Insight ? March 2013 http://t.co/8KnB3v1uN7 Lots of good data on the stretched junk bond market $$ $HYG $JNK Apr 29, 2013
• Junk Bond Daily Yield Snapshot: 5.289% (Yes, Another Record) http://t.co/1GiDYWac74 Further price gains should b incremental due 2 calls $$ Apr 29, 2013

At the Bloomberg Washington Summit

• Bloomberg Washington Summit http://t.co/t1pgPaRBRg The videos from the event can be found here. 5.5 hours of video #BBwash $$ May 03, 2013
• At the Bloomberg Washington Summit, Part 5 http://t.co/k3a3maTPST Alan Krueger (Chmn Council of Economic Advisers) & Other Stuff #BBwash $$ May 03, 2013
• At the Bloomberg Washington Summit, Part 4 http://t.co/lQVo1drGbc Economics, US Postal Service, Lunch & China #BBwash $$ May 03, 2013
• At the Bloomberg Washington Summit, Part 3 http://t.co/i3KmSxbKmz Infrastructure, Corp Tax Reform, Dodd-Frank, & Garry Gensler $$ #BBwash May 03, 2013
• At the Bloomberg Washington Summit, Part 2 http://t.co/6m43ZgCm8X Unemployment, Healthcare Spending, & the State of the states $$ #BBwash May 03, 2013
• At the Bloomberg Washington Summit, Part 1 http://t.co/Rjgb8zY60u US Budget, Sequester, dysfunctional politics & economics #BBwash $$ May 03, 2013
• Back home from #BBwash, watch for a summary post later tonight at http://t.co/HQR2bRfS06 Thanks 2 @bgov, @BoozAllen, @Visa, @Bloomberg Apr 30, 2013
• Final panel optimistic about tax reform over the next 2 years Prob over 50%. Can’t say I’m that optimistic #BBwash Apr 30, 2013
• John Rogers of the CFA institute asks Q on differential taxation of dividends/interest, of course panel goes 4 ending dbl taxation #BBwash Apr 30, 2013
• Take back my last tweet. Panel agrees on every corporate tax cut, but shies away from anything that might affect their interest #BBwash Apr 30, 2013
• Final Panel at #BBWash on corporate tax reform, the significant disagreements of panelists indicate y reform will b tough Apr 30, 2013
• Last tweet made 2 counter what the VA Governor said about his budget being balanced, along with the rest of the states #BBwash Apr 30, 2013
• States only balance on a cash basis. Various pension, healthcare and other liabilities r not fully funded all states in the Union #BBWash Apr 30, 2013
• VA Gov McDonnell speaking of the US “Don’t you know we are broke?” Then goes on 2 talk about our unfunded public benefit liabilities #BBwash Apr 30, 2013
• VA Governor makes case that sequestration cuts r unfair b/c they disproportionately affect VA. But VA benefited when spending rose #BBwash Apr 30, 2013
• #hello still waiting on sequestration’s effect on Virginia #BBWash Apr 30, 2013
• Waiting 2 get 2 the main topic w/the VA governor on sequestration, interviewer still grilling on perceived conflict of interest #BBwash Apr 30, 2013
• @cate_long Cool, if you were here, I would say “hi.” Instead, I type “hi.” Apr 30, 2013
• Gov McDonnell of VA speaking @ #BBWash about sequestration, Instead, gets grilled by interviewer on perceived conflicts of interest Apr 30, 2013
• @cate_long Are you here at BBWash or watching on television? Apr 30, 2013
• Ravitch says the threat of BK can make all of the parties focus; biggest state risk is confiscatory tax levels, not reduced benefits #BBwash Apr 30, 2013
• Rendell makes case 4 telling truth & shared sacrifice. Ravitch: Muni Bankruptcy is an admission that democracy has failed #BBWash Apr 30, 2013
• RT @cate_long: Rendell “If city goes bankrupt cant borrow again” BBG’s Glasgall “Orange County went bankrupt and can still borrow” #bbwash Apr 30, 2013
• Moderator makes point about the frenzy in the junk muni market, Ravitch says cities & states have no choice but 2 have access 2 mkts #BBWash Apr 30, 2013
• Ed Rendell makes case 4 a single payer health system. Same point can be made for no health insurance, which would lower costs more #BBWash Apr 30, 2013
• Pension & OPEB panel @ #BBwash is making the case that we are in deep trouble, w/little way out Apr 30, 2013
• @cate_long Thanks, useful… Apr 30, 2013
• @cate_long Thanks, just puzzled by the moderators comments on OPEB at this panel at #BBwash Apr 30, 2013
• @cate_long Cate, most corporations don’t reserve OPEB, b/c they can walk away from it, Governments can’t do the same? Apr 30, 2013
• @CescaAntonelli Could be, I think she is the leading candidate as well, but I don’t like her seemingly reflexive dovishness Apr 30, 2013
• Never happened b4 2 VC RT @CescaAntonelli: Yellen has right of first refusal at Fed, Meyer says at @BBGlink #bbwash http://t.co/Qwn6MvlmVP Apr 30, 2013
• Krueger suggests that people have to adjust their definition of fairness. Trouble is there is no fairness, it is all based on trade #BBwash Apr 30, 2013
• @tomkeene brings up corporate tax code given $AAPL bond deal, Krueger says a deal can be done if the base can b broadened #BBWash #notlikely Apr 30, 2013
• Krueger goes on talking about inequality, has few solutions; education is slow if it works, throwing $$ @ it hasn’t worked recently #BBWash Apr 30, 2013
• Krueger spending a lot of time criticizing the sequester, suggests there is a way to do smart cuts. When have we ever done that? #BBWash Apr 30, 2013
• Krueger suggests that fixing infrastructure has the highest payoff. Problem: haven’t *ever* done it, & the budget 2 deep in deficit #BBwash Apr 30, 2013
• Kreuger implies Stockman’s opinions r not worthy of consideration #BBWash Apr 30, 2013
• Delicious food & good conversation @ #BBwash lunch. Sat w/ @tomkeene & @steve_hanke Apr 30, 2013
• @pattersonscott In my opinion, that comes down to misregulation of inv banks & AIG , they should have regulated derivs as if on B/S #bbwash Apr 30, 2013
• @pattersonscott & I argued 4 ring-fencing the derivative counterparties, & let the holding companies fail, but had 2 have mtges fail 1st Apr 30, 2013
• @pattersonscott derivatives did crater some companies taking one side of the mortgage trade, but mortgages had to go bad first Apr 30, 2013
• @pattersonscott for every winner on a derivative, there is a loser. nets to zero — on the original loan there are real loan losses #BBwash Apr 30, 2013
• Appreciate CFTC Chairman Gensler’s sense of humor, even if it burns time… #BBwash Apr 30, 2013
• #BBwash Gensler says that we will move away from Libor. Me: Any benchmark not based on trades will b gamed, as well as those based on trades Apr 30, 2013
• @pattersonscott Some were tied to the mortgages, but the real losses came from the mortgage underwriting, which came first #bbwash Apr 30, 2013
• Utterly mistaken RT @cedwaddell: #BBwash Gary Gensler, chair of CFTC, says 8 million jobs lost since 2008 due to unregulated swaps market Apr 30, 2013
• Gensler traces the crisis to the derivatives markets when it was really due to bad mortgage lending #BBwash #FTL Apr 30, 2013
• @PeterCCook Ask him why derivatives are not regulated like insurance, and require insurable interest #BBwash Apr 30, 2013
• @PeterCCook Ask him why derivatives are not regulated like insurance, and require insurable interest Apr 30, 2013
• RT @cate_long: “I believe that the role of the Post Office is universal service and overnight delivery is part of that” Sen Cardin #bbwash Apr 30, 2013
• USPS CFO thinks there is a long-term solution, needs regulatory changes, allowing delivery of alcohol, etc. wants more independence #BBwash Apr 30, 2013
• CFO of $UPS talks about two scenarios for rises in interest rates: good: improvement in productivity, bad: stagflation #BBwash #duh Apr 30, 2013
• If business were already agreed on tax policy, tax policy would have changed already #BBwash Apr 30, 2013
• Mistaken concept that the business community has 1 clear goal in tax policy, one man’s tax expenditure is more valuable than others #BBwash Apr 30, 2013
• Eclectic panel Sen. Ben Cardin (D-Maryland), Kurt Kuehn, CFO UPS & Joseph Corbett, CFO & EVP, USPS — don’t think this goes far #BBwash Apr 30, 2013
• PA gov Corbett leaves benefits/fees of fracking to local governments where it is needed #BBwash Apr 30, 2013
• Corbett wants to be the “Texas” of Natgas, TX ain’t what it used 2b #BBwash Apr 30, 2013
• 1 in 6 people in PA on Medicaid would b 1 in 4 under Obamacare, according2 Tom Corbett, PA 2nd highest in Medicaid b/c optional covs #BBWash Apr 30, 2013
• @fbonacci @incakolanews @felixsalmon Easy come, easy go, little high, little low… nothing really matters, anyone can see… Apr 30, 2013
• At #BBwash , Tom Corbett talks about selling the state liquor stores, when it barely moves the needle in terms of the NPV of the liabs Apr 30, 2013
• John Rogers of the CFA Institute asks Engle why we should invest in a new bubble created by the Federal Reserve? Engle waffles. #BBWash Apr 30, 2013
• @incakolanews Galileo, Galileo, will you let me go? Apr 30, 2013
• Engle correct in noting that the tea party has made washington a 3-party game, which creates a complex blocked situation #BBWash Apr 30, 2013
• Gotta give Scaramucci credit for getting on this #BBWash panel, he has said some notably odd things Apr 30, 2013
• Federal Reserve less independent since Dodd-Frank, & not in a good way, it supports the US financial sector & government #BBwash Apr 30, 2013
• Pitt: if I were a college professor, I would give Congress an “F” 4 Dodd-Frank #BBWash Apr 30, 2013
• Humorous panel w/Harvey Pitt, Robert Engle, and Anthony Scaramucci — Engle is clueless, thinking Fed policy can b easily removed #BBwash Apr 30, 2013
• Wargaming in economics is impossible; there is no way to predict next economic crisis, writ small. Overlevered systems r risky #BBwash $$ Apr 30, 2013
• Too much discussion over bailing out the system. Too little discussion over how to limit overall debt and debt complexity #BBWash $$ Apr 30, 2013
• Good discussion @ #BBwash where they describe how more complex laws & regulations make markets more complex rather than clear $$ #worse Apr 30, 2013
• Panel on Dodd-Frank arguing about bank capital, arguing that higher capital isn’t so bad. #BBwash $$ That said, liquidity is more important Apr 30, 2013
• Panel on Dodd-Frank arguing about bank capital, arguing that higher capital isn’t so bad. #BBwah $$ That said, liquidity is more important Apr 30, 2013
• Really disappointed in the lack of reasoning from Larry Meyer, not disappointed in Chris van Hollen, nothing to expect there $$ #BBwash Apr 30, 2013
• At the Bloomberg Washington Summit: definitely a liberal bias to first two panels, saying that the current deficits must continue #BBWash $$ Apr 30, 2013

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Wrong

• Wrong: Fed Seen Slowing Stimulus With QE Cut by End of This Year http://t.co/h2ckgPDc3e Sorry, but the Fed will increase its QE in 2013 $$ May 02, 2013
• Wrong: Europe?s New Path: Austerity with a Human Face http://t.co/HXzbWFx2v9 Real austerity hasn’t been tried yet, only debt monetization $$ Apr 29, 2013
• Wrong: ?Peak Fossil Fuels? Is Closer Than You Think: BNEF – Bloomberg http://t.co/XoKYF1qoEW No way; governments of world won’t cooperate $$ Apr 28, 2013
• New York Times Moves Toward Netflix Model as Ads Tumble http://t.co/rHrbxxAe8e I think $NYT is eventually a zero as the internet eats it $$ Apr 28, 2013

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Replies, Retweets & Comments

• 5.5% annualized growth $$ RT @EddyElfenbein: Nominal S&P 500 earnings are expected to be roughly double this year compared with 2000 May 03, 2013
• @EddyElfenbein http://t.co/FvBzLDzuGI On the IBM Industrial Average, where I propose the News Corp Industrial Average May 03, 2013
• @H_X_S Thanks, Janetter looks interesting. May 03, 2013
• Liked the old Tweetdeck better $$ RT @danprimack: Does Twitter know that some of us probably would have paid to keep tweetdeck alive? May 03, 2013
• @AndreCimini It’s all a part of the current “race to the bottom” monetary policy game. Trying to figure out how this one blows up May 03, 2013
• @fsmontenegro Thanks, missed that, relied on a friend May 03, 2013
• ‘ @JayLeonard No doubt, & realize these are marginal rates, which few pay because of the Swiss cheese nature of the corp tax code $$ May 03, 2013
• @alestuma I get that — that’s y some investors co-locate servers at the exchanges. But not getting the same feed initially is different May 02, 2013
• ‘ @WarrenBuffett Good 4u, Mr. Buffett. We all await your wise counsel, especially me, a student of yours & a shareholder. $$ FD: + $BRK.B May 02, 2013
• @TheStalwart I don’t think much happened overnight, but I did publish a five piece set of articles on the Bloomberg Washington Summit May 02, 2013
• @notgunnamatta Yes May 02, 2013
• @dpinsen There r no good solutions in the bust. The only sane thing is to try to prevent booms from getting out of control, a la Martin $$ May 02, 2013
• @CardiffGarcia If I had the data, would be interesting to try a parabolic fit, & look at the coefficients, looks like it would flop May 01, 2013
• @rubicon59 @PlanMaestro @SajKarsan I think I was the only one that did public analyses of the 3 Maiden Lane trusts, but I was wrong there 2 May 01, 2013
• @rubicon59 @PlanMaestro @SajKarsan Yes, I did; I presumed that the really junky assets that they had would default far more than they did May 01, 2013
• Cool $$ RT @jasonzweigwsj: our great Fed-speak comparison machine: see how the FOMC’s statements change over time http://t.co/CubyVqQ6KL May 01, 2013
• @Matthew_C_Klein Next in line r colonialists who exploited Belgium/Congo, Germany/SW Africa, Spanish in the new World, Black Slavery $$ May 01, 2013
• @Matthew_C_Klein Historically, it is fascinating how many attempts at forced collectivization led to massive deaths, Ukraine, Cambodia $$ May 01, 2013
• His rhetoric usually leaves me cold $$ RT @TheStalwart: Some folks asking who, exactly, Krugman has persuaded. Fair question. May 01, 2013
• @Matthew_C_Klein I’ve seen higher estimates on the deaths c book “Hungry Ghosts;” the statistics r hard 2 come by; most don’t want 2 talk $$ May 01, 2013
• “Any anomaly can be overfished. The low volatility anomaly was one of the more durable ones, but?” ? David_Merkel http://t.co/syjdr5nHDU May 01, 2013
• @CFAevents Honored that you would mention me. Thanks. Osband’s book was one of the best I have read on the topic. May 01, 2013
• @djoalpha11 @tomkeene What flash crash? Apr 30, 2013
• @csissoko But most of the issuance of bad mtges were prime, not subprime — the issuance of Fannie & Freddie were more responsible 4 crisis Apr 30, 2013
• @csissoko Yes, the lust for yield drove willingness to enter into CDS, taking risk, receiving premium, which led some issuance of bad mtges Apr 30, 2013
• @Nonrelatedsense I read otherwise in an article yesterday… but thanks for the correction Apr 30, 2013
• Apologies, you are right RT @Nonrelatedsense: @AlephBlog DSL is absolutely a Closed End Fund. Prospectus: http://t.co/vXcUpTEZi9 Apr 30, 2013
• @Nonrelatedsense It’s an ETF, not a CEF Apr 30, 2013
• Also leads 2 creation of more shares, grows the fund $$ RT @vzban123: Per doubline website, IPO price is almost 5% premium to NAV. Apr 29, 2013
• Yeh, saw that. Just another symptom of yield lust. $$ RT @vzban123: @AlephBlog Per doubline website, IPO price is almost 5% premium to NAV Apr 29, 2013
• It’s a great job if you have the skills to get it; it’s even better if you have business skills as well… http://t.co/ji5jgSLPA9 Apr 29, 2013
• @aneiro Any stats on what %age of the market is trading to call, rather than maturity? Apr 29, 2013
• @codywillard I suspect there r a lot of games going on w/ETPs, certainly in Europe, regulation is tighter here, collateral issues & arb Apr 29, 2013
• @codywillard I was against the bailouts dear friend; what I puzzle over is how many games r *presently* being played on Wall Street Apr 29, 2013
• @EddyElfenbein model 2 minimizes the sum of squared ratios between actual & modeled prices. Model 2 more reliable, IMO, though fits worse Apr 29, 2013
• @EddyElfenbein model 1 minimizes the sum of squared differences between actual & modeled prices. Apr 29, 2013
• @Jesse_Livermore Emerging Market Government Bonds, maybe Long Treasuries — it is a deflationary environment, kinda, maybe, sorta, meh $$ Apr 27, 2013

FWIW

• My week on twitter: 47 retweets received, 48 new followers, 89 mentions. Via: http://t.co/cPSEMLXpb8 May 02, 2013

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