Search Results for “we eat dollar” – Page 4

Sorted Weekly Tweets

Posted on 28 December 2013 by David Merkel

Japan

Japan World-Beating Stocks Seen Repeating Gains in 2014 http://t.co/v5QR4nVKd3 Analysts follow trends; they r wrong at turning points $$ Dec 28, 2013
Abenomics Drives Japan Hedge Funds to World?s Top Performers http://t.co/fDmMBWIxgL Let’s c if Japan can survive the increase in debts $$ Dec 28, 2013
Asia: From baby boom to bust http://t.co/eaDLDS3oAL Watch Japan 4a preview of what will happen across all of Asia; it won’t b pretty $$ Dec 28, 2013

China

China Confronts Workforce Drop With Retirement-Age Delay http://t.co/TdsDKG1p5u China gets to the problem very late & way too small $$ $FXI Dec 26, 2013
China is so worried about its cash crunch that it banned the term http://t.co/y0eN3A58iB Worry when central bankers care about language $$ Dec 26, 2013
China Credit Squeeze Eases as Central Bank Resumes Using Regular Cash-Injection Tool http://t.co/D5UNiQuQSv Papers over solvency issues $$ Dec 26, 2013
China’s Pain Points http://t.co/Ry2XaZHYT8 underfunded health&pension systems; environment probs; water shortages; corruption; rigged courts Dec 26, 2013
China Promise Clashes With Clampdown on Foreign Business http://t.co/ycKPAWqGa2 They want the best of both worlds, and can’t get both $$ Dec 26, 2013
PBOC?s Opacity Leaves Markets Guessing Amid Cash Crunch http://t.co/TsgynBHdo6 No guess what PBOC policy will b, makin’ it up as they go $$ Dec 26, 2013
China Cash Crunch Pushes Up Short-Term Rates http://t.co/MgWmHwdQuC The fragility of the Chinese financial system comes into view $$ $FXI Dec 23, 2013
Was 2013 the Year We Lost China? http://t.co/Fmz3RixLW7 It’s difficult 2 say whether we ever “had” China, it pursues its own goals $$ $FXI Dec 23, 2013

PPACA / Obamacare

Obamacare Hits Snag in States as US Site Finds Footing http://t.co/3q1SnLxu59 Surprised that some of the states would do worse than Feds $$ Dec 28, 2013
Obamacare’s Web site Exchange Woes Trace to Cato’s Michael Cannon http://t.co/SDhb9sdATZ One Q is whether the natl exchange can subsidize $$ Dec 26, 2013
What to Do When ObamaCare Unravels http://t.co/w2iNS1HhWd Cute alternative 2 PPACA, but I think it could b even more expensive than PPACA $$ Dec 26, 2013
Rule Change on Health Insurance Rattles Industry http://t.co/Fyntbs0rjS The lowball estimate of what Obamacare would cost comes back2bite $$ Dec 23, 2013
Obama Repeals ObamaCare http://t.co/0RerlzDqA2 It was bad enough under Bush, y does Congress tolerate a president behaving like a king? $$ Dec 23, 2013

Rest of the World

Thai General Refuses to Rule Out Coup as Unrest Drags On http://t.co/PfqhKwIpSD A Thai friend of mine said military is needed in politics $$ Dec 28, 2013
BlackRock Buys Turkey Shares After Turmoil Spooks Markets http://t.co/bbcxmWIXHM $TUR down >26% in 2013 http://t.co/cHkL6E2TUd; $$ Dec 26, 2013
Iranians Pile Into Stocks as Nuclear Deal Spurs 133% Gain http://t.co/mZ7J47vnPp Wall Street getting slow; no $IRAN ETF available yet $$ Dec 26, 2013
Even in Straitened Times, Portugal Loves Its Bimby Cooking Robots http://t.co/j8a732IuKA Y isn’t this sold in the US? It does it all $$ $SPY Dec 26, 2013
Jihadists in Syria Draw Children of Muslims Who Settled in Europe http://t.co/r5suj7cZ6l Romantic youths want their lives 2b more than $$ Dec 26, 2013
UN to nearly double peace-keepers in South Sudan as violence explodes http://t.co/X9Z94O0mXF UN always increases malfeasance, bad 4 all $$ Dec 26, 2013
Ukraine Upheaval Spurred by 28% Rates Limiting Buyers http://t.co/5VFiYvnpRk Capital flees when civil disturbances arise, thus high rates $$ Dec 26, 2013
US Plans to Ask UN for More Troops in Turbulent South Sudan http://t.co/I60iRC1Nmb UN is not a lot of help in situations like this $$ Dec 26, 2013
Swiss Banks Employ Army of Advisers for US Amnesty Plan http://t.co/qRLXTt1JS7 Differing strategies as US exposure & reporting varies $$ Dec 26, 2013
South Sudan Refugees Swell As Americans Are Evacuated http://t.co/Iq2VxuFYNz Throw a bunch of warlords together, call it a govt & u get? $$ Dec 23, 2013
Russia Crisis Haunts Deutsche Bank?s Smith Seeing China Bust http://t.co/nRm4PPTlvA Suspect a China debt crisis would not affect US $$ Dec 23, 2013
Venezuela Devalues Bolivar for Tourist Dollars by 44% http://t.co/rOdpVu4xRd Almost 2 the point where the dollar will replace the bolivar $$ Dec 23, 2013

NSA

Report on NSA ‘secret’ payments to RSA fuels encryption controversy http://t.co/1YTaHu4mfK Put in a backdoor so that NSA could access $$ Dec 28, 2013
Edward Snowden, after months of NSA revelations, says his mission?s accomplished http://t.co/MdMFbSKaYK His life’s work is complete @ 29 $$ Dec 26, 2013
The One Big Question About RSA and Its Relationship With the NSA http://t.co/vR7GCsCa38 RSA builds “backdoor” 4 NSA 2 use, gets secret $$ Dec 26, 2013
NSA Struggles to Make Sense of Flood of Surveillance Data http://t.co/0gjztWYMSM Inside look at how data surveillance got out of control $$ Dec 26, 2013
Finnish Security Researcher Cancels RSA Talk in Protest http://t.co/v0hsM2y548 RSA deliberately built faulty random number generator 4NSA $$ Dec 26, 2013
Snowden Criticizes US Panel Overseeing Surveillance http://t.co/kLI7XmeKlN Panel exists 2whitewash bad behavior of intelgnc establishment $$ Dec 23, 2013

Market Impact

A Fund That Invests Like Buffett http://t.co/u9duSaR9oA I’m impressed; I’m putting their firm on my 13F list to track them quarterly $$ $SPY Dec 28, 2013
Our Outlook for the Stock Market http://t.co/N1IV6w32dj Morningstar gives their relatively bullish view of what 2014 will hold 4 stocks $$ Dec 28, 2013
Muniland?s ?Best of 2013? http://t.co/KhaiAVmjzg @catelong is one of the best on municipal bonds & here is her summary of 2013 $$ $MUB Dec 28, 2013
40% of fund managers surveyed r overweight euro-area equities http://t.co/vPYGQFvagC Bull Calls United in Europe, Strategists C 12% Gain $$ Dec 26, 2013
So, I’m skeptical of the article in the last tweet, unless the managers r long term investors & value players b/c flexible $$ runs in crises Dec 26, 2013
Half & Half: Why Rowing Works http://t.co/h46bRNMLAR A 50-50 mix of stocks & bonds w/rebalancing outperforms 100% stocks in choppy mkts $$ Dec 26, 2013
You Too Can Invest Like Warren Buffett?Maybe http://t.co/FU6MZzsmyj U would have to able to predict moats & not lever up too much $$ #tricky Dec 26, 2013
Investment Strategy Rises From Obscurity http://t.co/O8yIIqjTpZ US Govt loses $7B/yr on MLPs; Article features $IEP $CVR $CVRR $KMP $ETP $$ Dec 26, 2013
Wall Street Landlord Loses Round 1 in Ohio School Tax Fight http://t.co/FgKOrnq283 Maybe school district should pass landlord profits tax $$ Dec 26, 2013
Companies Binge on Share Buybacks http://t.co/JyW5QaRRP4 2% divs +3% buybacks ~5% shareholder yield. Is that enough reward 4 equity risk? $$ Dec 26, 2013
The TSC Streetside Chat: Robert Wilson, Part 2 http://t.co/IzzNlzE776 13 years old but prescient; he died in a suicide yesterday $$ Dec 26, 2013
Financial Scammers Increasingly Target Elderly Americans http://t.co/raIvTr0B9a Tonight’s topic @ Aleph Blog – watch out 4 older friends $$ Dec 26, 2013
How Investigators Untangled the ‘Wolf of Wall Street’ Scandal http://t.co/AJwcx4XONC Penny stocks, overtrading, market manipulation $$ Dec 26, 2013
The Buyback Rally http://t.co/ZkBJsWBpe4 From @eddyelfenbein : 2% dividend yield + 3% buyback yield = 5% total yield on the market $$ Dec 26, 2013
Hunt for Returns Prompts IPO Renaissance as US Leads Way http://t.co/dVURwoYGkn Capital will b deployed unproductively as the rally ends $$ Dec 26, 2013
Secret Handshakes Greet Frat Brothers on Wall Street http://t.co/0t2zWLzL1A Part of what led to the crisis- connections&no smarts $$ $MS $GS Dec 23, 2013
Junk Loans Top ?08 Record as Safeguards Stripped http://t.co/9uZAwYeEaN Amazing how much biz u can do if u just leave aside risk control $$ Dec 23, 2013
The lavish lifestyles of placement agents http://t.co/0NU8cD5yl0 With pension monies, there is almost never a reason to pay commissions $$ Dec 22, 2013

Companies & Industries

Twitter Posts Biggest-Ever Decline After Macquarie Downgrade http://t.co/zopyq0AKeb $TWTR needs 2show real income to validate valuation $$ Dec 28, 2013
Twitter?s Ballooning Market Cap http://t.co/vm1xl8MRwb Every sell is a good sell. At worst, wait for relative strength to shift $TWTR $$ Dec 27, 2013
GM Robo-Glove to Meat Hook Smooth Human-Machine Teamwork http://t.co/G0dbUgbXIc The future of manufacturing: human-robot teams $$ $SPY $TLT Dec 26, 2013
$AMZN Makes Up to Customers After Backup Hits $UPS http://t.co/UUNGKJVJvI It is possible to overload the shipping system; $20 giftcards $$ Dec 26, 2013
Panasonic Debt Goes to First From Worst on Revamp http://t.co/MsBhqKmMee Amazing what can happen when a mgmt team rationalizes businesses $$ Dec 26, 2013
Bug Bites Cut Florida Orange Crop to Lowest in 2 Decades http://t.co/0muOIlUFmI Fortunately Brazil is having a good crop; citrus greening $$ Dec 26, 2013
Reactors on Slow Road to Demolition http://t.co/jd3sbJiMHk Much hangs on creating a long-term site for storing nuclear waste $$ $D $EXC $ETR Dec 26, 2013
Twitter?s Ballooning Market Cap http://t.co/mhik2Xp8Nn The price discounts more than the future, it discounts the hereafter $$ $TWTR $SPY Dec 26, 2013
If Cadillac Keeps Growing Like This, It’ll Be America’s Bestselling Luxury Car http://t.co/YnijUf5SiC We r talking $GM; they will fail $$ Dec 26, 2013
Wind Farms in Maine Stir a Power Struggle http://t.co/lhpmyeD75l I’m sorry, most people know that they don’t own their view, give it up $$ Dec 26, 2013
V.F. Corporation Common Stock Stock Chart http://t.co/5zEipUBEWf; Interesting 2c @Bloomberg & @yahoofinance mess up on $VFC ‘s 4 for 1 split $$ Dec 23, 2013

Financial Sector

Banking Needs a New Regulatory Structure http://t.co/tgx7X4lSrq Rather, end interstate branching, & hand bank regulation back2 the states $$ Dec 28, 2013
Will the Regulatory Screws Loosen in 2014? http://t.co/vxkuqAUCe9 Both sides r dreaming. Neither the regulators or banks r giving up $$ Dec 28, 2013
FDIC Recommendations to Curb Interest Rate Risk http://t.co/uRJw5tTcNS But will they bifurcate repo 2reveal the interest rate risk inside $$ Dec 28, 2013
Examiners-in-Residence Should Be Pulled Out of Megabanks http://t.co/UcrvNoAmzu They will resist pressure better if they work together $$ Dec 26, 2013
How Thomas Curry Is Trying to Redeem the OCC http://t.co/iIbFR7Lqqv U can get a lot done in DC if u don’t care who gets the credit $$ $TLT Dec 26, 2013
Target?s Redcard Proves Less Vulnerable to Data Breach Than Bank Cards http://t.co/GDBN5KHvsK Added security makes the card harder2hack $$ Dec 26, 2013
Angry Bart Takes His Parting Shot http://t.co/Wi5YChLExh How Wall St fights regulation: Direct kill; defund; exemptions; litigate $$ $GS $MS Dec 26, 2013
Why the US Leaves Its Credit-Card System Vulnerable to Fraud http://t.co/QN4egphZ8c Expensive to add more security & change hardware $$ Dec 23, 2013

Politics & Policy

Deaton on US inequality and the Pareto criterion http://t.co/pdhMXzehju Hard to equalize; rich families have more resources 4 their kids $$ Dec 28, 2013
Moguls Rent South Dakota Addresses to Dodge Taxes Forever http://t.co/4IYvqqrr66 Our own tax haven in Black Hills; set up a trust in SD $$ Dec 28, 2013
Government Pulls in Reins On Disability Judges http://t.co/psmXNK7fXZ Disability Trust fund goes bust in 2016, judges urged 2b stricter $$ Dec 28, 2013
Five Lessons of 2013, Guaranteed to Be Forgotten http://t.co/dCXEniOv8U I like # 3. The law of the land is subject to executive action. $$ Dec 26, 2013

Other

The marriage gap: Think again, men http://t.co/T45sDRYDFC People who r single rely on government more, v. married who rely on each other $$ Dec 28, 2013
Two trends I’m watching next year http://t.co/Cx1gKdLaSR Cultural changes may limit HH formation & much capital formation is intangible $$ Dec 28, 2013
Detroit Wins $55M in Concessions From 2 Banks http://t.co/wOEsceACAR Derivatives around munis usually have something crooked w/them $$ $MUB Dec 26, 2013
The LEET Pure PC – A PS4 And Xbox One Killer For Your Entertainment Room http://t.co/3mDBrtTHb0 Pretty cool. Powerful, flexible & stylish $$ Dec 26, 2013
White Chocolate, a Blank Slate for Flavor, Wins Converts http://t.co/WflwRKYYJg A platform to allow other flavors to show their stuff $$ Dec 26, 2013
Colleges Trim Staffing Bloat http://t.co/bRtEMsnfqG Finally the bloat of making college into “country clubs” starts to decline $$ Dec 26, 2013
Most Twitter User Have Few Followers – Study http://t.co/ghZfDqVjUJ U have 2get2 over 2000 followers b4u can b certain that any1 listens $$ Dec 26, 2013
A Pill to Cure Addiction? http://t.co/ORYsOeoNXN “huge amount of progress understanding what drives alcoholism & makes it difficult2stop” $$ Dec 26, 2013
Are Cranberries a Better Way to Long Life? http://t.co/o0YJDa0Uhy The antioxidants in cranberries may prolong your life $$ Dec 26, 2013
Fake Knee Surgery as Good as Real Procedure Study Finds http://t.co/Ucvi50nsqW Result Likely2Fuel Debate Over Common Orthopedic Operation $$ Dec 26, 2013
Study: Eating Nuts in Pregnancy May Lower Child’s Allergy Risk http://t.co/X2IQwj1QfN Something new 4 children 2 blame their mothers over $$ Dec 24, 2013
Almond Spike Hits Germany’s Markets http://t.co/DpEJXxwWir Bad weather in California & Spain & demand in China push prices 2 record highs $$ Dec 23, 2013
Unwanted Memories Erased in Electroconvulsive Therapy Experiment http://t.co/nfo3lDmHDH Great. Another way to remove humanity from people $$ Dec 23, 2013

Wrong, Etc.

Wrong: The Air of Unreality in NSA Reform http://t.co/8psN0iSI1r Being a free country means we have 2 allow 4 possibility of bad events $$ Dec 26, 2013
Disagree:Snowden Says Surveillance Is Worse Than Orwell Envisioned http://t.co/2AEb3tNk0G It may b more pervasive but it is low intensity $$ Dec 26, 2013
Central Error: that inflation & real growth are positively correlated [1970s] http://t.co/yLXk2UnQWu Dec 23, 2013
Wrong: GOP lawmaker: NSA spying in US could have prevented 9/11 http://t.co/cHAnKSOsqY At best, fighting the last war; live free or die $$ Dec 23, 2013

Comments, Retweets & Replies

Commented on The Economist | The 2016 election: Flight of the Huckabees http://t.co/Yh3tym96OO Dec 27, 2013
‘ @SonofGodMovie The 2nd Commandment says it’s wrong to portray God. Your movie makes Jesus a mere man; you can’t portray his divinity $$ Dec 26, 2013
@ReformedBroker Nailed it. Dec 25, 2013
RT @minefornothing: The economy of Cyprus is now also experiencing a major credit crunch http://t.co/uRMUjaUCyf Dec 24, 2013
http://t.co/60MjQwGbNz “It’s the thought that counts, which is worth more than money.” ? David_Merkel http://t.co/Ij9Ttfesye $$ Dec 24, 2013
RT @michaelsantoli: Trust me, in Dec ’87 no one said “Only 1/3 done” RT @CiovaccoCapital: Bull Markets can last a long time – see 82-’00 h? Dec 24, 2013

Lower the Cap Rate, Not

Posted on 24 November 201320 June 2017 by David Merkel

Sometimes I think regulators are in over their heads.? They aren’t talented enough to run a company, but they think they can control the excesses of financial companies.? Then there’s the Fed.? They think they can control an entire economy through the weak policy lever of affecting the views of people have for calculating what interest rates they should use to capitalize the values of assets.

Think of assets as a stream of future cash flows.? But what are those cash flows worth today, to buy or sell them?? The interest rate that makes the price and the cash flows equal is the capitalization rate, or, “cap rate.”

For years, at least in the Greenspan era, lowering the cap rate via Fed funds was the rule when times were weak.? He was the anti-Martin, bringing back the punchbowl rapidly when the party was getting a little dull.? Because of that, the economy grew more aggressively for a time, but at a price of growing unproductive debts.

The Problem

You can lower the interest rates as low as you want, but it doesn’t change the underlying productivity of the economy.? You might push asset or goods prices higher — it depends whether saving or spending is more important.? At present, actions of the Fed push asset prices higher, which doesn’t do much for the economy as a whole.? Rising asset prices do not stimulate the economy much.? Though it would be dishonest to do it, it would stimulate the economy more if Ben would rev up the “Helicopter of Happiness” and rain dollars from “Heaven.”

The Fed created the housing bubble with their policies 2001-2007.? They did that to stimulate the economy.? You can only use strong sectors of the economy to transmit monetary policy, because they can absorb more debt.

That’s true when not in a liquidity trap. We are in such a trap now, given the profligate prior Fed policy.? They did not let recessions destroy bad debts leading to a reduction in the marginal productivity of capital.? That value is so low now, that companies pay higher dividends and buy back shares.? Relatively little goes into growth via new investment.

My point is that monetary policy has some potency if central bankers are willing to inflict pain in the bear phase of the credit cycle.? With Greenspan and Bernanke, that was absent.? As such, we suffer in a liquidity trap, and one that current Fed policy will not remedy.? Far better to raise short-term interest rates and let some bad businesses fail, and grow from there.

Sorted Weekly Tweets

Posted on 23 November 2013 by David Merkel

Market Impact

Banks Consider New Corporate-Bond Trading Network http://t.co/UxLaTmuIgK Maybe volume will pick up w/increased liquidity &reduced spreads $$ Nov 23, 2013
White House snubs Fannie-Freddie plan http://t.co/aq94voAcwa Agree w/Obama here; we need to discourage mortgage debt, delever economy $$ Nov 21, 2013
PIK Bond Offerings Surge http://t.co/xv5m3I4HND Always a bad sign when borrowers can choose not to pay cash to lenders; market is frothy $$ Nov 21, 2013
Americans Recover Home Equity at Record Pace http://t.co/nDDUZvCUYm I wouldn’t b so optimistic; there r2 many investors relative 2 owners $$ Nov 21, 2013
J.P. Morgan Is Haunted by a 2006 Decision on Mortgages http://t.co/niHE3SfMon How underwriting was compromised at $JPM leading2bad mtges $$ Nov 21, 2013
Morgan Stanley Wins as Lynch Pays Up http://t.co/cz0C1GVwpO Remember margin of safety. Great past track record, won’t likely work forever $$ Nov 20, 2013
Why Banks Are Still Wary of Credit Risk Retention Plan http://t.co/bySXEramn4 Maybe do opposite: ban banks from owning securitized assets $$ Nov 20, 2013
Bank, Credit Union Defend Payday Products as Crackdown Looms http://t.co/fqvP7Mkh1J Cheaper version of what exists outside banking $$ Nov 20, 2013
Why Bankers and Regulators See Very Different Future for Giant Banks http://t.co/iTms0Tmpso Hand banking regulation back to the states $$ Nov 20, 2013
Student Loan Market Headed for Crisis, CFPB Warns http://t.co/LQSE1xvC26 Always avoid the debt class that has grown rapidly; losses loom $$ Nov 20, 2013
Buying Low Thwarted by Narrowest Stock Valuation Gap Ever http://t.co/98JOxoyrLK I’m not finding many cheap stocks out there. $$ Nov 19, 2013
Why No Bankers Go to Jail http://t.co/w39LW6RqNm Theory 5: Easier for the government to discipline corporations than prosecute felonies $$ Nov 18, 2013
Inherited Money To Manage? Overcoming Emotion Is Key To Big Returns http://t.co/jYMnOkzokl This is essential to ALL money management $$ Nov 18, 2013

Central Banking

Fed Looks for Other Ways to Aid Economy http://t.co/LhJLzOuY5M You’ve done quite enough thank you. Go 2 the corner & play w/the fed funds $$ Nov 21, 2013
A Limited Central Bank http://t.co/HZfLQIFzMc John Mauldin republishes the notable speech by Charles Plosser at the Cato Institute $$ $SPY Nov 21, 2013
QE:Euthanasia of the economy? http://t.co/Ci8rLiL3E2 Japan & the US r examples; QE can’t revive an overindebted economy. Recession needed $$ Nov 20, 2013
Onions Bring Tears to RBI?s Rajan as Prices Surge http://t.co/8z8TSVBRzv The humble onion can make even a central banker cry $$ #agflation Nov 20, 2013
Junk Glistens Under ?Bernankecare? as Worst Stocks Win http://t.co/JlpofPq5zT Fed encourages the foolish to take more risk at a bad time $$ Nov 20, 2013
Fed Ponders How to Temper Tapering Without Rate Increase http://t.co/fAbD1DeHeU The Fed wants the best of all worlds and at no cost $$ Nov 20, 2013
It?s Fed Versus Moody?s for ?Most Wrong? Crown http://t.co/iGh71xNPXh Fed by a mile here; regulators should disallow unseasoned assets $$ Nov 18, 2013

Bubbles

This Market Is Going Higher, Warns Jeremy Grantham http://t.co/lgb2aLPXM7 Momentum will carry it up until valuations can’t b sustained $$ Nov 20, 2013
Krugman and Summers Want to Keep Finance Fun http://t.co/jvA6oMXhRo Their policies promote bubbles and crises rather than stability $$ Nov 20, 2013
Is the Only Choice Bubbles or Recession? http://t.co/5M3jsGAoqC Recessions r needed to eliminate unproductive lending; they r necessary $$ Nov 20, 2013
Risk of a Stock Market Melt-Up? http://t.co/HnaAXGTs06 ?Federal Reserve Ultra-Dovishness, Technicals, the Economy and the TINA effect… $$ Nov 18, 2013

China

Pimco Sees $3.7T Reason for Adding Yuan http://t.co/inqCbSDwNw FX reserves grew $166B in 3rd quarter 2a record; no rebalancing yet $$ $SPY Nov 23, 2013
China hard landing is likely: Andy Xie http://t.co/3NXbyF1V7y China today is like Japan in the late 1980s, an economy w/2many dead assets $$ Nov 21, 2013
Chinese Skeptics Deepen Biggest A-Share Discount in 3 Yrs http://t.co/xD4jdyx8TE Invest your $$ in Chinese stocks & watch it get Shanghaied Nov 20, 2013
Credit-Driven China Glut Threatens Surge Into Bank Crisis http://t.co/wo2aM3kDCV Forced industrialization leads to bad debts & depression $$ Nov 20, 2013
Gold No Slam-Dunk Sell in China as Aunties Buy Bullion http://t.co/33nzTfyRBF Chinese know that gold cannot be printed, so they own it $$ Nov 20, 2013
Chinese Steer Billions Abroad in Quest for Safety http://t.co/omkkxrVVYh Wealthy Chinese do not trust their government & so plan escape $$ Nov 20, 2013

Rest of the World

Iran Is Playing Obama, Says Savvy Saudi Prince http://t.co/CL71dNTKAE Fascinating political calculus here, Saudi Arabia vs Iran $$ Nov 23, 2013
Very Well Aged: Archaeologists Say Ancient Wine Cellar Found http://t.co/AT0r1KaUCO 3700 yrs old found in what is now Israel $$ Nov 23, 2013
Aluminum Fees in Japan Seen Near Record in First Quarter on Abe http://t.co/I77hxT99AJ Amazing how much Aluminum held off mkt 4 lending $$ Nov 23, 2013
Mobius Can?t Buy Enough Vietnam Equities on Foreign Limits http://t.co/zMflUVKGxY They have bad loan problems too, like everyone else $$ Nov 21, 2013
Pirates Looting Cargoes With AK-47s Threaten African Oil http://t.co/dNEwEvS0HZ Energy companies should pay military 4 services $$ Nov 21, 2013
Hollande?s Tax Rebels Underscore Mounting Opposition http://t.co/9IsTUauelM What u get for letting the govt get 2 big $$ $SPY $FXE Nov 20, 2013
Swiss Rage Against CEO Pay Provokes Vote on Salary Limits http://t.co/DiFHNPhFTv Interesting 2c if it passes & what happens if it does $$ Nov 20, 2013
Watch Greece ? it may be the next Weimar Germany http://t.co/YwKaCyY5nN Cradle of democracy becomes its graveyard? Golden Dawn & murder $$ Nov 20, 2013
What Castro Knew About Lee Harvey Oswald http://t.co/6LP6YQZs77 Argues Cuba did not plan the assassination, but encouraged Oswald 2do it $$ Nov 18, 2013

Politics & Policy

Probe of How U.S. Agency’s Medicare Move Reached Investors Hits Wall http://t.co/xf4wtpCmJh Congress shields itself from insider trading $$ Nov 21, 2013
Illegal NYC Homes Thrive as De Blasio Tackles Housing http://t.co/HIUBfVrYha Legalize alternative apartments in NYC; end rent control $$ Nov 21, 2013
Details of Private Mars Mission Given to House Science Panel http://t.co/jeHELiDu5w Space era begins when private industry does it alone $$ Nov 20, 2013
Blame Rich, Overeducated Elites as Our Society Frays http://t.co/aZFut5gXCA Long. Argues that elites can control if they r united $$ #maybe Nov 20, 2013
US Military Eyes Cut to Pay, Benefits http://t.co/nly87Jv2gq Military is thinking much farther ahead than the politicians they serve $$ Nov 18, 2013

PPACA

Obamacare Bailout Sought as Effort Planned to Bypass Site http://t.co/3Y1A7XP6Kj PPACA looks like a wrecking ball for what was good $$ Nov 21, 2013
ObamaCare Forced Mom Into Medicaid http://t.co/R1mamdO3ND If it is important 2 preserve your Mother’s dignity, y aren’t u paying 4 it? $$ Nov 21, 2013
Obamacare Consultants Warned of Health Website Failure http://t.co/0YtdOoiNDP Wasn’t a surprise; officials knew in advance & ignored it $$ Nov 20, 2013
A Conservative Cure for Obamacare http://t.co/dUGtfc286y A challenge in 2017: fix PPACA or destroy it? Nothing big will change till then $$ Nov 18, 2013

Economics

Mainstream economics is in denial: the world has changed http://t.co/8Jt15186vs Correct, but the solution is more free markets, not less $$ Nov 21, 2013
It was not the free market that failed. It was the regulated market that refused to do what it promised; regulators acted pro-cyclically $$ Nov 21, 2013
Economics students need to be taught more than neoclassical theory http://t.co/NEKYqcCAG0 Reasonable; let students hear other paradigms $$ Nov 21, 2013

Other

Worried About That 787 You Ordered? Hire a Factory Babysitter http://t.co/nshpBN6n4d Makes sense to do this when u r paying so much $$ Nov 21, 2013
A Second Life for Old Permian Oil Field in Texas http://t.co/DrEOxmz7Jo Fascinating to see multiple levels of hydrocarbons, it goes deep $$ Nov 21, 2013
US Growth comes Mostly from Inventories http://t.co/ENaaqgtHKH Helps explain why the economy feels worse than the published numbers $$ Nov 20, 2013
Brookfield?s Looking-Glass World Foundation http://t.co/C4tpqbAKx9 $BAM $BIP $BPO $BRP $INF $BEP $BOXC $BPY Be wary of opaque disclosures $$ Nov 19, 2013
A Sub-$1,000 3D Printer for Metal http://t.co/tSDpP1JriA Not quite, you have to have your own kiln in order to process the clay/metal $$ Nov 18, 2013

Wrong

Wrong: Orthodox economists have failed their own market test http://t.co/X4pJpjNyia Krugman & Baker did not predict the crisis $$ Nov 21, 2013
Wrong: The college savings plan that beat the hedge funds http://t.co/AYXMUa84ge anyone can promise a high fixed return, few can fund it $$ Nov 21, 2013
Wrong: Robert Shiller: is economics a science? http://t.co/QrGJb2hMiJ See Robert Shiller incapably defend bankrupt neoclassical economics $$ Nov 21, 2013
Wrong: Has the Dollar Really Lost 97% of Its Value? http://t.co/7F70Kximt0 It has.lost as a store of value, u should not b forced 2invest $$ Nov 20, 2013

Retweets, Replies & Comments

“Part of the solution is to define taxable income right, so that taxation cannot be deferred.” ? David Merkel http://t.co/QhIBrsytRk $$ $SPY Nov 21, 2013
“I don’t have an opinion on the Kennedy assassination. I do believe that old men like Castro like to?” ? David Merkel http://t.co/UrsN3m1N8D Nov 21, 2013
“I lose. You lose. He, she & it loses. We lose. You all lose. They lose.” ? David Merkel http://t.co/WX6QxWHlfR $$ Yellen confirmed. Nov 21, 2013
“Rating agencies are only capable of dealing with financial instruments that have gone through a?” ? David Merkel http://t.co/Zbx1A5leXm $$ Nov 18, 2013
“Few banks bought insurers, and few insurers bought banks. By the time the meltdown hit, Citi had?” David Merkel http://t.co/sfhWR9NnSf $$ Nov 18, 2013
“Would be better if the male saved up gold to give to the woman in trust. It would help protect?” ? David Merkel http://t.co/vPsYiOWg1c $$ Nov 18, 2013
“You can never eliminate all risk. Never, but let’s do our best.” ? David Merkel http://t.co/v5oMKRvCuj $$ Article: http://t.co/yFf1SIFq2w? Nov 18, 2013

Sorted Weekly Tweets

Posted on 25 October 2013 by David Merkel

Interest Rates

How Sensitive we are to Interest Rates: A Scary Picture? http://t.co/gkKi3sSLbs Argues moderate rise in rates inverts banks & governments $$ Oct 25, 2013
Fixing Economy As Easy As 1-2-3 http://t.co/sbW97kL2n7 Axel Merk says 2 make policy predictable, let interest rates rise & allow failure $$ Oct 25, 2013
Low Rates Bring Bond Bonanza http://t.co/f8gQ0rjcTB Corporations act to lock in cheap long-term financing 2pay dividends & buy back stock $$ Oct 25, 2013
Fed QE Taper Seen Delayed to March as Shutdown Bites http://t.co/v2Bo85GP9m Would not b so sure here; this is only a survey of economists $$ Oct 20, 2013
The ‘Rate Gap’ Is Rising http://t.co/w9dSYfQCl5 Gap between deposit rates & borrowing rates is higher than it’s been in 32 of last 40 yrs $$ Oct 20, 2013
Alan Greenspan: Where the Economy Went Wrong http://t.co/a7t3RGvbSZ Fed does not get they created the housing bubble; learn the bond math $$ Oct 20, 2013
Javelin Files 2 Trade Interest-Rate Swaps, Spurring SEF Shift http://t.co/B6KOHsmmpy Smart. Start w/simple liquid derivatives @ exchanges $$ Oct 20, 2013

?PPACA/ Obamacare

Court could block Obamacare subsidies in 34 states http://t.co/ej65x9fALf Legal challenge could knock out the federal exchanges $$ Oct 25, 2013
Botched Launch of Health Site Blamed on Poor Coordination http://t.co/iwH5vsbftX The software developers point the finger at one another $$ Oct 25, 2013
Federal Centers 4 Medicare and Medicaid Services acted as its own systems integrator for the site: unusual arrangement 4a complex project.$$ Oct 25, 2013
White House Sets Late-November Target for Fixes to Health Site http://t.co/WebNZLBebq UnitedHealth Group Unit Tapped to Oversee Repairs $$ Oct 25, 2013
Obama Says Health Care Law More Important Than Website http://t.co/SopPqG99ky If a law can’t b administered properly what good is it? $$ Oct 25, 2013
Why Obamacare Is Like Three Mile Island http://t.co/STOU4Ng3KL Problems in overall plan design were foreseeable; not merely and accident $$ Oct 25, 2013
Noonan: ObamaCare Takes On Water http://t.co/cpKjIyJZWg Software development is difficult when no single party responsible for everything $$ Oct 25, 2013
Contractors See Weeks of Work on Health Site http://t.co/WUoqiaiMtZ Have friends that once worked 4 CGI; to them this is no surprise $$ Oct 22, 2013

Rest of the World

Top China Banks Triple Debt Write-Offs as Defaults Loom http://t.co/DYNZ8shAV5 They trying to get ahead of the problem, but it’s too big $$ Oct 26, 2013
Local Governments Have Borrowed a Pile of Money in Recent Years, Leaving Even Beijing Wondering How Much $$ http://t.co/YZKTKDUjs0 Oct 25, 2013
Jail Time No Bar to Tea-Server Turned Top Woman Bureaucrat http://t.co/WKWO4MmPwu While detained, she used the free time 2 read 150 books $$ Oct 25, 2013
Yakuza Bosses Whacked by Regulators Freezing AmEx Cards http://t.co/qCKQI7Mo4s Money is often the easiest thing to track; leaves a trail $$ Oct 25, 2013
I realize that @Borderscrossed , & I phrased that tweet wrong — the Chinese typically play w/lower risk ventures. This is unusual 4them $$ Oct 25, 2013
China Inc. Battles Big Oil for Century?s Biggest Find http://t.co/CCm4QxgpC8 They have capital, but not expertise, & r rolling the dice $$ Oct 25, 2013
Obama Joins Putin War as Syria Jihadists Stalk Olympics http://t.co/zxwpTvWiv1 The Winter Olympic games in Sochi could be a real blast $$ 😉 Oct 25, 2013
Saudi Women Plan to Hit Roads in New Push for Right to Drive http://t.co/Iu78Zmsxp0 Fear: if they r allowed 2 drive, will drive out of SA $$ Oct 25, 2013
40 Years After Embargo, OPEC Is Over a Barrel http://t.co/6CcliMnOkv Few things r truly certain. Dead Worries: OPEC, Russia, Japan, China $$ Oct 20, 2013
The Chinese Characters Dictation Competition Is a Test Few Could Pass http://t.co/5MnpMaMozF Chinese spelling bee w/ideographs; tough $$ Oct 20, 2013

US Politics & Economics

Financial Report of the US Government http://t.co/9rknzA89Te Here’s my piece. The unfunded liabilities of the Fed Govt r ~$78T $$ 5x GDP Oct 26, 2013
If you call a crash & you get the reason right, that *is* impressive; timing is always tough. Hint: look for a arb that has gone negative $$ Oct 25, 2013
?Outrageous? tax loopholes in Democrat?s sights http://t.co/ibntGjND15 Every loophole has coalition to block its elimination; won’t work $$ Oct 25, 2013
Budget Discord Simmers Among Democrats http://t.co/gdNJqQTXEI Some Liberal Groups, Lawmakers Worry About Cuts 2Entitlements $$ biggest issue Oct 25, 2013
Treasuries Lose Cachet on Lowest Foreign Demand Since ?01 http://t.co/0PhlcmXXqv Bondholders have short memories; wouldn’t worry $$ $TLT Oct 25, 2013
Hillary Clinton’s 2016 Chances: The Coming Train Wreck http://t.co/JN61FbNNrY Will test whether having a long political resume is good $$ Oct 25, 2013
Never believe anything in Washington, DC until it is explicitly denied. The US Government has lied to us in the past $$ Oct 25, 2013
The Lessons of Classified Information: From Mossadegh to Snowden http://t.co/Ab7ytJrdRA CIA plot in Iran widely suspected, now confirmed $$ Oct 25, 2013
Middle Class Americans Face a Retirement Shutdown; 37% Say ?I?ll Never Retire, But Work Until I?m 2 Sick or Die,? $$ http://t.co/oGDNMful7I Oct 25, 2013
Reality is setting in if 37% think they won’t b able to retire. http://t.co/LA9KI4Tvrx Reality will arrive when number is 80% $$ $TLT $SPY Oct 25, 2013
Selling the Good Life on the Great Plains http://t.co/fKl4Jh8syI Rural areas pitch the slower pace to city dwellers in order to survive $$ Oct 25, 2013
Stanley Druckenmiller: How Washington Really Redistributes Income http://t.co/Cbkv9FyRu9 Baby Boomers suck the blood of those younger $$ Oct 20, 2013
Banks Pushed by Regulators Send ?Nastygrams? to Car Dealers http://t.co/W9RC6BJP7x Discrimination in lending is taking heat from the CFPB $$ Oct 20, 2013
Two articles on States Clamping Down on Workers as Contractors http://t.co/QQXoTSRZOU & http://t.co/a1OUq8MvNE Develop significant skills $$ Oct 20, 2013

Companies & Industries

Abby Johnson, the rarely seen face of Fidelity http://t.co/6dJHDIm7ES Wonder if the Washington Post pulled the story under pressure $$ $WPO Oct 25, 2013
Might Google Have a Sly Motive Behind Motorola? http://t.co/FwtqFYXYoV Argues that $GOOG bot Motorola 2 poison profits 4 $AAPL & $SSNLF $$ Oct 25, 2013
Cruise Prices Sinking: Some Now Cheaper Than Motel 6 http://t.co/dhjvxc8ytS They will leave the light on 4u; the buffet will b open 2 $$ Oct 25, 2013
Buffett says he passed on buying Washington Post http://t.co/dvZciwJDJh Definitely one to avoid, or throw in the “too hard” bin $$ $WPO Oct 25, 2013
Wal-Mart Now Draws More Solar Power Than 38 US States http://t.co/ysFvCFHWgr Drop the solar subsidies, and see if $WMT would still do it $$ Oct 25, 2013

The Financial Sector

Margin Debt Hits New High http://t.co/r0bXQwBs6X Where will additional buying power come to push up stock prices? Only game left is QE? $$ Oct 25, 2013
House flipping makes a comeback http://t.co/VAIcl86lQk Speculation returning to housing market; remember, only cash flows matter 4 prices $$ Oct 25, 2013
PCAOB Warns on Internal-Control Problems http://t.co/ZKZQwBnICe 15% of Auditors didn’t get enough data on internal control effectiveness $$ Oct 25, 2013
Weitz to Yacktman Hold Cash as Managers Find Few Bargains http://t.co/RXFoMbBJfX Not many places 2 compound value w/margin of safety $$ Oct 25, 2013
US extends backing for higher-priced mortgages http://t.co/Yk5zHr9CcW Continuing to subsidize overinvestment in residential real estate $$ Oct 25, 2013
Buffett Says Gains in Housing Fall Short of Equilibrium http://t.co/aMp5aawapZ Rare wrong Buffett; US overinvests in residential RE $$ Oct 25, 2013
Dollar Drops to 8-Month Low as Risk Appetite Swells on Fed Bets http://t.co/KtQDmkS4Yf Fed surprising w/unexpected looseness so $$ falls Oct 20, 2013

Other

A CIO?s First Task: Understanding the Culture http://t.co/4cg1GdKBZo Understanding the culture is a key to most leadership roles $$ Oct 25, 2013
Never Shop in October and Other Secrets From a Retail Guru http://t.co/KoWB9NYsmt Tips on how to avoid how retailers try 2 influence u $$ Oct 25, 2013
The Boss Is Watching: Tracking Technology Shakes Up Workplace http://t.co/WDAzYg1MJK Little brother watches 4 employees who shirk $$ Oct 25, 2013
Ex-Madoff Employee Tells Jury of ?Cut And Paste? Trades http://t.co/SJCd2TU13b Employees claim they were duped by Madoff. Q: were they? $$ Oct 25, 2013
Book Review: ‘Johnny Carson’ by Henry Bushkin http://t.co/OTB8HMQK6e Bombastic Bushkin gets 2 dance on the grave in this tell-all book $$ Oct 20, 2013
So You Want to Go to Winemaking School? http://t.co/JdpI5QCE6t Visit the UC-Davis viticultural & oenology program. $$ #wine Oct 20, 2013
It isn’t only one of the oldest winemaking programs in the country, but arguably the most prestigious $$ #wine Oct 20, 2013
The First Car You Can Build Yourself… in an Hour http://t.co/bZF43gH3ti Pretty cool for a little more than $8000 $$ Ships in a box Oct 20, 2013
The Gap Between Schooling and Education http://t.co/zJGqxgkoTT @AnnieLowrey interviews author of forthcoming book: http://t.co/bgftBBsT7d $$ Oct 19, 2013
Schools amplify parenting cultures. Motivated parents create good schools; too many top-down demands on schools inhibits true learning $$ Oct 19, 2013

Wrong

Wrong: Another billionaire is predicting doom. Ignore him. http://t.co/qh8BBp0izo Rather ignore this writer; doesn’t understand the stats $$ Oct 26, 2013
Wrong: Does the United States have $128 trillion in unfunded liabilities? http://t.co/D5Z3dkPICT Writer does not understand the figures $$ Oct 26, 2013
Wrong: Stanley Druckenmiller crisis predictions: Anyone can call a bubble years in advance. http://t.co/0W9FhMyHKT But few succeed $$ Oct 25, 2013

Retweets, Replies & Comments

I wrote about that more than once @DividendMaster . E.g. http://t.co/SrBiSHsHVZ $$ Oct 25, 2013
“They are reinvesting their free cash flow, which is different than profits.?” ? David_Merkel http://t.co/bt0CCZW9zH $$ $AMZN Oct 25, 2013
Same Old Amazon: All Sales, No Profit http://t.co/FL6ZbcGh8j $AMZN borrows2fund investment & uses free cashflow, much like private equity $$ Oct 25, 2013
RT @JimPethokoukis: 11.2%: What the unemployment rate would be if labor force participation was the same as when the recession started Oct 23, 2013
Experian Sold Consumer Data to ID Theft Service http://t.co/tjJbAXXxuN @japhychron yes, significant reason to worry & watch 4 ID theft $$ Oct 22, 2013

Sorted Weekly Tweets

Posted on 12 October 2013 by David Merkel

Rest of the World

Catalonia Wants ECB Seat After Referendum http://t.co/Dbggf0LOWs So Catalonians want to be free? Guess what, the EU does not want that $$ Oct 12, 2013
French State?s Bluster Belies Alcatel?s Job-Cutting Reality http://t.co/kzmpjKDNTC France will lose; companies will leave, so will jobs $$ Oct 12, 2013
Danes With World-Beating Debt Loads Prepare 2 Dig Deeper http://t.co/Vgx0fqqf9N This will eventually blow up; it is only a matter of time $$ Oct 12, 2013
Tepco Gets Japan?s First LNG Spot Cargo From Angola at Futtsu http://t.co/A3OnIzAFJH Future of energy is more efficient hydrocarbon use $$ Oct 11, 2013
France Calls for Alcatel-Lucent to Revise Job Cuts Plan http://t.co/KySqRhGqvN France won’t b happy until every large business leaves $$ Oct 10, 2013
Korean Banks? Margins Seen at 4-Year Low on Rate Decline http://t.co/bWhpoYhs6g High pread loans mature, low spread loans originated $$ Oct 10, 2013
Icelanders Run Out of Cash to Repay Foreign Debts http://t.co/RdCFa8jRl4 Perhaps they can default on these debts as well $$ #externaldefault Oct 09, 2013
Swedish Bubble Concern Grows With Soaring Home Prices http://t.co/VwiAVbm1wD What happens when monetary/financial policy is too loose $$ Oct 09, 2013
Algerians Cry Currency as Euro Black Market Thrives http://t.co/ftRHUXwF3q Really bad currencies attract competition from betr currencies $$ Oct 08, 2013
Finns Foraging for Cheap Food Shows Price of AAA Obsession http://t.co/kuPKb8g3KQ Really, it’s being in the E-Zone, not having own curncy $$ Oct 07, 2013

US Politics

7 doomsday default scenarios http://t.co/sDgNpzRCSU There is nothing good here, particularly banks and money market funds blowing up $$ Oct 12, 2013
Budget Battle Ends Soon With Tea Party Loss: King, Corker http://t.co/Dk6XVMUPRo Discharge petition coming as liberal GOP teams w/Dems $$ Oct 11, 2013
Now Is the Time to Delay ObamaCare http://t.co/Dklp65OWnJ Make case off of lack of technical readiness of computer systems $$ Oct 11, 2013
EPA may reduce ethanol blending volumes for 2014 -sources http://t.co/Ve4DU5AaV2 End the RIN-sanity & watch refiner stock prices fly $$ Oct 10, 2013
Legislative History of Sec 4 of 14th Amndmnt http://t.co/JCEmr9SnHZ Must Executive prioritize payments? Must Congress raise debt ceiling? $$ Oct 10, 2013
Justice Kennedy Offers Views on Shutdown, Congress, Gay Marriage http://t.co/Nq9VcPtbNn Love him, hate him, you have to understand him $$ Oct 10, 2013
Obama Seems 2Think Presidency Gives Him Absolute Power http://t.co/IhFwBRTcYn Scotus has ruled presidents can’t delay, amend or repeal laws Oct 09, 2013
Surplus to Cost Uncle Sugar Up to $300M http://t.co/vl4QNMq2Vb Environmentalists & free marketers can agree: Eliminate sugar subsidies $$ Oct 09, 2013
Once the budget is balanced, businessmen will have greater certainty over sustainable tax policy, & will become more aggressive $$ Oct 09, 2013
Ryan: Here’s How We Can End This Stalemate http://t.co/QePY6Y3XWd Behind every economic debate in DC, entitlements is the hidden issue $$ Oct 09, 2013
President Obama Might Ask Who Benefits from US Debt Default http://t.co/F8mzQQQSUU Anybody know how big total notional amt on CDS on US? $$ Oct 09, 2013
White House Backs Temporary Debt-Ceiling Fix http://t.co/moMSWfLKab This may be how agreement is reached, w/some budget compromise also $$ Oct 08, 2013
Meltdowns Hobble NSA Data Center http://t.co/NpnnX0eyPy Investigators Stumped by What’s Causing Power Surges That Destroy Equipment $$ Oct 08, 2013
USDA Buyers Stuck in Limbo as Shutdown Hurts Housing http://t.co/M0LvI019Ye USDA should not be in the lending business. Ag is doing well $$ Oct 08, 2013
He Beat Us in War but Never in Battle http://t.co/Gixl0Fm9mt John McCain writes on recently deceased N. Vietnamese Gen. Vo Nguyen Giap $$ Oct 08, 2013
Americans are more conservative than they have been in decades http://t.co/GQrkq0ZHg5 I find this difficult 2 believe, would b more chg $$ Oct 07, 2013

Market Impact

Better Beta Is No Monkey Business http://t.co/UrSmi7Ql3h High dividend stocks are overvalued; dividends are not the best proxy for value $$ Oct 12, 2013
The BIGGEST Problem with Buy and Hold http://t.co/lIb3cQpqgY Biggest companies, bot&held do not have the same room to grow vs smaller cos $$ Oct 12, 2013
How Investors Lose 89% of Gains from Futures Funds http://t.co/inEYR2xDgi Long article on how managed futures doesn’t make $$ 4retail invtrs Oct 08, 2013
Worst Stocks to Reverse With Commodity Profits Rising 18% http://t.co/ImKtQ5KXPi A contrarian idea w/precious metals doing poorly of late $$ Oct 08, 2013
Finra to Consider Requiring Brokerages to Carry Arbitration Insurance http://t.co/qjxeVp89b7 A very good idea; mkt would weed out the bad $$ Oct 06, 2013

Companies & Industries

Boeing’s New 777X Could Make the Largest Jumbo Jets Obsolete http://t.co/VnBflpZ6dr Efficient engines, folding wings end the 747 era $$ $BA Oct 11, 2013
US eyes cutting ethanol usage http://t.co/d7r88Z2hA8 This should be a no-brainer, aside from corn farmers, $ADM, & ethanol refiners $$ Oct 11, 2013
Jeff Bezos and the Age of Amazon: ‘The Everything Store? http://t.co/EtF1QvWcqg Looong & interesting about Amazon & its founder’s origins $$ Oct 10, 2013
Costco Stands Behind Its Cheap Rotisserie Chicken Strategy http://t.co/aptxcuyH8u $5 for a Rotisserie Chicken? Can’t buy raw that cheap $$ Oct 10, 2013
Verizon and Vodafone Talks Took Four International Cities and Eight Months http://t.co/GmR1XjxTgl Patient $VOD wins against needy $VZ $$ Oct 09, 2013
US Banks Margin Under Tremendous Pressure http://t.co/EQVHiLmKWr Funding costs can’t get much lower, while old high-yielding loans mature $$ Oct 09, 2013
Ohio Smelter Faces Shutdown Without Utility Rate Relief http://t.co/O87iyfFdNQ & aluminum is in oversupply; why should we subsidize this? Oct 06, 2013

Healthcare

Mapping America?s Coronary Stent Hot Spots http://t.co/EFfUjfbjHD Check & c whether u live in an area that over-installs stents $$ #savelife Oct 10, 2013
Mother Dies Amid Abuses in $110B US Stent Assembly Line http://t.co/Nag1UCiqfi Sad tale of medicine done 4 profit 2 the harm of patients $$ Oct 10, 2013
Micro Businesses Find Health-Care Rollout Is Slow http://t.co/1hhcfPlCfX State Small-Business Exchanges Still Aren’t Ready $$ #gigo Oct 08, 2013
Republicans Didn’t Sabotage Health Exchanges, Obama Did http://t.co/OkGA7HEBVw Very difficult 2get complex programming projects done fast $$ Oct 08, 2013
Robot Surgery Damaging Patients Rises With Marketing http://t.co/fFe29Nesdp Check out track record of any doctor doing robotic surgery $$ Oct 08, 2013
Exchanges Will Raise US Healthcare Costs http://t.co/8UhQm58INQ Removing economic incentives has always raised healthcare costs $$ Oct 07, 2013
IT experts question architecture of Obamacare website http://t.co/hvfjKXp5Rt System architecture flaws caused problems, not traffic alone $$ Oct 07, 2013

US Local Economics

GED Faces New Rivals for High School Dropouts http://t.co/SG0UQ1wqzT Passing the GED doesn’t mean much, but if you pass a tougher test? $$ Oct 12, 2013
Machines Gauging Your Star Potential Automate HR Hiring http://t.co/MOcnq8Hd5E Can playing games well reveal u better than your resume? $$ Oct 11, 2013
Montana Towns Struggle With Oil Boom Cost as Dollars Flee http://t.co/3Wz5aUCc2p Small town’s budget can’t keep up w/Infrastructure needs $$ Oct 10, 2013
Housing Boom Bigger in Texas as Home Bidding Wars Erupt http://t.co/GyOZGL1fgC the Texas economy very strong & the builders can?t keep up $$ Oct 09, 2013
Puerto Rico Debt Troubles Regulators http://t.co/s3b54N9UsT Check your muni bond fund, b/c even single state funds bot PR 4extra yield $$ Oct 07, 2013
Pay Raises for Teachers With Master’s Under Fire http://t.co/N3ogmAntdZ The next study should b whether education BAs harm teaching skill $$ Oct 07, 2013

Other

Colleges Try Cutting Tuition?& Aid Packages http://t.co/6MWuklxikq Unlikely 2 work; higher sticker w/greater aid helps selectivity/cachet $$ Oct 11, 2013
Snowden Says He Has No Regrets http://t.co/KFVhXMW7Fu satisfied his actions had an impact; Sam Adams Award 4Integrity in Intelligence $$ Oct 11, 2013
Baseball Battling Dominican Drug Use While Grappling With A-Rod http://t.co/kU2zOHvECu Doping begins in the minors, w/many from DR league $$ Oct 11, 2013
Light Point Security: A Software ‘Jail’ 4 Malware? http://t.co/s1cPTtwlD6 Clever idea: browse in the cloud, image relayed 2local browser $$ Oct 10, 2013
Chemistry Nobel Goes to Three for Computer Program Work http://t.co/GBZA3RtgcB Interesting. Didn’t know u could do chemistry w/computers $$ Oct 09, 2013
Sudden Collapse of Cloud Provider Rattled IAC http://t.co/ilhmBtahWe If cloud provider announces shutdown, act fast 2preserve your data $$ Oct 08, 2013
New York Bans Harbinger’s Falcone From Insurance Role http://t.co/IFfrBHv9Xq Interesting how the NY Commish got Falcone out of MD ins sub $$ Oct 08, 2013
Gold Befuddles Bernanke as Central Banks? Losses at $545B http://t.co/lgtX56v0Oq Central Banks r not immune from the fear/greed cycle $$ Oct 08, 2013
Younger Americans Fare Poorly on Skills Against International Peers http://t.co/c5dL26lXPM But Americans r more flexible & creative $$ Oct 08, 2013
Finance People To Follow On Twitter http://t.co/Q6jBZWGtkg A great list, at least for those that I know, should u have time 2follow 106 $$ Oct 08, 2013
Humans Trump Robots at the Grocery Store http://t.co/atazmQ8R5h Cashiers Trump Self-Checkout Machines at the Grocery Store $$ Oct 07, 2013

Janet Yellen

When Yellen Speaks World Listens as Fed Plans US Course http://t.co/iRO9Fg6JMf More hagiography as media/acdmics overestimate her ability $$ Oct 11, 2013
Senate Confirmation Hearing 2Test Yellen’s Skills of Communication http://t.co/3lQVrH3zXh Can she think on her feet w/hostile questioners $$ Oct 10, 2013
The Yellen Difference http://t.co/Wgeop65jct How Yellen is different than Bernanke: Tobin Keynesians will b in charge at Federal Reserve $$ Oct 10, 2013
Janet Yellen: 5 Things You Should Know About Obama?s Fed Chair Nominee http://t.co/52Ie5o9nkk Wealthy, apolitical, Akerlof, forecasting $$ Oct 09, 2013
Yellen 2b Named Fed Chairman, First Female Chief http://t.co/DSsky1sDgM What’s done is done; someone has 2b the fall guy/gal $$ #glasscliff Oct 09, 2013

Tower Group

Commented on StockTwits: It’s a question of probabilities. Clearly the odds are higher now than a week ago, much h… http://t.co/XPlzWLxvy9 Oct 10, 2013
Commented on StockTwits: I used 2b a corporate bond manager. When u c a 1-yr obligation trading below $95, solven… http://t.co/AugmpPF1Ib Oct 10, 2013
Risky equities should be priced to earn 20%+. The bonds of $TWGP yield 20%+. Makes me think bonds r the true equity & stock a call option $$ Oct 10, 2013
20%+ yield = panic $$ RT $TWGP just watch the bonds they are $88 and B-. Off lows they do not reveal panic. HOLD. http://t.co/VMc0Rih0bT Oct 10, 2013

Wrong

Wrong: Obamacare Foes Using Shutdown Echo South?s Nullifiers http://t.co/js120efIId Not a fair portrayal. Obamacare was badly thought out $$ Oct 12, 2013
Dubious: How Yellen Will Shape Fed’s Banking Regulation http://t.co/DHGcgEOqmb Surprise me if much happens; Fed rarely strong regulator $$ Oct 10, 2013
Uncertain: Recession Looms If Treasury Uses Tools to Prevent a Default http://t.co/FY39fp90eQ Not so sure it would create a recession $$ Oct 09, 2013
Wrong: Detroiters Living Amid Ruins Resist Moving as City Reorganizes http://t.co/MuaBzAfVbm Article purely anecdotal, population shrinks $$ Oct 07, 2013

Replies, Retweets, & Comments

@SilentMachinery I wondered about that also. There may be something there. Oct 12, 2013
I need 2brighten my mood. Ah, @AARP has sent me membership cards. Snip, snip, snip. Much better. Old people suck the blood of the young $$ Oct 10, 2013
Luck seems to even out for me. I miss gains & losses evenly. I usually don’t spend much time on a stock after I sell it $$ @merrillmatter Oct 10, 2013
RT @researchpuzzler: on endowment investing ~ 1) @AlephBlog: http://t.co/UrctMBjW9R ~ 2) @advperspectives: http://t.co/AlhZQgPGnw Oct 09, 2013
To @TheUncorrelated : my article on your whitepaper, with my advice to endowment investment managers is here: http://t.co/dQlapwbWqO $$ Oct 08, 2013
@rishad Beautiful, but it follows the footsteps of Detroit. One poet said, “Chicago is a pompous Milwaukee.” The skylines don’t compare tho. Oct 08, 2013

Sorted Weekly Tweets

Posted on 5 October 2013 by David Merkel

US Government Shutdown

To Lead Is to Negotiate http://t.co/AJTjPESgiI Elements of an interview w/James Baker describing Reagan the pragmatic dealmaker $$ Oct 04, 2013
Pig Sales Fly Blind as Data Cut by Shutdown Hampers Firms http://t.co/MHHnn29XXH Guess what? That’s the way most markets operate $$ Oct 04, 2013
Troops Forage for Food While Golfers Play On in Shutdown http://t.co/Y9HV5IpF3A “the appropriations process has completely failed” $$ Oct 04, 2013
Obama Rewrites Debt-Limit History http://t.co/BIRNHLH7Pm D&R Congresses have used the borrowing limit as political leverage w/a president $$ Oct 04, 2013
US banks fearing default stock up on cash http://t.co/tYXMlQXcIe If money markets freeze, currency will be needed to mediate exchange $$ Oct 04, 2013
Loose monetary policy needed to counter Washington gridlock: Fed officials http://t.co/AmJqqcMQPQ Fed enables intransigence of congress $$ Oct 04, 2013
Republicans Are No Longer the Party of Business http://t.co/Vwa5U0pENS Case not proven; as if the Democrats think of any biz but big biz $$ Oct 04, 2013
Frustrated Republicans Pressure Boehner to End Shutdown http://t.co/m6eSEtXQ5n Likely endgame: Democrats & liberal GOP ally in House $$ Oct 03, 2013
US Stocks Rise as Investors See Limited Shutdown Impact http://t.co/nB5WCCcsd4 Will they say the same thing today off neg mkt action? $$ Oct 02, 2013
Behind the Noise, Entitlement Reform http://t.co/Ed2ug8HoCN This is the elephant in the room; the economic problem behind all the rest $$ Oct 02, 2013
More Than 800,000 Federal Workers Are Furloughed http://t.co/GP0XdAxugH Oddly, this helps point out what true priorities of the govt r $$ Oct 01, 2013
In Government Shutdown, Few Parallels With Most Recent One http://t.co/RmJ7X3iL0Q Maybe shutdown is an alternative mode of running govt? $$ Oct 01, 2013

Companies & Industries

Twitter Look-Alike Ticker Triggers 684% Advance in Penny Stock http://t.co/hLf2VRP6Hs Big difference btw Twitter $TWTR & Tweeter $TWTRQ $$ Oct 04, 2013
Mars Repays $4.4B of Berkshire Bonds Tied to Wrigley Deal http://t.co/U5uSgTXBd8 Now Buffett has tough job of redeploying capital $$ #cash Oct 04, 2013
Twitter Sends Different Message Than Facebook in Filing http://t.co/azMDDPHVwz 32 pages of risk factors, no classified stock, refreshing $$ Oct 04, 2013
Blackstone Opens Europe Spigot as Distressed Deals Surge http://t.co/yYQl2dwhzS As EU banks get reasonable, $BX sees opportunity 4 deals $$ Oct 04, 2013
Alcoa on ?low risk financiers? and parallel metal markets http://t.co/ganjSH2aZg With low interest rates, cheaper to store metal $$ Oct 03, 2013
Beanie Baby Creator Pleads Guilty to Swiss Bank Tax Dodge http://t.co/V8PrsbKEAO He’ll make up the $$ w/a line of Ty the Jailbird dolls Oct 03, 2013
We Are Googling the New York Times to Death http://t.co/OLJ0XsSCRA Use Google 2get free access to the $NYT – broken media revenue model $$ Oct 02, 2013
OGX Upheaval Portends Deeper Bond Loss for Pimco http://t.co/m9Do3MALyM BK is tough on creditors in Brazil; long process, low recoveries $$ Oct 02, 2013
How BlackBerry blew it:The inside story http://t.co/4K7Kw4Y5bL Long article as $BBRY focuses on core biz, misses threat from new entrants $$ Oct 01, 2013
Schwarzman Says Selling BlackRock Was ?Heroic? Mistake http://t.co/G8ZKjxNOZ0 Missed out on 79%/yr returns compounded over 19 years! $$ $BLK Oct 01, 2013
BlackBerry Rare Breakup Fee Seen Deterring Bids http://t.co/uyo9Ra1zzA Watsa gets a free look, while others effectively locked out $$ $BBRY Oct 01, 2013
Why Anglo American Walked Away From Pebble Mine Gold Deposit http://t.co/QwqmjykuD9 Interesting, but only speculations on y $AAUKY left $$ Oct 01, 2013
Commodities ?Super Cycle? Is Seen Enduring by McKinsey http://t.co/Jnj1XwZNKO Marginal costs keep rising as lower costs ores deplete $$ Oct 01, 2013
Storage Wars Seize Metals Market http://t.co/WkX0fsOx3o Aiming 2end games that lock up metal in storage as collateral for loans, I think $$ Oct 01, 2013
Falcone?s Funds Sell Harbinger Group Shares to Leucadia http://t.co/2l8dSyEPKP $HRG funds sell shares 2 $LUK @ a 20% discount 2 mkt price $$ Oct 01, 2013
Of course $LUK has 2 hold onto the shares 4 a while, but still that’s a pretty stiff price 2 pay 4 liquidity $$ $HRG Oct 01, 2013

Finance, Pensions, Etc.

More Than 5,000 Stockbrokers From Expelled Firms Still Selling Securities http://t.co/E5lczvdLJP Don’t buy what someone wants 2 sell 2u $$ Oct 04, 2013
How to Look Under a Hedge Fund’s Hood http://t.co/oKy6ZQWo1q There’s more 2ask than this, but these 7 questions r a good start $$ Oct 04, 2013
Hedge Funds Used Obscure Bond Bet to Win in GM Bankruptcy http://t.co/SaLKh7sg9Q They did hard work with their brains, & won $$ #distressed Oct 04, 2013
8 Incredible Shares On StockTwits About Hedge Fund Market Wizard Ray Dalio http://t.co/tjQ9ecAF1A I added two more resources $$ Oct 04, 2013
Time to Ditch the Yale Endowment Model?http://t.co/aYWfleXE7R Similar to an article I wrote 4 years ago http://t.co/2ox3Zzdaac $$ @M_C_Klein Oct 04, 2013
S&P 500 Pension Status Continues to Improve in September http://t.co/tyL1fqCivB Rising prices for risky assets & more contributions help $$ Oct 03, 2013
Peak-population investing http://t.co/0I5s49iBBC Demographics affect inflation – goods inflation w/many young asset inflation w/many old $$ Oct 03, 2013
10 Terms Investment Pros Use to Raise Money @Reformedbroker http://t.co/cHivwK8uvh Points @ 10 buzzwords w/fuzzy meanings & little truth $$ Oct 02, 2013
Option-Selling Is Not Income http://t.co/zdiP91nKsK Well written,& it needs 2b said. Option “income” vs capital losses & opportunity costs $$ Oct 02, 2013
Eric Schneiderman, Wall Street Time-Machine Sheriff http://t.co/trSBh80ObO Dig deep enough in2 any multiparty trnsctn & u will find dirt $$ Oct 02, 2013
In multiparty transactions, u have 2b careful. Who has more info than u? How r incentives aligned? Y r u lucky one invited 2play w/them? $$ Oct 02, 2013
Student-Loan Straitjacket http://t.co/1keTvDykpV They should look at income-based repayment plans; in many cases they would pay far less $$ Oct 02, 2013
Fab Tourre Wants Another Chance to Explain http://t.co/X4H8b70hVi Did Tourre withhold mind-chging information deal players were entitled2 $$ Oct 02, 2013
Inter-dealer brokers? inside information @FelixSalmon http://t.co/cCcVMM3foF What is fraud vs making/arbing a mkt? http://t.co/6aKN6t0Abw $$ Oct 02, 2013
Top 20 Films about Finance: From Crisis to Con Men http://t.co/nDv0Rz4P4P I added on the film “The Billion Dollar Bubble” Equity Funding $$ Oct 01, 2013
Gibraltar Seen as Europe-Beater for Finance Professionals http://t.co/YzHgQRv82A Perhaps more money per hectare than any other place $$ Oct 01, 2013
Commodity Trader Didn’t Really Believe in Market Prices http://t.co/qVEC4lQB8u Citi mismarked illiquid exchange-traded ethanol contracts $$ Oct 01, 2013
This Sociological Theory Explains Why Wall Street Is Rigged 4 Crisis http://t.co/ff6NWs1GOO Technological efficient w/odd feedback loops $$ Oct 01, 2013

PPACA / Obamacare

Overwhelming Demand 4 Obamacare Shows Potential Success http://t.co/4i3Kb6P8SN Success?? Show you what happened 2me http://t.co/vlrqUxFXzr Oct 04, 2013
How ObamaCare Wrecks the Work Ethic http://t.co/3U2z8PKPwR Saw this a month ago, subsidies raise marginal tax rates 4 lower middle class $$ Oct 03, 2013
The Republicans Fighting Obamacare Aren?t Crazy http://t.co/A61poB4ArU PPACA *can* b repealed, but would take a GOP swing in 2016 2do it $$ Oct 01, 2013
Why must the American people suffer when even so many Democrats don’t want Obamacare? http://t.co/uJfncEetS7 Congress exempts itself $$ Sep 28, 2013

Civil Liberties in Cyberspace

NSA chief admits misleading numbers, adds to Obama administration blunders http://t.co/wsS2qrIW74 Politicians overstate metadata value $$ Oct 04, 2013
NSA Involvement in NIST Encryption Standards Could Make Companies Less Competitive http://t.co/RzRVSYVtiv Does NSA demand backdoors? $$ Oct 03, 2013
On NSA’s encryption defeating efforts: Trust no 1 http://t.co/afq1Fjngzv Big companies r in cahoots w/NSA, can’t b trusted, r lying 2us $$ Oct 02, 2013
NSA Gathers Data on Social Connections of U.S. Citizens http://t.co/oVIYLWdHFi The NSA endangers our civil liberties; we need to end it $$ Sep 30, 2013

Monetary Policy

Will Unconventional Monetary Policy Be the New Normal? http://t.co/nN00ta4UIM Fed is hopeless; they don’t get they r inflating assets $$ Oct 04, 2013
Aluminum Prices: Blame It on the Fed http://t.co/kgjOTbNeqd Low interest rates lead to loans collateralized by aluminum $$ Oct 03, 2013
Don?t Cry for Me, Ben Bernanke http://t.co/unN01G8N8K Developing Countries should get ready for the eventual Fed tightening, if they can $$ Oct 01, 2013

Banking

The Bailout That Never Came http://t.co/cROhzGqjYB Bailout for homeowners was half-hearted at best; 4 banks it was a warm friendly hug $$ Oct 04, 2013
Banks abandon mortgage preapprovals http://t.co/ro6NE8T5Yb Makes the purchases of homes more complex b/c likelihood of financing down $$ Oct 03, 2013
Are Banks Forward-Looking in Their Loan Loss Provisioning? http://t.co/1V6ytChwB2 I would be more inclined to think it is a “cookie jar” $$ Oct 02, 2013
The JP Morgan apologists of CNBC http://t.co/HJgOH3NGvT Media often panders 2 power or they lose access to the powerful people $$ Oct 01, 2013

Other

Duke to NYU Missteps Abroad Lead Colleges to Reassess Expansion http://t.co/1ZoHGD2CeP Have 2 make sure of a good cultural fit first $$ Oct 04, 2013
Freak Grape-Razing Hail Crushes Burgundy Winemakers? Dreams http://t.co/rxSiKaRpvl 2years of hailstorms destroy the prospects of vintners $$ Oct 04, 2013
Migrant Ship Sinks Off Italian Island, Killing Dozens http://t.co/KCYgVt0Bx8 Europe is Elysium 4 these migrants; US is the same 4 others $$ Oct 03, 2013
NFL Free-Agent Lawyer to Unlock $16B in NCAA Athletes http://t.co/nfitchpsSt Free student labor may disappear; may hit big programs hard $$ Oct 03, 2013
Moon walker demo lets wannabe astronauts feel 0.17G http://t.co/BsenBrl8ck Cool. Could b used 4physical therapy after severe leg injuries $$ Oct 02, 2013
Educators in the art of life must have chance of their own http://t.co/HxiCZUOyP3 Certain college depts survive on low paid p/t academics $$ Oct 02, 2013
Worried About Cancer? Get Married http://t.co/PQFp8Q67SD A man & a woman who get & stay married tend to take care of each other $$ #healthy Oct 01, 2013
Gangnam-Style Nip and Tuck Draws Tourists to Seoul?s Beauty Belt http://t.co/2nC182RWtV Plastic surgery becomes a tourist draw 2 Seoul $$ Oct 01, 2013

US Politics & Policy

Small town, big impact: Supreme Court case could define religion’s role in public http://t.co/oD09WqaOaT Govt Ceremonial deism may end $$ Oct 04, 2013
Who Do You Believe: The White House and Wall Street ? or the American People? http://t.co/ZIRZDU1i5p Economic Confidence continues 2drop $$ Oct 03, 2013
Bankrupt Stockton Plan Favors Retirees Over Creditors http://t.co/yZ80M5s5lz Will b difficult 2get thru BK city, unless emplyee benes cut $$ Oct 01, 2013
‘Strings Attached’ Co-Author Offers Solutions for Education http://t.co/BMF9zPqMU6 I learned the most from teachers that were hard on me $$ Oct 01, 2013
Panel Finds Planes Can Handle Use of Electronic Devices http://t.co/hCnZNFfR98 At last, the bad science crumbles & freedom increases $$ Oct 01, 2013
The most predictable economic crisis? http://t.co/XAqVj9QZ9S Implicitly, entitlement reform lies behind almost all our problems in DC $$ Oct 01, 2013
Why I Am Cancelling My Documentary on Hillary Clinton http://t.co/oKxLjUwRDZ No openness from the Clintons dooms a documentary from CNN $$ Oct 01, 2013

Replies, Retweets & Comments

2 all who follow me on Twitter, my account was hacked, & someone sent out a bunch of spam tweets & DMs that I would never send. My apologies Oct 01, 2013

@kltblom when the amount of range for premium variation is only three, it is not a workable system. Anti-selection will occur. Oct 05, 2013
@M_C_Klein I started out as an Asset-Liability Management actuary, and I have traded in illiquid securities, makes me think differently Oct 05, 2013
@kltblom Removed deduction for employer-paid healthcare. Encouraged HSAs, and try to move to predominantly first-party payer model Oct 05, 2013
@TheUncorrelated I willprobably write an article on this next week. Will sound like the one I cited b4 & like: http://t.co/Y8CA0LX9Qi Oct 05, 2013
@kltblom I’m an actuary; since the PPACA was proposed, the health actuaries I have talked with have said tht PPACA won’t work Oct 04, 2013
‘ @JonathanWeil Say run rate EBITDA for 2013 is $50M. If Market Cap of $TWTR is $12B, that is an astounding EV/EBITDA of 240 $$ #nosebleed Oct 04, 2013
@_DM0_ I can confirm that, they have taken down the slides. Pity, quickest way to absorb the material Oct 04, 2013
@Kitsune808 It is not infrequent that @BloombergNews Headlines are misleading, or quirky. They march to the beat of a different drummer Oct 04, 2013
@PlanMaestro I know, but given attention to the video, I thought I would show the PDF that better fleshes out his position. and the slides Oct 04, 2013
Thanks @onlineawards @TightTalk @valuetakes for being top new followers in my community this week (insight via http://t.co/sern3wLA13) Oct 04, 2013
“”Spain?s public debt in 2014 is expected to be the equivalent of 98.9 percent of total economic?” ? David_Merkel http://t.co/HPR50Rjijp $$ Oct 04, 2013
“Two more: 9) And for those that want to read Ray Dalio’s economic template book, it is free here:” ? David_Merkel http://t.co/QLWdRs1odG $$ Oct 04, 2013
@ToddSullivan A computer could do it anywhere by minimizing the distance of internal boundaries subject to equal popoulations. Not hard. Oct 04, 2013
@ToddSullivan We need structural reform 2 end that given gerrymandered districts. A lot of people want change, but districts not competitive Oct 04, 2013
@kltblom If PPACA were mere risk pooling, I might agree. It is a messy ugly law that ignores basic actuarial principles & will not work well Oct 04, 2013
@volatilitysmile They give us different pieces of the puzzle (insight by http://t.co/sern3wLA13) Oct 04, 2013
#FollowFriday Thanks @ReformedBroker @pelias01 @researchpuzzler for being top influencers in my community this week 🙂 Oct 04, 2013
@ReformedBroker The Baby Boomers gray, and money socked away, let finance guys play, make dough every day. Thus so many wealthy $$ managers. Oct 04, 2013
Thanks @ToddSullivan @ReformedBroker for being top engaged members in my community this week (insight via http://t.co/sern3wLA13) Oct 03, 2013
Thanks @TightTalk @BabyFreshNuggz @X9T_Trading for being top new followers in my community this week (insight via http://t.co/sern3wLA13) Oct 01, 2013
Thanks @moneyscience @TopInvestBlogs for being top engaged members in my community this week (insight via http://t.co/sern3wLA13) Sep 30, 2013
@RexHuppke You are a real man, unlike many today. You may be stupid, but at least you are taking action, rather than compromising w/losers Sep 28, 2013

Sorted Weekly Tweets

Posted on 17 August 2013 by David Merkel

Companies & Industries

Odyssey Hits Wall as Honda Redesigns Minivan to Ace Test http://t.co/6VyK2N2EcO $HMC goes all out to reduce crash injuries 4 2014 Odyssey $$ Aug 16, 2013
Fairholme Fund May Increase Bet on Fannie, Freddie http://t.co/EOj8Z9SCzg BB reopens fund 2 get more buying power 4 F&F. Wouldn’t do it $$ Aug 16, 2013
Warren Buffett Stake in Suncor Energy, Much More Than It Seems http://t.co/ULDMXqYAnt $SU will be producing high cost oil 4a long time $$ Aug 15, 2013
Mall Owners Entice Hispanic Shoppers http://t.co/k42J96Nhxc Temporary stopgap 4 malls being hollowed out by retail over the internet $$ Aug 15, 2013
Losing Faith in Gold From Ghana to Vancouver Proves Rout http://t.co/K6VcC7Duyj More high cost mines come out of production as gold falls $$ Aug 15, 2013
The iCahn Effect: Apple’s Market Cap Jumps by $17B After Tweets http://t.co/8qb0rUWjCR Don’t c how $1B should move a stock $17B $$ $AAPL Aug 14, 2013
Y Food Companies Are Fascinated by the Way We Eat http://t.co/NhIRtprRWj Do u like 2 chew, crunch, smoosh or suck? Food companies study u $$ Aug 14, 2013
Financials near to regaining S&P 500’s top spot http://t.co/fgSKGOrfyC We do not learn, we do not learn, we do not learn, we do not learn $$ Aug 13, 2013
Endurance Welcomes Fred Cooper 2Head US Financial Institutions Insurance Practice http://t.co/XpQcxwYwJS Picking up nickels… $$ FD: + $ENH Aug 13, 2013
Heinz announces layoffs in Pittsburgh and Canada http://t.co/VG3WI8OTfs Now that the merger has closed, the cost rationalization begins $$ Aug 13, 2013
Funny in a way: pricing rationality & profits flow to hard disk makers once the industry consolidated down to three players $$ Aug 13, 2013
WD? Founds New Storage Association To Promote The Critical Role Of Magnetic Storage Technologies http://t.co/4jKYDyGGb2 FD: + $WDC $$ Aug 13, 2013

Rest of the World

India Shares Slump, Rupee Sinks to Fresh Low http://t.co/cfEnRd5EjQ Central Bank tightens credit conditions- Rupee still falls & stocks2 $$ Aug 16, 2013
How Mexico Ended Political Gridlock With a Pact http://t.co/GjNEfA0Ela How the PAN & PRI managed to work together & get most mutual goals $$ Aug 16, 2013
What Obama Misunderstands About Egypt http://t.co/UAKXAQBOPs No one worthy of support here, as Egypt slides into a situation like Syria’s $$ Aug 16, 2013
Cayman to Singapore Gain as Rules Stump Clinics http://t.co/giudbhHATR Medical Tourism looks elsewhere as India makes things hard $$ Aug 14, 2013
Petrobras Downgrade Looms as Slump Sinks Rating Outlooks http://t.co/EpRahHggSF Brazilian corporate sector got too aggressive w/debt $$ $PBR Aug 13, 2013
Death of 75-Year Monopoly Can?t Come Soon Enough: Mexico Credit http://t.co/wqfnynnYkP PEMEX monopoly lasts 75 yrs, dies in a few weeks? $$ Aug 13, 2013
Japan Inc. Profit Doubles to Add Support to Economic Rebound http://t.co/xv5dPxlRHO Sends $$ from consumers 2 exporters 2 invest abroad Aug 13, 2013
Mexico Plans Oil Reserve Sweetener to Lure Exxon, Chevron http://t.co/Ol0sGlse9h Will allow companies 2count reserves from profit-sharing $$ Aug 14, 2013
Buffett-Style Dinner Auctions Lure Chinese Seeking Just Society http://t.co/7dK9W52Yhe Long article on odd business seeking a freer China $$ Aug 14, 2013
What Brazilian Slowdown? Petrobras Maxes Out Refining Capacity&Imports Oil2Meet Demand http://t.co/0FsI0V6V27 $PBR Milked by Brazil govt $$ Aug 13, 2013

Bond Markets

Confident Consumers Step Up Their Borrowing http://t.co/QkD3Xss4NS Auto Loans Post Largest Gain in 7Yrs, as Total Consumer Debt Declines $$ Aug 16, 2013
California Sells $5.5B in Bonds http://t.co/TbUGTpmTk7 Better fiscal mgmt, maybe, at least it is not Michigan. Liquidity is abundant $$ Aug 16, 2013
Muni Investors Make Michigan Pay http://t.co/zCWMx5Ba2a To get a muni deal done in Michigan, you need extra yield & guarantees/covenants $$ Aug 15, 2013
Summer Lull Draws Investors to Riskier Debt http://t.co/08H0vfFj1b Feels like time to begin peeling back credit risk $$ Aug 13, 2013
Bond Hubris Overwhelms Fed in Riskiest Credit-Market Sectors http://t.co/WUKgfpse77 No free lunch; Fed’s asset inflation will mean-revert $$ Aug 13, 2013
Michigan Safety Net for Boomers Frays on Bankrupt Detroit http://t.co/tTso4JMxTR What happens when u make 2 many promises vs tax base $$ Aug 13, 2013

Central Banking

Fed’s Yellen Says Stance on Banks Hardened http://t.co/KZIfgPncaN Yellen tries 2 differ from Summers, but bank regulation was weak 2003-8 $$ Aug 13, 2013
Next Fed Head Should Meet the Bernie Sanders/Elizabeth Warren Standard http://t.co/xM9MF71dvM Questions aren’t realistic about $$ policy Aug 13, 2013
Yellen, Fischer Among Participants at Jackson Hole This Year http://t.co/MBui5Hfc3y Bernanke not attending as he slips into the shadows $$ Aug 13, 2013
Rand Paul on Republicans’ Voter Appeal and the Federal Reserve http://t.co/oVdaavHWsj Can we find another Reagan, who united the GOP? $$ #no Aug 13, 2013

Market Impact

Hundred-Dollar Stocks Double as US CEOs Dismiss Splits http://t.co/OOmXdpWSrU With trading costs so low, y do we need splits anyway? $$ Aug 15, 2013
How to Invest Like Seth Klarman http://t.co/JDxW9VbROs Easier said than done. Who has the conviction 2 sit on $$ when opportunities r poor? Aug 13, 2013
Greater &lesser rotations http://t.co/XZ6D4CgIZq “no evidence that retail investors r very overweight bonds or very underweight equities” $$ Aug 13, 2013
Will Mom and Pop investors blow it again? http://t.co/95lZYtIZ6u @BrettArends on retail $$ coming back into stocks; time 2b careful Aug 13, 2013

Politics & Policy

What We Lose if We Give Up Privacy http://t.co/ZOddurR51k When 4th Amendment rights erode, 1st Amendment rights follow, eg, free speech $$ Aug 16, 2013
Free Work Entices Businesses to Hire Long-Term Unemployed http://t.co/Lhemn5JIWp Try b4u buy lets employers figure out who they like $$ Aug 15, 2013
Problems With Authority http://t.co/JjIgnIJVEh Obama ignores unusual writ of mandamus, which compels the govt 2fulfill a legal obligation $$ Aug 14, 2013
Everything you know about immigration is wrong http://t.co/UpHiI0Wwfd Militarizing the border did not stop the flow in, did stop flow out $$ Aug 13, 2013
Encryption App Silent Circle Shuts Down E-Mail Service ‘To Prevent Spying’ http://t.co/95KCJt80mH Destroying data 2 preserve secrecy $$ Aug 13, 2013
Eric Holder Owes the American People an Apology http://t.co/07JtmV95QA Vastly overstated the efficacy of mortgage relief programs $$ Aug 13, 2013

Housing

Report: Half of All Homes Are Being Purchased With Cash http://t.co/p9GF4dOBUz Good sign. More equity means greater sustainability $$ Aug 15, 2013
Baltimore Foreclosures Surge Again as Legal Logjam Breaks http://t.co/xphbxvRXjv Foreclosures take longer 2work out in judicial states $$ Aug 15, 2013
Why Home-Price Growth Will Slow http://t.co/IZaE08udfI Prices up, mortgage rates up, fewer distressed homes available 4 sale $$ Aug 13, 2013

Other

Mom, Dad, Sorry I Was So Expensive http://t.co/VakZSkmE3r If u think having children is expensive, imagine the $$ of a society w/out them Aug 15, 2013
DNA Sequencing of Tumors Brings Hope of New Lung-Cancer Drugs http://t.co/YRul3Gfiva Costs high, distinguishing between diff cancers worx $$ Aug 13, 2013
Companies Ease Up on Non-Compete Agreements http://t.co/iEhtgQ7qjq Restraint of Trade laws also make it difficult to enforce non-competes $$ Aug 13, 2013
Overhaul Proposed for Annual Audit Reports http://t.co/8LAgJf5rrU Could b good 2 get past the the present binary pass/fail $$ Aug 13, 2013
Stocktwits ? Happy 5th Anniversary http://t.co/AQ8vI1kOsC @howardlindzon extols efforts made as they r the premier social investing site $$ Aug 13, 2013
Browser wars: Chrome rules the web http://t.co/QoGqVlVNcI The sun never sets on the Empire of Google’s Chrome; IE dying, Firefox choking $$ Aug 13, 2013

On Fiduciaries

On brokers as fiduciaries, choose: mixed advice, paid for by commissions, best advice, but u have to pay more 2a fiduciary, or no advice $$ Aug 13, 2013
You Can’t Afford Your Broker, at Any Price http://t.co/C46ndiTx6U by @asymmetricinfo on holding brokers 2a fiduciary standard $$ Aug 13, 2013
Look Who?s Locking Horns Over Retirement Accounts http://t.co/xSRFtbFndD @jasonzweigwsj tells us 2 act as our own fiduciaries or hire one $$ Aug 13, 2013

Wrong

Wrong: Don?t Kill Fannie Mae http://t.co/JqDk0kNJM5 People forget the incredible losses on prime mortgages when housing prices fell $$ Aug 15, 2013
Dumb: Retirees in Enemy Territory Go Door-to-Door on PPACA http://t.co/4xSgHH2qNL Won’t work unless young & healthy sign up on exchanges $$ Aug 14, 2013
Wrong: Your mortgage documents are fake! http://t.co/rErbfMzP7B Mistakes procedural justice 4 real justice. U don’t pay, U get foreclosed $$ Aug 13, 2013
Wrong: In defense of the 30-year mortgage http://t.co/cc9kgtRJpM Over-investment in housing & levers up the economy, creating fragility $$ Aug 13, 2013

Replies, Retweets, & Comments

RT @TheLimerickKing: QE has not led to inflation It’s now a much worse situation Velocity’s low But risk assets grow So now it’s just wealt? Aug 15, 2013
Commented on StockTwits: No, I don’t. Ultimately all assets boil down to their cash flows. This doesn’t change th… http://t.co/xjshS62La2 Aug 14, 2013
A shout-out to DarkCloud @p0stk0m for being my 8,000th Twitter follower. Thanks a lot, & thanks to all who follow me $$ Aug 14, 2013
@marketfolly @EquityNYC That is a very good point, and I internally noted it, but did not comment. I should have. 🙁 $$ Aug 14, 2013
“Congratulations, Howard. Well done, particularly the way you survived Twitter’s $ grab.” -Merkel http://t.co/tOlvvEqy0P @howardlindzon $$ Aug 12, 2013

Sorted Weekly Tweets

Posted on 5 July 2013 by David Merkel

Bond Markets

Pimco Sells Canadian Provinces After Worst Rout Since ?94 http://t.co/POYIjfboYV Fascinating 2c everything hit after shift in Fed Lingo $$ Jul 05, 2013
Fund Manager Ducks Mortgage Trouble?at His Peril http://t.co/SX3sFQ0jX5 When Krsnich can’t find mtges worth investing in, he gives $$ back Jul 05, 2013
Wealthy Americans Benefit From Banks Hunting Jumbos http://t.co/FJbeZimpim Jumbo 5/1 ARMs 0.09% under prime, 30Y fixed 0.16% over prime $$ Jul 03, 2013
Gross Caught in TIPS Trap Gundlach Sidestepped in Tumble http://t.co/aT1cJZv0wh Until 2 months ago, TIPS had expectations 4a rising CPI $$ Jul 03, 2013
Bond Market’s Memo To The Fed: This Is Not A Misunderstanding, This Is A Blow-Up http://t.co/jLBbFDT7f1 Expect short rates 2 rise: Boom! $$ Jul 02, 2013
Bernanke’s Misfired Shot Heard ‘Round The World http://t.co/AlsbrOpGht The bond market understands the Fed; Fed doesn’t get the bond mkt $$ Jul 02, 2013
Who Goes to Cash Shows Extent Bonds Will Become Bear Market http://t.co/atkAmUbJoK Worries over a self-reinforcing rout a la 1994 $$ Jul 01, 2013

Rest of the World

Obama Call for Muslim Brotherhood Role Overtaken in Egypt http://t.co/eJquVIdGED Democracy is only as good as marginal person who votes $$ Jul 05, 2013
Few Roads Leading to China Tell Tale of Mongolia Fears http://t.co/O9KIR9lc5i Long article on Mongolia/China frictions & opportunities $$ Jul 05, 2013
Mobius Weighs Private Equity as Way to Access African Growth http://t.co/m3D1CKiFeF The world has changed, if Africa is investable $$ Jul 05, 2013
Toronto?s soaring condo market ignites fears of a US-style crash http://t.co/LYnhx5dK8l That is what u r facing a US-style crash, sorry $$ Jul 05, 2013
Britain’s baby boom will affect our economy more than anything Mark Carney does http://t.co/ti8aiU4jFX Demography is destiny, no doubt $$ Jul 05, 2013
Lottery Raided as $115 Billion Hole Filled http://t.co/vvyH4CE6pN Appreciate the growing Argentine Kleptocracy 4 what it is, a failure $$ Jul 05, 2013
The US Should End the Cuban Embargo http://t.co/aU6562c3BM The ability 2 trade w/the US will increase demand 4 more freedom in Cuba $$ Jul 03, 2013
Emerald Thieves Brave Dogs to Sap Zambia?s Gem Revenue http://t.co/4TKAKutxxP People will take many risks in order 2 take care of family $$ Jul 03, 2013
Mursi No Longer Egyptian President After Military Action http://t.co/VuyzxXCU8s Now 2c how much public & Brotherhood supports military $$ Jul 03, 2013
Loan Practices of China?s Banks Raising Concern http://t.co/QdOVNNx1q8 Lure depositors into illiquid nonguaranteed products w/high yields $$ Jul 03, 2013
Portugal Resignation Rocks European Markets http://t.co/v3bEhcXwrW Foreign minister resigns, Yields Rise Sharply, Stocks Fall in Europe $$ Jul 03, 2013
Looking abroad for better investment http://t.co/ayUAUFNU5l Not only investment, but a better place to live. Well-off Chinese try2leave $$ Jul 02, 2013
Chinese Malls Waive Rents as Vacancies Loom http://t.co/lpWb0yQV75 How do the malls stay afloat in the long run? Banks will loan 2 them? $$ Jul 02, 2013
Unrest Roils Egypt as Army Deadline Moves Markets http://t.co/mddmYI82I7 Stocks rally; in some nations, stability of army rule is prized $$ Jul 02, 2013
Give Us Your Real Dollars for Our Fake Dollars: http://t.co/ioBcU1N2U7 Argentine govt attempts to soak up USDs held by citizens 4 itself $$ Jul 02, 2013
Syria?s Annual Inflation Hits 200% http://t.co/QsqIPNc52G Wars, especially civil wars r ripe to create inflation, even Sun Tzu knew that $$ Jul 02, 2013
EU Leaders Set to Slow Support for Ailing Banks http://t.co/yrwTgNbqor ?Banking union is, to all intents and purposes, dead.” $$ Jul 01, 2013
Tempers fray in France as drastic cuts loom http://t.co/l8EPQPKCQ4 Eurozone will end with France withdrawing, it is too big to bail out $$ Jul 01, 2013
After the liquidity crunch http://t.co/sAp85eE4GH Keeping inter-bank interest rates stable – a key to $$ policy – is not yet a policy target Jul 01, 2013

Companies & Industries

Why Are California’s Businesses Disappearing? http://t.co/CdRcmrWZ6s The right Q is “Why Do Any Businesses in California Decide to Stay?” $$ Jul 05, 2013
Answer: Clumps of talented people & industries that would b difficult to relocate. Network effects that would b tough 2 duplicate $$ Jul 05, 2013
& a bunch of clever people built their biz there, & don’t want to leave their poorly-run home state, same as MD http://t.co/3Bm0REbYGc $$ Jul 05, 2013
Inland US refiners hit by collapse in Brent-WTI oil spread http://t.co/79yEHqYvLt Adequate tankcars send gas prices down in CA up Midwest $$ Jul 05, 2013
Truckers Are Losing Sleep Over 70-Hour Workweek Limit http://t.co/aXRhVvq6er It pushes trucking costs up, causes industry to complain $$ Jul 03, 2013
Samsung Slides Equivalent of Sony as S4 Sales Disappoint http://t.co/aae6GoUdPe Smartphones become a commodity business; multiples drop $$ Jul 01, 2013

US Health Insurance

Health-Law Employer Mandate Delayed by US Until 2015 http://t.co/f4waOST0ax A small boon 2 employers who hire many unskilled workers $$ Jul 03, 2013
Long-Term-Care Insurance Gap Hits Seniors http://t.co/QkWlGDfCdA No surprise. Long-term care is not insurable. Companies lose $$ ;prems go ^ Jul 02, 2013
Health-Insurance Costs Set for a Jolt http://t.co/C4B8c2FzUj For the Healthy, Rates Will Soar Under New Law; Sicker Consumers 2c Relief $$ Jul 01, 2013
Obamacare 1.0: States brace for Web barrage when reform goes live http://t.co/1YU4Bey8ZL Biggest unforced policy error inflates premiums $$ Jul 01, 2013

US Politics & Policy

Elizabeth Warren Tackles Wall Street http://t.co/3HjkAZcuNY Article begins about Warren, ends w/complaints about the unaccountable Fed $$ Jul 03, 2013
10 things Social Security won?t tell you http://t.co/G7JIC1fK68 Small error: SS benefits will be cut in 2026, not 2033, but a good piece $$ Jul 03, 2013
Exclusive: Edward Snowden’s father suggests son’s leaks may be protected by Constitution http://t.co/1ZOiwHqKYj Sad 2c a father lose son $$ Jul 02, 2013
How Not2Misunderstand Scalia http://t.co/HETEmoM4yd Some ethics r not in Constitution; Congress makes sum unethical laws constitutionally $$ Jul 02, 2013
IOW, Scalia looks2 original intent of Constitution; where it is silent, that means Congress has power to act, & can lead 2 unethical laws $$ Jul 02, 2013
The Criminal NSA http://t.co/mK1wulNL0t 4th Amendment obliges government 2demonstrate probable cause b4 conducting invasive surveillance $$ Jul 01, 2013
FBI?s Data Mining Needs Scrutiny, Too http://t.co/eeuDaL6IYK We need to move back 2 limited government & realize terror is a small threat $$ Jul 01, 2013
Simons Strategy to Shield Profit From Taxes Draws IRS Ire http://t.co/vKAKFfbQja Another reason why investors should be taxed as traders $$ Jul 01, 2013
Last tweet: it also helps explain y all income should be taxed at the same rate, with no ability to defer income taxes $$ Jul 01, 2013
Uninsurable Risks http://t.co/ezcqpSiYmt I’m not worried about climate, that’s cyclical, but abnormal $$ policy is running into the wall Jul 01, 2013
US Economy:7 Critical Indicators of Potential Recession Flashing RED http://t.co/sSTItHGd6J YOY declines 4 7 indicators:hi recession odds $$ Jul 01, 2013

US Monetary Policy

How Fed?s 7% Jobless Avoids Deterring Bondholders Is Mystery http://t.co/tcqXDr1KBt It confuses & it raises the path of forward rates $$ Jul 02, 2013
How Sensitive we are to Interest Rates: A Scary Picture? http://t.co/Re8aDixkFf Central banks will do all they can to keep rates low $$ #FTL Jul 02, 2013
Sizing Up Bank Risk Using VAR Is a Stab in the Dark http://t.co/wi3ZJsod1u Only long-term stress testing is adequate 2 manage risk $$ Jul 02, 2013
Fed Voting to Bring US Capital Rules in Line With Basel http://t.co/BiCBh3Y4MR Basel offers 2much flexibility 2mgmt teams 2 shape result $$ Jul 02, 2013

Other

Doug Engelbart Delivered the Mouse and Other Large Inventions http://t.co/jxo6H50Xk2 Died @ 88, made a lot of $$ 4 others, changed computers Jul 05, 2013
Confessions of a Stay-at-Home Mom http://t.co/Sc3J3oj1QX True 4 men 2; employers pay less to those who won’t sacrifice home 4 work $$ Jul 03, 2013
Single-Father Households Are Growing Much Faster Than Single-Mother Ones http://t.co/B1kUluZxxt Still, the real problem is female poverty $$ Jul 02, 2013
Cheating Wives Narrowed Infidelity Gap Over Two Decades http://t.co/6VhGcyBDPl We can make women bad, but we can’t make men good $$ #sad Jul 02, 2013
Ellison Speeds Up America?s Cup With Flying Cats in Spectacle http://t.co/uqD71IjSkU He has remade the America’s Cup, & made it hi-tech $$ Jul 02, 2013
Gold Traders Seeking Floor After $66B Rout http://t.co/s0xwQdqtx2 Not much different than any market fallen hard: where’s the bottom? $$ Jul 02, 2013
Of course, what’s new with gold is all of the derivative activity going on around ETPs, the facility of trading paper gold, etc. $$ Jul 02, 2013
The Cost of Cashing Out Your Life Insurance Policy http://t.co/4hra2qGlMK Selling a policy 2a third party has tax and other implications $$ Jul 01, 2013

Wrong

Wrong: Odds you?ll save enough to retire? 50/50 http://t.co/cMPTzPiESe Sorry, but the odds are lower. The writer does not understand. $$ Jul 05, 2013
Wrong: Warren Buffett: More myth than legend http://t.co/SJZEmEc9MW Buffett runs so much money he can’t run it like a value index fund $$ Jul 03, 2013
Wrong: Fed Ready for September Taper After Shocking Market, Meyer Says http://t.co/M70XlUXbNP Fed will find it very difficult 2 taper $$ Jul 03, 2013

Replies, Retweets & Comments

RT @JamesGRickards: Just in case you think the #Fed has any idea what they are doing, this graph will cure you of that delusion. http://t.c? Jul 05, 2013
@OccupyWallSt @JamesGRickards Given that most babies born @ 20 weeks, aided by technology would survive, abortion after that is infanticide Jul 04, 2013
. @davidmanheim I’ve known too many truckers & I would b loath 2 take bread from them; bankers r another matter & should b regulated tightly Jul 03, 2013
. @davidmanheim Could b… 1 of the few professions that works as long & hard as investment bankers (w/externalities). Hey Comparable Worth! Jul 03, 2013
. @ProForexCourse Nothing has intrinsic value; it’s all a question of how much u r willing to exchange of A for B at a given moment in time Jul 03, 2013
@wggm Macro plays a role in my bond investing, not so much with stocks Jul 03, 2013
@wggm I think the Fed will find that it can’t reduce the flow of policy accomodation without violent reactions like this w/weak economy Jul 03, 2013
@marcmakingsense @ballenmo Still, the amount of gold used 4 industrial purposes is piddly compared to uses 4 jewelry, bars & coins Jul 01, 2013
. @stockbets I am sorry but I have seen many cases where arithmetic averages r put into simulations as if they r geometric averages $$ Jun 30, 2013
. @davidmanheim BP’s sloppy safety record is the main issue, but this article is about grifters wanting to score when they weren’t hurt $$ Jun 30, 2013
. @ballenmo You are right, gold does nothing, & that is why it is valuable http://t.co/pojnNG1fkE Gold is anti-financial repression $$ Jun 30, 2013

Sorted Weekly Tweets

Posted on 15 June 2013 by David Merkel

Data Privacy

Many in Media Claim Bradley Manning’s Leaks Had Little Value?Here’s Why They’re So Wrong | The Nation stks.co/jZXy Who knew? $$
Congress grills intelligence officials on data-gathering practices stks.co/qGqB Issue doesn’t divide neatly by political party $$
Noonan: Privacy Isn’t All We’re Losing stks.co/hZsF “…you can’t give up your own liberty and your own freedom.” $$
US Agencies Said to Swap Data With Thousands of Firms stks.co/gZcv Not paranoid? That doesn’t mean they aren’t coming 2get u $$
How Rand Paul Can Take On the NSA stks.co/pGjI We need to rethink the conditions under which the govt may do surveillance on us $$
Pardon Edward Snowden wh.gov/liZnR I support this petition at whitehouse.gov $$
US Relies on Spies for Hire to Sift Deluge of Intelligence stks.co/aXgm I have many friends involved in this; they keep quiet $$
Booz Allen Grew Rich on Government Contracts stks.co/qGMz Thus all the radio advertisements you hear if you live near DC $$
Edward Snowden: the whistleblower behind the NSA surveillance revelations stks.co/pGCi Rare person who put US ahead of self $$

Rest of the World

Korean Tiger Moms Scrimp for Tutors in Blow to Spending stks.co/bY3b The solution is home schooling, should it b legal in SK $$
Italian showdown with Germany over euro looms closer stks.co/bXwF A halt2fiscal & monetary contraction, or full-blown reflation $$
Southern Europeans Flee to Germany: OECD stks.co/tGdg If the jobs won’t come to the people, the people will go to the jobs $$
On Iran?s Inflation Bogey stks.co/gZQP Iran’s inflation rate may be over 100%/year $$
What Abenomics tells us about the great bond market asset bubble stks.co/jZFc Japan is a bug in search of a windshield $$
Consumer Price Inflation Slows in China stks.co/gYzR & so does the rest of China’s economy, rebalancing will b painful $$
Denmark Seeks to Pass Too-Big-to-Fail Bank Laws in Parts stks.co/jYj7 SIx large financial companies will require more capital $$

Companies & Industries

Surge in US oil-by-rail suffers first slowdown as spreads slim stks.co/qGqK Start of a new trend, or just a blip? $$ #blip #trend
Lampert Uses $393M in AutoNation for Redemptions stks.co/gZcw Future historians will wonder why Lampert received attention $$
Comcast Is Turning Homes Into Public Wi-Fi Hotspots stks.co/sGaQ Gateway transmits 2signals; separate SSIDs 1 public, 1 private $$
Berkshire to Provide More Insurance Cost Details stks.co/bXuO All of this data is already freely available, ask4statutory files $$
Cisco plans to double the speed of the Internet stks.co/iZXI | FD:+ $CSCO Fascinating new technology will increase net capacity $$
Freeport Declares Force Majeure on Grasberg Copper Shipments stks.co/gZTc Rare 2c Force Majeure invoked; reveals supply issues $$
Insurers Inflating Books, New York Regulator Says stks.co/iZTl My response: stks.co/fZQE How do I contact DealBook? $$
Insurers Inflating Books, New York Regulator Says stks.co/sGPY Life insurers do this 2 strip out extra conservatism in reserves $$
A Rising Star Emerges at Berkshire stks.co/pGYd Bright lady Tract Britt takes over David Sokol’s old role @ Berky $$ FD: + $BRK.B
Anglo American Miner Slogs Ahead in Brazil stks.co/rG6r Rare people walk away from bad sunk costs; no walking away here $$ $AAUKY
Google to buy Waze for $1.3B stks.co/aXV7 Improves $GOOG ‘s maps capability, while denying the same asset to $AAPL & $FB $$

Market Impact

Price Benchmarks Said to Be Rigged in the Foreign Exchange Market stks.co/sGjl Should not b surprised; humans try2rig markets $$
Regulators Question Banks on Business Lending Risks stks.co/fZV2 Perhaps regulators r being more active this credit cycle $$
US Banks Margin Under Tremendous Pressure stks.co/rGeA Few safe places to lend at any significant spread over funding costs $$
Banks Get Reprieve on New Swaps Rule stks.co/jZPA Get 2 more years 2 place derivatives in special subsidiary 4 close regulation $$
The trick to bank profits stks.co/tGZB Sadly, reserves r not forward-looking but suffer from driving via the rearview mirror $$
Wrong: Interest Rates are Headed Higher. Are You Ready? stks.co/eXy4 This is a consensus view; global economy is weakening $$
Earnings Roundup: Second-quarter Earnings Guidance Among the Most Negative on Record stks.co/jZFb Could mean positive surprises $$
Fear of Missing Out Sparks Covenant Light Lending; ‘Return of the Silly Season’ stks.co/pGYc Credit cycle boom is getting late $$
These CDO Names Don’t Cry ‘Wolf’ stks.co/hZCu Doesn’t matter *what* you call them, CDOs lever up credit risk til next bear mkt $$
Intelligent Investor: What?s Eating Munis? stks.co/iYsP @jasonzweigwsj tells us 2 beware getting gouged on muni bond trading $$
Hulbert on Investing: Why ‘Boring’ Stocks Beat ‘Exciting’ Ones stks.co/dXCa Long-term, low vol has been a winner. Short-term?? $$

Monetary Policy

Fed Likely to Push Back on Market Expectations of Rate Increase stks.co/tGmK Gives the Fed 2much credit; they don’t have a clue $$
The Fed’s other trillion dollar problem stks.co/pGjZ Will b challenging 2 lower the amount of excess deposits @ the Fed $$
The Trapdoors at the Fed?s Exit by Nouriel Roubini stks.co/cXNh Will b difficult 4 Fed 2 remove policy accommodation $$

US Politics & Policy

White House Aims to Loosen Grip on Government-Held Wireless Spectrum stks.co/hZsO As it should b, govt has 2much spectrum $$
Camp Warns Against Cap on Charitable Break in Tax Rewrite stks.co/cXsG Private charity can do things govt can’t &more effective $$
FCC hopes to avoid ‘end of world’ for cell phones stks.co/cXrm Allocation of more bandwidth 2 mobile data would help $$
Urgency on debt issue fades, but underlying danger remains stks.co/qGAq W/deficit declining, the need to agree declines as well $$

Other

Larry Ellison’s Fantasy Island stks.co/iZhG Lanai benefits from the benevolent dictatorship of Larry Ellison $$
Blimps Morph Into Cargo Haulers as Maker Sees Revolution stks.co/fZdT Engineered concept of variable buoyancy; goes up/down $$
Hire Economics: Why Applying to Jobs Is a Waste of Time stks.co/aXwB Networking is more important than job boards, etc. $$
Drinking Water Runs Low as Drought Drags On stks.co/gYoc Weather isn’t fully random; correlated in short-run, thus droughts $$

Comments, Replies & Retweets

@dpinsen Pipelines – high fixed, low variable costs. Railcars – high variable, low fixed costs. Getting pipelines over mountains is tough
@Undertherock3 I’m a skeptic on $GNW. I don’t trust their reserving, underwriting, etc. Low ROE justifies the low P/B.
@Undertherock3 Are you talking about Genworth? $GNW
@AlephBlog The best is “there is no way to get rich quick (eg Kyosaki). Snake oil salesman will always exist, learn to identify them & avoid
“This deal will get done after it is sweetened a little” ? Merkel disq.us/8die83 $$ $DOLE DeJa Vu: Murdock Wants to Go Private Again

Sorted Weekly Tweets

Posted on 8 June 2013 by David Merkel

Market Impact

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

US Politics

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

Europe

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

Companies & Industries

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

Asia

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

Other

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

Finance

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

FWIW

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