Weekend Reading

Quote of the Week:

We are no longer in a systemic financial crisis, and the Fed’s motives have become subtly corrupted. Having argued during the boom that it was not the business of central banks to stop asset bubbles – and specifically that any fall-out could “safely” be cleaned up later – Bernanke now seems too determined to validate this absurd doctrine, bending all the sinews of the US economic and financial system to this end. One error leads to the next.

~Ambrose Evans-Pritchard,  in the Daily Telegraph

Links for the Week ending Nov-06, 2010

Finance / Economics

  • A great, six-part interview from Miguel of SimoleonSense with Warren Buffet’s biographer, Alice Schroeder. (SimoleonSense)
  • Plenty of examples in this Wall Street Journal article of companies facing margin compression due to rising commodity prices. “Growth in Profit, But Concerns Over Sales” (WSJ)
  • Will Currencies be the main driver of investment returns over the next few years? “Four Rather Sick Patients” (Absolute Return Partners)
  • Goldman outlines the thesis for QE2 then points out the flaws. “Goldman: Here’s the Bulls’ Cliffs Notes on QE2 and Stocks” (WSJ)
  • Rosenburg on Deflation, Margin Compression and More. “Breakfast with Dave” (zerohedge)
  • Are corporations sacrificing long-term growth for short-term gains in profit margin? “R&D Spending Declines First Time in Decade” (Mish)
  • El-Erian on why the consensus opinion that political gridlock is good for the economy may be wrong for the current economic landscape. “We’ve Voted. What’s Next For the Economy?” (PIMCO)


  • Two interesting pieces on the collaboration and relationship between two of rocks legendary pairs.
    • Mick Jagger and Keith Richards: “Please Allow Me To Correct a Few Things” (Slate)
    • Paul McCartney and John Lennon: “Two of Us” (Slate)

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