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)

Non-Financial

  • 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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