Links

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Weekend Reading: 23-24 February 2019

Global Macro / Markets / Investing: Mysterious 8,500% Stock Gain Attracts Big Funds (And Big Questions) – Bloomberg Warren Buffett Can’t Find Anything Big to Buy – WSJ Don’t Abolish Billionaires – NY Times Deutsche Bank Lost $1.6 Billion on a Bond Bet – WSJ The Rise of the WeWorking Class – NY Times Look Who’s

36

Links 22 February 2019

Global Macro / Markets / Investing: Deutsche Bank Lost $1.6 Billion on a Bond Bet – WSJ Global Recession Fear Is Suddenly Stalking the Credit Market – Bloomberg Stressed Outflows and the Supply of Central Bank Reserves – NY Fed Deficits are Raising Interest Rates. But Other Factors are Lowering Them. – Medium Amazon’s $0

41

Links 21 February 2019

Global Macro / Markets / Investing: A Centuries-Old Idea Could Revolutionize Climate Policy – The Atlantic What’s Really in Your Index Fund? – NY Times This Hedge Fund Reaps Huge Returns But It Doesn’t Want Your Money – Bloomberg The 2018 Global Corporate Venture Capital Report – CB Insights Investors Sound Warning About Markets’ Complacency

14

Links 20 February 2019

Global Macro / Markets / Investing: The Bank for Japanese Farmers That Fuels the Global Lending Market – WSJ Global Slowdown Leaves Growth Weakest Since Financial Crisis – Bloomberg The perils of Big Data: How crunching numbers can lead to moral blunders – Washington Post Americas: Elizabeth Warren To Unveil Major New Child Care Initiative

38

Links 19 February 2019

Global Macro / Markets / Investing: Bill Gates Says Taxing Capital Gains Is the Best Way to Tap Big Fortunes – Bloomberg Foreign selling of U.S. Treasuries in December hits record high -data – Reuters Pricing algorithms can learn to collude with each other to raise prices – Tech Review The risky ’leveraged loan’ market

40

Links 18 February 2019

Global Macro / Markets / Investing: Time to Panic – NY Times Tech Stock Bubbles In the 17th Century – Bloomberg Amazon paid no federal taxes on $11.2 billion in profits last year – Washington Post Fed Will Probably Change Its Approach to Inflation, Dudley Says – Bloomberg Amazon Isn’t Interested in Making the World

534

Weekend Links, 16-17 February 2019

Willunga Landscape, Horace Trenerry, 1947, Art Gallery of NSW   Macro & Markets Hedge Funds Play Tug-of-War With the Volatile Australian Dollar – Bloomberg One Weird Trick for Avoiding Bad Chinese Bonds – Bloomberg Brazilian mine tragedy will not be the last tailings dam disaster – Reuters, Home China’s coal imports surge, but prices tell

47

Links 15 February 2019

Global Macro / Markets / Investing: What’s Wrong With Functional Finance? – NY Times How a Nasdaq Loophole Fueled One Stock’s Rise of 3,750% – WSJ The libertarian fantasies of cryptocurrencies – FT Would Your Portfolio Survive a Nuclear Incident? – Barron’s Cisco Boosts Dividend, Buyback Program After a Strong Quarter – WSJ ETF Tied

28

Links 14 February 2019

Global Macro / Markets / Investing: Wealth Inequality Is Way Worse Than You Think, And Tax Havens Play A Big Role – Forbes Bill Gates tweeted out a chart and sparked a huge debate about global poverty – VOX A hedge fund’s ‘mercenary’ strategy: Buy newspapers, slash jobs, sell the buildings – Washington Post Bill

28

Links 13 February 2019

Global Macro / Markets / Investing: Vanguard investment chief sees near 50-50 chance of recession in 2020 – Reuters Plunge in crypto sets stage for Facebook and other tech giants to hire blockchain experts – CNBC Inflation: Stress-Testing the Phillips Curve – FRBSF The 34-Year-Old Hedge Fund Manager Who Bet Everything On A Stock That

31

Links 12 February 2019

Global Macro / Markets / Investing: Bezos Selfie Controversy Triggers Alarm For Billionaires Worldwide – Bloomberg Wealth concentration returning to ‘levels last seen during the Roaring Twenties,’ according to new research – Washington Post Tesla Is Cranking Out Model 3s—Now It Has to Service Them – WSJ Plummeting insect numbers ’threaten collapse of nature’ –

35

Links 11 February 2019

Global Macro / Markets / Investing: I’ve covered nine financial crises since the 1960s. Here’s what I learned – The Guardian Bezos Selfie Controversy Triggers Alarm For Billionaires Worldwide – Bloomberg The case for an active fiscal policy – VOX Trade war opens commodity floodgates – Nikkei Asian Review Two hundred years of health and

568

Weekend Reading: 9-10 February 2019

Global Macro / Markets / Investing: Who Wants to Be a Billionaire? – Bloomberg Abolish Billionaires – NY Times Fightback against the billionaires: the radicals taking on the global elite – The Guardian The Good Jobs Challenge – Project Syndicate Americas: Russian-Style Kleptocracy Is Infiltrating America – The Atlantic ‘Too hot to handle’: Pelosi predicts

55

Links 8 February 2019

Global Macro / Markets / Investing: There’s No Good Reason to Trust Blockchain Technology – Wired Domestic Investors Pick Up U.S. Debt When Foreign Creditors Won’t – WSJ Asset Managers Pin Hopes on a Comeback for Active Management – Institutional Investor How Japan (Eventually) Changed the World With Zero Rates – Bloomberg Bad Manager Picks

40

Links 7 February 2019

Global Macro / Markets / Investing: Even God Couldn’t Beat Dollar-Cost Averaging – Of Dollars & Data A hole big enough to fit two-thirds of Manhattan has formed under an Antarctic glacier – NBC Here Are the Finance Firms Cutting Jobs After Turmoil in Markets – Bloomberg Goldman Plans Cuts in Commodities Trading as New

69

Links 6 February 2019

Global Macro / Markets / Investing: Former Tesla workers paint grim picture of Buffalo plant – WIVB Has Facebook been good for the world? – VOX Crypto Exchange Says It Can’t Repay $190 Million to Clients After Founder Dies With Only Password – Gizmodo The global economy’s second sun – FT January’s Stock-Market Rally Revives

62

Links 5 February 2019

Global Macro / Markets / Investing: Bitcoin dealer seeks credit protection – Times Colonist How to tax the rich – The Economist Measuring functional specialisation in trade – VOX Taxing the Wealthy Sounds Easy. It’s Not. – NY Times Why ETFs Will Shine This Tax Season – Barron’s A Bitcoin-Backed Stablecoin Has Launched on the

39

Links 4 February 2019

Global Macro / Markets / Investing: Everything You Know About Global Order Is Wrong – Foreign Policy Google Employees Are Fighting With Executives Over Pay – Wired Resentment of the Wealthy Is Not a Policy – Bloomberg America Is Producing the Wrong Kind of Oil – Bloomberg Do not underestimate the risk of an iron

490

Weekend Links 2-3 February, 2019

Jitterbugs, 1945, Weaver Hawkins, Art Gallery of NSW   Markets Macro & Investing The Sorry State of the World Economy – Project-Syndicate, Basu Trump hails China trade talks progress and says he will meet Xi Jinping soon – Guardian China says Washington trade talks were ‘frank’ and made ‘important progress’ – SCMP Donald Trump hails

83

Links 1 February 2019

Global Macro/Markets Central bank gold-buying reaches half-century high– Financial Times OPEC oil output drops in January on Saudi cut, outages and sanctions – Reuters Americas Family Behind OxyContin Maker Made Billions, Say Court Papers – Wall Street Journal Sarah Sanders: God ’wanted Donald Trump to become president’ – The Hill (same God who gives kid’s terminal cancer?) U.S.

46

Links 31 January 2019

Global Macro/Markets The Shutdown Is Making it Harder for Economists to Understand the Shutdown – Time (now that’s some 3D Trump Chess going on there!) Malpass emerges as leading contender to head World Bank – Financial Times No correlation between top tax rates and growth rates – On The Economy The Case for More Short Selling – Institutional Investor

36

Links 30 January 2019

Global Macro/Markets Powell faces early reckoning on Fed’s $4-trillion question– Reuters A Better Way to Tax the Rich – New York Times The U.S. Has Slipped out of the Top 20 Countries in a Worldwide Corruption Index – Time Americas Top GOP senators propose repealing estate tax, which is expected to be paid by fewer than 2,000

34

Links 29 January 2019

Global Macro/Markets Howard Marks: The Wisdom of a Value Superinvestor – moiglobal.com Yes, There Are Individual Economists Worth Paying Respect to. But Is Economics Worth Paying Respect to?  – Brad DeLong (in a word, no) US coal output forecast to fall despite Trump revival efforts Financial Times Americas Unemployment is low only because ’involuntary’ part-time work is

54

More Australia Day Weekend Links: 28 January 2019

The Flood of the Darling 1890, W.C. Piguenit, 1895, Art Gallery of NSW   Tomorrows links up a tad early due to 600 plus comments on the weekend links…..   Macro Markets & Investing The World Economy Just Can’t Escape Its Low-Growth, Low-Inflation Rut – NY Times The growing problem that could lead the world

681

Australia Day Long Weekend Links: 26-28 January 2019

Global Macro / Markets / Investing: Einhorn’s Greenlight Hit by Investor Redemptions – WSJ Ray Dalio’s Hedge Fund Dumped By Tiny County Fed Up By Fees Sapping Return – Bloomberg George Soros: The AI Threat to Open Societies – Project Syndicate Hedge fund prepares proxy fight to oust board at embattled PG&E – Reuters Record

21

Links 25 January 2019

Global Macro / Markets / Investing: How Elon Musk’s secretive foundation hands out his billions – The Guardian Amazon debuts its adorable delivery robot called Scout – CNBC The Global Boom, Barely Begun, May Be Over – WSJ Tesla slashed Model S and X staff in recent layoffs – CNBC Despite Bitcoin’s Dive, a Former Soviet

18

Links 24 January 2019

Global Macro / Markets / Investing: The super rich at Davos are scared of Alexandria Ocasio-Cortez’s proposal to hike taxes on the wealthy – CNBC Alexandria Ocasio-Cortez’s Tax Hike Idea Is Not About Soaking the Rich – NY Times Chilling Davos: A Bleak Warning on Global Division and Debt – NY Times Corporate America Is

51

Links 23 January 2019

Global Macro / Markets / Investing: World’s 26 richest people own as much as poorest 50%, says Oxfam – The Guardian The top 26 billionaires are as wealthy as 3.8 billion people – CNN Make No Mistake, Davos, the Fat Cat Backlash Is Coming – Bloomberg Davos Billionaires Keep Getting Richer – Bloomberg Debt machine:

39

Links 22 January 2019

Global Macro / Markets / Investing: Davos Billionaires Keep Getting Richer – Bloomberg Advocates of an open economy face rough road – FT Disney is already losing over $1 billion in streaming, and its Netflix competitor has yet to launch – CNBC ’The goal is to automate us’: welcome to the age of surveillance capitalism

26

Links 21 January 2019

  Macro & Markets The world favors immigration and working with other countries, WEF report claims – CNBC…a WEF report would… Why the Quants Aren’t Adding Up – Bloomberg China offers 6-year plan to boost US imports and erase imbalance – Nikkei Asian Review ‘Bear Market’ Is an Arbitrary Label, but Using It Can Hurt