Links

449

Weekend Reading: 16-17 March 2019

Global Macro / Markets / Investing:  White House believes big US-China trade deal could rocket Dow 2,000 points; Investors say devil is in the details – VOX Sharp rise in Arctic temperatures now inevitable – The Guardian Modern Monetary Theory – survey of academic economists – IGM Stock Buybacks Aren’t Bad, Just Misused & Abused

45

Links 15 March 2019

Global Macro / Markets / Investing: When Elon Musk Tried to Destroy a Tesla Whistleblower – Bloomberg Amazon gets an edge with its secret squad of PhD economists – CNN How GE Built Up and Wrote Down $22 Billion in Assets – WSJ The Rise of Silicon Valley’s New Mafias – NY Times This Negative-Fee

42

Links 14 March 2019

Global Macro / Markets / Investing: This Negative-Fee ETF Will Pay Investors to Invest – Barron’s Goldman Sachs to Open Up In-House Moneymaker to Outside Investors – WSJ Low Inflation Is Federal Reserve’s Maddening Unsolved Mystery – Bloomberg Monetary policy has run its course – FT Ballooning US debt piles put investors on guard –

27

Links 13 March 2019

Global Macro / Markets / Investing: MMT Has Been Around for Decades. Here’s Why It Just Caught Fire – Bloomberg Amazon to end price practice critics said could violate antitrust law – Axios How the Internet Travels Across Oceans – NY Times The US, China and the return of a two-bloc world – FT Global

53

Links 12 March 2019

Global Macro / Markets / Investing: Riskier Stocks Are Paying Off – WSJ Central Banks Play a Game of Risk Management – WSJ The Gazillion-Dollar Standoff Over Two High-Frequency Trading Towers – Bloomberg Here’s Where to Find the World’s Super Rich, From Paris to Tokyo – Bloomberg The Perfect Bull Market Portfolio Might Have Blown Up

32

Links 11 March 2019

Global Macro / Markets / Investing: Tesla has a self-driving strategy other companies abandoned years ago – Ars Technica Here’s how we can break up Big Tech – Medium The world has awoken to the deal we’ve made for our personal data, but it may be too late – Axios Bill Gross: ‘We were looking

658

Weekend Reading 9-10 March 2019

Global Macro / Markets / Investing: The Sharing Economy Was Always a Scam – Medium On falling neutral real rates, fiscal policy, and the risk of secular stagnation – Brookings How About We Try Modern Monetary Theory in a Small Country First? – NY Times The Super-Rich Are Being Scammed on Their Private Jets –

43

Links 8 March 2019

Global Macro / Markets / Investing: Why companies like Lyft and Uber are going public without having profits – Recode In Defense of Neoliberalism – Boston Review Global economic growth forecasts cut again by OECD – Reuters Drop margin on swaps leaving Libor, Basel says – Risk MMT: Sense Or Nonsense? – Forbes The Market

42

Links 7 March 2019

Global Macro / Markets / Investing: Larry Summers: The left’s embrace of modern monetary theory is a recipe for disaster – Washington Post MMT: Wrong in a very confusing way – The Money Illusion What if All the World’s Economic Woes Are Part of the Same Problem? – NY Times How much does Tesla have

94

Links 6 March 2019

Global Macro / Markets / Investing: Larry Summers: The left’s embrace of modern monetary theory is a recipe for disaster – Washington Post The Clock Runs Down on Mainstream Keynesianism – Bloomberg Google Moves to Address Wage Equity, and Finds It’s Underpaying Many Men – NY Times The Bomb That Blew Up in 2008? We’re

73

Links 5 March 2019

Global Macro / Markets / Investing: The Return to Protectionism – UCLA Investors Scale Back Inflation Bets, Signaling Doubts About Growth – WSJ Here’s How Vulnerable Asset Managers Really Are – Institutional Investor Macro reasons to loath protectionism – VOX Americas: Shale Companies, Adding Ever More Wells, Threaten Future of U.S. Oil Boom – WSJ

28

Links 4 March 2019

Global Macro / Markets / Investing: The Problem for Small-Town Banks: People Want High-Tech Services – WSJ How Jeff Bezos Went to Hollywood and Lost Control – NY Times Crazy Elon vs. the SEC, Round Two – WSJ The Fed Faces a New World – Barron’s Quantitative easing was the father of millennial socialism –

570

Weekend Reading: 2-3 March 2019

Global Macro / Markets / Investing: How Debt Makes the Market Volatile – WSJ Show Us Your Climate Risks, Investors Tell Companies – WSJ The World Is Losing Fish to Eat as Oceans Warm, Study Finds – NY Times Amazon wants to sell “every genuine product in the world.” – Recode There’s been a mysterious

48

Links 1 March 2019

Global Macro / Markets / Investing: Never Before Has the Fate of Hedge Funds Turned on So Few Stocks – Bloomberg Corporate Bond Markets in a Time of Unconventional Monetary Policy – OECD There’s been a mysterious surge in $100 bills in circulation, possibly linked to global corruption – CNBC Did the Yield Curve Flip?

49

Links 28 February 2019

Global Macro / Markets / Investing: This Stock Market Rally Has Everything, Except Investors – NY Times The incredible shrinking CEO – FT Modern Monetary Theory Isn’t Helping – Jacobinmag Jerome Powell Says the Concept of MMT Is ‘Just Wrong’ – Bloomberg Walmart Joins Amazon in Chase for Ad Dollars – WSJ Millennials Are Facing

66

Links 27 February 2019

Global Macro / Markets / Investing: Tesla shares fall on report SEC asks judge to hold Elon Musk in contempt for violating deal – CNBC What’s wrong with MMT? – App Link Why Controlling 5G Could Mean Controlling the World – NY Times Riding Boom, Securitization Industry Wonders ‘How Much Longer?’ – Bloomberg The nothingness

78

Links 26 February 2019

Global Macro / Markets / Investing: Kraft Heinz Was a Classic Bet for Warren Buffett. Then It Soured. – WSJ Warren Buffett annual Berkshire Hathaway shareholder letter – Berkshire Hathaway What’s the Point of Modern Monetary Theory? = People’s Policy Project If Central Banks Are the Only Game in Town, We’ve Lost – Bloomberg Don’t

34

Links 25 February 2019

Global Macro / Markets / Investing: Mysterious 8,500% Stock Gain Attracts Big Funds (And Big Questions) – Bloomberg The Dollar Is Still King. How (in the World) Did That Happen? – NY Times Expect mischief as algorithms proliferate – FT Junk Bond Rally Obscures a Gathering Storm – Bloomberg China Uses DNA to Track Its People,

534

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

42

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