Weekend Reading – Stuff we found interesting this week

October 9, 2011

Interesting Links

October 8-9th 2011.

Welcome to our weekly roundup of the stuff we read that was interesting to us and hopefully to you.

This week’s bounce in markets was as I keep saying I think as a result of a Pessimistic Crescendo earlier in the week and a snapback because markets had got a little too bearish for the environment with all the possible bad news priced in. Here is a piece from the Wall Street Journal that looks at the situation economically in the US with consumers.

Here is a piece from Macro Man making the same point as above although slightly differently. He’s right on this definitely.

Market Anthropology is one of my favourite blogs to follow and I really liked this piece here. I believe the market you invest in is the market you invest in. you shouldn’t be dogmatic – this is a good article on such.

Here is an interesting, if a little wonkish, piece on what the Shiller P/E ratio is telling us about market pricing at the moment.

Not unrelated to the above here is a piece on how Zero interest rates are turning markets into a giant game of poker.

PIMCO is the world’s biggest bond manager still I think. Here is an interesting piece on the “new normal” for the economy and how its gone awry. Warning some gross visual images about 50 year olds in speedo’s before you get to the guts of it.

At some point China is going to have an economic misstep, of that I have no doubt, whether it is happening now is up for debate and whether it is structural or cyclical is also hotly argued. but BHP is betting on China and betting big. Here is  a story from the Australian earlier in the week.

Iron Ore swaps are off quite a bit recently but still historically high. Here is a piece from the SMH saying they are going down much further. 

Here is an interesting article from a colleague over at MacroBusiness how the global financial system has gotten ahead of itself and needs to be rebuilt. Capital is enough

And of course the FT’s week in review

Have a great weekend

Greg McKenna

greg@lighthousesecurities.com.au

www.twitter.com/gregorymckenna

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