Earlier on MoreLiver's:
9th Jun - Best of The Week
Fed: Crushing The "Smart" Money's Hopes Since 2009 – ZH
Not Jackson Hole – Tim Duy’s Fed Watch
UBS Sees $600 Billion Combo For QE3 – MarketBeat / WSJ
Credit Suisse’s Nostrand Sees More Accommodative Fed – BB (mp3)
UBS’s Bory Says Treasury Yield `Can Move Lower’ – BB (mp3)
Sunday S&P Mullings – Macro and Cheese
The phenomenon of perpetually underpriced stocks – Saxo Bank
How to value the stock market using the Equity Q ratio – greenbackd
Tobin’s Q ratio is the ratio between the market value of the stock market and against the aggregate net worth of the constituent stocks measured at replacement cost.
Euro banks: Bail-in trend could mean investment opportunity – Saxo Bank
Choose the right bank - and I have no idea which of the banks in the unhappy red box below might be correct - and you will get the benefits of the continental rescue with none of the dilution
Dividend vs. Treasury Yields – Econompicdata
The dividend yield of the S&P 500 is above that of the ten year Treasury for the first time since the financial crisis. Before that we have to go all the way back to the 1950's to find a time when this was the case.
May data preview: how bad is it going to be? – beyondbrics / FT
Industrial production growth rebound slightly in May 2012 – ASA
Retail sales growth missed estimate in May 2012 – ASA
Fixed asset investment growth softened slightly in May 2012 – ASA
Trade figures beat estimates in May 2012 – ASA
China Easing: A Positive Dynamic – EconMatters
The risk from China’s shadow banks – MacroScope / Reuters
Salesman for software company selling to HFT firms: 'We robotise events' – The Guardian
[AV's Incomplete Guide to Internships] A little perspective – alphaville / FT
The Complete Guide to Wall Street Internships – New York Magazine
What to wear, where to live etc. part two here.
UBS May Have $360 Million in Facebook Losses – The Reformed Broker
The last days of MF Global – Fortune
Policy Challenges for the Financial Sector – PIMCO
The Fed Proposes Stronger Buffers for Banks – DealBook / NYT
The Federal Reserve on Thursday proposed that the nation's banks adopt a broad package of international regulations aimed at making the global financial system more resilient to shocks.
Dodd-Frank Act implementation – BIS (pdf)
Testimony by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, US Senate, Washington DC, 6 June 2012.
Dodd-Franking, May 2012 – alphaville / FT
Peabody Says Volker Rule Probably Will Be Tightened – BB (mp3)
Is Global Finance a Ponzi Scheme? Ask a Russian Expert – View / BB
Back in February 1994, amid the turmoil of the country's transition to a market economy, the mathematician organized a Ponzi scheme called MMM.
Computer trading models crash from favour – Reuters
Investors are losing faith in the computer-based trading models that made them millions in the bull market years, as Europe's financial convulsions have shown how poorly they cope with the unpredictable.
The Supraview of Return Predictive Signals – SSRN
return predictive signals (RPS) discovered and publicly identified during the period 1970-2010. Our supraview brings to light a number of new facts about RPS, including that many more RPS exist than is commonly realized (our database contains over 330 signals); the statistical properties of newly discovered RPS have remained stable over time; the returns and Sharpe ratios earned by famous RPS such as accruals and momentum are lower than those of the median RPS; and that RPS with higher mean returns also have higher Sharpe ratios.
Adaptive Risk Parity for a Better 'Balanced Fund' – dshort
The New Neuroscience of Choking – The New Yorker
When the stakes increase, you become more conscious of your actions – and start making mistakes
What to do in sideways markets – greenbackd
Vitaliy’s thesis is that equity markets are characterised by periods of valuation expansion (“bull market”) and contraction (“bear market” or “sideways market”)
Is bad really bad? – SMB
Below are some examples of bad things before good. As I gain more market experience and get older I find it harder and harder to determine what really is bad. Perhaps this thought can be helpful to traders as they experience losers. Part two here.
The Role of Correlation Dynamics in Sector Allocation – SSRN
We find using sector portfolios in three equity markets that correlation timing is rewarding. We document time-variation, asymmetry and a structural break in sector correlations and show that the predictability of conditional correlation models capturing such features is economically relevant.
The Flaws in My Character are the Flaws in My Trading – Interloper
The Best of, Part 16 – The Aleph Blog
The "Solution" Is Collapse – of two minds
Not so expert – The Economist
The need for financial advice may be more psychological than practical
On Capital Markets, Confidence Tricks, And Criminals – ZH
The term “Confidence Game” stems from the fact that the criminal appears to give you their confidence.
[Beyond scarcity] The end of artificial scarcity – alphaville / FT
Such As Pavlovian Markets – Grant Williams / ZH
Things That Make You Go Hmmm-newsletter
Guest post: Michael Geismar’s blackjack strategy – Felix Salmon / Reuters
When mathematician and blackjack expert Jonathan Adler saw my post about hedge fund manager Michael Geismar’s antics at the Vegas blackjack tables, he offered to explain just how silly Geismar was being.
Market Is More Fragile Now Than Pre-Lehman – ZH
back then the market was in the hands of the, well, market. Now it is solely controlled by a few politicians and a even fewer academics. In other words, whatever can go wrong, will.
Integrated & Cointegrated Data – Dave Giles
Idiot’s guide to "integrated data", "cointegration", "differencing" etc.
Perspectives on monetary policy – BIS (pdf)
Speech by Ms Janet L Yellen, Vice Chair of the Board of Governors of the Federal Reserve System, at the Boston Economic Club Dinner, Boston, Massachusetts, 6 June 2012.
Threat of fiscal dominance? - workshop summary – BIS (pdf)
by Richhild Moessner and Philip Turner
Thoughts on policies and the policy framework after a financial crisis – BIS (pdf)
by Lex Hoogduin and Peter Wierts
Sovereign debt management as an instrument of monetary policy: an overview – BIS (pdf)
by Fabrizio Zampolli
The financial crisis and the changing dynamics of the yield curve – BIS (pdf)
by Morten Bech and Yvan Lengwiler
The financial market impact of UK quantitative easing – BIS (pdf)
by Francis Breedon, Jagjit S Chadha and Alex Waters
Eurodollar banking and currency internationalization – BIS (pdf)
by Dong He and Robert N McCauley
The expansion of central bank balance sheets in emerging Asia: what are the risks? – BIS (pdf)
by Andrew Filardo and James Yetman
Inflation targeting and the output gap – alphaville / FT
Deutsche Bank: …economic policy should be conducted in a two dimensional framework, where not only the output gap but also new borrowing relative to GDP is closely monitored.
The “May the road rise with you” theory of fiscal correction – A Fistful of Euros