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Demand Media, indeed

July 28, 2011

Jason Calacanis writes: Sad to see Demand Media getting crushed in the market. Demand Media is a content farm (in every negative sense of the word) which (by some accounts) was crushed by Google's most recent "Panda" update that was aimed at removing junk spam Demand Media from search results. So to put this tragedy […]

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Talking heads

June 30, 2011

Too good to pass up: (via SMBC)

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Chaos and markets

October 20, 2010

This morning I came across a post by David Varadi on the (futile?) quest for simplicity. He writes: The most optimistic quantitative researcher knows deep down that an unexplained noise dominates the data that mysteriously eludes linear models such as regression. Markets are chaotic systems characterized by feedback. If they were neat and orderly (and […]

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What Europe Did

May 25, 2010

In a piece called "Laughing as you Sink," Clarke and Dawe explain the European Debt Crisis -- this is required watching: (And yes, my title stems from LOST withdrawal.) (Via The Big Picture)

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Another day, another article demonizing CDS

November 28, 2009

Bloomberg has a new article up about how the CDS market is starting to crumble - the sort of piece that looks like it's been sitting on a back burner waiting for an excuse to stoke the flames of derivative fear (thanks, Dubai!). One of the article's chief arguments is that "credit-default swaps tied to Thomson […]

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More derivative witch hunts

November 17, 2009

Going through the FT's original post on exchange traded currency notes, I saw a couple of sentences that really bothered me. One thing we do not need right now are witch hunt statements without basis (a point especially compounded by the fact that the FT completely misunderstood how these products worked, even as they wrote […]

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Things you should know before you invest

November 2, 2009

The WSJ's top story this morning was one titled "The Cruel Math of Big Losses" - an article written as if it were an eye-opening expose into a little-known piece of financial wisdom rather than a blatantly obvious restatement of basic math: when you lose X%, it takes a gain of more than X% to […]

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Because no one knows commodities like we do

September 22, 2009

Why did a post up titled "How To Play Natural Gas With Small Cap Stocks" pop up in Silicon Alley Insider's RSS feed? A little investigating (elementary, my dear Watson) shows that it's actually from The Money Game - another blog under the Business Insider umbrella. The blogs themselves and current RSS feeds show no […]

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CDS Markets, briefly (or not so briefly)

July 15, 2009

In response to Daniel Indiviglio's call for "someone who understands the derivatives market," I posted the following comment on the Atlantic Business blog - and I reprint it here not just because it turned out a surprisingly complete thought, but because I'm a glutton for blogging laziness: The CDS market works similarly to any other […]

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Irrational markets: V-shaped edition

June 8, 2009

The market shot up late this afternoon because Paul Krugman stated: “I would not be surprised if the official end of the U.S. recession ends up being, in retrospect, dated sometime this summer,” he said in a lecture today at the London School of Economics. “Things seem to be getting worse more slowly. There’s some […]

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A Non-Random Walk Down Wall Street

June 6, 2009

I couldn't have been happier than to see this article in the NYT about efforts to refute the efficient markets hypothesis. My title of course is shared with Andrew Lo's excellent collection of anti-EMH statistical demonstrations, as well as a play on Malkiel's classic investing guide.

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A casualty of chance

April 20, 2009

I discovered this Atlantic article ("Why I Fired My Broker") on MB's blog.  I came to enjoy it in the end, but while I was reading it I was struck by how representative it is of contemporary financial journalism.  This is the new cookie cutter article: naive reporter is encouraged by rich capitalists to invest, […]

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On revisions

April 3, 2009

A lot of headlines this morning are noting that the jobs report is "in line with expectations", with a change of 663,000 vs the survey median of 660,000. What gets ignored is the revised number. For 13 straight months, the prior month's number has been revised lower by a significant amount after the fact - […]

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Is this the bottom?

February 23, 2009

It's sort of like when little kids ask, "Are we there yet?" over and over and over:

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"It is better to be roughly right than precisely wrong."

January 31, 2009

Despicable though his character may have been, Keynes said some remarkable things, the title of this post among them. He also uttered the cliched investing mottos regarding animal spirits and beauty contests -- true statements all, but widely abused by financial textbooks. My favorite, which remains somewhat unknown despite its enormous relevance, is: The market […]

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