Sunday, November 24, 2013

Some Sunday reading

Here's a few news articles for you. Not particularly important, so if you have better things to do than read, go ahead.

Zerohedge - hedge funds have underperformed SPY by 75% this year. Really truly, this is what happens when an idiot invests money. Now how much will the US markets' future advance be driven by people who simply get their money out of idiotic short-yen-long-Nikkei trades, and into a US index ETF? There seems to be a hell of a lot of money performing unacceptably badly in this market, and thus I'd suggest the S&P's advance has barely even begun.

Reuters - German finmin says no more risk of contagion. Which hopefully means Germany is through destroying the economy of the rest of Europe for their own sinister purposes. And by the way, Greece needs no further bailout. - gold opinions from New Orleans. Frank Holmes is talking about gold as a 5%-10% asset allocation here. This is interesting to me: why would a goldbug not tell readers to put 100% of their asset mix into miners? I mean, yes it's stupid to do, but outside of Peter Grandich I've never heard one newsletter type suggest that gold and gold stocks should only be 5%-10% of your portfolio. Have they all decided to be sensible now that they've wiped out their followers' accounts?

Sean Brodrick - the history of gold. About stellar synthesis and so on. Unfortunately he doesn't mention Goldschmidt classification, which is an important reason why you don't find gold and platinum in the earth's crust at cosmic abundances.

Reuters - behind the Pentagon's doctored ledgers. A story about how many hundreds of billions of dollars the Pentagon simply loses track of, every year.Why the fuck do Americans let the Pentagon steal thousands of dollars out of each taxpayer's pocket every single year? And where does the supposedly "fiscally responsible" Republican party stand on this? That money you cut from food stamps - do you think you could cut the same amount from Pentagon waste?

Rolling Stone - how Republicans rig the game. I still think what the Democratic party needs is a good old-fashioned Irish brawler to lead the party. Obama has been a spineless pussy. They need someone ruthless who's willing to smash some faces. The way you get your opponent to behave is by showing you're ten times nastier and a bit unhinged.

Vice - will Europe kill the American death penalty? Good. No state should have the right to end the life of any citizen. Where are the libertarians on this?

1 comment:

  1. Frank Holmes' investment advice is about as useful as his eternal bullishness on China. Pour your money down a hole because the gold market is "like a rubber band" and who wouldn't trust the Chinese capitalists to keep working miracles?