Monday, April 28, 2014

Some evening reading

Some more stuff:

Bespoke - internet group crashes. Good, now let's go do some proper investing in an actual economy. The reason the Nasdaq crashed was because it was in a massive bubble populated by the clowns who migrated from gold miners to computer stocks two years ago because they saw the secular breakout and buying AMAT and MU was all they knew how to do.

Reformed Borker (Bork Bork Bork!) - RIP record profit margins. Quote:
The bear case is that profit margins for the S&P 500 – now pushing almost 10% – cannot possibly be sustained, let alone expand from here. And thus, the logic goes, falling profit margins cannot possibly be good for stocks.

Unless they’re falling because companies are paying workers more and economic activity picks up to the point where reinvestment is necessary. In this context (of increased household income, spending and confidence), falling margins may not be the end of the world.

BusinessWeek writes on the burgeoning labor shortage (yes, I said shortage) this morning:
Which I find interesting, because now that I have certification and access to the OACETT salary survey, I see that I'm due for a minimum 12% raise. And I know I'm getting the fucker cos I have over 3 years of backlog now, and there are 20 people in my province who do my work, and most of them are leaving their shitty-paid consultant jobs for the security (and pension) of working for the province.

Fuck you capitalists, now we of the indomitable proletariat will finally get our piece of flesh!

FT beyond brics - is the EM rally over already? I actually ditched my EM short at a wash today, but only because I see another better opportunity coming along. Though unfortunately it involves at-the-money warrants for a gold exploreco....

Raw Story - citing religious freedom, NC clergymen sue North Carolina for the right to perform same-sex marriages. The Fark lawyer brigade say the actual problem is NC's law against performing a marriage for which there is no issued license, which means a minister performing a gay marriage is breaking the law. But I think there's a bigger problem: the state has made a definition of marriage (i.e. no gays) based on religious belief, when their law purports that marriage is a secular ceremony. Hopefully the court is forced to consider the fucking hypocrisy of that.

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