New Deal Demoncrat - more on the Q2 GDP. However, he notes there are long leading hints that 2015 might suck.
Ritholtz - whine whine whine I'm so scared why does the market keep going up please hold me. You're such a fucking sissy, Barry. Really. Here's Chopper to beat some sense into you:
The problem is you've lived through a bear market since 2000, and now you're expecting more bear to come when we're quite obviously still nearer the start of a secular bull. Quit pissing your fucking lace panties and party like it's 1994.
Do you remember 1994? If we transported you back to 1994, would you have any fucking clue how to play the 1994 market anymore? Harden the fuck up, Barbara.
Reformed Borker (Bork Bork Bork!) - memo to CAPE slaves. Again with Shiller CAPE being worthless, which makes me wonder why the hell him and his panty-pissing little kissy-buddy have been giving it all this fucking airtime to begin with. Quote:
One argument that should have gotten more attention as we dismantled the CAPE meme, however, was the fact it almost never tells you to be invested. As Anatole Kaletsky explains at Reuters, waiting for a CAPE buy signal is like waiting for a lucid moment from Courtney Love.Oh come on Josh, Courtney's too easy a target. Uh, plus her whole history of insane violent outbursts.
FT Alphaville - Fed sees continued underutilization of labour resources. Michael Shaoul disagrees.
Mining.com - robust copper price prompts switch to aluminium. I was just thinking about this over the past few weeks. If you want to replace Cu wire with Al wire, to maintain the same resistivity per unit length all you have to do is up it by 2 on the AWG, which is about a 50%-60% increase in cross-sectional area (thus mass). But copper has three times the density, so by weight you're actually using fewer pounds of aluminium for the same length of wire at a larger gauge.
So why does copper cost so much more than aluminium? Is it because it takes a long time to start the move to substitution? Frankly, we should have all switched to Al wire by now.
Oh and when we finally do, what do you think will happen to the copper price as recycling increases while demand decreases, what with something like 30% of copper demand today already being met by recycling?
And why the fuck can't stupid Americans spell aluminium properly?
Mineweb - Minera IRL sells Don Nicolas for $11.5M. Um... is that a good price, Otto? Is this good news?
BI - billionaire hedge fund manager Paul Singer's biggest worry is... an electromagnetic pulse? Unfortunately, Singer has no fucking clue. He reveals this when he says
The risks associated with electromagnetic pulse, or EMP, represent another story entirely. It can occur naturally, from solar storms that send 'coronal mass ejections,' which are massive energetic bursts of solar wind, tens of millions of miles in a mere few hours. Or it can be artificial, produced by a high-altitude (at least 15 miles) explosion of relatively low-yield (even Hiroshima-strength) nuclear weapons.No. No it can't, you fucking dumbass. An EMP is not caused by a coronal mass ejection. CMEs cause geomagnetic induced currents, not electromagnetic pulses. A nuke EMP is qualitatively a completely different thing from a geomagnetic induced current. A GIC will not fry your cellphone nor your computer, or for that matter anything that isn't owned by a major electrical generation & distribution utility.
You could have fucking looked that up on Wikipedia, or you could have fucking read about it on Fark or in the comments section of any of a hundred recent articles on the July 2012 CME event. But you didn't. You are asking your investors to believe in bullshit that you've literally just made up in your own fucking head.
You suck as a hedge fund manager, and Joey the Weasel sucks for giving you free press.