Financial Markets and Economy
Here's What Buffett Wouldn't Do, and Maybe You Shouldn't Either (Bloomberg)
Don’t be too fixated on daily moves in the stock market: "Games are won by players who focus on the playing field — not by those whose eyes are glued to the scoreboard. If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays." (from letter published in 2014)
Don’t get excited about your investment gains when the market is climbing: “There’s no reason to do handsprings over 1995’s gains. This was a year in which any fool could make a bundle in the stock market. And we did.” (1996)
This chart shows why investors are in love with gold right now (Business Insider)
It comes as no surprise that the price of gold is continuing to rise today, reaching $1,225.60 per kilogram.
Binding the Fed Won't Help the Economy (Bloomberg View)
When Federal Reserve Chair Janet Yellen delivered her semiannual testimony to Congress this month, lawmakers once again expressedconcern that the central bank was insufficiently transparent and may be pursing an over-expansionary monetary policy that could lead to high inflation.
The pound is taking a dive (Business Insider)
Now is not the time to be going on holiday to the US.
Target Trades Profit for Sales Growth in Holiday-Season Gambit (Bloomberg)
Target Corp. posted holiday sales growth that topped analysts estimates, boosted by a surge in online orders, though the retailers heavy reliance on discounts took a toll on profit during the season.
Why U.S. investors should fear a ‘Brexit’ (Market Watch)
U.S. companies could see their bottom lines slashed if the U.K. votes to leave the European Union in a so-called Brexit referendum this summer, according to Bank of America.
Goldman banker who advised on U.S. bond sale to Malaysia leaves (Business Insider)
Goldman Sachs' <GS.N> senior investment banker and chairman of its Southeast Asia business Tim Leissner has left the bank, a spokesman said.
Leissner helped arrange the sale of U.S. dollar bonds for Malaysian state investor 1Malaysia Development Bhd (1MDB), sources told Reuters. The bank drew criticism from Malaysian politicians over the hefty amount it earned from these transactions.
Global Stocks Down as Commodities Prices Slip (Wall Street Journal)
Stocks around the world fell Wednesday as fresh declines in commodities prices kept investors cautious.
The Stoxx Europe 600 was down 2.1% halfway through the session following a weak finish on Wall Street and in Asia. Mining companies led losses as oil and base metals prices continued their retreat.
S&P 500 Futures Signal More Stock Losses on Oil as Banks Slide (Bloomberg)
U.S. stock-index futures dropped, signaling the Standard & Poor’s 500 Index will slide further away from a six-week high reached on Monday, as falling oil prices continued to prey on investors’ global growth concerns.
The Top Performing Hedge Funds of 2015 (Bloomberg)
Hedge funds attracted a net $44 billion in assets globally last year, the smallest amount since 2012, according to data compiled by Hedge Fund Research Inc. That reflects a volatile year, when unanticipated economic events rattled markets and led to declines and losses for many funds. Others were hurt by crowded and sometimes concentrated trades and poorly timed bets on energy as oil prices continued to fall.
Pound plunges to a 7-year low as ‘Brexit’ fears bite (Bloomberg)
The British pound sank to a seven-year low Wednesday, as the prospect of the U.K. leaving the European Union continued to drag down the currency.
Sterling fell 0.8% against the dollar to $1.3892, a level not seen since early 2009. The pound hasn’t spent a sustained period below $1.40 since the mid-1980's.
Grand bargain to rescue global economy seen unlikely at G20 meet (Business Insider)
Investors hoping for a grand plan from the world's top financial officials to stabilize shaky markets are set for disappointment, insiders say, when finance ministers and central bankers gather this week in Shanghai to discuss the troubled global economy.
The Stock Market Rout Can't Breach the U.S. Consumer Firewall (Bloomberg)
As the dot-com bubble burst, then-Federal Reserve Chairman Alan Greenspan said the last firewall between the U.S. economy and a recession is consumer confidence. Given the market's plunge this year, will it hold now?
Coiling (The Reformed Broker)
We’re in a frustrating period for stock returns at the moment. Last year the S&P 500 made no progress and this year, it’s down 5% or so seven weeks in. It could get worse. One of the ways I like to think of periods like these is to picture a coiled spring. We don’t know how much further the spring will be pushed down, or for how long the market gods will press down on it with their thumb.
UBS: Globalisation is collapsing around us (Business Insider)
World trade may be in the doldrums but global capital flows have suffered even more since the 2008 financial crisis.
Here’s how horrific the economic fallout from a Brexit would be (Business Insider)
Britons get to vote on whether the UK should stay in or leave the European Union in the EU referendum on June 23.
Is The Fed Running Out of Ammo? (A Wealth of Common Sense)
The latest cover story for the The Economist asks if central bankers are Out of Ammo? Anything is possible, especially when there’s talk of negative interest rates in the U.S. some day.
Another Oil Crash Is Coming, and There May Be No Recovery (Bloomberg)
It’s time for oil investors to start taking electric cars seriously.
Politics
Did Nevada Just Kill Ted Cruz? (The Daily Beast)
Sen. Ted Cruz probably shouldn’t hit the roulette tables.
The Texas Republican is on a three-state losing streak heading into Super Tuesday, amid a senior campaign official’s resignation and a blowout loss in Nevada to businessman Donald Trump.
Four Problems With the 'Winnowing' Theory of Trump's Downfall (Bloomberg)
Jeb Bush’s decision to drop out of the presidential race after a dismal fourth-place finish in South Carolina sped up a process that Republican elites have long been praying for: a winnowing of the field that could thwart the candidacy of Donald Trump.
The Republican X-Men (The Atlantic)
Two members of a new generation have taken center stage in the campaign for the presidency. The cohort first called the Baby Bust, then “Generation X,” includes Republican Senators Marco Rubio and Ted Cruz.
Cruz or Rubio are vying for the nomination with Donald Trump—an entitled representative of the obscene over-consumption of the Baby Boom generation. Then comes Baby Boom’s political poster girl, Hillary Clinton, 68.
Technology
Can technology help us improve upon reality?? (BBC)
Imagine walking on Mars and being able to examine rock formations from all angles, or collaborating on the same 3D hologram design with someone thousands of miles away.
Don’t Pass Go: AI Will Beat You at Pretty Much Everything? (The Daily Beast)
Earlier this month, in a paper published in Nature, Google DeepMind researchers revealed that they’ve attained the holy grail of artificial intelligence game-playing: besting the European champion in the ancient Chinese game of Go.
Go is deceptively simple: players put down black and white stones on points on a 19 x 19 gridded game board (that’s 361 squares; smaller game boards are available for shorter games).
Health and Life Sciences
Lung Cancer Survivors May Be Getting Too Many PET Scans (Medicine Net Daily)
Many lung and esophageal cancer survivors have PET imaging scans as part of ongoing monitoring for the possible return of cancer, but a new study suggests that many of those scans may be unnecessary.
Huge damages award in talc cancer case (BBC)
A jury in the US state of Missouri has ordered Johnson & Johnson (J&J) to pay $72m (£51m) to the family of a woman who claimed her death was linked to use of the company's Baby Powder talc.
Jackie Fox from Birmingham, Alabama died of ovarian cancer last year, aged 62, having used the talc for decades.
Life on the Home Planet
Uncovering South Sudan War Crimes (The Daily Beast)
Like a ferocious tornado, a black cloud of smoke rose over the United Nations-run Malakal Protection of Civilians site, which had been home to almost 50,000 people. Inside the camp, fires raced high into the dusty sky. Around 3 o’clock in the afternoon, roughly half the shelters were in flames or smoldering. Gunfire erupted sporadically…
Where the dead don’t count in Europe’s migration crisis (Reuters)
Lucky Iz had just turned 15 when he and his friend Godfrey set off to cross the Sahara on a hot August afternoon in 2012. Lucky has still not told Godfrey’s family what happened on the journey towards Europe. This is his account.
