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Tyler Durden's picture

Frontrunning: May 12





  • Hillary and Me: The 2008 campaign was a nightmare. Will 2016 be as bad?  (Politico)
  • What Timothy Geithner Really Thinks (NYT)
  • Rebels declare victory in east Ukraine self-rule vote (Reuters)
  • Race for AIG's Top Job Has Two Favorites (WSJ)
  • America on the Move Becomes Stay-at-Home Nation for Millennials (BBG)
  • Old, Fired at IBM: Trendsetter Offers Workers Arbitration (BBG)
  • Bad luck Jonathan: Pressure Mounts on Nigerian President (WSJ)
  • Iran leader slams West's 'stupid' missile stance before talks (Reuters)
  • Conchita Wurst of Austria Wins Eurovision Song Contest (WSJ)
  • Greek Finance Ministry expects Q1 GDP contraction of less than 1.5 pct (Kathimerini)
 
Tyler Durden's picture

Rock, Paper, Scissors... Life





The structure behind the childhood pastime of rock, paper, scissors holds to modern game theory remarkably well for something so common to hungry college students contesting a final slice of 3 am pizza. As ConvergEx's Nick Colas explains, the optimal play choice is random, but human beings have real trouble fulfilling that mandate, as in the real world, life and human biases get in the way. And that, Colas notes, makes RPS a great tool for assessing how we make decisions in the real world – randomness is essentially impossible for humans, after all.

 
Tyler Durden's picture

Frontrunning: May 9





  • Omnicom, Publicis call off proposed $35 billion merger (Reuters)
  • Apple in talks for $3.2bn Beats deal (FT)
  • Alibaba IPO Grew Out of ’80s Chaos and Guy From Goldman (BBG)
  • Nigeria's president at WEF pledges to free kidnapped girls (Reuters)
  • JPMorgan Joins Wells Fargo in Rolling Out Jumbo Offerings (BBG)
  • It's 1999 all over again: Young Bankers Fed Up With 90-Hour Weeks Move to Startups (BBG)
  • ECB stimulus talk knocks euro, peripheral yields (Reuters)
  • Deutsche Bank Currency Crown Lost to Citigroup on Volatility (BBG)
  • London Taxis Plan 10,000-Car Protest Against Uber App Use (BBG)
  • Pfizer Holders Could Face Tax Hit in a Deal for AstraZeneca (WSJ)
 
Pivotfarm's picture

Gates on China: Give to the Poor





Is man altruistic by nature? Very stupid question really since we all know that man is man’s worst enemy.

 
Tyler Durden's picture

Frontrunning: May 5





  • Fed’s Fisher Says Economy Strengthening as Payrolls Rise (BBG)
  • Russia Knows Europe Sanctions Ineffective With Tax Havens (BBG)
  • EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower (BBG)
  • U.S. Firms With Irish Addresses Get Tax Breaks Derided as ‘Blarney’ (BBG)
  • Portugal exits bailout without safety net of credit line (Euronews)
  • Puzzled Malaysian Air Searchers Ponder What to Try Now (BBG)
  • Barclays, Credit Suisse Battle Banker Exodus, Legal Woes (BBG)
  • Germany says euro level not an issue for politicians (Reuters)
  • Alibaba-Sized Hole Blown in Nasdaq 100 Amid New Stock (BBG)
  • Obamacare to save large corporations hundreds of billions (The Hill)
 
Tyler Durden's picture

Italy May Have Over 1,000 Tonnes Of Gold At The New York Fed





Italy’s central bank, the Banca d’Italia, has recently published an important document detailing the storage locations and composition of the country’s gold reserves. The document confirms that Italy’s gold is held across four vault locations, three of which are outside Italy. This is a significant announcement given that the Banca d’Italia is the world’s third largest official holder of gold after the U.S. and Germany. Italy officially holds 2,451.8 tonnes of gold, worth more than €72 billion (US$ 100 billion) at current market prices. In the detailed three page report focusing exclusively on its gold reserves (and only published in Italian), the Banca d’Italia reveals that 1,199.4 tonnes, or nearly half the total, is held in the Bank’s own vaults under its Palazzo Koch headquarters on Via Nazionale in Rome, while most of the other half is stored in the Federal Reserve Bank gold vault in New York. The report also states that smaller amounts are stored at the Bank of England in London, and at the vaults of the Swiss National Bank in Bern, Switzerland.

 
Tyler Durden's picture

Five Stunning Facts About America's Prison System You Haven't Heard





America’s massive prison system is creating a long list of unintended consequences, some of which will effect all of us in the coming years. To help explain just how bad things have gotten, we’ve compiled this list of the most stunning facts and statistics on the America’s prison system today.

 
Tyler Durden's picture

Name The Continent: It Accounts For 7% Of The World's Population, 25% Of GDP And 50% Of Welfare Spending





Angela Merkel has a favourite mantra to offer troubled euro-zone countries: they should copy Germany. As The Economist notes, she put it last autumn: "What we have done, everyone else can do." Fifteen years ago, so she says, her country was widely regarded as the sick man of Europe; then it opted for fiscal austerity, cut labour costs and embraced structural reforms, turning it into an economic powerhouse. However, there is another mantra Mrs Merkel likes to repeat to her colleagues: Europe accounts for 7% of the world’s population, 25% of GDP and 50% of social-welfare spending. The Economist, and George Soros believe, Germany’s current course will exacerbate that problem as Europe's biggest economy is backsliding on structural reforms (as she preaches pre-growth reforms but implements anti-growth ones).

 
Tyler Durden's picture

Frontrunning: April 28





  • U.S. Plans to Hit Putin Inner Circle With New Sanctions (BBG)
  • Russian Billions Scattered Abroad Show Trail to Putin Circle (BBG)
  • GE’s Alstom Bid Gains Steam as Hollande Said Not Opposed (BBG)
  • Russia-West tensions pressure stocks, buoy oil prices (Reuters)
  • Toyota Said to Plan to Move U.S. Sales Office to Texas (BBG)
  • Egyptian court seeks death sentence for Brotherhood leader, 682 supporters (Reuters)
  • Greece warned of 14.9 billion euro financing gap (FT)
  • Comcast to shed 3.9 million subscribers to ease cable deal (Reuters)
  • Big U.S. Banks Make Swaps a Foreign Affair (WSJ)
 
Tyler Durden's picture

Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth" Retaliation Against NATO Countries





  • Russia should withdraw all assets, accounts in dollars, euros from NATO countries to neutral ones
  • Russia should start selling NATO member sovereign bonds before Russia’s foreign-currency accounts are frozen
  • Central bank should reduce dollar assets, sell sovereign bonds of countries that support sanctions
  • Russia should limit commercial banks’ FX assets to prevent speculation on ruble, capital outflows
  • Central bank should increase money supply so that state cos., banks may refinance foreign loans
  • Russia should use national currencies in trade with customs Union members, other non-dollar, non-euro partners
 
Tyler Durden's picture

Frontrunning: April 25





  • Russia raises interest rates to 7.5% (FT)
  • Shanghai to Allow Raw Material Exchanges in Trade Zone (BBG)
  • US, Japan Fail to Clinch Trade Deal (WSJ)
  • 'We don't have a magic wand', says ECB's Constancio (Reuters)
  • Tokyo Inflation Quickens to Fastest Since 1992 (BBG)
  • Demand for Home Loans Plunges (WSJ)
  • EU banks urged to grasp chance to raise capital (FT)
 
Tyler Durden's picture

Superstar FX Trader Whiz-kid Nothing But A Superspending Ponzi Fraud





Who can forget the amazing story of Alex Hope which was all the rage two years ago? Probably everyone. So here is a timely reminder because as it turns out young master Hope, who struck the proverbial gold at the tender age of 23, was nothing more than the latest Ponzi schemer whose only success in life was finding the absolute, and quite rich, idiots who believed his lies. Well, that, and being able to transform himself from a catering manager working at Wembley Stadium into an FX trader.... even if a fake, criminal and absolutely terrible FX trader.

 
Tyler Durden's picture

Frontrunning: April 23





  • Ukraine's leaders say have U.S. backing to take on 'aggressors' (Reuters)
  • Goldman Sachs Stands Firm as Banks Exit Commodity Trading (BBG)
  • Obama reassures Japan, other allies on China as Asia trip begins (Reuters)
  • China Challenges Obama’s Asia Pivot With Rapid Military Buildup (BBG)
  • Google’s Stake in $2 Billion Apple-Samsung Trial Revealed (BBG)
  • No bubble here: Numericable Set to Issue Record Junk Bond (WSJ)
  • 'Bridgegate' scandal threatens next World Trade Center tower (Reuters)
  • Supreme Court Conflicted on Legality of Aereo Online Video Service (WSJ)
  • Barclays May Cut 7,500 at Investment Bank, Bernstein Says (BBG)
 
Tyler Durden's picture

Second US Warship Enters Black Sea To "Promote Peace And Stability"





Less than two short weeks ago, the US sent their first warship into The Black Sea to "reassure NATO allies and Black Sea partners." Since then, thing shave escalated and then de-escalated last week with the so-called "truce deal." So why is the US sending a second ship? The Oliver Hazard Perry-class frigate USS Taylor (FFG 50), homeported in Mayport, Fla., will enter the Black Sea April 22 to "promote peace and stability in the region." We are sure that Putin will stand idly by and watch as NATO and the US build forces on his borders, but no matter how aggressive his response, the US Navy combat dolphin and sea lion team will not accompany the mission.

 
Tyler Durden's picture

Monday Humor: 33 Uncomfortably True Charts About Everyday Life





If one picture can paint a thousand words, the following 33 images, from Danish writer/artist duo Mikael Wulff and Anders Morgenthaler, should shed serious light on the everyday struggles, irritations, and insights of their fellow Westerners.

 
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