Breakfast Links

Transparency is a key component of a well greased marketplace. It’s why I am against dark pools, internalization and other systems designed to push trading into back rooms. Dodd-Frank will make things less transparent, not more. This is a great article on transparency.

Patents on a lot of drugs will be expiring soon, dropping their prices. The FDA has made it very arduous to get new drugs out there-there isn’t a lot of new stuff in the pipeline. Research is too expensive, liability bar is too high. Important to note, it’s not Obamacare. ($ABT, $BMY, $AZN, $JNJ, $LLY, $GSK, $PFE)

Conservatives and guide to gay marriage.

Explaining the budget crisis to a 19 year old. And a more adult explanation is here.

Heat killed a lot of cattle. ($SFD, $HRL)

Argentina government quotas kill its beef industry. Sad, beautiful country. Great wine and beef. Silly government since the Peron’s.

Spending in disguise. Some targeted tax cuts are really government spending.

While we have a debt ceiling crisis, Europe still has a full blown debt crisis. Spreads on government bonds widen after rescue package.

Comparing and contrasting the two speeches and their approach. Individuals are not stupid. They know when taxes go up for some, they will eventually go up for all.

Does Apple have enough cash? ($AAPL)

Maybe golfers should take a physics or economics class.

Androids have a 30-40% return rate! iPhone’s are 1.7% ($GOOG)

You are starting a company. Debt or Equity? Here are some things to consider if you use debt.

  • Sftimpe

    You seem to have played with the ‘facts’ just a bit. According to Desoto, Dodd Frank doesn’t make things worse but rather is too timid. From the article ‘ Dodd-Frank has sought to move derivatives into clearinghouses where
    more data about them can be collected. It’s a step in the right
    direction. But if you believe in the value of public memory and economic
    facts, the reforms leave a number of problems outstanding.’

    • pointsnfigures

      Dodd-Frank doesn’t do anything to alleviate any mess. All it does is layer a bureaucracy over a ill functioning bureaucracy. With regard to clearing, you cannot force everything to a clearinghouse. It’s impossible and eventually the clearing house will fail. Streetwise Professor has written extensively on that. He is an expert on clearing.

      DF is the second worst bill in the last three years, with Obamacare being the first.

      Repeal it, start over. Make things transparent. DF does nothing for transparency-pushes most trading underground.