What I'm reading this morning:
Stuff I’m Reading this Morning…
Another shitshow in Japan overnight… (BusinessInsider)
The biggest monthly loss in fixed-income securities since 2004 (Bloomberg)
All of a sudden stock people are trying to understand the bond market – a helpful primer for equity market natives. (LearnBonds)
For some people, getting rich is much easier than staying rich. (TBP)
L-Train: Here’s what the newly-volatile markets are trying to tell us. (Fortune)
Global markets are signaling to the Fed that it’s not yet time to remove the IV needle. (MoneyBeat)
Apple’s iRadio product taking shape as Warner Music signs on… (ValueWalk)
More investors ripping their capital out of world-renowned 3-and-50 wealth transference machine SAC Capital. (WSJ)
How consultants and their “alternatives” buddies have raided pensions and endowments. (CassandraDoesTokyo)
Why does Wall Street hate Facebook? No one knows. (Wired)
Pros like complexity because it makes them appear to be experts pulling off feats of brilliance where simplicity will do. (AboveTheMarket)
The so-called “Say on Pay” revolution is a joke, CEO pay packages go through without a problem, they just have to be a bit more polite now when they propose them to shareholders. (NYT)
Mark Dow: is this one of those moments where a long bet on Treasurys can’t lose? (BehavioralMacro)
Actually, Keynes loved capitalism and was seeking to improve upon it, not usurp it. (Forbes)
Jason Zweig on the role of punishment in capitalism and why markets require the illusion of fairness in order to function. (TotalReturn)
June Mutual Fund Observer is Live: Misunderstanding fund costs and the futility of hedge fund investing. (MutualFundObserver)
David Einhorn and the rest of the runner-ups who just missed this year’s Hedge Fund Rich List. (alpha)
Only 8% of all people on earth have over $100,000 in assets to their name, 3.2 billion have less than $10,000! (ZeroHedge)
“I don’t stand in lines, I snort them.” – the Turney Duff story. (NYT)
Guess how Michael Douglas got the throat cancer… (HuffPo)
REMINDER: Backstage Wall Street is now on Kindle!
