What I am Reading

How smart do you have to be to read this blog? I thought I wrote in a breezy and accessible manner, but apparently not.

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Here is a list of other financial blogs and their rankings.

Soros and Rogers are bearish, while Dreman likes Bank of America and Freddie Mac.

More market statistics than you could ever want from the World Federation of Exchanges – 88 page PDF is here.

Where does your city rank?

LA is the 2nd most expensive, is the hardest to get around, and has attractive residents that are not very nice or intelligent.

Democrats pin their hopes on sushi.

James Altucher takes a look at Pabrai’s holdings.

How is the SpoofCard possibly legal?

An older article that I still find amusing – On bankers and lap dancers. From the article:

In reality, both [banking and lap dancing] are in very similar businesses.

Both sell an illusion, on which they usually fail to deliver. They are both good at flattering their clients and making them feel good about themselves. Neither cares much about what happens when the club or market closes.

Both are about appearances rather than substance. In the jargon of economists, they exploit human rather than physical capital. In both industries, youth is favored over experience.

There is also the obsession with bonuses. The bankers are mindful of how much they are likely to be paid for each deal; the dancers, how much they get tipped. Both, without doubt, are overpaid, given their talent or contribution to society.

Maybe that is why bankers like to wind up an evening out in a lap-dancing club. They see people very much like themselves, only better looking, and with fewer clothes on.