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Readings
Published on 05/04/10
by willpate
Here is some of what I have been reading since April 4th:
- Pimco's battling brains
"leaving no stone unturned in the hunt for the best investments. Every investment decision and economic projection is second-guessed. Scuffed egos are a small price for results." - Current rally has echoes of 1930 snapback
"the current rebound in the economy is a statistical mirage orchestrated by record amounts of monetary and fiscal stimulus that are simply unsustainable" - Bounded rationality and the credit crisis
"Responses to the recession should not be based on unrealistic expectations of rational behaviour. We now know enough about real, flawed human psychology to be able to take some account of it in policy setting." - HBS Working Knowledge
A first look at faculty research – yes please - The secret of leadership
"Psychological research supports a related circular conclusion: the people we follow as leaders are the ones who decide they've got what it takes to lead." - The difficulty of measuring leverage of banks
"…for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded." - The Collapse of Complex Business Models « Clay Shirky
Clay Shirky does it again: "When ecosystems change and inflexible institutions collapse, their members disperse, abandoning old beliefs, trying new things…when the ecosystem stops rewarding complexity, it is the people who figure out how to work simply in the present…who get to say what happens in the future." - Inflation: 'Financial Death by a Thousand Cuts'
A good explanation of inflation, analysis of risk, and some good advice on how to hedge against it - Signs of a Coming Crisis in the Municipal Market
SEC Senior Policy Adviser Rick Bookstabber provides an interesting analysis of why cities are at risk of becoming the next financial crisis - How Washington Abetted the Bank Job
"Our bank regulators were not, as they would like us to believe, outside the disco, deaf and blind to the revelry going on within. They were bouncing to the same beat."
That's it. What Next?
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