Morning Reading – Wednesday, February 16, 2011

FT Alphaville: Raging bulls

And the overwhelming theme of the latest BofA Merrill Lynch fund managers survey is…

FT Alphaville: Emerging resistance

Here’s a chart that might spook investors in emerging markets, at least those in equities…

FT Alphaville: Inflation Chartology

FT BeyondBRICs: PE unfazed by China property “bubble”

While the brokers churn out research fretting about a possible slowdown in China’s property market as a result of inflationary pressures and tighter monetary policy, their fears hadn’t infected most participants at the PERE (private equity real estate) Forum in Hong Kong February 15 and February 16.

The Big Picture: Trading Rules, Aphorisms & Books

Thanks, Chris, I have been meaning to pull all of these together in one place, and you motivated me to get off my bum and do so.

The Big Picture: Labor Costs vs Consumer Prices 1950-2010

The Bloomberg chart above compares year-to-year percentage changes in labor costs and consumer prices – from 1950 to present, for the past six decades (data source: Labor Department).

Insider Monkey: David Tepper Betting On Airlines

David Tepper’s Appaloosa bet big on banks, technology, and healthcare during the fourth quarter. Over the past few weeks, he focused his attention on industrials. He first bought Dean Foods (DF), and then Goodyear Tire (GT). Today, David Tepper revealed that he built a 11.3 million share position in US Airways (LCC). At the end of December, he had only 2.9 million shares of LCC. This means he bought more than 8 million shares in early February at prices below $9.50. He already made 5% from that investment.

The Economist: The return of structural unemployment concerns

ECONOMISTS at the San Francisco Fed have been working overtime to figure out whether any of America’s continuing unemployment problem is structural. Today, writers are linking around this new Economic Letter, by Justin Wiedner and John Williams. Here’s the abstract…

Urgent Speed: Why Ten Million Dollar IPOs Matter

In the 70s, 80s and 90s thousands of companies went public… these companies became the backbone of our modern economy. While Ford, International Harvester, Chrysler, PanAm and RCA shrank or declared bankruptcy, Microsoft, Cisco, Intuit, Amazon and hundreds of others were creating jobs, increasing our standard of living and making the world a better place.

Fortune: Turnaround CEO smackdown

A whole flock of tech CEOs are taking on turnaround projects. Who’s got the toughest job ahead of them?





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