Daily Reading – Monday, April 11, 2011

The Big Picture: Does Fed Intervention Produce Low Volume Rallies?

Michael Santoli’s column this weekend in Barron’s had a fascinating combination of quotes. Mike put together a series of dots. I want to take a shot today at connecting them.

Calculated Risk: Fed’s Dudley: Not “enthusiastic about tightening policy too early”

Calculated Risk: Fed’s Yellen: Too soon to exit QE2

Calculated Risk: Economic Outlook and Downside Risks

Just an update: My general outlook for 2011 remains the same …

FT beyondBRICs: China’s deficit: bullish for the redback

China’s March trade figures cemented something that hasn’t happened since 2004 – a quarterly deficit. True, at $1bn it doesn’t make much of a dent in China’s overall trade picture. But it still represents something of a moral victory for those pressing for China to help fix ‘global imbalances’.

Quantivity: Portfolio Theory is Dead, Now What?

Readers often ask what Quantivity thinks of long-term quantitative strategies, and thus corresponding relevance of modern portfolio theory and asset allocation (strategic and tactical). In short, Quantivity is not a fan.

The Reformed Broker: Inside the Currency Boiler Rooms

The online currency trading shops are modern-day boiler rooms.

I have absolutely no interest in mincing words or playing politics with this post.  I am exercising my First Amendment rights and I intend to speak plainly.

I have been warning people for some time now that the average person shouldn’t be attempting to trade currencies and that Forex is not an “asset class” for individual investors.  After readingAndrew Bary‘s piece this weekend in Barron’s I’ve never been more certan that I am right.

I am not arguing that making money trading currencies is impossible, I am saying that most people who try are merely being taken advantage of.

Slope Of Hope: Weekend Summary – Bulls Still in Control

Slope Of Hope: Want to Feel Inadequate?

I can help!

First, take a look at this entrace exam to Harvard from 1899. I think I got 0%.

Second, watch this video of House star Hugh Laurie (a favorite of mine from Blackadder days). An amazing individual……….


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