Something to read

• There’s No Bear Market in Sight, Say Dow Theory Experts (Marketwatch) see also Five Reasons Why a 10 Percent Correction Could Be Bullish (USA Today)
• The Thing About Big One-Day Gains (TRB)
• Barron’s has an exclusive interview with bond king Bill Gross on his next act (Barron’s)
• Seven Economic Shifts Underlying Hong Kong’s Divide With Beijing (Bloomberg)
• Public and Private Sector Payroll Jobs: Carter, Reagan, Bush, Clinton, Bush, Obama (Calculated Risk) see also Take U.S. Off List of Investor Worries (WSJ)
• The Contrarians on Stress: It Can Be Good for You (NYT)
• Crumbling Infrastructure and Traffic Are Costing Every L.A. Driver $2,500 a Year (Slate)
• 24 Maps and Charts That Explain Marijuana (Vox)
• How Twitter Became the LinkedIn of the Adult Industry (Pando Daily)
• The Terrible, Horrible, No Good, Very Bad Week for Climate Change News (Re/Code)

What are you reading?

the source

How to Beat the Market Makers at Their Own Game: Uncovering the Mysteries of Day Trading



The basic skills for becoming a successful trader from a master of the game

Written by Fausto Pugliese (founder and CEO of Cyber Trading University) this must-have resource offers a hands-on guide to learning the ins and outs of active trading. How to Beat the Market Makers at Their Own Game gives professionals, as well as those relatively new to investing, a behind-the-scenes look at the inner workings of the marketplace and a comprehensive overview of basic trading techniques. The book explains how to apply the trading strategies of acclaimed trader Fausto Pugliese. Step by step the author covers the most common market maker setups, shows how to identify market maker traps, and most importantly, reveals how to follow the direction of the lead market maker in an individual stock.

Throughout the book, Pugliese puts the spotlight on Level II quotes to help investors understand how market makers drive prices and manipulate the market. This handy resource is filled with the tools needed to interpret market maker activity so traders can truly understand the market and trade accordingly.

• Offers an accessible guide for developing the investing skills to trade with confidence
• Filled with the real-world trading experiences and techniques of Fausto Pugliese
• Covers simple technical patterns that are important in day trading
• Includes a website with exercises to help master the book's techniques

How to Beat the Market Makers at their Own Game will become your well-thumbed resource for learning what it takes to succeed in short-term stock trading.

Digital Bank: Strategies to launch or become a digital bank

by Chris Skinner

Digital Bank tracks the innovations in banking and how the mobile internet is changing the dynamics of consumer and corporate relationships with their banks. The implication is that banks must become digitised, and that is a challenge as becoming a Digital Bank demands new services focused upon 21st-century technologies. Digital Bank not only includes extensive guidance and background on the digital revolution in banking, but also in-depth analysis of the activities of incumbent banks such as Barclays in the UK and mBank in Poland, as well as new start-ups such as Metro Bank and disruptive new models of banking such as FIDOR Bank in Germany. Add on to these a comprehensive sprinkling of completely new models of finance, such as Zopa and Bitcoin, and you can see that this book is a must-have for anyone involved in the future of business, commerce and banking.

10 Monday AM Reads

• What Is Global Market Turbulence Telling Us? (FT)
• When Stocks Are Expensive, Returns Have Been Lower (The Upshot) see also How Low Will Stocks Go? (WSJ)
• Seeking a Cause After a Benchmark Bond’s Unnerving Move (Dealbook)
• Five Reasons to Worry About Deflation (Washington Wire)
• GM’s Hit and Run: How a Lawyer, Mechanic and Engineer Blew Open the Worst Auto Scandal in History (Pando)
• European Banks and the Global Banking Glut (Piera)
• The Plot Against Public Education: How Millionaires and Billionaires Are Ruining Our Schools. (Politico)
• This Could Be the Future of Battlefield Robotics (NextGov) see also Baidu Embraces Artificial Intelligence to Build a Better Search Engine (Businessweek)
• Nerd Culture Is Destroying Silicon Valley (Quartz)
• How To Make $500,000 A Year On Twitter (Fast Company)

What are you reading?

• Fed’s Axis of Opposition Shifts From Hawks to Doves (Real Time Economics) but see Why the Fed Is Giving Up Too Soon on the Economy (Wonkblog)
• Buybacks Can Juice Per-Share Profit, Pad Executive Pay (CFO Report)
• GLD’s Fall From Grace (A Wealth of Common Sense) see also Gold Equals 15 Barrels of Oil in Bearish Sign for Bullion (Bloomberg)
• Everything You Think You Know About the News Is Probably Wrong (Quartz)
• The Timeless Allure of Stock-Market Timers (Barron’s)
• Goldman Sachs Spooked the Market by Dethroning OPEC and Declaring the U.S. King (Quartz) see also Why the Drop in Oil Prices Caught So Many by Surprise (WSJ)
• Germany’s Car Elite to Go After Tesla (Epoch Times)
• Apple Pay Registered One Million Credit Cards in First 72 Hours (Re/Code) see also Retailers Like Wal-Mart Have Started a War Against Apple That They Have No Chance of Winning (Business Insider)
• U.S. Suspends Risky Disease Research: The government will cease funding “gain-of-function” studies that make viruses more dangerous (Scientific American)
• For $100,000, You Can Clone Your Dog (Businessweek) see also Cloning Cows From Steaks (and Other Ways of Building Better Cattle) (National Geographic)

What are you reading?

• The U.S. Recovery Is Frustrating -- but It’s the Envy of the Advanced World (Wonkblog) see also U.S. Economy Up 3.5% in 3rd Quarter, Capping Best 6 Months in Over a Decade (Bloomberg)
• How This Investment Firm Hopes to Revolutionize Litigation in America (Mimesis Law)
• Value Trap Underneath Gold Miner Fund GDX (ETF) see also Charts Suggest Gold Will Keep on Falling (Barron’s)
• Solar Flair: How Do You Make Ray-Soaking Roof Panels a Hot Investment? By Making Them a Boring One (Slate)
• How Long Can The Shale Revolution Last? (Oil Price)
• Norris: Inflation? Deflation Is New Risk (NYT) see also FOMC Recap (Tim Duy)
• Eight Topical Questions for Central Bankers and Others (Polemics-pains)
• He’s Definitely a Liberal -- Just Check Out His Brain Scan: New research finds political ideology can be easily determined by examining how one’s brain reacts to disgusting images. (Pacific Standard)
• Notes on the Death of the American Network Sitcom (Grantland)
• Jimmy Page: ‘Led Zeppelin Was an Affair of the Heart’ (Rolling Stone)

What are you reading?

The Little Book That Still Beats the Market
by Joel Greenblatt

Can you spare three hours to learn how to beat the market? As unlikely as it may seem, hedge fund manager and professor Joel Greenblatt, whose investment firm has averaged 40% annual returns for over twenty years, can teach you how. You can achieve investment returns that beat the pants off even the best investment professionals and the top academics. In fact, you can learn how it's possible to more than double the annual returns of the stock market averages. But there's more. You can do it all by yourself. You can do it with low risk. You can do it without making any predictions, and you can do it by following, step by step, a time-tested, proven "magic formula" that uses only common sense and two simple concepts. Best of all, once you are convinced that it really works you can choose to do it for the rest of your life.

A runaway bestseller even before it was published, The Little Book That Beats the Market shows how successful investing can be made easy for investors of any age. It's never too early or too late to start investing, and with Greenblatt as your guide you'll know exactly where to go and what to do. By following the clearly outlined simple steps and magic formula, you can achieve extraordinary long-term investment results with a very low level of risk.

• The Pension Wars: Finite assets. Infinite managers. The battle is on. (CIO)
• Buffett Said He Paid a Lot. $15 Billion Later, Burlington Northern Santa Fe Is a Cash Machine. ‘He Stole It’ (Bloomberg)
• An Audience with RAFI’s Rob Arnott (TRB)
• How Costco is Crushing the Competition (The Firstadopter)
• Draghi’s ECB Management and Leaked Geithner Files (Brussels Blog)
• Why Is Gold Losing Its Luster? (Yardeni)
• Behavioral Economist Dan Ariely on Happiness (Gretchen Rubin)
• The Democrats’ Favorite Denier: Why Enviros Are Cheering Chairman Inhofe (Politico) see also Wolf: An Unethical Bet in the Climate Casino (FT)
• Thomas Piketty’s ‘Capital’ Wins Business Book of the Year (FT)
• An Idea to Restructure and Expand La Guardia Airport (NYT)

What are you reading?

source

24 Essential Lessons for Investment Success: Learn the Most Important Investment Techniques from the Founder of Investor's Business Daily
by William J. O'Neil

From the publisher of Investor's Business Daily and best-selling author of How to Make Money in Stocks, comes the National Bestseller, 24 Essential Lessons for Investment Success, two dozen of the most important lessons for investors. In this one accessible guide, William J. O'Neil puts his popular and easy-to-follow techniques for building a profitable portfolio firmaly in the hands of investors**and the goal of long-term financial security easily within their reach.

24 Essential Lessons for Investment Success is based upon the closely followed "26 Weeks to Investment Success" editorials that appear in Investor's Business Daily. Edited and updated, O'Neil's timeless advice encapsulates such investing nuggets as buy high and sell higher to making a million in mutual funds. Concentrate your investments in a few areas, know them well, and watch them carefully.

Don't just rely upon PE ratios and other common technical tools. Learn to use Relative Price Strength to help you choose stocks. O'Neil's cautionary yet pro-active advice has helped to make Investor's Business Daily one of America's fastest growing and most respected newspapers. Now investor's can benefit from his timeless words of wisdom, collected in one easy-to-use resource.

We’ve known for 5,000 years that mass spying on one’s own people is always aimed at grabbing power and crushing dissent, not protecting us from bad guys.

We’ve known for 4,000 years that debts need to be periodically written down, or the entire economy will collapse. And see this.

We’ve known for 2,500 years that prolonged war bankrupts an economy.

We’ve known for 2,000 years that wars are based on lies.

We’ve known for 1,900 years that runaway inequality destroys societies.

We’ve known for thousands of years that debasing currencies leads to economic collapse.

We’ve known for millennia that torture is a form of terrorism.

We’ve known for thousands of years that – when criminals are not punished – crime spreads.

We’ve known for hundreds of years that the failure to punish financial fraud destroys economies, as it destroys all trust in the financial system.

We’ve known for centuries that monopolies and the political influence which accompanies too much power in too few hands are dangerous for free markets.

We’ve known for hundreds of years that companies will try to pawn their debts off on governments, and that it is a huge mistake for governments to allow corporate debt to be backstopped by government.

We’ve known for centuries that powerful people – unless held to account – will get together and steal from everyone else.

We’ve known for hundreds of years that standing armies and warmongering harm Western civilization.

We’ve known for 200 years that allowing private banks to control credit creation eventually destroys the nation’s prosperity.

We’ve known for two centuries that a fiat money system – where the money supply is not pegged to anything real – is harmful in the long-run.

We’ve known for 200 years that a two-party system quickly becomes corrupted.

We’ve known for over a century that torture produces false and useless information.

We’ve known since the 1930s Great Depression that separating depository banking from speculative investment banking is key to economic stability. See this, and 80 years that inflation is a hidden tax.

We’ve known for 79 years that war is a racket that benefits the elites but harms everyone else.

We’ve known since 1988 that quantitative easing doesn’t work to rescue an ailing economy.

We’ve known since 1993 that derivatives such as credit default swaps – if not reined in – could take down the economy. And see this.

We’ve known since 1998 that crony capitalism destroys even the strongest economies, and that economies that are capitalist in name only need major reforms to create accountability and competitive markets.

We’ve known since 2007 or earlier that lax oversight of hedge funds could blow up the economy.

And we knew before the 2008 financial crash and subsequent bailouts that:

• The easy credit policy of the Fed and other central banks, the failure to regulate the shadow banking system, and “the use of gimmicks and palliatives” by central banks hurt the economy
• Anything other than (1) letting asset prices fall to their true market value, (2) increasing savings rates, and (3) forcing companies to write off bad debts “will only make things worse”
• Bailouts of big banks harm the economy
• The Fed and other central banks were simply transferring risk from private banks to governments, which could lead to a sovereign debt crisis

the source