Ten links at ten

I'm feeling a little under the weather monkeys, so instead of my usual rant, I figured I'll just give you guys a little weekend reading. Hope you like it. Enjoy.

*The Rotten Heart of Finance (The Economist) - probably the best article about the LIBOR scandal so far. Anyone think Barclays is gonna survive this? To say that this thing won't end well would be a spectacular understatement.

*Ten Steps One Should Take To Become A Successful Speculator, from Victor Neiderhoffer (Daily Speculations) - this probably isn't for everyone, but nevertheless, I think this should be made required reading for anyone interested in trading.

Can we really “have it all?”

With almost 9,000 comments, 375,000 recommendations, and 11,000 tweets, Amy Chua's lengthy diatribe against American-style parenting might be one of the most-read articles on the internet. A recent piece in The Atlantic however, seems to be giving Chua a run for her money.

In a record-breaking, 15,000 word article about the hardships of maintaining a decent work-life balance, Anne-Marie Slaughter asks "why can't women have it all?"

I ask, "who the hell can?!?"

France to clamp down on layoffs

Keeping up with unemployment is a bitch, but somehow, everybody seems to have their own way of handling it. Take Iceland for instance, after letting their banks fail, they devalued the Krona, slapped on harsh capital controls, and saw their unemployment rate drop to 5.6%. Germany meanwhile slashed wages across the board, raised their retirement age to force people back to work, and saw theirs drop for 27 straight months to 6.7%.

Germany's work-shy neighbors to the southwest however, seem to handle things a little differently:

France's new Socialist government is planning to ramp up the cost of laying off workers for companies in the coming months, its labour minister said on Thursday after data showed the jobless rate hit the highest level this century at 10 percent.

"The main idea is to make layoffs so expensive for companies that it's not worth it," Sapin said in an interview with France Info radio.

"It's not a question of sanctions, but workers have to have compensation at the right level," he said.

Industry Minister Arnaud Montebourg is also planning legislation that would force companies to sell plants they want to get rid of at market prices to avoid closures and job losses.

Can the BRICS make up for the PIIGS?

Ever since the Euro crisis began, headlines around the world have been predicting nothing but full on gloom and doom to fall upon us.

4 years into it, the stakes are higher, and the fear-mongering has become worse. Some people however, are saying not to sweat it:

Growth in BRICS countries is far more critical for global economic health than the fate of Greece, as BRICS gains could easily counterbalance losses from Europe's crisis, says Jim O'Neill from Goldman Sachs.

"In the context of the European crisis for example, I'm fond of saying that China creates an economy equivalent to another Greece every 11 and a half weeks," the chairman of Goldman Sachs Asset Management told RT. "So you could wave Greece off the map and in 11 and a half weeks, China creates another one."

Now, I actually like Jim O'Neill, the dude seems to be a pretty smart, respectable guy and he's made a lot of pretty good calls over the years. That said however, I'm calling bullsh*t.

Gold: Buy, Sell, or Hold?

Gold may have blown away stocks,
bonds, and practically ever other risk asset for the past few years, but if you were late to the party, chances are you got shafted pretty bad - in May alone it dropped 6%.

With yesterday's climb however, goldbugs and skeptics have fueled debate once again.

What do you think monkeys? Is this time different? Will this rally grow legs? Or is this just another blow-off?

Hedge Funder on dating: “the dumber the girl, the better”

It's Saturday, monkeys. And while I normally regale you with my highly ineffectual wrap ups at this time, this piece from BI has compelled me to write about something a little different...

Let's talk about chicks, man.

Compensation, EU Style

I never knew these guys could be so creative.

Shareholders should have the power to curb bosses' pay and set caps on executive bonuses, the European Union's top regulatory official said on Wednesday, adding to pressure on banks and companies over excessive management pay deals.

The plan from Michel Barnier, the European Commissioner in charge of regulation, could pave the way for a pan-EU law next year that would give investors legal clout to take on Europe's executive elite over pay.

"For all listed companies, I support transparency and increased shareholder responsibility ... for example ... mandatory shareholder vote on remuneration," Barnier said in a statement.

Doesn't sound so bad, right? Well, here's the kicker:

WSO cribs: Beach House Edition

We've seen their New York homes as well as their Hamptons getaways, now it's time to take a peek where our 1% goes to for some serious R&R.

Prestige overdose after the jump.

The weekend wrapup 4.28.2012


* DJIA +1.5%, S&P 500 +1.8%, NASDAQ +2.3%

* Another month, another FOMC statement and Q&A. This month's however was pretty meh; little has changed since the March meeting and aside from the Bernank saying that he'll scramble the choppers when shit hits the fan, there's barely anything to go on with this one. Definitely not the statement QE3 fans have been hoping for.

* Meanwhile, real GDP figures for the US have slipped from 3% to 2.2% (2.5% expected). And while personal consumption, home sales, and consumer sentiment figures all jumped to the upside, jobless claims were still pretty high.

The Weekend Wrapup 3.17.2012


* S&P 500 +0.6%, DJIA +0.4%, NASDAQ +0.5%, S&P/TSX +0.4%, IPC +0.3%, IBOV -0.1%

* After weeks of testing, Treasurys finally broke through support last Tuesday after the Fed's soft FOMC statement (along with strong retail figures, a drop in jobless claims, the stress test results, and a relatively solid America) sent sidelined investors rushing to reallocate funds. There's still a lot of money in the bond market and if equities continue performing, a lot of dudes will be forced out of their "safe havens". Meanwhile, Operation Twist is a total dud.


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