Diary of a Financier

Top Newsstuffs (August 6-10)

In Bookshelf on Sun 12 Aug 2012 at 07:13
This past week’s must-reads & must-remembers…
Rail Traffic Weekly: Maintaining Precious Expansion | Association of American Railroads (AAR)
Carloads -2.5% and Intermodal +3.6 (y/y cumulative ytd volume); +0.4% and +3.3 respectively (vs. this week last year).
13 of 20 carload groups posted gains: Petroleum products +56.3%, Lumber/wood +29, Grain +11.2; Iron/Steel scrap -19.7%, Metallic ores -13.3, Farm products -13.2.

Wall Street Eats Its Young | The Reformed Broker
On the withering, aging brokerage business and its sneaky means of massacring its young. 90% fail in “training programs,” keeping the oligarchs fed with the remnants of their books.

China’s local debts start to bite | beyondbrics
Outstanding Chinese local debt has dropped from 2010 high of RMB9.1t to 6.1tn ytd. 17% of these loans mature in FY2012, putting funding pressure on localities since revenues are down.

Best Performing Asset Classes During the Crisis (2007-12) | Deutsche Bank
DB ranks major global asset classes’ total return performance for the past 5 years. Corn, precious metals & bonds are tops, with SPX in the middle and China’s Shanghai bringing up the rear.

Housing Doubters Must Now Contend With Data | The Reformed Broker
The current housing recovery can persist despite shadow inventory, because banks don’t have to sell REO and they won’t since FAS 157’s mark-to-myth lets them defer writedowns until losses are realized. [Hurts banks’ ROA and liquidity.]

Infographic: Complete Guide to Natural Gas (NG) | Visual Capitalist

Japan’s Demographics: Aging Population Dragging Down Growth | BloombergBrief
Population is aging, with 25% over 65 years old by 2014, 30% by 2022, and 40% by 2050.

A Silver Bubble: Would you buy these stocks? | Market Anthropology
Compares major, secular boom-bust charts of Nikkei (1980-93), NASDAQ (1990-2003) and Silver (2001-pres). [#Analogue]

Google Buys Auto Loans | Business Insider
GOOG buying Auto Loan ABS from Honda & Hyundai to diversify its corporate cash out of ZIRP instruments.

How Google Can Help Avert the Next Financial Crisis | Bloomberg
Using a similar algorithm to its founders’ breakthrough PageRank, GOOG has unveiled DebtRank, which models the banking system’s web of systemic risk. Now, they just need banks to open their books.




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