Our readers, beyond being perceptive, articulate and good looking, are probably familiar with most of the top twenty or so names on TR's list.
What surprised me when I first saw this year's compendium was the bottom half.
From MIT's Technology Review, June 21, 2016, starting with the introduction:
50 Smartest Companies 2016
Our editors pick the 50 companies that best combine innovative
Retro Econ: "Silicon Valley of the 14th Century--What the U.S. Can Learn From 1386 Germany"
A repost from April 2012.
From the Atlantic:
This is a story about how innovation happens. It begins with
the Papal Schism of 1386 (seriously), demonstrates the ability of
universities to foster capitalism, and concludes with a surprising hero
of the modern world: lawyers.
If you want an illustration of just how crucial a role education
plays in economic development, there are any number
From the Atlantic:
This is a story about how innovation happens. It begins with
the Papal Schism of 1386 (seriously), demonstrates the ability of
universities to foster capitalism, and concludes with a surprising hero
of the modern world: lawyers.
If you want an illustration of just how crucial a role education
plays in economic development, there are any number
"Project Sand Hill: Google’s Unknown Campaign to Track the World’s Hottest Startups"
From Wired:
Google calls it Project Sand Hill.
Since 2012, Suman Prasad and his team have worked with various
Silicon Valley venture capital firms to identify “rocketship” startups
before they really take off, and they help plug them into the Google
machine. They help them build apps for Android phones, hook into Android
Pay, and make use of countless other Google services, from Google
Google calls it Project Sand Hill.
Since 2012, Suman Prasad and his team have worked with various
Silicon Valley venture capital firms to identify “rocketship” startups
before they really take off, and they help plug them into the Google
machine. They help them build apps for Android phones, hook into Android
Pay, and make use of countless other Google services, from Google
"Elon Musk: 'We Have Not Ruled Out' That UFO Caused Space X Explosion"
From Sputnik:
The statement by the vaunted entrepreneur that he couldn’t rule out
that UFO hunters were correct that an unidentified object or weapon
initiated the explosion has alien enthusiasts out in full force.
The frenzied excitement for alien hunters hit new heights on Friday
when the innovative wunderkind Elon Musk wrote to a commenter on
Twitter that "We have not ruled that [a UFO
The statement by the vaunted entrepreneur that he couldn’t rule out
that UFO hunters were correct that an unidentified object or weapon
initiated the explosion has alien enthusiasts out in full force.
The frenzied excitement for alien hunters hit new heights on Friday
when the innovative wunderkind Elon Musk wrote to a commenter on
Twitter that "We have not ruled that [a UFO
"The Limits of Formal Learning, or Why Robots Can’t Dance"
From Nautil.us:
The 1980s at the MIT Computer Science and Artificial Intelligence
Laboratory seemed to outsiders like a golden age, but inside, David
Chapman could already see that winter was coming. As a member of the
lab, Chapman was the first researcher to apply the mathematics of
computational complexity theory to robot planning and to show
mathematically that there could be no feasible
The 1980s at the MIT Computer Science and Artificial Intelligence
Laboratory seemed to outsiders like a golden age, but inside, David
Chapman could already see that winter was coming. As a member of the
lab, Chapman was the first researcher to apply the mathematics of
computational complexity theory to robot planning and to show
mathematically that there could be no feasible
Statistically, Today Is the Peak of the Hurricane Season
Number of Tropical Cyclones per 100 Years
The official hurricane season for the Atlantic Basin (the Atlantic
Ocean, the Caribbean Sea, and the Gulf of Mexico) is from 1 June to 30
November.
As seen in the graph above, the peak of the season is from mid-August to
late October. However, deadly hurricanes can occur anytime in the
hurricane season.
-NOAA's Tropical Cyclone Climatology
What Now For Equities: "Embracing Panic"
From Pension Partners, Sept. 9:
“I tend to stay with the panic. I embrace the panic.” – Larry David
The stock market was down today. That fact alone is not at all
unusual (47% of all days are negative historically). What was somewhat
unusual is the aggressiveness of the selling in today’s session, what
some would refer to as “panic selling.”
Panic selling is a subjective term but there are
“I tend to stay with the panic. I embrace the panic.” – Larry David
The stock market was down today. That fact alone is not at all
unusual (47% of all days are negative historically). What was somewhat
unusual is the aggressiveness of the selling in today’s session, what
some would refer to as “panic selling.”
Panic selling is a subjective term but there are
Stiglitz on Rents and Inequality
A quasi-periodic look at public intellectuals and the zeitgeist.
From evonomics:
Joseph Stiglitz Explains How to Grow the Economy: Reduce Inequality and Unearned Income
Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic
Sciences in 2001 and the John Bates Clark Medal in 1979, is University
Professor at Columbia University, and Chief Economist of the Roosevelt
Institute
From evonomics:
Joseph Stiglitz Explains How to Grow the Economy: Reduce Inequality and Unearned Income
Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic
Sciences in 2001 and the John Bates Clark Medal in 1979, is University
Professor at Columbia University, and Chief Economist of the Roosevelt
Institute
"Gimme Shelter: Dow Tumbles 394 Points as Calm Gives Way to Chaos"
From Barron's Stocks to Watch:
The summer of calm gave way to chaos today as all major indexes tumbled well more than 1%.
The S&P 500 dropped 2.5% to 2,127.81 today, while the Dow Jones Industrial Average fell 394.46 points, or 2.1%, to 18,085.45. The Nasdaq Composite tumbled 2.5% to 5,125.91. The CBOE Volatility Index, or Vix, soared 40% to 17.50, the most since Brexit.
The market’s selloff
The summer of calm gave way to chaos today as all major indexes tumbled well more than 1%.
The S&P 500 dropped 2.5% to 2,127.81 today, while the Dow Jones Industrial Average fell 394.46 points, or 2.1%, to 18,085.45. The Nasdaq Composite tumbled 2.5% to 5,125.91. The CBOE Volatility Index, or Vix, soared 40% to 17.50, the most since Brexit.
The market’s selloff
Climateer Line of the Day: Discounting the Apocalypse Edition
Today's winner of the prestigious CLoD is Peter Berezin of BCA Research who offers up:
"If the probability of doomsday is large, interest rates should be
higher than they are today; if there are multiple versions of 'you'
within a multiverse, you should prefer equities over bonds."
Yes indeedy, that's hard to argue with.
This metaphysical moment was brought to you by Bloomberg's Matt Levine
"If the probability of doomsday is large, interest rates should be
higher than they are today; if there are multiple versions of 'you'
within a multiverse, you should prefer equities over bonds."
Yes indeedy, that's hard to argue with.
This metaphysical moment was brought to you by Bloomberg's Matt Levine
"Bondmageddon Sparks Crude Carnage & Biggest Stock Slump In 7 Months"
Bondmageddon. You gotta love (buy gold) ZeroHedge.
From ZH:
Oops...Compared to recent lack of volatility, today was indeed a bloodbath and the week was the worst week for stocks in 7 months...
Dovish Rosengren's confidently hawkish comments seemed to spark this,
sending rate hike odds notably higher (and not sparking confidence in
the market)...
And rate hike odds are rising as macro data
From ZH:
Oops...Compared to recent lack of volatility, today was indeed a bloodbath and the week was the worst week for stocks in 7 months...
Dovish Rosengren's confidently hawkish comments seemed to spark this,
sending rate hike odds notably higher (and not sparking confidence in
the market)...
And rate hike odds are rising as macro data
Volatility: Somebody's Happy
The VIX is up 34.3% at 16.80.
From Slope of Hope:
Volatility’s Glorious Return
Today is the biggest down day since Brexit. Good God, it’s been a dry spell, hasn’t it? I have 70 short positions. As of this typing, 68 are profitable.l I suspect those other two will be addressed in short order.
From Slope of Hope:
Volatility’s Glorious Return
Today is the biggest down day since Brexit. Good God, it’s been a dry spell, hasn’t it? I have 70 short positions. As of this typing, 68 are profitable.l I suspect those other two will be addressed in short order.
Markets: "Quiet Time Is Over"
This story reads a bit oddly because it was written last night and updated this afternoon.
From Bloomberg:
Stocks Sink With Bonds, Dollar Rallies as Complacency Broken
Tranquility that has enveloped global markets for more than two
months is being upended as central banks start to question the benefits
of further monetary easing, sending government debt, stocks and
emerging-market assets
From Bloomberg:
Stocks Sink With Bonds, Dollar Rallies as Complacency Broken
Tranquility that has enveloped global markets for more than two
months is being upended as central banks start to question the benefits
of further monetary easing, sending government debt, stocks and
emerging-market assets
"A graphical display of some very nervous VW execs and engineers…"
Sorry, wrong embed.
Let's try this again, from FT Alphaville:
James Robert Liang, a Volkswagen engineer, pleaded guilty on Friday in a
Motown court for his part in Dieselgate, where Volkswagen allegedly
used special devices to cheat US emissions tests in hundreds of
thousands of supposedly “clean diesel” vehicles....MORE
Here we go:
(click to enlarge)
Computer Generated Imagery Is Crossing the Uncanny Valley
Here's an example of the uncanny valley we've been using as an example since 2014:
Seinfeld, Virtual Reality and Mild Revulsion
The Uncanny Valley, Interior-Design Edition
Greg Miller
The "uncanny valley" usually applies to human
aesthetics. It describes that vague sense of revulsion you get when you
see a fabricated person—a robot, usually—who looks aaaaalmost human …
but
Seinfeld, Virtual Reality and Mild Revulsion
The Uncanny Valley, Interior-Design Edition
Greg Miller
The "uncanny valley" usually applies to human
aesthetics. It describes that vague sense of revulsion you get when you
see a fabricated person—a robot, usually—who looks aaaaalmost human …
but
"Big US Grain Harvest Threaten Storage Space Squeeze" (and a change in the September/October prices forecast)
Last
Chg
Corn
336-4-2-0
Soybeans
977-6+1-0
Wheat
401-0-5-0
From Agrimoney:
As farmers gear up for potentially
record breaking corn and soybean harvests, concerns are circulating over just
how they will store this massive crop.
Farmers have been holding on to corn, in particular, ever
since last harvest, in hopes of higher prices.
And expectations are that they will do so again.
The Little Tuna Blockchain Company Is Doing a Seed/Series A Offering
Following up on Tuesday's "All I Asked Was 'Is the Red Snapper Good Here?'" which featured, among its other attractions, this fellow:
The next day this fell out of one of the feedreaders, from City AM:
The Co-op is exploring blockchain technology
The Co-Operative Group is exploring how blockchain technology can be
used to prove the authenticity of its food in a pilot of a "fairtrade
for
The next day this fell out of one of the feedreaders, from City AM:
The Co-op is exploring blockchain technology
The Co-Operative Group is exploring how blockchain technology can be
used to prove the authenticity of its food in a pilot of a "fairtrade
for
Capital Controls, Not Global Accords, Touted As the New Fix for Currency Volatility
From Real Time Economics:
Currency volatility is one of the many symptoms of—and threats to—the global economy’s long malaise.
But unlike former days when exchange-rate pressures risked tearing up
economies, currency accords are becoming anachronistic in some key
policy circles. Capital controls, long anathema in the West, are
now touted as the policies du jour.
Cross-border restrictions
Currency volatility is one of the many symptoms of—and threats to—the global economy’s long malaise.
But unlike former days when exchange-rate pressures risked tearing up
economies, currency accords are becoming anachronistic in some key
policy circles. Capital controls, long anathema in the West, are
now touted as the policies du jour.
Cross-border restrictions
Natural Gas: EIA Weekly Supply/Demand Report
October futures 2.824 up 0.018.
From the Energy Information Administration:
In the News:
High natural gas summer storage inventories contribute to low prices and increased power burn
With a late-summer heat wave across much of the eastern half of the
country, natural gas consumed for power (power burn) reached 36.2
billion cubic feet (Bcf) on Wednesday,
From the Energy Information Administration:
In the News:
High natural gas summer storage inventories contribute to low prices and increased power burn
With a late-summer heat wave across much of the eastern half of the
country, natural gas consumed for power (power burn) reached 36.2
billion cubic feet (Bcf) on Wednesday,
"These are the voyages of the warship Zumwalt"
On this 50th anniversary of the first broadcast of Star Trek. here's the newest ship in the fleet.
From Navy Times:
BATH, Maine — The nation's largest and most technologically
sophisticated destroyer will join the Navy with a crew that's the
smallest of any destroyer built since the 1930s thanks to extensive
automation.
The stealthy Zumwalt departed Wednesday from Bath Iron Works
From Navy Times:
BATH, Maine — The nation's largest and most technologically
sophisticated destroyer will join the Navy with a crew that's the
smallest of any destroyer built since the 1930s thanks to extensive
automation.
The stealthy Zumwalt departed Wednesday from Bath Iron Works
"Chinese Billionaire Linked to Giant Aluminum Stockpile in Mexican Desert"
Bauxfinger? AlFinger?
From the Wall Street Journal:
Two years ago, a California aluminum executive commissioned a pilot
to fly over the Mexican town of San José Iturbide, at the foot of the
Sierra Gorda mountains, and snap aerial photos of a remote desert
factory.
He made a startling discovery. Nearly one million metric
tons of aluminum sat neatly stacked behind a fortress of barbed-wire
From the Wall Street Journal:
Two years ago, a California aluminum executive commissioned a pilot
to fly over the Mexican town of San José Iturbide, at the foot of the
Sierra Gorda mountains, and snap aerial photos of a remote desert
factory.
He made a startling discovery. Nearly one million metric
tons of aluminum sat neatly stacked behind a fortress of barbed-wire
Meet Wang Bing: Hedge Fund With 2,100% Returns
From DealBreaker:
Wang Bing has one word for you: rebar. Chinese rebar, to be exact.
Chinese rebar futures, to be even more exact. He’s turned in a 2,100% return
on the stuff over the past year-and-a-half, shorting the hell out of it
late last year and then going long in the first half of this year. And
Chinese rebar futures don’t just have a great recent past. There’s a
great future in
Wang Bing has one word for you: rebar. Chinese rebar, to be exact.
Chinese rebar futures, to be even more exact. He’s turned in a 2,100% return
on the stuff over the past year-and-a-half, shorting the hell out of it
late last year and then going long in the first half of this year. And
Chinese rebar futures don’t just have a great recent past. There’s a
great future in
"Oil Stockpiles Plunge as Storm Cuts Imports, Prices Rally"
October futures $47.53 up $2.03 after trading as high as $47.58. It's too early to short but we're very close again.
From MoneyBeat:
U.S. crude stocks fell by a whopping 14.5 million barrels last week,
the EIA says, the biggest drop since January 1999 and the second-biggest
decline on record in weekly data going back to late 1982.
Analysts cautioned, though, that this is more likely to be a
From MoneyBeat:
U.S. crude stocks fell by a whopping 14.5 million barrels last week,
the EIA says, the biggest drop since January 1999 and the second-biggest
decline on record in weekly data going back to late 1982.
Analysts cautioned, though, that this is more likely to be a
Professor Damodaran: "Keystone Kop Valuations: Lazard, Evercore and the TSLA/SCTY Deal" (TSLA)
Tesla is under $200.00 again, $197.30 down $4.41 (-2.19%).
SolarCity is currently trading at a discount to the implied merger price indicating some suspicion the deal won't close.
Tesla just raised $300 mil from Deutsche to fund their leasing program. They need to raise 20 times that amount to pull off what they are trying to accomplish.
See this morning's Bloomberg Gadfly "That SolarCity Spread
SolarCity is currently trading at a discount to the implied merger price indicating some suspicion the deal won't close.
Tesla just raised $300 mil from Deutsche to fund their leasing program. They need to raise 20 times that amount to pull off what they are trying to accomplish.
See this morning's Bloomberg Gadfly "That SolarCity Spread
Fintech: "Blockchain's Numbers Don't Add Up"
The developers have to somehow get out of the 'solution in search of a problem' mentality but trying to change human nature is much more difficult than writing code.
From Bloomberg Gadfly:
It has big ambitions to revolutionize finance. But those aren't matched
by its funding or manpower. The blockchain industry is either hugely
under-resourced or hugely over-optimistic. Probably both.
From Bloomberg Gadfly:
It has big ambitions to revolutionize finance. But those aren't matched
by its funding or manpower. The blockchain industry is either hugely
under-resourced or hugely over-optimistic. Probably both.
GMO's Jeremy Grantham: Buy Natural-Resource Stocks
We think he's right but premature.
Mr. Grantham has a habit of being early and because of this his performance record suffers, see:
Feb. 2010
"Grantham’s ‘Horrifically Early’ Calls Challenge GMO"
March 2014
How Good Is Jeremy Grantham's Forecasting Record?
July 2016
Grantham Mayo Van Otterloo's Mean Reversion Strategy Is Tested In Today's Market
One specific call that exemplifies this is a
Mr. Grantham has a habit of being early and because of this his performance record suffers, see:
Feb. 2010
"Grantham’s ‘Horrifically Early’ Calls Challenge GMO"
March 2014
How Good Is Jeremy Grantham's Forecasting Record?
July 2016
Grantham Mayo Van Otterloo's Mean Reversion Strategy Is Tested In Today's Market
One specific call that exemplifies this is a
So, Will Elon Musk's “Neural Lace” Brain Implant Help Us Compete with AI?
Following up on last week's "Elon Musk Is Making Progress On His Neural Lace Brain Hack To Defeat AI And Prevent the Takeover Of the Human Mind".
From Nautil.us:
Solar-powered self-driving cars,
reusable space ships, Hyperloop transportation, a mission to colonize
Mars: Elon Musk is hell-bent on turning these once-far-fetched fantasies
into reality. But none of these technologies has made
From Nautil.us:
Solar-powered self-driving cars,
reusable space ships, Hyperloop transportation, a mission to colonize
Mars: Elon Musk is hell-bent on turning these once-far-fetched fantasies
into reality. But none of these technologies has made
DR Congo’s State Mining Company Submitted An Offer to Buy Freeport McMoRan's Stake In Tenke Fungurume Copper, Cobalt Mine (FCX; LUN.to)
From Reuters:
The Democratic
Republic of Congo's state mining company Gecamines said on Wednesday it
has submitted an offer to buy Freeport McMoRan Inc's majority stake in
the Tenke copper project.
Freeport agreed in May to sell its 56
percent stake in Tenke, one of the world's largest copper mines, to
China Molybdenum Co Ltd (CMOC) for $2.65 billion.
Toronto-based
Lundin Mining, which
The Democratic
Republic of Congo's state mining company Gecamines said on Wednesday it
has submitted an offer to buy Freeport McMoRan Inc's majority stake in
the Tenke copper project.
Freeport agreed in May to sell its 56
percent stake in Tenke, one of the world's largest copper mines, to
China Molybdenum Co Ltd (CMOC) for $2.65 billion.
Toronto-based
Lundin Mining, which
Words You Don't Want To See: Asteroid Edition
What the...?
From SpaceWeather:
ASTEROID FLYBY (UPDATED):
Newly discovered asteroid 2016 RB1 flew past Earth on Sept 7th,
only 25,000 miles above our planet's south pole. Because of the
asteroid's southern trajectory, it did not pass within the orbits of
any communication or weather satellites--but it was close.
Researchers say the space rock is 25 to 50 ft in diameter, or about
From SpaceWeather:
ASTEROID FLYBY (UPDATED):
Newly discovered asteroid 2016 RB1 flew past Earth on Sept 7th,
only 25,000 miles above our planet's south pole. Because of the
asteroid's southern trajectory, it did not pass within the orbits of
any communication or weather satellites--but it was close.
Researchers say the space rock is 25 to 50 ft in diameter, or about
Warren Buffet on Cockroaches
Via Alpha Ideas:
This was in reference to the 2014 sales of Berkshire's position in the British supermarket company Tesco.
It was not Warren's first use of the metaphor.
In 2007 (pre-collapse/conservatorship!) he was testifying in the government's case against Freddie Mac's CEO and asked why Berkshire had bailed on a long-held position in the stock. Buffet mentioned earnings smoothing as the
This was in reference to the 2014 sales of Berkshire's position in the British supermarket company Tesco.
It was not Warren's first use of the metaphor.
In 2007 (pre-collapse/conservatorship!) he was testifying in the government's case against Freddie Mac's CEO and asked why Berkshire had bailed on a long-held position in the stock. Buffet mentioned earnings smoothing as the
"What Warren Buffett Likes About Cash"
From Barron's Read This, Spike That:
Here’s a case for an inert asset. And what will self-driving cars mean for auto stocks?
If you’re like many investors, you view the cash portion of your investment portfolio as money to be quickly put to work.
By
that thinking, a large cash position in percentage terms is taken as a
sign that either you or your financial advisor has been asleep at the
Here’s a case for an inert asset. And what will self-driving cars mean for auto stocks?
If you’re like many investors, you view the cash portion of your investment portfolio as money to be quickly put to work.
By
that thinking, a large cash position in percentage terms is taken as a
sign that either you or your financial advisor has been asleep at the
"Tesla’s Dream of Battery Domination Has Major Competition" (TSLA)
From MIT's Technology Review:
A coming surge in global battery production will drive costs down, a key
factor in determining whether electric vehicles will take off.
If you build enough batteries, electric cars will come—or so the
thinking goes. Turns out, Tesla isn’t alone in this line of thought.
Tesla’s Gigafactory
is planned to churn out 35 gigawatt hours of cells every year by 2020.
A coming surge in global battery production will drive costs down, a key
factor in determining whether electric vehicles will take off.
If you build enough batteries, electric cars will come—or so the
thinking goes. Turns out, Tesla isn’t alone in this line of thought.
Tesla’s Gigafactory
is planned to churn out 35 gigawatt hours of cells every year by 2020.
Oil: Shell Lifts Force Majeure On Nigerian Exports
From Oilprice:
At least one source of Nigerian oil exports is set to come back online after Royal Dutch Shell lifted its force majeure on Bonny Light crude exports.
The
Nembe Creek Trunk Line was repaired and reopened, allowing Shell to
resume exports of its oil, nearly a month after declaring force majeure.
Nembe Creek is one of a handful of key pipelines that helps Nigeria
brings its oil
At least one source of Nigerian oil exports is set to come back online after Royal Dutch Shell lifted its force majeure on Bonny Light crude exports.
The
Nembe Creek Trunk Line was repaired and reopened, allowing Shell to
resume exports of its oil, nearly a month after declaring force majeure.
Nembe Creek is one of a handful of key pipelines that helps Nigeria
brings its oil
Société Générale's Albert Edwards Sees Opportunity, Broad Sunlit Uplands Ahead
From Barron's Stocks to Watch:
Albert Edwards: No Alternative to Stocks? Just Wait For the Next Bear Market
Societe Generale’s Albert Edwards is back, and the notorious perma-bear comes bearing warnings for investors who have bought into the notion that there is no alternative to stocks:
One thing we constantly hear from clients is that despite equities being very expensive,
they are the “
Albert Edwards: No Alternative to Stocks? Just Wait For the Next Bear Market
Societe Generale’s Albert Edwards is back, and the notorious perma-bear comes bearing warnings for investors who have bought into the notion that there is no alternative to stocks:
One thing we constantly hear from clients is that despite equities being very expensive,
they are the “
"How a Low VIX Can Remain an Expensive Hedge"
From EconompicData, September 6:
One of my favorite Twitter follows @LadyFOHF shared
the below scatter chart from Morgan Stanley that attempted to map areas
of the global market that were both cheap (valuation ranks at the lower
end of its 10-year history) and defensive (a low or negative
correlation to global equities).
One of the few trades listed as having both characteristics was
One of my favorite Twitter follows @LadyFOHF shared
the below scatter chart from Morgan Stanley that attempted to map areas
of the global market that were both cheap (valuation ranks at the lower
end of its 10-year history) and defensive (a low or negative
correlation to global equities).
One of the few trades listed as having both characteristics was
Commodities: "Pity the Tin Whale"
Is it Red Kite?
From Bloomberg Gadfly:
There's a player out there who's controlling the tin market, with
more than half of cash and next-day positions in the thinly traded
metal. If you believe they're about to make their fortune, think again.
The theory of market corners hasn't changed much since the Book of Genesis. The
patriarch Joseph interpreted a dream of the Egyptian pharaoh to
From Bloomberg Gadfly:
There's a player out there who's controlling the tin market, with
more than half of cash and next-day positions in the thinly traded
metal. If you believe they're about to make their fortune, think again.
The theory of market corners hasn't changed much since the Book of Genesis. The
patriarch Joseph interpreted a dream of the Egyptian pharaoh to
Shipping: "Crude Oil Freight Rates Plunge to Record Lows "
From Wolf Street:
Overcapacity meets broken promises of soaring demand.
The rates for shipping a tanker-load of crude oil by Very Large Crude
Carriers (VLCC) from Rotterdam, Europe’s largest port for the
throughput and storage of crude oil, to Singapore, the world’s largest
crude oil transshipment center, have dropped another $200,000 to $2.25
million, according to S&P Global Platts, the
Overcapacity meets broken promises of soaring demand.
The rates for shipping a tanker-load of crude oil by Very Large Crude
Carriers (VLCC) from Rotterdam, Europe’s largest port for the
throughput and storage of crude oil, to Singapore, the world’s largest
crude oil transshipment center, have dropped another $200,000 to $2.25
million, according to S&P Global Platts, the
Borodino: The Field on which Empires Clashed
From Russia Beyond the Headlines:
Borodino, where the Russian and French armies clashed on Sept. 7, 1812,
is known throughout the world through the incomparable description of
the battle in Leo Tolstoy’s War and Peace. In Russia, however, the
battlefield has achieved an almost spiritual significance, and has been
preserved as a national shrine.
The Battle of Borodino – known to the French
Borodino, where the Russian and French armies clashed on Sept. 7, 1812,
is known throughout the world through the incomparable description of
the battle in Leo Tolstoy’s War and Peace. In Russia, however, the
battlefield has achieved an almost spiritual significance, and has been
preserved as a national shrine.
The Battle of Borodino – known to the French
News You Can Use: "How to spot if society is DOOMED: Researchers reveal the signs that show civilization is set to collapse"
From the Daily Mail, August 31:
Researchers examined archaeological records of the European Neolithic
This revealed there were a number of early warning signs before collapse
They say the framework could help predict similar fate in modern society
It has been
seen all throughout human history – a bustling community experiences a
population boom and technological advancement until,
Researchers examined archaeological records of the European Neolithic
This revealed there were a number of early warning signs before collapse
They say the framework could help predict similar fate in modern society
It has been
seen all throughout human history – a bustling community experiences a
population boom and technological advancement until,
"...Superfluous Capital, Superfluous People"
Treasures of the link-vault.
From emptywheel, January 4, 2016:
In Part 2 of The Origins of Totalitarianism Arendt discusses the history of European Imperialism, primarily focused on England, France and Germany.
“Expansion is everything,” said Cecil Rhodes, and fell
into despair, for every night he saw overhead “these stars … these vast
worlds which we can never reach. I would annex the
From emptywheel, January 4, 2016:
In Part 2 of The Origins of Totalitarianism Arendt discusses the history of European Imperialism, primarily focused on England, France and Germany.
“Expansion is everything,” said Cecil Rhodes, and fell
into despair, for every night he saw overhead “these stars … these vast
worlds which we can never reach. I would annex the
Mile Markers: Bitcoin Exchanges
"New data disclosed to Reuters shows a third of
bitcoin trading platforms have been hacked, and nearly half have closed
in the half dozen years since they burst on the scene."
-Cyber threat grows for bitcoin exchanges, Reuters, Aug. 28
All I Asked Was "Is the Red Snapper Good Here?"
Wary, yet curious, reader might be wondering "What are they going on about now?"
This:
You may recall that some years ago the very connected (Tiger Management founder Julian Robertson's Robertson Foundation, Geneva-based British billionaire Alan Parker's Oak Foundation, Bloomberg Philanthropies, Rockefeller Bros. et al) Oceana issued a report that huge amounts of seafood were not what they
This:
You may recall that some years ago the very connected (Tiger Management founder Julian Robertson's Robertson Foundation, Geneva-based British billionaire Alan Parker's Oak Foundation, Bloomberg Philanthropies, Rockefeller Bros. et al) Oceana issued a report that huge amounts of seafood were not what they
"Palantir Has Filed a Dramatic Lawsuit Against a Major Early Investor"
From Fortune:
These are some serious allegations.
Palantir, a secretive firm that supplies data analytics
to companies and governments, filed a dramatic lawsuit against one of
its early investors, claiming the investor stole confidential
information for his own use.
In a complaint filed last week in California state court, Palantir
alleges Marc Abramowitz betrayed the company by asking
These are some serious allegations.
Palantir, a secretive firm that supplies data analytics
to companies and governments, filed a dramatic lawsuit against one of
its early investors, claiming the investor stole confidential
information for his own use.
In a complaint filed last week in California state court, Palantir
alleges Marc Abramowitz betrayed the company by asking
Vanity Fair Exclusive: "How Elizabeth Holmes’s House of Cards Came Tumbling Down"
For folks who have been following the story the last fifteen months there is actually quite a bit that's new in this piece and as far as I know this is the first time it's all been pulled together in one place,
From Vanity Fair:
In a searing investigation into the once lauded biotech start-up
Theranos, Nick Bilton discovers that its precocious founder defied
medical experts—even her own chief
From Vanity Fair:
In a searing investigation into the once lauded biotech start-up
Theranos, Nick Bilton discovers that its precocious founder defied
medical experts—even her own chief
Okay Rainmakers, Here's Your Prospect List: ArtNews' Top 200 Collectors 2016
From ArtNews:
Shelley Fox Aarons and Philip E. Aarons
New York
Real estate
Contemporary art
Roman Abramovich and Dasha Zhukova
Moscow
Steel, mining, investments, and professional soccer (Chelsea Football Club); philanthropy
Modern and contemporary art
Haryanto Adikoesoemo
Jakarta, Indonesia
Shelley Fox Aarons and Philip E. Aarons
New York
Real estate
Contemporary art
Roman Abramovich and Dasha Zhukova
Moscow
Steel, mining, investments, and professional soccer (Chelsea Football Club); philanthropy
Modern and contemporary art
Haryanto Adikoesoemo
Jakarta, Indonesia
SpaceX Isn't Disclosing Its Insuance Coverage For Recent "Unintentional Ignition"
The best guess is the insurance policies refer to unintentional ignition while SpaceX itself called what happened "an anomaly".
Mr. Musk described the event as a 'fast fire' not an explosion.
Following up on last week's "A Bad Day For Elon Musk and His Insurers (TSLA; SCTY)" wherein it was pointed out that the launch insurance would not kick in and it would probably fall to a marine cargo
Mr. Musk described the event as a 'fast fire' not an explosion.
Following up on last week's "A Bad Day For Elon Musk and His Insurers (TSLA; SCTY)" wherein it was pointed out that the launch insurance would not kick in and it would probably fall to a marine cargo
"Dollar Heavy in Quiet Markets"
From Marc to Market:
The US dollar is trading heavily against
most of the major and emerging market currencies. However, the losses are modest, and the greenback remains within recent
ranges. The Antipodean and Scandi bloc currencies are performing best.
The Reserve
Bank of Australia is the first of four central banks from high income countries
that meet this week. It left the cash rate
The US dollar is trading heavily against
most of the major and emerging market currencies. However, the losses are modest, and the greenback remains within recent
ranges. The Antipodean and Scandi bloc currencies are performing best.
The Reserve
Bank of Australia is the first of four central banks from high income countries
that meet this week. It left the cash rate
80-Room Medieval Italian Castle To Be Sold for First Time in its History
I'm a bit late in getting to this but if you are in the market for a castle there is still some time to make it happen.
Easy access to both Austria and Switzerland as well as all of Northern Italy.
From Medievalists.net:
Castel Valer, a lavishly decorated medieval castle in northern Italy,
which has been owned by the same family who obtained the estate in the
fourteenth century, is set to be
Easy access to both Austria and Switzerland as well as all of Northern Italy.
From Medievalists.net:
Castel Valer, a lavishly decorated medieval castle in northern Italy,
which has been owned by the same family who obtained the estate in the
fourteenth century, is set to be
"Hanjin Shipping Rebounds As Creditors Talk Of Funding Support Again"
From Barron's Asia Stocks to Watch:
As Hanjin Shipping (117930.Korea) tries to prevent its ships, which reportedly carry $14.5 billion worth of cargoes, from being seized at ports around the world, the Korean container shipper’s creditors are talking about a funding rescue again.
Reuters reported the government-backed creditors are
ready to provide Hanjin Shipping with about $90 million of
As Hanjin Shipping (117930.Korea) tries to prevent its ships, which reportedly carry $14.5 billion worth of cargoes, from being seized at ports around the world, the Korean container shipper’s creditors are talking about a funding rescue again.
Reuters reported the government-backed creditors are
ready to provide Hanjin Shipping with about $90 million of
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